How much does it really cost to move home?

Whether you are buying your first home or taking a step up the property ladder, it’s important to understand all the costs of moving and factor them into your budget.

When saving money for a deposit, you might need to stash away more than you think.

There are lots of extra expenses involved in the home-buying and conveyancing process, from solicitor fees to removal costs.

Here you can find out about these various costs, including:

• Surveys
• Mortgage fees
• Conveyancing
• Removal services
• Estate agent fees (if you're also selling)

What do I need to save for?

On top of your deposit, you’ll need some extra cash ready for the following:

1. Surveyors

Before you can get your mortgage, your lender will want to value the property, and you’ll need to pay or this.

Before you can get your mortgage, your lender will want to value the property, and you may need to pay for this.

Costs vary with lenders but are typically between £150 and £300. However, unless the home is a new build, you should also arrange your own survey to reduce the chance of nasty surprises later.

A HomeBuyer’s report can cost between £400 and £1,000 (depending on the size of the property), while a more detailed building survey will set you back between £630 and £1,500.

2. Mortgage fees

When you take out a mortgage, you’ll have to pay certain fees to the lender depending on the type of mortgage deal.

Some will charge no fees, but others could run to £1,000 or more, so check with a mortgage adviser.

3. Mortgage term life insurance

If you have a partner, dependents, or a co-holder of the mortgage, it's highly advisable to take out mortgage term life insurance.

This means that if you die before the mortgage is paid off, the insurance will pay off the debt in full.

4. Conveyancing fees

The conveyancing process ensures your home purchase is fully legal and watertight, and is usually carried out by a solicitor.

Fees for this are typically between £500 and £1,500 for buying a house and £610 and £950 when you are selling.

Your conveyancer should also conduct a range of ‘searches’ to prevent any unpleasant surprises like mine-shafts under your property – these searches cost around £300.

5. Stamp duty land tax

How much you pay is worked out through a tiered system, and it’s a bit complicated.

No stamp duty is currently payable on the first £250,000 and starts at 5% on the next £675,000, rising to 10% on the £575,000 after that.

Any portion above £1.5 million is taxed at 12%. However, if you’re buying your first home, there is an exemption that means no stamp duty is payable up to £425,000, so long as the property is valued at less than £625,000.

Making matters even more confusing is that the threshold for paying stamp duty will fall to £125,000 on 1 April 2025 with a rate of 2% on properties up to £250,000.

The terms for first-time buyers will also change, with the threshold starting at £300,000 for properties worth less than £500,000.

All of the above costs will vary depending on the home you’re buying and other circumstances. Luck plays a role too, especially with surveys - if a major issue is discovered, you may have to start all over again.

Removal costs, furniture and decoration

Most people moving home use a removals company. Costs will vary according to the size of the property and the distance you are travelling. In 2024, the average cost for a three-bed house moving a distance of 15 miles was £800.

If you’re a first-time buyer and don’t yet own much furniture, it’s possible to do it yourself with the help of a few friends – but then, of course, you’ll want to buy some furniture. You can expect to spend around £2,000 on furnishings and an extra £1,000 on white goods such as fridge, washing machine and oven – as a minimum.

You can save money buying second hand, looking at sites like Freecycle, and seeing if friends and family have items they no longer need.

Depending on the state of the property you’re buying, you may also need to factor in costs such as redecoration and/or home improvements.

What about selling costs?

If you’re not a first-time buyer, you’ll also have to factor in the cost of selling your current home.

The main one here is the estate agent’s fee, which comes directly from the money your home fetches. Expect to pay between 0.9% and 3.6% - but note that you can negotiate!

You’ll also need to shell out for your home’s EPC rating certificate upfront, which costs between £60 and £120. If you’re selling a second property (i.e. not your main residence) then you may also have to pay capital gains tax if its value has risen.

Ongoing costs

It’s also important to remember to factor in other ongoing costs once you’ve moved in.

Certain costs might only be for the short term, others, like council tax, need to be taken into account in your monthly budget.

Some of the main ongoing costs you need to consider are:

• Maintainance and repairs
• Building and contents insurance
• Council tax
• Running costs (gas, electricity etc)
• Extra moving day costs (storage, cleaning, mail redirection etc

Can I put these costs on my mortgage?

The short answer to this is yes, you can add many of the costs of moving to your mortgage.

However, in most cases you should resist the temptation to do so, as you’ll pay much more over time – and you can usually get better value finance deals elsewhere. Talk to your mortgage adviser to find out more about this.

Need help with your property goals?

Buying a home or moving to a new property can be stressful, but it doesn’t need to be.

Unbiased can quickly connect you with a qualified mortgage broker who can help you find the right mortgage for your unique circumstances. 

If you found this article useful, you might also find our new home checklist informative, too!