HOME-movers in Belfast spend an average of £4,976 in total home moving expenditure, when taking into account both associated and known costs, analysis from Barclays Mortgages shows.
And 50 per cent of people in Northern Ireland have been caught out by unexpected costs of moving, while 40 per cent of people claiming that that moving house caused them worry and anxiety
According to Barclays, the average upfront cost of moving home in Belfast, including estate agent, legal and surveyor fees, land registry, EPC and stamp duty, is £3,226 on top of the purchase price.
Then the average unexpected associated costs - including childcare, self-storage, decorating and pet-sitting fees - can add on a further £1,750, meaning homeowners are stumping up nearly £5,000 for their dream move.
However, that's well below the overall UK average of £9,331, made up of £7,641 for expected costs and £1,690 for the hidden extras.
The Barclays analysis looked at the average upfront cost of moving by city across the country, and found that across the UK, costs vary significantly.
Liverpool residents, for example, expect to pay just £2,787, compared to a whopping £22,417 spent in upfront costs for those looking to purchase a typical property in London.
For homebuyers also selling their own property, estate agent fees can play a major part in costs. For example, those selling a property in Oxford on average pay £5,783 in estate agents fees compared to £1,780 in Glasgow.
The most commonly unanticipated costs include buying new furniture that didn’t fit in the new home (43 per cent), decorators/DIY help (34 per cent) and the need to buy takeaways for the first few weeks after moving in the absence of a fully functioning kitchen (26 per cent).
Daniel Wallance, branch manager at Barclays in Belfast, said: “Buying a house is a huge financial moment and the lead up to your dream home should be as stress-free as possible. But on top of the burden of expected costs, home-buyers are getting caught out by additional costs that aren’t included in the asking price.
“To balance the budget, try to plan ahead and challenge what home move costs you could cut down, or better yet, if there are any you can cut out. Enlisting friends and family to help out could really save the pounds too.”
