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 links
Handy Brits Value of House up By GBP 5000Homebuying Confuses British Youth
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Property Buying Guides
How to Plan a Move
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