The Inside Edge
5 Money saving tips for moving into a new house
In this morning’s Citywire Linton Chiswick rightfully points out that the rising cost of moving house in recent years has been inflated not only by the introduction of higher arrangement and exit fees on mortgages but with the pending 2.5% rise in VAT and rising stamp duty (for homes over £1m) it is set to increase it further. This will bring the cost of moving to 6 – 10% of the value of the house in 2011, and may prompt many to rethink their plans for moving – especially in what seems to be a falling market.
In response to this we’ve put together 5 tips for saving money on moving house:
1. Don’t. Stay in the house you’re in, perhaps use the money to extend or redecorate?
2. Do the removals yourself. Get a group of friends around for a weekend, hire a big van (a very very big van) and pack and move your possessions yourself.
3. Use a low cost estate agent or barter on fees with a High Street Agent to save on selling costs. You have to evaluate whether this strategy will effect the sale of the house though – using an ineffectual service and not finding a buyer may save on fees but for the wrong reason – because you won’t have sold the house!
4. Rent. Much of the cost of buying and selling houses is in the estate agent fees, legal costs and mortgage arrangement fees. If you rent you may have to pay a fee for your tenant verification checks but after that its a fee free life.
5. DIY conveyancing. It is actually possible to undertake your own conveyance (the legal process of transferring ownership of property – normally undertaken by a solicitor or conveyancer) although not advisable unless you are very competent and willing. Get a DIY conveyancing pack from Lawpack
.
I would certainly think long and hard about moving yourself unless you
can spread the move over several days. If your selling or buying you will
have time restraints which could involve unforeseen costs. Relying on the
goodwill of friends and family is not a good idea, relationships can easily
be strained and it’s allways harder work than you think.
You will need to bear in mind that you will not have blankets and straps
included with the van hire and damage will be quite likely as the load will
not be securely stacked. Furthermore your goods will not be insured.
I have written a detailed report on moving called “The Top Ten Removals
and Storage Disasters to Avoid” which covers every aspect of moving house
in chapter 10 the scenario of moving yourself is outlined In horific detail!
The report is available from my website http://www.ajstephensonremovals.co.uk
all you need to do is sign up for it using your email and name and it will be
delivered to you in daily chapters.
It is possible that moving yourself could cost alot more than hiring a
Professional remover.
Good money saving tips!
Whenever you’re planning a move, the first thing you should do is create a moving budget. Most people who move feel they don’t have time to set up a budget, however, not preparing financially could cost you more in the long-run. Small items such as buying a new shower curtain, sheets or restocking your shelves after you move all adds up. I recommend setting a budget first, before you do anything else.