Millions hit by surprise costs involved in moving house, research suggests
10-08-2012
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Also over a million of home movers are surprised by what they describe as unexpected costs for which they hadn’t budgeted, the research from the Money Advice Service reveals.
The survey, commissioned to launch the Service’s new Smart Move campaign, asked over a thousand home movers who’d moved in the last three years about their recent experience and the cost.
Some 68% said it was surprising how home moving costs added up, some 37% who incurred costs said the cost of moving was ‘more’ than they expected and 20% admitted they incurred costs which were ‘unexpected’ or ‘overlooked’.
The research also found that 72% of recent movers agreed that a quick and easy source of typical moving costs would be useful.
On average, movers who incurred moving costs spent £694, but the amount differs depending on age and gender. On average, movers aged 55 and over spent £1,090 in contrast to £423 for movers aged 18 to 24.
Designed specifically to help home-movers budget for moving day, Smart Mover indicates how much their move from A to B could cost, and allows them to adapt their budget and shop around accordingly ahead of moving day.
It provides estimates from up to four members of The British Association of Removers (BAR) and highlights additional costs which might typically be forgotten. Sliding scales allow users to scale their budget accordingly. The tool also offers handy tips and hints to smooth the move.
‘Our research highlights just how many house holders, renters and buyers, underestimate the expense of moving day. It’s important to be realistic about the costs, which can rack up and catch you by surprise if you don’t plan ahead,’ said Jane Symonds, head of service delivery for the Money Advice Service.
‘We urge householders planning a move to be smart and get a grip on the cost. Our new Smart Mover calculator is specifically designed to show you what your move could cost. And it will help you budget for other essential elements on the day to make your move as smooth as possible,’ she added.
