Should You Move Or Improve Your Home?
Should you move or improve your home?
The past few years have seen many UK homeowners choosing to improve their current homes rather than moving. It’s not just as simple as selling your house to pay for buying another. The Independent reveals the hidden costs of moving.
A conveyancer handles all of the legal paperwork involved in buying and selling a home. They are paid to carry out a local search to discover if any new developments are being planned around your new location. They are also obtain the title deed for your new home.
You should expect to pay £600 if you are selling a £100,000 priced house. The fees will be closer to £800 on leasehold properties as the conveyancer will need to check the lease.
Estate agents’ fees
After looking around your home, an estate agent will value your property and propose a selling price to you. For marketing your property, an estate agent will take anything between 1.5% and 3% of your home’s selling price.
Stamp duty tax
Since March 2012, there’s no stamp duty relief for first time buyers. This is the tax that you pay for the paperwork to change a property’s ownership. The amounts depends upon the selling price of your new home, but expect to pay between 1% and 7% of the price. This means that at the lower end, a property costing £125,000 will cost you £1,250 in stamp duty.
House Contents Removal
To move within a 15 mile radius of your current home, removal men will typically charge you £1,500. On average, it’s about 12% of your total moving costs.
What Are The Benefit Of Improving Your Home?
Improving your home can be a very good investment. It’s cheaper to make space than buy it. Converting your loft can create space and would add £60,000-£75,000 to the value of a £500,000 property.
An extension priced between £30,000 and £50,000 could add the most value of all, upping your selling price by £75,000 to £100,000.
At Langleys we specialise in project management and interior design with bespoke fitted furniture to make you feel like you’ve got a new home without actually going anywhere! With your own personal project manager and 45 years of interior design experience, we help you relax and enjoy the transformation.
More Bedroom Storage
Clever fitted bedroom furniture can help make the most of the space available without needing to get more.
Top Of The Wish List: Luxury Bathroom
One of the top items on people’s wish lists is for a larger and more luxurious bathing area. Our bespoke bathroom designs and innovative solutions will help create the bathroom you have always wanted. We will also project manage everything from design to the finished bathroom installation.
Have a sneaky peak at lots more interior design ideas for the home here. For an appointment with the design team, or advice on how to improve your existing home without moving, please call us on 01204525432.