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The real cost of moving home

can you_afford_sign_10_08_12You’ve finally saved up a substantial deposit to get your first foot on the property ladder, or you’ve pocketed some money away to upsize to that dream family home. But what you haven’t done is taken into account unexpected moving costs…

You wouldn’t be alone though. Over one million people in the UK have come up against extra expense that they hadn’t prepared for according to a survey by the Money Advice Service. The research also revealed that nearly three million home-movers are surprised by the cost of moving home.

Poor planning, inadequate research and budgeting less rather than more, have been revealed as causes of this surprise: 20% of those surveyed admitted to incurring costs they had overlooked or not expected, and 37% found the expense of moving was more than they had pre-empted.

But how much should you set back for your home uproot? Well, £9,000 according to a Lloyds TSB report released earlier this year, or nearer £16,500 if you live in the south east of England

With such hefty price tags for moving then, planning for all costs is essential, and so the organisation who carried out the research have created Smart Mover – an online tool to help your budget for the big day. Best get saving! Want to find out how to buy a home? Follow our top tips.

Picture credit: Shutterstock 

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