How to estimate the cost of relocating

Relocating can be expensive. There are many hidden costs which we don’t see upfront and so we exceed our budget. You need to calculate the buying cost of a new house, selling cost of the old house and removal costs. Here is how to estimate the cost of relocating.

Conveyancing

If you hire a solicitor to buy or sell your property, then it will cost you between GBP 500 and GBP 1,500. You should hire someone who has good recommendations; else you might end up spending a lot of money without much result.

Estate agents

They work on commissions. They usually charge between 1%-3% of the price you sell your house. You can avoid this cost by using other means like advertising your house on websites.

Stamp Duty

It is the tax payable to the government for changing ownership documents of the property. This tax is between 2%-12% depending on the value of your property.

Valuation fee

You will have to pay a bank valuation fee depending on the mortgage you take. It varies from GBP 150 to GBP 1,500.

Surveyor’s fee

Before selling your house, you need to get your house checked by a surveyor. It may cost you between GBP 250 to GBP 600.

Electronic transfer fee

This is the fee required to transfer mortgage money from the bank to the solicitor. It usually costs around GBP 50.

Removal costs

When removing a house, you should consider a number of factors. The cost varies depending on the distance you are moving, stuff you have and the time of the year.

You should consider all these costs before moving. If possible, go to each of the respective places and confirm the price so that you can get a very close estimate. This will help you to decide on your budget.

If you need movers in Wheaton we recommend Jackson Moving & Storage on  (773) 687-0510.

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