Moving home can be very expensive and time-consuming. And the more money you can save through the moving process the more you’ll have left over for improvements. 8% of people will change address in any given year and that means potentially buying a new home that will require upgrades. Your new home may even needs work to become you dream.
So, given that changing address can take a lot of time and cash we’re going to cover a few tips to help you save time and money. Let’s start with how to save time.
Use Home Moving Technology
Moving home has evolved significantly over the last 30 years and there are now lots of great technologies to reduce your expenses and cut down your admin. One of the most time-consuming aspects of moving home is the admin, specifically updating your address and communicating with multiple providers. You can use change of address or home setup service to update your addresses and get everything organised online at. You will also be able to reduce the cost of your energy and broadband, leaving more money left over for your new home improvements. This can also save hours of time by letting your key providers know that you’re moving.
Plan for your Move in Advance
Whether you are buying a new home or looking to rent, the more you can plan your move in advance the more cost and time you will save. This starts by estimating your move-in date and working backwards. You’ll want to work from a moving home checklist to know what and when you need to get done. Most people aren’t aware of this, but most services such as removals and storage are cheaper the further in advance you book them.
Compare Estate Agents
The largest costs by far when moving home are the conveyancing costs and the price of an estate agent. According to the HOA, the average cost of an estate agent is 1.42% of the selling price (including VAT). For the average house price in the UK of £254,000 that would equate to a cost OF £3,606. In the context of a quarter of a million pound sale, 3.6k can feel quite low due to the comparison effect. However, working with an estate agent that can maximise your sale value or conduct the works for less can save you thousands. For instance, saving even 0.5% on your purchase price could be over £1,000 which will enable you paint and decorate most of your home.
Compare Legal Fees
The other significant cost you may encounter when moving home is the legal fees. A typical conveyancer cost is £850-£1,500 per transaction for sellers and buyers. The other aspect at play is not just price, but also speed. Whilst a conveyancer may charge a little more, they proceed with the sale significantly faster. Even the space of a month in a conveyancing transaction could save you £600-£1,000. That could be enough to remodel a small bathroom.
The bottom line is that by taking the time to do your research you can save yourself a lot of time and cash. This doesn’t always mean going with the cheapest, but it doesn’t mean you go with the most expensive either. The other key takeaway is to use moving home technology to help cut down your stress and save time.