If you are about to buy a new home, there are many costs that you should consider before you do so. Few people realise how much money moving home will cost them and undervalue their budget for this reason. Moving houses is no small affair. It will not just be you and your partner involved in the move. You will need all kinds of expert advice and opinion. The chances are you believe that moving will be an easy and quick process. In fact, moving home can take not just months, but years.
If you are buying a property, for example, and are in what’s known as a property chain then things could take a while. You have to wait for the sale of your home to go through first of all. Once that is complete, you have to wait for the sale of your new home to go. Because there are so many people involved in this block, it may take a matter of years before anyone moves into their new home. Aside from the time constraint, there is also money issues. Here are a few of the hidden costs of moving home. By reading this quick guide, you are less likely to underestimate the cost of your move.
Structural Costs and Surveyors
Not every property on the market is complete. Some houses will take a lot of work before you can live in them. Many new buyers make the mistake of believing that buying a project home is cheaper than a finished house. The cost of completing a home that needs work doing tends to outweigh the cost of buying a home, which needs no work. Don’t make the common mistake of believing that just because something looks cheap that it is a real bargain.
You will need a surveyor to look over the property before you buy a home. This service may be quite expensive. A surveyor in Kilmarnock will set you back a large lump sum of money. That means that you have dipped into your housing budget before you’ve bought any property at all.
Removals and Moving Costs
Many people neglect to realise how much moving will cost them. It is not just a case of putting everything you own into a van and driving off into the sunset. You have more things in your home than you can imagine. You will need to pay removal people to help you move your home furnishings and boxes. Many people try to cut costs by hiring a van and doing it. Whilst hiring a van may save you money, it is not worth the unbearable stress and anxiety that moving your things will cost you. Few people realise just how stressful moving house is, so ensure that you are ready to take on the challenge.
Real Estate Fees and Fines
Your real estate representative will not be doing all the work for free. Real estate fees and fines are by no means cheap and so you need to set aside a separate budget for these costs. You will have to spend about 10% of your housing budget on paying real estate agents. The last thing you want is for these fees to come as a shock at the last minute. Make sure you are aware of all the costs before you being deal with people in real estate. You should also know that the agents may fine you if things are taking too long to proceed.
Storage and Furnishing Costs
For some people who are buying a home another problem arises. If you have sold your home and need to move out, but the home you are buying isn’t ready you will need to find temporary accommodation. A hotel for a few days won’t set you back much. What will cost you is storing your furniture somewhere until you can move it into your new property. Make sure you have some extra money saved in case this situation happens.