The cost of moving homes is not cheap. It’s best to understand all costs involved so that there are no surprises down the lines. So we have outlined a number of costs that you should be aware of:
Home Reports. Sellers are required by law to instruct one for interested parties. A Home Report consist of three separate documents- a property questionnaire, an energy performance certificate and a single survey. The cost of a home report can vary but usually it is dependent on location and property value.
Estate agency fees can range from below 1% up to 3.5%, depending on the value of the property, and your location. They ought to include certain services such as marketing the property, creating floor plans, setting up viewings.
In order to complete the sale you’ll need a solicitor or licenced conveyor. They usually charge £850-£1,500 including VAT at 20%.
Land and Buildings Transaction Tax
This is the Scottish equivalent of stamp duty and is payable on properties costing over £145,000, or £40,000 for second homes and buy-to-let properties. The amount due is based on a tiered system, the more expensive the property the higher the tax.
There is also the cost of physically moving houses which should not be forgotten about.
You might also want to consider other costs such as locksmiths (changing all the locks), carpet cleaning, cleaners in general , mail redirection, broadband installation. So there are a lot of costs with moving houses.