Cost of moving home increases, researchers say
The average cost of moving home in Scotland has reached £8,000 – an increase of 38 per cent over the past decade – according to a study compiled by Post Office Money and the Centre for Economics and Business Research (Cebr).
People in Scotland pay an average of £8,098 every time they move home, although the figure includes stamp duty and estate agent and surveyors’ fees paid by home-owners as well as removal costs.
A survey of 500 people who intend to buy a home in the next three years found that, on average, they expected to pay little more than half of the actual average cost.
John Willcock, head of mortgages at Post Office Money (pictured), said: “With prospective home buyers’ attention firmly fixed on saving for a deposit, the additional costs of moving can often come as an afterthought – particularly for first-time buyers who are taking their first steps on the property ladder.
“Although house prices may continue to rise, there are steps buyers and movers can take to reduce the amount they pay on top of this. Planning ahead is essential and potential home-buyers should be setting aside savings specifically for these costs.”