The cost of moving house has exceeded £32,000 due to hidden expenses such as deposits and energy bills, according to HCB Solicitors.
First-time buyers might pay over £29,000 before entering their new home, alongside the £32,065 total for moving expenses.
The Zoopla House Price Index indicated an average UK house price of £267,200, requiring a deposit of approximately £26,720.
Regionally, the largest increases in house prices were observed in Belfast (6.3%), Manchester (3.1%), and Glasgow (2.8%).
Currently, the average 2-year fixed-rate mortgage is 5.09%, while a 5-year fixed rate is 4.86%, potentially costing homeowners £1,418 a month.
Research also shows that after arranging a mortgage and a choosing a property, instructing a solicitor becomes necessary, with fees ranging from £500 to £1,500, and property surveys costing between £300 and £1,200.
Securing home and contents insurance is another important step, with the Association of British Insurers stating the average cost is £396 annually.
Other necessary expenses include van hire for £167 a week, council tax at about £181 monthly, energy bills at £143 monthly, broadband with installation fees around £126.90, and water bills at £39.42 monthly.
Essential household goods, such as a washing machine and oven, can cost approximately £378, with basic beds and mattresses totalling around £338.
Martin Edwards, senior associate solicitor at HCB Solicitors, said: “House prices have increased by 1% this year and are expected to grow by another 2.5% in 2025, although this will come as welcome news for those selling, it does mean that the cost of moving in will increase.
“Buyers need to be prepared not only for higher house prices but also for the growing costs associated with securing a home.
“The cost of surveys, solicitor fees, and additional expenses like insurance and moving costs can quickly add up.
Edwards added: “For first-time buyers, this could mean an extra financial burden on top of an already expensive property market.
“It’s important for prospective homeowners to be fully aware of all these costs before they take the plunge.”
