A recent detailed survey carried out by Admiral Home Insurance has uncovered some fascinating statistics about how people view the costs associated with moving home, and how under prepared much of the population is.
• Over a third of Brits admit they could have done more research into the cost of moving home
• 83% of Brits say they’d have to rely on others to help them transport their belongings to a new home
• Brighton is the most expensive city for house movers, Birmingham is the cheapest
• A third of people use storage facilities when moving home
• 46% of people said they took time off work last time they moved, with most people taking between 3 and 6 days off work
A new UK-wide investigation by Admiral Home Insurance has revealed that Brits need to budget an extra £2,000 when it comes to buying or renting a new house, or risk being caught out by some unexpected costs.
While there’s lots of noise around the cost of deposits and associated legal fees for both buyers and renters alike, the costs don’t end there.
The most expensive city to move house
Aside from deposits, legal fees and paperwork, Admiral’s investigation found that renters and buyers in the UK should budget an extra £2k for these hidden costs of moving house:
|SERVICE||AVERAGE UK COST|
|Home removal service||£353|
|Painting and decorating||£873|
On top of these costs for moving from one home to another, and getting the new property ready for your arrival, many people have to factor in additional costs such as childcare or pet care.
Aside from deposits and legal paperwork, people moving in Birmingham face the lowest costs for actually moving home followed by Newcastle and then Plymouth. Brighton is the most expensive city for house movers outside of London, followed by Southampton and then Oxford, as revealed in Admiral’s cost of moving calculator.
Over a third of Brits say they weren’t fully prepared for the cost of moving house and admit they could have done more research to help inform their budgets.
Time out to move
46% of Brits took time off work last time they relocated and most people who take time off to move, take between 3 and 6 days off work. The average day wage in the UK is £105.80 which means people moving house could potentially be losing out between £317 and £634 for moving house if they take unpaid holiday to move house.
Getting from A to B
Research from the home insurer revealed that the majority (83%) of people couldn’t fit all their belongings in their car, meaning they would have to rely on friends, family or professional services to help them move.
While 45% of movers say they’d call upon a home removal company to help them move house, one in 10 people admit they didn’t budget for this service despite having to use it last time they moved home. Admiral found that the average cost of using a home removal company in the UK tots up to £353 (from a 2 bed to a 2 bed within a 10 mile radius), and people can expect to pay more if they want help safely packing everything up.
Exeter was the most expensive city for home removal services with an average price tag of £495, while people in Birmingham pay the least – with an average cost of £247 for help moving.
|Home removal service|
|Birmingham £247||Exeter £495|
|Belfast £258||Manchester £470|
|Newcastle £276||Brighton £464|
A quarter of home movers in the UK say they’d hire a van to drive themselves if they had to move tomorrow. The average cost for this in the UK is considerably cheaper than using a home removal service at £84 per day. For those opting to drive the van themselves, movers in Norwich get the best deal with vans available to hire from as little as £50 a day, while those in Nottingham face paying just over double that with an average price tag of £109.
A safe space while you wait
A third of people have used storage facilities when moving between properties in the UK, with one in 10 people keeping their belongings in storage for between six months and a year. The average cost for self-storage in the UK ranges between £532 for six months and £1,064 for a year’s worth of storage.
Those looking to store their belongings in Brighton face the highest rates with six months of storage setting them back £852. Storage facilities in Leeds are considerably cheaper with six months costing £354 – less than half the cost of Brighton.
These costs were based on one-week storage for a 75sqft storage space and multiplied to give a six-month cost.
Before you leave
Admiral’s investigation revealed that home owners are more house proud than renters, with one in 10 admitting to having their house professionally cleaned before moving out, ready for the new occupants. People in London were more likely than any other region to use professional cleaners, followed by Oxford and then Leeds. 14% of Brits admitted they had their new home cleaned before moving in.
Putting your own stamp on things
A fifth of people say they used a professional painter and decorator last time they moved to a new house, to put their own stamp on their new pad. The cost for sprucing up a two bedroom house with a fresh lick of paint will set people in East London back the most in the UK, with professional painter and decorators charging £1,183 on average. Southampton painters charged the most outside of London for the same job, coming in at £1,066.
Birmingham was the cheapest city for painting and decorating, with the average quote coming in at £656, followed by Newcastle (£700) and Manchester (£716).
You can find the full report here: https://www.admiral.com/sites/admiral-drupal-site/files/2019-05/Admiral%20-%20True%20Cost%20of%20Moving%20FINAL.pdf