Moving house can be very expensive. There are many costs such as the solicitor, agent fees, stamp duty and removal costs that most people are aware of, but there are also other costs that people are not so aware of such as redirecting mail, redecorating, mortgage fees and things like this. There are ways to plan your move carefully so that the costs are lower.
It is really important to research how much the costs will be before you actually put your home on the market. The costs can really add up, perhaps to a much higher price than you might expect and therefore you need to be aware of what they are likely to be and whether you will need to pay the money upfront or can take it from the mortgage, so that you can work out whether moving home is actually worth the cost.
Firstly you should compare costs of everything that you are doing. You do need to consider value for money, as the cheapest may not always be the best, but make sure that you get a selection of quotes from solicitors, removal companies and estate agents in order that you can choose the one that seems to offer the best value. Compare costs on smaller things that you are doing as well as these could really add up. For example if you have fresh flowers in the house to make a nicer atmosphere for buyers, consider buying a flowering plant instead which will be cheaper in the long run.
Changing your mortgage or getting a mortgage, if you are a first time buyer, can be a lot more expensive than you might think. It can be tempting just to compare the interest rates and types of mortgage and go for the one that looks like it would have the lowest repayments. However, there are other costs of mortgages as well. There is likely to be an administration cost for taking out a mortgage and this needs to be considered as well. If you already have a mortgage and you want to extend or reduce it, change the terms or change lender, then there could be costs associated with this. If you are locked into a fixed rate then you could find that you have to pay really high charges for making any changes. It is also worth looking into how flexible they are and how much they may charge if you do not manage to keep up your repayments. Although this will not make a difference to your current financial situation it is worth considering the future as well.
Many people will decorate their house in order to help it to sell. This can be expensive and so it is worth thinking hard about doing this. A lot of people will want to paint their homes when they move in anyway to put their own stamp on the place. Talk to the estate agent and see what they recommend and also consider buying paint in a colour you like, so that if you have any left over you can use it in your new home. Also buy cheap brands as it will not matter, as it will not be noticeable.