Manage The Hidden Costs Of Moving Home

Moving home can be expensive, and there are often costs people overlook. It is important you find support and services that offer value for money. However, if you don’t know which fees you will end up paying, you will end up being overbudget for moving home.

Moving home can be expensive, and there are often costs people overlook. It is important you find support and services that offer value for money. However, if you don’t know which fees you will end up paying, you will end up being overbudget for moving home.

At Ariston Property, we are here to assist you. We have helped many people and households move in North London, and we are here to help you. If you would like to manage the hidden costs of moving home, please get in touch.

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Research carried out by MoneySuperMarket suggests the average household spends close to £700 in hidden fees when they move home. With the same source finding 19% of British people move a minimum of nine times in their life; the potential lifetime expenditure on hidden fees is over £6,000.

The same study also found 63% of people were unaware that moving home regularly can have a negative impact on their credit score.

According to the study, the most expensive city for hidden costs when moving was Coventry, with fees of £841. The most affordable city for hidden fees when moving home was Gloucester, with unexpected fees of £360.

The top six most common additional fees for British home movers are:

• Bedding and kitchen utensils, cited by 53% of respondents

• New furniture, also cited by 53% of respondents

• The cost of having mail re-directed, listed by 39% of respondents

• The cost of having Wi-Fi installed, said by 36% of respondents

• Having to change bill providers, named by 34% of respondents

• 24% of respondents listed the cost of removal services

The study also uncovered the three most common reasons for moving:

1. 31% of respondents saying they want to own their own place

2. 29% cited moving in with a partner

3. 28% saying moving to a larger home

Kate Devine is the Home Insurance spokesperson at MoneySuperMarket, and she said; “With the housing market boosted by the Chancellor’s stamp duty holiday, many of us are considering moving home. Whether you’re buying or renting, make sure you’ve factored in all the potential costs you expect to incur.”

Kate continued by saying; “If you’re buying a home, our research shows that it’s not just stamp duty, legal and estate agency fees that should be on your checklist, but also things like cleaning, new household products, temporary storage space and professional movers to make sure your treasured possessions get from A to B safely.”

Kate Devine concluded by saying; “To protect you in case things go wrong when you move, we would recommend you have contents insurance before transporting your items to their new home – most policies will provide cover for your belongings against damage or loss while they’re in transit from one property to the next. But make sure you use a professional removals firm – many of which have their own insurance – to guarantee you benefit from this protection.”

We know these are challenging times, but if you have any questions about the local property market, please feel free to contact us. At Ariston Property, we aim to support the local community as best we can, and we look forward to assisting you in any way.