The UK’s Rising House Prices and What to Consider When Moving in 2021

For many people, the start of a new year means new beginnings. It feels like a good time to get a fresh perspective on your life and where you stand, while it is also an opportunity to make a change where necessary.

If you are a homeowner or someone thinking about getting on the property ladder, that may mean reviewing where you live and even considering a move. The UK market has attracted plenty of interest in recent months and a new study has suggested that it is in rude health.

On the rise

At the start of December, The Guardian reported on new figures from Halifax and how they suggested that the value of properties in the UK has been on the rise. The lender stated that the average property price in the UK now stands at more than £253,000, with this meaning that values have risen by around 6.5 percent since June.

Halifax added that the figures meant the market has experienced its strongest five-month period for around 16 years.

Such findings may have got plenty of people thinking about whether they should sell their homes and plan a move elsewhere. But, if you’re among them, you might be wondering about the best way to go about such matters. Here we offer up a few pointers on some key issues to consider.

Check affordability

First up, you will need to consider what you may be able to borrow when looking to move to a new house. Fortunately, a service like Trussle’s mortgage calculator may come in handy when you are tackling this.

The platform allows users to enter information like their annual salary, their partner’s salary, and the deposit amount to get a steer on what they could borrow. There are guides relating to the calculator and what this means for you.

Once you have entered this information, you can then use other aspects of the Trussle site to compare deals from various lenders.

Key costs

Once you have decided to go ahead with a move, you will then need to consider some other key costs. These include legal fees, while you may also want to check out other issues like how much you can expect to pay on utility bills. Another matter to consider is council tax and you can use the Gov.UK website to check the band that a new property might fall into.

Getting from A to B

Finally, another key issue to consider is how you plan to get your belongings from your current property to a new home. One approach might be to put some items into storage and move things in different stages, while another may be to make use of a removals firm. Again, this may be another cost you will have to consider from the outset.

Time for a change?

It is seemingly an exciting time in the UK property market at the moment and, with a new year approaching, many people may be thinking about whether it could be time for a change.

Moving house is a major step to take, but hopefully, the suggestions above might have given you an idea of a few of the basics that you will need to consider.

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Mohit
Hello friends, I am Mohit, the author of andoverleader. I have a passion for writing, and I put in all my efforts to provide my readers with what they are looking for, through my articles.

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