It appears that the British failed to budget for moving expenses each year. According to a recent data provided by propertywire.com, "Failing to budget for the cost of moving home is costing British people £1.3 billion a year." Nearly 13 million experienced moving from one house to another. Moving to a new lent property or to a home that was recently purchased requires finances. However, a third underestimated the cost of moving home and spent significantly more than they originally budgeted as stipulated in a report by propertywire.com.
Almost one-in-four people spent £1,000 over their budget and the typical home mover spent an extra £630 on their switch as further reported by yourmortgage.co.uk. Giving the impression that the main cost has been usually the cost of hiring a removal company and more than a quarter of people underestimated that amount needed for the move. According to a date provided by yourmortgage.co.uk, "Almost a quarter, which is 24 percent also had to pay for a skip or cleaner, despite not budgeting for it."
Other expenses comprises of getting post readdressed and 19 percent were so beat by the move they depend on takeaway dinners thus adding more expenses to the table. 20 percent of those moving home economized by adding storage while organizing their new house. A further 14 percent of movers gave up on DIY projects and called tradesmen to install washing machines or repair toilets as detailed by propertywire.com.
The preeminent way to handle the extra cost of moving house is to plan for the future. The Brits should make a detailed list of expenses and save some extra cash to enjoy the first night without having to worry about money. Moving will always be a part of the British life and being prepared for the future should also be included in the financial plan to prevent miscalculations along the way.
