Cost of selling and buying a new house
06 June 2012, 10:15 PM
#1
Cost of selling and buying a new house
Thinking of selling my house, as I need something bigger.
I bought the house for £220k, hoping to get £245k - have spent £30k on the house - extension etc...
Have booked in 5 people for the valuation.
No onward chain, as if we get a serious enough buyer...we will rent for a few months till we find another house.
Not looking forward to the headache of selling! Any pointers?
New house will cost between £280 - £300k
Deposit aside, what are the costs I need to take into account?
I bought the house for £220k, hoping to get £245k - have spent £30k on the house - extension etc...
Have booked in 5 people for the valuation.
No onward chain, as if we get a serious enough buyer...we will rent for a few months till we find another house.
Not looking forward to the headache of selling! Any pointers?
New house will cost between £280 - £300k
Deposit aside, what are the costs I need to take into account?
06 June 2012, 11:10 PM
#3
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about 6k stamp duty fees
approx 2k estate agents fees
possible fees for trying to set up new mortgage
1-1.5k if necessary for removals and storage of furniture etc
1-1.5k solicitors fees and searches
i just bought a new place and put a private sale/let board outside (get out properly printed up for £25) my old home and got a let within a week. forget the estate agents if you have time and sell privately. estate agents are the biggest waste of space, time and money i know of.
unless you are moving out of a town or city to get a bigger place then upgrading your house to one for 30-40k more is simply not worth doing due to the costs
good luck
approx 2k estate agents fees
possible fees for trying to set up new mortgage
1-1.5k if necessary for removals and storage of furniture etc
1-1.5k solicitors fees and searches
i just bought a new place and put a private sale/let board outside (get out properly printed up for £25) my old home and got a let within a week. forget the estate agents if you have time and sell privately. estate agents are the biggest waste of space, time and money i know of.
unless you are moving out of a town or city to get a bigger place then upgrading your house to one for 30-40k more is simply not worth doing due to the costs
good luck
06 June 2012, 11:19 PM
#4
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I dont envy you mate,buying or selling a house in this country is a very costly/stressful affair.
When I sold my old house 5 years ago through an estate agent their fees would of been nigh on £3000 but it all fell through anyway.I put an advert in my local paper & a local business man bought it for cash.Cost me £35 in the end.
When I sold my old house 5 years ago through an estate agent their fees would of been nigh on £3000 but it all fell through anyway.I put an advert in my local paper & a local business man bought it for cash.Cost me £35 in the end.
07 June 2012, 11:30 AM
#6
Avoid the estate agents , you end up practically doing their job for them anyway , definatly not worth the cost. They say moving house is stressful , its not , its all the other stuff that comes with it.
Are u sure the value of your house will be higher than what u paid ? You may be unfortunetly dissapointed. Wait till u get a value 1st , then worry about the xtra costs.
Are u sure the value of your house will be higher than what u paid ? You may be unfortunetly dissapointed. Wait till u get a value 1st , then worry about the xtra costs.
07 June 2012, 12:58 PM
#7
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could prove useful - shocked the **** out of me tbh.
http://www.providentsolutions.co.uk/...Calculator.htm
http://www.providentsolutions.co.uk/...Calculator.htm
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07 June 2012, 09:14 PM
#10
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stamp duty would be 9k its 3%up to 500k-should know this as i just paid hmrc 13.8k stamp duty for my house! i try not to think about handing that over for **** all in return, did'nt even get a thankyou letter
08 June 2012, 10:01 AM
#11
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my house was 200, knocked them down to 194 now my remortgage valuates my house at 185. Great.
Other house in the street are going for 200-230. Now I have to find another lender who isnt a d1ck. (Barclays btw)
Other house in the street are going for 200-230. Now I have to find another lender who isnt a d1ck. (Barclays btw)
08 June 2012, 09:43 PM
#14
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As somebody has already said no point selling a house for £245k to buy one for £280k in the same area. Makes some sense if you are moving to a cheaper/different area and £280k will suddenly buy you twice as much house.
Otherwise the money wasted in moving costs is too high when compared to what you gain.
Stay put until you can afford a house of £350k+ imho
Otherwise the money wasted in moving costs is too high when compared to what you gain.
Stay put until you can afford a house of £350k+ imho
08 June 2012, 09:59 PM
#15
Hmm, that actually makes sence!
I'm in a bit of a pickle..we now have 3 kids, 2 girls and 1 boy, aged, 5, 3 & 1...
Current house is a 2 bedroom...
But I will do my numbers again see what I need to save for a more expensive house..I guess it will involve a larger deposit and more stamp duty costs..
I'm in a bit of a pickle..we now have 3 kids, 2 girls and 1 boy, aged, 5, 3 & 1...
Current house is a 2 bedroom...
But I will do my numbers again see what I need to save for a more expensive house..I guess it will involve a larger deposit and more stamp duty costs..
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