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Millions of Brits get hit with the unexpected costs of moving homes

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09/08/2012
Households are set to get hit with extra costs as they fail to budget in any unexpected cost of moving, according to the Money Advice Service.

The survey asked over a thousand home-movers, who had moved in the last three years, about their recent experience and the cost.

68% said it was surprising how the costs add up during the moving process, with a further 37% saying that the costs they did rack up was more than they had budgeted for.

A fifth of those polled said that the costs were unexpected entirely.

Jane Symonds, Head of Service Delivery for the Money Advice Service, said: “Our research highlights just how many householders – renters and buyers – underestimate the expense of moving day. It’s important to be realistic about the costs, which can rack up and catch you by surprise if you don’t plan ahead.

“We urge householders planning a move to be smart and get a grip on the cost. Our new Smart Mover calculator is specifically designed to show you what your move could cost. And it will help you budget for other essential elements on the day to make your move as smooth as possible.”

The Money Advice Service has launched a new service to help UK households during the ‘moving’ season, as an estimated 200,000 houses will be on the move over the summer period.

To help home-movers prepare for the overall cost of moving day, the Service has created a free online tool called Smart Mover – more >>

 

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