It is fair to say moving home is a stressful activity, and it can be a very costly time too. We know there are many costs associated with buying and selling a home. Most of these costs are listed up front, and will be clear to people.
Of course, there are also hidden costs that aren’t always apparent when you plan your property move. Anyone who fails to account for these property costs, might place their property move in general.
At Intercounty, we aim to help people with every step of the moving process. This includes knowing every cost, and the cost of moving might be higher than you consider!
Have you accounted for all moving costs?
According to newly released research from Direct Line Home Insurance, moving home in the UK could cost more than you think, as almost 4 million items have been lost, damaged or stolen during home moves across the UK during 2020.
Their survey suggests 10.4 million people, or 22% of respondents said their possessions didn’t make it to their new home in the condition they set off in.
Moving doesn’t always run smoothly
The estimated average value of lost, stolen or damaged items comes close to £500. This equates to people paying out £5.1 billion to repair or replace items after they have moved home. These costs have also risen in the past year, placing buyers under greater financial pressure and stress.
In the past five years, it is believed home-movers across the UK have spent around £9.4 billion on removal costs. The average cost of moving home comes in close to £400.
Dan Simson, Head of Direct Line Home Insurance, said: “The last 12 months have seen both a housing market freeze and frenzy due to the pandemic and subsequent stamp duty holiday. As people rush to get purchases completed before the deadline, we expect the next few weeks to be very busy for home moving. This research shows that often it’s this last step that can result in unplanned and unpleasant additional costs, so we encourage movers to take care when in transit.”
Dan Simson also said; “It’s worth checking your contents policy as Direct Line provides covers for loss of, or damage to contents while they are being moved to another permanent residence. Also, remember to take out home insurance for your new property from the day you get your keys and not cancel your policy from your old address until you have completed your move and sale. If you are keen to sell your home, we will make sure you know what your competition is, and we will do everything we can to help you connect with the most likely property buyers.”
If you need assistance from start to end of the sales process, please get in touch.
For property enquiries in Harlow, please feel free to call us on 01279 639666 or why not email us at email@example.com. With considerable experience in the local market, and free valuation services, we look forward to helping you move