What is the Average Cost of Moving House in 2022

It’s no secret that the cost of moving house has changed dramatically over the last few years. So whether you’re a first-time buyer taking advice from mum and dad, or looking to move as you’ve outgrown your home, having a clear idea of how much money you may need to get moving can be tricky. 

We’ve pulled together some average costs, based on the price of the average home in the UK, to give you some idea of what it could cost to move. 

Every home buying journey is different, and there are lots of factors that could affect how much you spend. This guide is here to provide an approximate cost as a starting point on your own unique journey. 

As of the creation of this article, the average price of a home in the UK is £289,099, and this is what we have based our costing on. 

Deposit

Whilst this may be a separate factor, it is the biggest monetary cost when moving, and should be something that is given a lot of thought.

Deposits are usually between 5% and 20% of the price of your chosen property. There are many 5% options now to help first-time buyers get on the ladder. However not everyone is a first-time buyer, or eligible for 5% options, so for our calculations, we have used a 10% deposit on the average price of a house. (For ease, if you’re looking at a 5% deposit, you will need £14,454.95). 

£28,909.90

Buying

These are the costs that anyone who is buying a home will need to consider. 

Conveyancing Fees (Buying)

Conveyancing fees are the legal fees that go to the solicitor for their work in processing the purchase of the house. These fees differ depending on if you’re buying or selling, and cover costs like transferring ownership and bank transfer fees. These can vary between £850 and £1,500, so on average it is around £1,100 for conveyancing fees when buying. 

£1,100

Local Searches

Also known as a disbursement, the cost of searches depends on the location of the property you’re buying. Things like if it is near a river can mean additional searches, and additional charges, alongside regular searches like environmental. Searches can range between £250 - £450, and on average cost around £300. 

£300

Buildings & Contents Insurance

Buildings insurance is a necessary action for most mortgage providers. You need to have it in place prior to moving in. This is something you can shop around for to alter your cost, and it will change depending on what you are trying to insure, but we have found the average price is around £150 for a 3 bed property. 

£150

Stamp Duty

Stamp Duty is calculated using a number of factors - the value of the property you're buying, whether you're a first-time buyer, and if you have more than one property. 

The stamp duty threshold starts at £125,000, so if your property is below this price, you won’t pay anything. If the property is between £125,000 and £250,000 you will pay 2%, if the property is between £250,000 and £925,000 you will pay 5%. First-time buyers don't pay any stamp duty up to £300,000. For this example, based on the average UK house price, and assuming you are selling your home to buy a new one, you pay 5%, at £4,454.

£4,454

Optional / Money Saving

These are what you will likely need when moving house, but could be adjusted if you're looking to save money.

Removal Company

Not everyone is going to want to pay for a removal company or van, but for a lot of people there’s no other option. The cost of this is very subjective depending on the size of the house you’re moving from, what you’re moving and how far it’s going. If we’re looking at moving from a 3 bed house within the East Midlands area, staying within 30 miles distance, and doing your own packing and furniture dismantling, it will cost around £1,000 for a company to move your things for you. If you would also like them to pack up your house and dismantle any furniture, that’s around another £300. For our example, we’re saying the average person would pack their own belongings, but have the removal team do the rest. 

£1,000

Survey

House surveys inform you about the condition of the property you are buying, and whilst not a necessity, they are a good idea. The cost of the survey will depend on the price of the property you’re buying, and what level of survey you would like. We are using our average house price to determine the property value. There’s then three types of survey you can pick. It costs between £500 and £950 for a level 1 survey. Between £500 and £1,000 for level 2. Between £700 and £1,500 for level 3. For our average cost, we’re picking a level 2 survey (the most standard choice for most properties in reasonable condition) which would provide a summary of the properties condition, highlight any significant defects, and provide advice about repairs, and would cost around £700. 

£700

Mail Redirects

Royal Mail redirection is a good idea if you're moving out, where all mail addressed to your old house is delivered to your new address. For a 3 month redirect, it will cost £33.99 (and £8 extra per additional person), a 6 month redirect will cost £47.99 (and £9 extra per additional person), and a 12 month redirect will cost £68.99 (and £10 extra per additional person). For the purpose of our average cost, we will be basing this on two people who are having a 6 month redirect, which comes out at £56.99. 

£56.99

Selling

These are the costs for those that are also selling their property will need to consider. 

Estate Agent Fees

Estate Agent fees range between 0.75% and 3% depending on the estate agent, so you can shop around for the best rate. The average rate is 1.42% of the selling price (including VAT). So if we assume you’re buying a bigger property, that costs £289,099, that your home sells for £250,000. Your estate agent fee would be £3550.

£3,550

Conveyancing Fees (Selling) - £660

So, what is the average cost of moving house?

If you’re buying your first home, you should have £3,307 saved (if you include the ‘optional’ charges), which along with a 10% deposit of £28,909.90, means you should have a total of £32,216.89 saved on average. 

If you’re selling and buying you will need around £11,971 on average saved to cover fees. 

The full breakdown of costs can be found here:

If you’re looking for your dream home, take a look at our available properties in the East Midlands.