Moving home is exciting, but it is easy to underestimate what it actually costs. Beyond the price of your new property, a string of fees, taxes and expenses can add up to a significant sum. Budgeting for them properly from the start means no nasty surprises and a far less stressful move. Here is a clear breakdown of the true cost of moving, and how to plan for it.
For many buyers, Stamp Duty Land Tax (SDLT) is the largest single cost after the deposit. The amount depends on the purchase price, whether you are a first-time buyer, and whether you own other property. Given Cambridge's above-average house prices, this can be a substantial figure, so calculate it early. First-time buyers benefit from relief up to set thresholds, and your solicitor or mortgage adviser can confirm exactly what you will owe based on the current rules.
You will need a solicitor or licensed conveyancer to handle the legal side of the purchase and, if you are selling, the sale too. Expect conveyancing fees plus disbursements — the costs your solicitor pays on your behalf, such as Land Registry fees and searches. Together these typically run into four figures, so get quotes upfront and check what is included.
Your lender will carry out a basic valuation, but it is wise to commission your own survey to understand the condition of the property. A more detailed survey costs more but can save you thousands by uncovering problems before you commit — and can even provide grounds to renegotiate. For older Cambridge homes in particular, a thorough survey is money well spent.
Mortgages can carry arrangement fees, booking fees and valuation fees, which vary considerably between lenders and products. Sometimes a deal with a higher fee but a lower rate works out cheaper overall, and sometimes the reverse is true. An independent mortgage adviser can help you compare the true cost of different options, not just the headline rate.
Then there are the costs of actually moving:
Individually small, these add up, so include a line for them in your budget.
Whatever your calculations, set aside a contingency for the unexpected — an overlap in mortgage payments, an early repair, or a delay in the chain. A sensible buffer turns a potential crisis into a minor inconvenience and lets you move with peace of mind.
The true cost of moving home goes well beyond the purchase price: stamp duty, legal fees, surveys, mortgage costs, removals and a contingency all need to be in your budget. Plan for them early and the whole process becomes calmer and more predictable. If you are thinking of moving in or around Cambridge, our team can help you understand the full picture — and our independent mortgage advisers can help you weigh up the real cost of your finance.
It varies with the property price and your circumstances, but stamp duty, legal fees, surveys, mortgage fees and removals together can be considerable. Get specific quotes early and add a contingency.
First-time buyers benefit from relief up to set price thresholds and may pay reduced or no stamp duty depending on the price. Confirm the current thresholds with your solicitor or adviser.
Often yes, especially for older properties. A detailed survey can reveal costly issues before you commit and may give you grounds to renegotiate the price.
