Moving costs are too depressing

As I have mentioned before, we have moved in the past month. So much has changed! It was nearly 30 years since we last sold and the cost of doing so has risen alarmingly, not just with inflation! There are extra costs involved with EPC reports, marketing involves glossie brochures to keep up with the competition! ( fortunately these were 'included' in our fees!)
The solicitors costs for searches etc. are more detailed and thus cost more. Also you have to prove where the money is coming from, for money laundering legalities!

If you require a mortgage ( we didn't ) there are other fees associated with arranging it and extra surveys that were not there when we had a mortgage.

I was happy to see that packing, removal, and storage were within the prices we expected! No wonder people are staying put and extending, upwards, outwards and downwards!
Moving is not to be entered into lightly, nowadays.

On the Rightmove website they have a moving costs calculator.

Well I guess they weren't exaggerating then

No. That's what I thought too. But...the house was some figure over a million pounds (and only a wee terrace!) not sure exactly but the stamp duty was upwards of £65,000. The estate agency charged something like 1.5% on the sale of the original house and that ended up being (all the figures approximate as can't remember the exact ones but the ballpark stayed with me because I was so shocked) £15,000 so that's £80,000 before you factor in surveys and solicitors for buying and selling and searches and removal vans and so on. I can see how it would have been at least £90,000. It's terrifying. Not sure how anyone in London manages to move ever

pennylope they must of included the deposit in those costs as the average costs for moving in London are below 20K according to the National Statistics Office.. I did think 100K was an OTT figure as my friend moved within London in the last two years and it cost less than 10K including all the other fees as well as moving..

That is north London for you

It's ludicrous

A hundred thousand pounds in moving costs?

You could buy a small terraced house for that round here!

If you want to hang on to some savings then the only answer really is to stay put or buy something that leaves enough from the sale of your present house to pay the fees and moving costs.. can't think of any other alternative.

I feel for you. My DD has been in this position recently in London. They were very lucky that their house had gone up since they bought it and were delighted to think they had equity for a new property. But it's all a bit meaningless because the rises in London have meant upsizing is impossible for most. So unless they move away it doesn't really do them any good at all.

A friend of theirs moved recently and paid nearly a hundred thousand pounds in moving costs! (Stamp duty, agent fees for selling, solicitors and surveys and various other charges) And no it wasn't a mansion it was a 3 bed and a box room terrace in an ok area but no parking that they bought. The world has gone mad