The Real Cost of Selling and Moving Home in England: A Complete Breakdown

If you're thinking about selling your home and moving to a new property in England, it’s important to be aware of the full range of costs involved. While the sale price of your current home and the purchase price of your new property are major factors, there are also several hidden costs that you should account for to avoid any surprises.

To help you plan your move with confidence, we’ve broken down the typical costs of selling and moving home in England. Understanding these expenses will ensure you're prepared for every step of the journey—from estate agent fees to removal costs.

1. Estate Agent Fees

The most common route for selling a property in England is through an estate agent, and their fees are typically based on a percentage of the sale price. The cost of hiring an estate agent can vary significantly depending on whether you choose a traditional high street agent or an online alternative.

• High Street Agents: Estate agents on the high street typically charge between 1% and 3% + VAT of your final sale price. For a £300,000 property, this could mean paying between £3,600 and £10,800.

• Online and Hybrid Agents: Online estate agents generally offer fixed fees, which can range from £300 to £1,500, depending on the level of service they provide. This can be a more cost-effective option if you’re comfortable handling certain aspects of the sale process yourself.

2. Conveyancing Fees

To legally sell and buy property, you will need the services of a solicitor or conveyancer. The cost for this can vary depending on whether you're selling, buying, or both.

• Selling Costs: Conveyancing fees for selling a property typically range from £500 to £1,500. This covers tasks such as drafting contracts and liaising with the buyer’s solicitor.

• Buying Costs: If you're also buying a new property, the costs are generally higher, between £800 to £2,000, as the solicitor will need to handle additional tasks like property searches and ensuring the transfer of ownership is completed correctly.

3. Energy Performance Certificate (EPC)

Before you can list your home for sale, you’ll need an Energy Performance Certificate (EPC). An EPC rates the energy efficiency of your property and is a legal requirement in the UK.

• Cost: Expect to pay between £60 and £120 for this certificate, which is valid for 10 years.

4. Removal Costs

Moving all of your belongings to a new home is a major logistical task, and most people opt for professional removal services. The cost will vary depending on the distance between properties and the amount of furniture you need to move.

• Local Moves: For local moves, removal costs typically range from £300 to £1,000.

• Long-Distance Moves: If you're moving a long distance or require packing and unpacking services, costs can go up to £2,000 to £4,000.

5. Mortgage Fees

If you still have a mortgage on your current home, there may be additional fees involved when selling or transferring to a new mortgage.

• Mortgage Exit Fees: Lenders may charge an exit fee of around £100 to £300 if you're paying off your mortgage early.

• Early Repayment Charges (ERC): If you’re locked into a fixed-rate mortgage, leaving before the end of the term can result in early repayment charges. These can be between 1% to 5% of your remaining mortgage balance.

• Mortgage Arrangement Fees: When applying for a new mortgage, you may need to pay arrangement fees, which can be anywhere from £1,000 to £2,000.

6. Stamp Duty Land Tax (SDLT)

When buying a new home in England, Stamp Duty Land Tax (SDLT) is a significant cost to consider. The amount you pay depends on the value of the property you're purchasing.

• First-time Buyers: Pay no stamp duty on properties up to £425,000.

• Home Movers: Pay stamp duty according to the following thresholds:

  • 0% on properties up to £250,000.
  • 5% on the portion from £250,001 to £925,000.
  • 10% on the portion from £925,001 to £1.5 million.
  • 12% on the portion above £1.5 million.

For example, purchasing a property worth £400,000 would incur a stamp duty charge of £7,500.

7. Surveys and Valuations

Before finalizing a purchase, it’s a good idea to arrange a survey to assess the condition of the property. Different types of surveys come with varying levels of detail and associated costs.

• Basic Valuation: This is required by lenders and costs between £150 to £500.

• Homebuyer’s Survey: A more detailed survey, typically costing between £300 and £900.

• Full Structural Survey: Ideal for older or unusual properties, this in-depth survey can cost between £600 and £1,500.

8. Other Costs to Consider

• Home Staging or Repairs: Making small improvements or repairs before listing your property can help attract buyers and secure a higher price. This can range from £200 to £2,000.

• Redirecting Mail: The cost of redirecting your mail with the Royal Mail is around £33.99 for three months.

Total Estimated Costs

To give you an idea of the potential total costs, here’s an example of what you might expect based on selling a home for £300,000 and buying one for £400,000:

• Estate Agent Fees: £3,600 to £10,800.
• Conveyancing Fees: £1,300 to £3,500.
• EPC: £60 to £120.
• Removal Costs: £500 to £2,000.
• Mortgage Fees: £100 to £2,000+.
• Stamp Duty: £7,500 (on a £400,000 property).
• Surveys: £300 to £1,500.

Total: £13,360 to £27,420.

Conclusion

The costs involved in selling and moving home can quickly add up, but knowing these expenses upfront allows you to plan your move with confidence. Whether you’re selling to upgrade or downsizing, factoring in estate agent fees, stamp duty, removal costs, and conveyancing fees will ensure you avoid any unexpected surprises along the way.

By understanding the full scope of these expenses, you can budget accordingly and make the transition to your new home as smooth as possible.