Did you know when moving house there are many hidden costs which most people don’t think of budgeting for. In this article from Cashfloat we will help you understand the hidden costs of moving house. Require loans for moving house? Apply here today!
Hidden Costs of Moving House
It’s not uncommon for people to take out fast loans to help with moving house. Many hidden costs emerge when you are moving, and it’s easy to get about some of them. When that happens, it’s possible that you won’t have access to the funds to cover all of those expenses. Here debt and payday loans come into the equation. And that’s not something that you want to happen.
Ideally, you want to move to your new house without having to take out an instalment loan of £600 or any other loan amount. Moving into a new place should be a happy and exciting thing to do. You don’t want to emerge on the other side with a big debt. So, it’s time to learn all you need to know about the costs of moving house. There is sure to be some that you forget about or don’t realise are important.
- Movers
- Packing Supplies
- Surveys
- Conveyancing
- Hidden Mortgage Fees
- Estate Agent Fees
- Storage
- Replacement Items
Many people think that they can go it alone when it comes to moving house. They believe that professional movers won’t be needed to help them out. As a result, they don’t put the money aside to take care of this. But when it comes down to it, most people don’t do the work for themselves. There are enough things to worry about when you’re moving without taking care of the physical labour too. It’s so much easier if you can trust someone else to take care of all those kinds of issues. A reliable moving firm will be able to do the job securely and safely for you.
Before you can move your possessions from your old home to your new one, you need to pack them away securely. To ensure that as much as possible arrives at your new home in one piece, this is something that you have to do very carefully. The packing supplies that you’ll need to get the job done don’t come cheap. You will have to spend money finding boxes, padding, and tape to make sure that everything is secure on the journey. If you fail to get the right packing supplies, it’s more likely that things will get damaged or broken.
A survey has to be carried out in your new home before you move in. The purpose of this is to ensure that the home is in good condition. You don’t want to go into your new house, hand over the money and then find that it has a major problem with subsidence or something similar. It’s all about securing your purchase and making sure that everything goes according to plan as far as it can. These surveys cost money, and if you want a more in-depth survey, it will cost you even more. It’s vital to put some money aside for things like this when you start the moving process.
Conveyancing is another one of those things that you have to pay for when you’re moving to your new house. The conveyancing process is all about switching the ownership of the home from one person to another. It’s a legal process, meaning that someone who has the requisite skills and qualifications has to oversee this. The cost of the process will link to the price of the home that you’re buying. If you use an online service, this can be a little cheaper. But if you want to go directly to the solicitor, it will cost more.
There are lots of fees attached to getting a mortgage as well. You should think very carefully about what these will be before you apply for your new mortgage. For example, some lenders will charge an upfront fee at the time of application. There are also broker fees that you might have to deal with if you get the help of a mortgage broker. You might want to save some money by deciding you don’t need to use this service. For people with a high loan-to-value ratio, indemnity fees will also usually be applicable. Make sure that you have all these costs covered to avoid requiring instant payday loans later.
If you buy a house through an estate agent when you are selling your home, you will have to cover their fees. It’s the seller who takes care of these, so it won’t be something that applies to the new house you bought. But most people do sell a home when they buy one, so it’s important to remember. An estate agent is an asset worth paying for if they do their job well, though. Selling your home without one can cause the process to drag out for longer, and you might not even get the best price possible for it.
There are all kinds of hitches that you can experience when you move home. Some of these lead to delays in the move. Maybe the person who’s buying your house is having trouble selling theirs. When something like this happens, it can cause the whole chain to be held up. Some people have to live in a hotel or with family if something is stopping from moving into their new place right away. When this happens, it’s necessary to put items in storage until the move can go ahead. Putting a lot of your possessions into storage is not cheap, though.
Watch this video from the Which? as Jonnie Irwin explains some extra costs you should be aware of when buying a house.
No matter how hard you try, there is always going to be a few things that get damaged during the move. You’ll be very lucky if nothing gets lost, damaged or broken at some point in the process. Many people take out moving insurance to cover themselves against these kinds of problems. If you opt for that solution, this is another expenditure that you’ll have to incur. And if you don’t, you will have to pay for any replacements out of your pocket. Either way, this is an extra cost that you will have to confront and plan for before you make the move.
Conclusion – Will You Require Short Term Loans For Moving House?
Moving house does require lots of planning and budgeting. As you can see from this article there are many costs which people do not even think they will have to pay for when moving house, we have listed some and there are probably quite a few more we have not included. If possible, getting financial help from family for these small costs is a great idea. However if this is not possible then you can always apply for ashort term loan with Cashfloat.
