Business School

If the uncertainty over house prices is causing you to sit tight in your current property rather than move, you are not alone! Not only are house prices dropping but the costs of moving home have soared and many more people are considering it more economic to make home improvements than move.

Let’s take a closer look at the actual costs of moving itself.

Don’t forget the cut for the agents. They are hurting this year. Remember that they are completely commission driven.

Then you have taxes. Taxes will take a huge bite out of your earnings (or loss) from a sale.

Then there are solicitors and their legal fees which will account for £1,000 upwards depending upon the values of the properties you are buying and selling. Next come removal and possibly storage costs, and all the associated costs of transferring utilities, telephone lines and a myriad of other items. That will take care of at least another £1,000.

Add all this up and you will be amazed at how much of the money you clear from the sale of your house doesn’t end up in your pocket.

Look at it like that and it’s easy to see why many people are opting to think about shelling out on home improvements rather than go through the stress and incur the financial costs of moving.

Maybe find other ways to make your life better and keep the old house for a while until the economy and housing market are stronger.

Tags in this post: Big Make Money, Business Sale, Business Home Now