Thinking of selling your house? Whether you’re upgrading, downsizing, moving to the city or relocating to the country, it’s worth getting clued up on the cost of selling a house before you plan your next move.
From estate agent fees to energy performance certificates, surveyors, conveyancing and removal costs, there will be a number of elements to include in your budget. If this is the first home you’ve sold, many of these fees can present themselves as nasty surprises.
To help you get to the next rung on the property ladder, we’ve put together the following guide to breakdown the average costs involved in the transaction.
|Cost provided item||Unit||Average UK Cost|
|Estate agent fees||1.18% of house price||£2,765|
|Conveyancing fees||Fixed fee||£1,000|
|EPC fees||Fixed fee||£67.50|
|Mortgage fees||Arrangement fee||£550|
|Removal fees||Hourly rate (2 hour minimum)||£60 p/h|
How much does it cost to sell a house?
The total cost of selling a house will depend on a whole host of factors, including your home’s sale price and the companies you choose to work with for the transaction.
Factoring in the fees for each part of the process, it costs £5,852 to sell a house priced at £234,370 – the average UK house price.
Below, we’ve set out the typical costs and rates for each stage of the process.
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The costs of selling your home: a guide to the typical fees involved
There are a number of costs associated with selling a house that you will need to factor into your budget. These include:
When an estate agent successfully sells your property, they will typically charge between 0.75% and 3.5% of your home’s sale price. The exact fee will vary between companies, as well as location and the value of your property.
While some may offer a fixed rate, it’s more common for estate agents to take a percentage of the sale price. In the UK, the average is 1.18%.
Working on the UK average house price stated above, estate agent fees would come out at around £2,765.
If you’re selling your home and still have a mortgage, you have two options. Either you broker a new deal, or you take the same deal with the same lender to your new property. Both options can come with additional fees worth keeping in mind ahead of the sale.
If you choose to port your mortgage and the amount you’re borrowing increases, arrangement fees will sit between £100-£500. If the amount you’re borrowing decreases, there may still be an early payment fee of around 1-5% of the differential loan amount.
For remortgaging, some lenders will charge little to no arrangement fees at all. Others may charge in excess of £1,000. Although the obvious choice would seem to be the lender with low fees, it’s often the best mortgage deals that come with arrangement fees attached. Arrangement fees will either be a fixed amount or may be based on a percentage of your mortgage.
Having purchased property, you will be familiar with the conveyancing process – the transfer of land and property from one person to another.
Just as when buying a home, a qualified conveyancing solicitor will charge a fee for selling a house.
The average legal fees for selling property in the UK are around £1,000, although prices will vary between law firms.
Online conveyancing solutions may prove cheaper, but we recommend digging around for reviews to ensure a smooth process. The last thing you want is for unnecessary hurdles or complications to stand between the sale of your property.
Removal fees are part and parcel of selling a house, so it’s best to account for these in advance. If you’re hiring a removal company, the cost will be calculated as an hourly rate – typically between £50-60 p/h for 2 professionals and a van with a 2-hour minimum charge.
For long-distance moves (i.e. beyond a neighbouring town or city), removals can cost anywhere between £450 for a 1 bed flat and £1000 for a 4 bedroom house. Save yourself the costs by doing as much packing as you can manage yourself.
An Energy Performance Certificate (EPC) is a report that sellers are legally required to obtain ahead of the transaction. It details exactly how efficient your property is and the impact it has on the environment. Obtaining an EPC costs between £35 and £150 (including VAT), although costs will differ depending on the size and type of property.
Overview of costs to sell a house
- The average cost of selling a house with a value of £234,370 is £5,852
- Estate agents typically charge an average of 1.18% of the sale price
- Conveyancing costs range between £1000-£2000.
- Mortgage fees can range anywhere between £100-£1000 depending on the option you choose.
- Removal fees cost between £35 and £150 on average
- Removal fees can range anywhere between £120 and £1000 depending on the scope of the work, the size of the property and location of your new home.
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