Moving house puts you back £23,800 over a lifetime.
A new Co-operative Bank study shows "hidden" costs like solicitors' fees, removal costs , stamp duty and estate agent fees are not often calculated accurately.
House prices have gone up so it is crucial for people to scan the bigger picture vis-a-vis costs.
Given high mortgage costs, other non-budgeted costs soon mount up.
Just over half (56%) of Brits have a contingency fund to cover hidden costs, whilst 15% of home movers resort to further loans as well as credit cards to cover such costs. A further 5% rely on relatives for assistance.
Given such rising costs, a clear majority of Britons (57%) do not wish to make sacrifices to afford the property they are after.
Out of those who do make sacrifices, a quarter skip holidays abroad, with 20% sacrificing eating out and as many giving up purchasing new clothes.
A tenth of us change careers , or delay starting a family.
Buyers and sellers ought to do their research prior to buying a house as it is such a complex process. This also ensures that one's finances are healthier in the future.
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Cost of Moving Home is GBP 23,800 Thu, 14 Jun 2007
     Recommended linksHandy Brits Value of House up By GBP 5000Homebuying Confuses British Youth Homeowners Demand for Mortgages Down Homes More Expensive for First Time Buyers Cost of Moving Goes Down First Time Buyers Willing to Give Up Holidays to Buy Homes Property Buying Guides How to Plan a Move |
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