A step-by-step guide to cutting costs when moving ¦ Property Guides on Times Online

1.On average people move 3.4 times during their lifetime according to Abbey Mortgages.

2.The average cost of selling a home as put at £4,666 by the Woolwich Cost of Moving Survey 2007 while the average cost for buyers was £19,745.

3. The main outlay for buyers is stamp duty which contributes on average £9,750 to buyers’ costs.

Related Internet Links

• Property guides

A guide to househunting on the web

Househunting goes high-tech: technology is transforming the way we search for our next home. Our buyers test-drive top property websites

• A step-by-step guide to selling your home

• Gumtree founder, Simon Crookall, puts his £1.5m home for sale online

BACKGROUND

• Why can’t we sell our home?

• ‘I didn’t want a profit; I just wanted out’

• How to sell your home in a hurry

BACKGROUND

• Overseas property: where, how and what to buy

• How to get onto the property ladder

• Guide to buying above a shop

BACKGROUND

• How to sell your home

• Buying a property at auction

• Home improvement

• Eco homes

• Step-by-step guide to buying your first property

Related Links

• A step-by-step guide to cutting costs when moving

4.Nearly half (44%) of homeowners forget to budget for legal fees, stamp duty and even a property survey when buying a property. Fewer than one in ten put money aside for moving costs according to research by Yorkshire Bank.

5. A study by AA Legal Services has found that because home buyers are stretching themselves to the financial limits to afford their home, many are cutting back on basic checks which could cost them dear in the long run. Just one in four prospective home buys commissioned a structural survey of their property or checked for flood risk.

6.Since 14 December 2007, it has been compulsory for all homes which are put up for sale to have a Home Information Pack (HIP) which will include the sale particulars, local searches and evidence of title. The pack must also include an Energy Performance Certificate. In theory HIPs are meant to reduce buyers’ costs but this will depend whether the buyer’s solicitor accepts the searches provided.

7. According to a survey by Abbey, the main reason people have moved in recent years is to get away from crime and live in a safer area. Other reasons were to escape unruly ‘neighbours from hell’ or to be in better school catchment areas.

8. The Land Registry, which records property sales, processes around £1m of property every minute in England and Wales.

9. Spring and summer is when most people move says the British Association of Removers. The most popular days to move are at the end of the week (particularly Fridays), at the end of each month (people in rented accommodation like to stay as long as possible) and at the end of each quarter. It’s also busier in the summer school holidays as families like their children to start their new schools at the beginning of the academic year.

10.One of the hidden costs of moving is having your phone reconnected at your new home. According to u.Switch.com, customers can find they have to pay their existing phone company up to £195 for this service.

Five useful websites: