Buyer guide – the cost of moving home
The cost of moving home is a lot more than the ticket price on the property you wish to purchase, but provided that you’re aware of all of your costs, you can prepare for them.
Stamp duty can be the most significant extra cost – while homes under £125,000 don’t incur this governmental fee, those above do, rising the purchase price of the property increases. Generally speaking, most people who pay stamp duty will be paying either one or three per cent.
As there’s lots of legal paperwork required in moving home, solicitors are required and you can engage them either for a fixed fee, an hourly rate or a percentage of the sale price. It’s best to use solicitors that have been recommended for you and at Taylor Wimpey, we have a panel of trusted ones you may wish to use.
You can also save money by purchasing a new build home on a Taylor Wimpey development as you won’t need to undertake an expensive structural survey, like you may want to on older properties. For all homes though, it’s advisable to get a basic valuation survey or more in-depth homebuyer’s report.
Moving home is likely to involve removals, even if you’re leaving rented accommodation, so make sure you think about these costs and get a number of quotes so that you can secure the best price.
There are other one-off costs to consider, like buying new carpets and furnishings, so it’s advisable to have a contingency pot for these. And don’t forget the cost of living in your new home, which will involve things like energy, water, council tax and insurance costs.
Discover more about moving home at taylorwimpey.oc.uk or speak to a sales executive at your chosen Taylor Wimpey development.