Almost 13 million adults moved house, either to a new rented property or to home they are buying, in the past two years. However, a third of them underestimated the cost of moving home and spent significantly more than they originally budgeted.
In fact, almost a quarter of those who under-estimated costs spent more than £1,000 over their planned budget. On average, home-movers spent an extra £630 each.
The top reason for over-spending was miscalculating the cost of a removal company, with over a quarter falling prey to this. A further 24% had to unexpectedly pay for a skip, a cleaner or to get their post redirected. And 19% were so exhausted from moving that they opted for takeaway dinners.
Some 20% of those moving home downsized and had to pay for storage while organising their new home. A further 14% of movers gave-up on DIY projects and called tradesmen to install washing machines or repair toilets.
Gareth Shilton, spokesman for Ocean Finance, said:
“When you are thinking about moving house, it’s very important to consider the real cost of moving. The best way to cope with the extra cost of moving house is to plan ahead so you know exactly what you’ll have to pay for. Make a detailed list of your expenses and save some extra cash so you can enjoy your first-night takeaway guilt-free.”
