How to reduce the costs of moving home

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Moving homes can be one of the most exciting times of your life but can also be one of the most stressful – especially if finances are tight. However, there are a lot of little hacks which you can try which can add up to save you money in the long run.

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Declutter

You should definitely go through every item in your current house and decide what you want to take with you and what you can even dispose of or sell! After all, there’s no point taking something with you that you’ve not used for years and you know will just gather dust in your new place.

You’ll be surprised by how many people don’t go through old stuff or declutter before they move out – it could significantly reduce your removal costs!

 

DIY

Is your new property in need of a lick of paint or new carpets? Well it could be immensely beneficial for you to complete as many of these jobs as possible without hiring professionals. By going to one of your local superstores such as Homebase or Wickes, you can buy everything you need for what’s usually much cheaper than going through a tradesman. And if you’re unable to make the amends yourself, then maybe you can call a close friend or relative for a favour – saving significantly on labour costs. 

 

Haggle

At almost every stage of the house-moving process there is a chance to haggle. From the initial offers on your new property and those who are offering to purchase your current one, to estate agent fees and solicitors fees. Simply asking the question and then potentially negotiating a new price could result in some big savings overall. More often than not, you won’t lose anything by asking about the price, especially when you compare costs with other suppliers in your area, you just might find yourself becoming an expert haggler by the end of the process.

 

Utilise Government Tax relief

Depending on which country you’re living in, you could benefit from government tax reliefs. For example, until 31st March 2021, the UK Government has moved the starting point for Stamp Duty from £125,000 to £500,000 on residential properties. This means that you’re likely to save £1,000’s if you’re buying a property before this date. Better still, if the purchase price of your property is below this amount, then you won’t pay any Stamp Duty at all!

So, if you were planning on moving in the next 12 months or so, it could well be worth bringing those plans forward slightly earlier to utilise these reduced rates. Of course, this is providing you are in a position to be able to move and you shouldn’t cut corners in order to do so as this can be more damaging in the long run. 

 

Conclusion

Minimising the potential stresses of moving home should be at the forefront of your mind when buying and/or selling a property. And trying to reduce the costs of moving can be a good way of doing this. Unfortunately, some costs are unavoidable and if you find yourself struggling financially, then a method of credit such as short term loans could be a solution for you.

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