How to budget for your moving costs

The Cost of Moving Home

Figures from Lloyds TSB, have advised the average cost of moving house for existing homeowners now stands at £8,922, 69% higher than ten years earlier. During the same period, house prices have risen by about 64pc

However the cost of House Removals has not increased significantly over the last 10 years. The cost of moving house is still expensive, along with the other expenses associated with moving house.

The costs involved with moving house, whether it be renting or buying can set you back quite a bit especially when legal fees and stamp duty are involved, not to forget security deposits and agency fees for renters. Most landlords require a minimum of 1 month’s security deposit before moving in.

To some people the whole cost of moving is overwhelming and can lead to considerable stress if the move is unavoidable.

To avoid such stressful situations when moving house, the best option is by budgeting the cost of your move as early as possible.

Most people know months in advance if they are going to be moving. Some people know 6 months or even a year in advance if tenants, or on a contract with work. If you know that you are not planning on staying put then start a small savings account to cover your expenses which will be used to cover a proportion of your house moving expenses.

Make an enquiry with your removal company as soon as possible to obtain a rate for the move then simply spread the cost over however many months prior to your house move. It sounds simple in theory to save, when in reality it is often not the case, especially with the rising cost of living. However, It is better to save some money than have a large bill to pay – which will inevitably leave you financially stretched for a few months after your house move.

For those leaving home, or planning to rent should be saving for your house rental deposit, and money for the removal company plus have some emergency funds available.

It is important to prepare for your house removal as soon as possible, and start planning – it is worth speaking to a move manager and discuss the options available to you for your next move, to get the price for your removal

3 Responses

  1. Managing the budget of relocation process always plays a big role in taking the decision that whether we have to go with the removals company or not. If we found the quotes provided them by satisfactory and in our budget we will hire them but if what we should have to do, that’s where your blog post comes in effect with so much of importance. Really good post.

    Reply
  2. Budgeting for home removal is really a vital one.People are getting trouble to estimate this and most of the time they crossed their budget.Professional moving company provides great services on this concern.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *