Millions of people move every year from one house to another, and at times moving can be very exciting and at the same time stressing. This is because most people do not take into account all the factors and cost which are involved in moving. The best way to avoid having a stressful move is to do your homework and find out all you can about the cost which is involved to be able to prepare adequately. Here are the top five costs associated with moving into a new home in 2018 that everyone looking to move needs to know.
- Mortgage Fees
The cost to buy a home keeps changing depending on the prevailing market conditions, and in most cases, you may need to take on a mortgage. In the instance you decide to buy a new home using mortgage then you need to shop around and find the mortgage provider with the cheapest rates. The fees that you will need to be aware about include the application fee for the mortgage fees. The amount which you pay for your mortgage will mostly vary depending on the individual. The mortgage fee may be incorporated with account of administration fee which is the fee of setting up the mortgage account and closing it up completion of the transaction.
- Valuation fee
Before the mortgage can sign off on the mortgage they will need to check the property that I being bought and correctly put the valuation on it. The reason as to why valuation is done is to determine if the amount which you are requesting for matches the value of the home that you are looking to move into. One thing to note is that there are those companies which won’t charge the valuation fee but may include it as a part of the service which they offer. In case the fee is not covered as part of the charges then one is supposed to pay that amount upfront.
- Stamp Duty
Stamp duty is the fee which is imposed by the government on the sale of very property. When moving to a new house then you will need to factor in the stamp duty that has to be paid to the government. The amount which one pays will depend on the property as those who move to non-residential houses tend to pay more.
- Legal Fees
When you are moving to a new house, you will need an expert who will handle all the paperwork which are involved with the buying and selling of the property. The fees will cover setting up of the contracts and handling all the monetary transactions. This fee will vary depending on individual.
- Movers Cost
This is important because you will need actual transport to move you from one home to the next home you are moving to. The mover company will charge according the distance and the amount of property that needs moving. There are many movers company so it’s important to compare the different prices they charge.