The average cost of moving house in the UK is now almost £12,000, but experts have shared five easy ways to potentially save thousands in the process. With the cost of living on the rise, every penny counts when it comes to moving a property. Now the storage expert Vlatka Lake in Spacial station and Bruna Pani in We buy any house have shared their tips on how to reduce these costs as much as possible.
From moving houses on the right day to cutting estate agent fees, these tips could see Brits get more on their own sale and save thousands of dollars on moving costs.
time is key
Britons could earn seven per cent more on their homes if they sell them during the spring months.
Vlatka explained: “There are usually periods throughout the year that are quieter for property sales than others, so if you are looking to buy try to do so during these calm times. Christmas and school holidays tend to attract a less competitive market, which means you may be able to secure a property at a lower price.”
Bruna added: “You are also more likely to get a better deal on your property during the warmer months of the year as there is more competition in the real estate market.
“Throughout the spring, house prices rise by as much as seven per cent, especially as more people gear up to buy homes in parts of the UK where they can holiday, such as Cornwall, Devon and the Cotswolds” .
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Reduce moving costs
According to experts, moving house on a Sunday is 35 percent cheaper than any other day.
Try to be as flexible as possible when it comes to moving house on certain days. Those who rent a van or use a moving company should keep in mind that Fridays and Saturdays are usually more expensive, since they are the most popular.
Bruna added: “According to studies, the most popular day to move house is Friday, and the least popular day to move house is Sunday.
“Because of this, Sundays are the cheapest days to move house and the average price to move on that day is around £717, which is 35 per cent cheaper than any other day of the week.”
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Reduce energy bills
Switching providers can help reduce monthly expenses and moving house is the perfect time to sit down and look at your monthly expenses and assess which subscriptions and bills can be reduced.
Vlatka added: “Do you need them, and if so, can you find them elsewhere for a cheaper price? Be sure to check your home insurance, internet subscription, and phone bills.”
Bruna agreed, saying, “Depending on your provider, location, and ownership, this can drastically affect the amount of money you pay each month.
“If you have a standard provider, you can save up to £305 a year by switching to a smaller provider, which could make a big difference to the amount of money you spend each year.”
Check your mortgage
Vlatka said that when moving to a new property, most mortgage lenders will allow homeowners to transfer their current mortgage agreement to the property they’re buying.
He added: “This is a convenient way to settle your mortgage for your new home, but it doesn’t mean you’ll save money.
“Find out if you can find a better deal elsewhere before you switch your mortgage, as this has the potential to save you thousands of pounds over the years.”
Bruna commented, “If you’re still in the introductory period of your mortgage, you’ll probably have to continue with the payment charges. If you have an outstanding debt of £20,000, your repayment charges will be between £2,000 and £10,000.”
