Reallymoving: The cost of moving laid bare

At Homeward Legal, we are always thinking about the cost of moving and what that means to you.

Now, comparison site reallymoving have delved deeper into the available data to understand this better in their Cost of Moving Report 2024, which was published 18 November 2024.

In their investigations and analysis, there was the recognition that the recent Budget announcements regarding Stamp Duty would have an effect, but there are other aspects to moving that need to be considered, including the cost of ordering a Level 2 Homebuyers Survey, estate agent fees, conveyancing costs, obtaining an EPC for selling a property and the cost of removals and storage. The survey took in almost 140,000 quotes to come up with the typical cost of moving home.

The value derived from reallymoving's assessment of the data shows that, for people who are buying and selling a property, they can expect to pay £13,978. However, because of the recent Budget statement, where the Stamp Duty thresholds will be dropping from April 2025, this means that there is now a very short window in which to capitalise on the payment of the duty, bearing in mind that the average amount of time to move home is between twelve and sixteen weeks.

Once the March deadline has passed, home-movers may be required to pay an additional £2,500 in extra Stamp Duty, which makes the average payment rise to just under £16,500.

Reallymoving also helpfully provide a few pointers to help reduce the expenditure for moving home:

• Use a comparison site to compare quotes from vetted and accredited firms, checking reviews as well as prices
• Planning and doing your research is key to reducing costs, so that you find the cheapest times of the year to move, avoiding popular times such as the summer holidays or leading up to Christmas. 
• In addition, the majority of people like to choose a Friday to move, mainly because it gives them the weekend to try to get things sorted before starting the next working week. By choosing another day of the week, you might be able to capitalise on lower costs and any mid-week deals that might be on offer.

• Try to avoid leaving your bookings for removals to the last minute - it might be tempting to wait until the move date is absolutely firm, but the earlier you can do it means a better chance of managing the budget for your move. If you are an OAP, a student, categorised as a key worker (e.g. a health professional, police, etc.) or a member of the armed forces, you can search for firms that offer discounts to these groups.

• Plan to take time in decluttering what you have, taking things to charity shops and the tip, giving items to friends and family, so that you don't then have to pay for the extra in the removals. Simply put: the less you have, the less you pay.

• Because of the expense of moving home, let alone the amount you'll be paying for the property itself, it's very easy to simply opt for what is cheapest or to avoid paying for something that might be important, such as insuring your move. But, before you look into taking out a specific policy, reallymoving advises checking your existing home insurance policy to understand whether there are provisions to cover your possessions while they are in transit from your old home to the new. And, while most removal companies have their own insurance policies to cover the moving enterprise, you should request details of what is covered and what is not and what the agreed excess is from the insurance provider. If you aren't clear or happy with what is available, you should consider upgrading the policy for your move.

It's a stressful time when you are planning to move home, and problems and the cost can take the shine off the excitement of getting into your new home, so it's worth expending the effort in making sure you understand what costs are involved and how you are planning to budget for them, particularly with the changes to the stamp duty in the near distant horizon.

As Rob Houghton, CEO of reallymoving, puts it:

“Raising almost £14,000 to finance a home move is a major challenge for many people, especially with the cost of living so high making it even harder to save.

“We've seen an increase in the proportion of First-Time Buyer activity in the last few weeks as people accelerate plans to move to take advantage of lower stamp duty bills before they rise next spring, but the window will be too tight for many, so it's wise to budget for higher stamp duty costs just in case.

“Our data shows that the fewest home moves take place during January and February, but bear in mind that the New Year and early spring may well be busier in 2025 as people rush to beat the stamp duty deadline.

“Always shop around to secure the best deals for conveyancing, surveying and removals, paying close attention to reviews as well as price.

“Over the next few months, it will be even more important to have a reliable and responsive conveyancer who will progress your transaction quickly and efficiently.”

Wanting to get the best value for money when it comes to the conveyancing for your sale and purchase? You can rely on the experts at Homeward Legal to help you. 

They will start work on your planned purchase as soon as you agree to the quotation and appoint them to represent you. 

Homeward Legal will also provide a quote that will not change - what you are quoted is what you pay for standard conveyancing process, which means you can effectively budget for your conveyancing needs.

There are some unforeseen items that might arise during the purchase and/or sale, but the solicitor discusses these and their cost as they come up. 

In addition, to protect the homebuyer further, Homeward Legal operates a ‘no completion, no fee' promise, which ensures that, should the purchase or sale not go through as planned to completion status, no payment is required.

Call  to get your conveyancing quote started, or to discuss your concerns with your plans to move.

Or you can get a quick quote, using Homeward Legal's easy-to-use quote generator.