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- Cost Of Buying & Moving Home Calculator 2024 | money.co.uk
Cost of buying and moving home calculator
Moving house is a busy and exciting time, but it can also be hugely expensive. After you’ve agreed a price for your new home, there are a wide variety of other costs to budget for. From stamp duty to estate agent fees and removal vans, there are a lot of bills to prepare for, but what is the overall cost of buying and moving home?
To help you prepare for your home move and budget accordingly, mortgage experts at money.co.uk have created a cost of buying and moving house calculator to reveal the hidden costs and prevent any nasty financial surprises! Use our calculator to help you understand the extra money you’ll need to save to afford your move.
If you’re in the process of buying a property, don’t forget to compare mortgages to ensure you get the best deal.
Simply input whether or not you’re a first time buyer, your new home’s location and price and how many miles you’re moving. It will then reveal all the taxes, fees, and upfront costs you can expect to pay when you move home. The calculator includes estate agent fees, stamp duty (Land Transaction Tax rates in Wales), conveyancing, surveyor costs, the cost of hiring a removal company and more.
Ready to start budgeting? Try it now:
The average cost of moving home in the UK is £17,620 based on the average sized house (3 bedrooms) and the median distance travelled (9 miles) in 2022.
The average costs broken down across the UK are shown in the table below:
| UK average | England | Wales | Northern Ireland | Scotland |
|---|---|---|---|---|
| £17,620 | £26,117 | £18,025 | £12,283 | £14,056 |
What you pay for when you move house
Here’s a breakdown of the costs you’ll need to cover and when you’ll need to pay them, across the UK:
Stamp Duty and equivalent
Stamp Duty and its equivalents (e.g Land Transaction Tax in Wales or Land and building transaction tax in Scotland) will likely be one of the largest upfront costs you’ll need to pay when moving home. To the delight of many house hunters, Since 23rd September 2022, if you're moving house in England and Northern Ireland, you will not have to pay Stamp Duty on the first £250,000 of a property's purchase price.
Stamp Duty (SDLT) - England & Northern Ireland
| Property purchase price | Rate on main residence | Additional property |
|---|---|---|
| Up to £125,000 | 0% | 3% |
| Up to £300,000 for first-time buyers* | 0% | n/a |
| £125,0001 – £250,000 | 2% | 5% |
| £250,001 – £925,000 | 5% | 8% |
| £925,001 – £1,500,000 | 10% | 13% |
| £1,500,001 + | 12% | 15% |
*The £300,000 first-time buyer stamp duty threshold does not apply if the property you are buying costs more than £500,000 – if it does, you'll pay the normal rate of stamp duty.
The rules and rate of tax differ for first time buyers and if you live in Scotland or Wales, as shown below.
Land Transaction Tax (LTT) - Wales
| Property purchase price | Rate |
|---|---|
| The portion up to and including £180,000 | 0% |
| The portion over £180,000 up to and including £250,000 | 4% |
| The portion over £250,000 up to and including £400,000 | 5% |
| The portion over £400,000 up to and including £750,000 | 7,5% |
| The portion over £750,000 up to and including £1,500,000 | 10% |
| The portion over £1,500,000 | 12% |
Land and building transaction (LBTT) - Scotland
| Property purchase price | Rate |
|---|---|
| Up to £145,000 | 0% |
| £145,001 to £250,000 | 2% |
| £250,001 to £325,000 | 5% |
| £325,001 to £750,000 | 10% |
| Over £750,000 | 12% |
Estate Agent Fee
As much as you’d love it to, a home doesn’t usually sell itself - marketing is key, so you’ll need to pay your estate agent a fee for helping you sell your property. The average fee in England, Wales and Northern Ireland is 1.41%, including VAT. The average fee in Scotland is 2.25%.
Surveyor's Fee
When you buy or sell a property you will need to have a survey to ensure the property has no structural or potential issues; this might seem like a pain when you just want to get on with the process, but doing so can help save you a headache later down the line. Whoever is organising the survey is usually the one who pays for it.
Your surveyors fee will differ depending on the type of survey you require and the size of your home. The average survey fees for a property in the UK are shown in the table below. Survey types differ across England, Wales, Northern Ireland and Scotland.
| Type of survey | England | Wales | Northern Ireland | Scotland |
|---|---|---|---|---|
| RCIS L1 | £425 | £480 | £300 | £600 |
| RCIS L2 | £700 | £500 | £450 | £700 |
| RCIS L3 | £1,025 | £615 | £1,300 | £1,050 |
| Snagging Survey | £400 | n/a | n/a | n/a |
| Mortgage Valuation | £425 | n/a | n/a | n/a |
| Scottish home report | n/a | n/a | n/a | £600 |
Conveyancing Fee (including VAT)
Conveyancing fees are paid to your solicitor and are usually split into two parts – the legal fees, which are the base charge for the solicitor's services, and disbursements, which are the costs of paying for third parties' services for work like searches and surveys. The average fees are shown below.
| Action | England | Wales | Northern Ireland | Scotland |
|---|---|---|---|---|
| Buying a house | £2,048 | £2,048 | £1,550 | £1,040 |
| Selling a house | £1,407 | £1,407 | £1,550 | £1,000 |
Mortgage Valuation Fee
A mortgage provider will value your property and make sure it's worth the amount you wish to borrow. The average Mortgage Valuation Fee in England and Wales is £100, but it’s a lot steeper in Northern Ireland and Scotland at £825 and £875 respectively.
In Scotland, the mortgage lender might rely on the mortgage valuation contained in the Home Report if it includes one or needs an independent one.
| England | Wales | Northern ireland | Scotland |
|---|---|---|---|
| £100 | £100 | £825 | £875 |
Mortgage Arrangement Fee
A mortgage arrangement fee (sometimes called a Completion fee) is the fee for the mortgage product that you pay to your lender. Often lenders will advertise low interest rates to garner interest, but the catch will be the very large arrangement fee - so don’t get caught out!
When choosing a mortgage, you should ensure you have taken into consideration the arrangement fee when working out the true cost of a mortgage deal. You may find you are better off with a slightly higher interest rate and a lower arrangement fee.
The average Mortgage Arrangement fees across the UK are shown in the table below.
| England | Wales | Northern ireland | Scotland |
|---|---|---|---|
| £1,000 | £950 | £1,000 | £1,000 |
Electronic Transfer Fee (CHAPS)
This is a fee of (on average) £30 charged by your mortgage lender. It covers the cost of transferring your mortgage money to your solicitor, so they can complete your property purchase. You can find it on your solicitor's bill.
Removal Fee (van, packing, removal men etc)
If you’ve got a lot of heavy furniture, a shopping addiction or a hoard of possessions you’ve built up over the years, professional movers could be the way to go.
For lighter loads, a man-with-a-van service should be a lot cheaper. Regardless of the load, be sure to check with your removal firm that they offer insurance to cover the cost of any breakages.
The table below shows the average cost across the UK for a removal van, with and without help with packing.
| England Average cost | England with packing service | Wales Average cost | Wales with packing service | Northern Ireland Average cost | Northern Ireland with packing service | Scotland Average cost | Scotland with packing service | |
|---|---|---|---|---|---|---|---|---|
| 1 bedroom house | £535 | £715 | £535 | £715 | £535 | £715 | £535 | £715 |
| 2 bedroom house | £640 | £860 | £640 | £860 | £640 | £860 | £640 | £860 |
| 3 bedroom house | £880 | £1,150 | £880 | £1,150 | £880 | £1,150 | £880 | £1,150 |
| 4 bedroom house | £960 | £1,310 | £960 | £1,310 | £960 | £1,310 | £960 | £1,310 |
Land Registry fee
The Land Registry is a government department that looks after the registers of properties in England and Wales. It charges a fee for transferring the register to the new owner. This fee is charged according to property price. It can be applied for and paid for by post or online.
Land Registry fee - England
| Value of property | Online - Freehold fee | Online - Leasehold fee |
|---|---|---|
| 0 to £80,000 | £20 | £45 |
| £80,001 to £100,000 | £40 | £95 |
| £100,001 to £200,000 | £100 | £230 |
| £200,001 to £500,000 | £150 | £330 |
| £500,001 to £1,000,000 | £295 | £655 |
| £1,000,001 and over | £500 | £1,105 |
Land Registry fee - Wales
| Value of property | Online - Freehold fee | Online - Leasehold fee |
|---|---|---|
| 0 to £80,000 | £20 | £45 |
| £80,001 to £100,000 | £40 | £95 |
| £100,001 to £200,000 | £100 | £230 |
| £200,001 to £500,000 | £150 | £330 |
| £500,001 to £1,000,000 | £295 | £655 |
| £1,000,001 and over | £500 | £1,105 |
LPS Registrations - Northern Ireland
| Value of property | Online freehold and leasehold fee |
|---|---|
| £20,000 or less | £80.00 |
| £20,001 to £80,000 | £120.00 |
| £80,001 to £100,000 | £160.00 |
| £100,001 to £150,000 | £220.00 |
| £150,001 to £200,000 | £310.00 |
| £200,001 to £250,000 | £355.00 |
| £250,001 or more | £445.00 |
Registration fee - Scotland
| Value of property | Fee for both freehold and leasehold | When it's the first time a property is registered: Voluntary registration fee |
|---|---|---|
| £0 - 50,000 | £80 | £60 |
| £50,001 - 100,000 | £140 | £110 |
| £100,001 - 150,000 | £260 | £200 |
| £150,001 - 200,000 | £400 | £300 |
| £200,001 - 300,000 | £530 | £400 |
| £300,001 - 500,000 | £660 | £500 |
| £500,001 - 700,000 | £800 | £600 |
| £700,001 - 1,000,000 | £930 | £700 |
| £1,000,001 - 2,000,000 | £1,100 | £830 |
| £2,000,001 - 3,000,000 | £3,300 | £2,480 |
| £3,000,001 - 5,000,000 | £5,500 | £4,130 |
| £5,000,001 or more | £8,250 | £6,190 |
Taxes
In England you will have to pay Capital Gains tax on a buy to let property and in Scotland you will have to pay Capital Gains tax on a buy to let property or additional property (not your main home).
Energy Performance Certificate (EPC)
Energy Performance Certificates (EPCs) tell you how energy efficient a building is and give it a rating from A (very efficient) to G (inefficient). It is a legal requirement to have a valid EPC for a property when marketing for sales and/or lettings.
In Scotland, you must display the EPC somewhere in the property, for example in the metre cupboard or next to the boiler.
The table below shows the price of an EPC in each country across the UK.
| Country | England | Wales | Northern Ireland | Scotland |
|---|---|---|---|---|
| Price of EPC | £78 | £78 | £75 | £78 |
FAQ's
What are some packing tips when moving house?
Packing up your belongings when moving house is a long laborious process, but there are some ways you can make it a little easier, on both your patience and your wallet! Firstly, make sure you begin packing well in advance, as it almost always takes longer than you’d expect. For a large house, 2 months is a good place to start if you pack one box a day. Pack room by room, and start with the items you use less often, so that you don’t end up packing something you’ll need before it’s time to move.
Roll your clothes up to save space; this will mean needing to buy and use less boxes. Also, be sure to use plastic bags for spillable items to avoid any leaks and precious cargo getting ruined. In terms of your valuables and important documents e.g passports and birth certificates, pack them all into one or two boxes and clearly label them. Ensure you make an inventory so that nothing is left behind!
Finally, use moving house as an opportunity to declutter and donate to your local charity shop. If you want to make some extra cash, then you could even hold a car boot sale or sell your unwanted items on ebay.
Who do you need to inform when moving house?
There are many different people and organisations you need to inform of your change of address when moving house, so it’s a good idea to make a checklist of them all to ensure nothing is missed.
Firstly, you’ll want to let your family and friends know, as well as your employer and HMRC; Updating your address will affect Payroll, Income Tax, National Insurance, State Pension, tax credits, and Child Benefits.
Your local authorities will also need to be made aware, including your current Council, as well as your new local Council once you’ve moved so you can transfer Council Tax. You’ll need to re-register on the electoral roll of your new area and let the Department of Work and Pensions (DWP) know if you receive money from the government.
Household suppliers will need to be notified, including your telephone company, internet and TV licence, plus utility companies such as electricity, gas, and water.
You should inform any educational organisations such as your school or university, and if you have a car, the DVLA as well as your vehicle insurance company. Healthcare providers will also need to be notified, including your GP, dentist, optician and vet.
Banks and credit card companies will need to be notified, not only in order to complete payments, but also because they often use your address to prove your identity.
The Post Office will also need to be informed so that they can redirect your post to ensure that you receive all pieces of mail.
Do you need insurance when moving house?
When you move to a new home, it’s essential to have the correct home insurance in place. Often people assume you need insurance from the point where you get the keys, walk through the door and begin to unpack, but in reality you’ll need to get both contents and buildings insurance as soon as you take ownership of the property (exchange contracts).
The most important cover to have in place when moving house is a contents insurance policy that includes house removals. This typically includes accidental loss or damage to your belongings when being moved to your new home, either by yourself or a professional removals company.
It’s also a good idea to get buildings insurance on exchange, especially if you have a mortgage on the property. This will cover you if an accident or natural disaster happens that damages your new investment, such as a fire or a flood. If you’re renting you shouldn’t need this.
How do you cancel council tax when moving house?
You’ll need to call your local council in the days leading up to the move to let them know so they can stop charging you tax on your existing home. If you’re moving to a new home in the same area then you’ll be able to set up your new council tax at the same time as cancelling your old one. If you are moving to a different area you’ll need to contact your new local council to set up your new council tax.
Methodology and sources
To create the calculator we have aggregated data from various sources and tailored the output to match the data entered by users.
For instance, all stamp duty and equivalent figures were taken from respective English, Welsh, Irish and Scottish government websites and adapted to the property value entered by the user. E.g. if the property value is worth £250,600 and located in England, then the stamp duty with be 5% or £12,530.
A similar process has been applied to the land registry fee, the energy performance certificate and both mortgage valuation and arrangement fees. When the
For the real estate agent fee, we used the national average figure of 1.41% apart from Scotland, which average stands at 2.25%.
The removal cost was calculated by gathering data on the average cost with or without packing for a 1 to 4 bedroom house. If the distance between the 2 destinations is superior to 15 miles, then the average cost of £1 per mile will be added to the total.
To calculate the average surveyor fee in Wales, we individually contacted 15 surveying companies from the 6 major Welsh cities to get L1, L2 and L3 RCIS surveys quotes.
We asked for a quote for an average priced house in Wales (£241,000 - July 2022).
We also used 2 comparison websites to get 5 further quotes:
https://www.reallymoving.com/quote-forms/surveyors
https://www.rightsurvey.co.uk/surveyor-quotes-house-survey-quotes/
We then averaged the cost of each type of survey and used it as an average for Wales.
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