When you plan on moving to a new home, there are substantial expenses that incur during the process and is undoubtedly one of life’s most stressful times, regardless of the type of home. That’s why it is better to plan and determine a budget before you start unrolling the packing tape.


The deposit you are entitled to pay before moving is the highest single most up-front cost. The deposit comes from your savings or the equity from selling your existing home. Usually, you are supposed to pay 10% of the purchase price of your house as a deposit. However, it varies from person to person. Nowadays, lenders seem to consider 20% of the purchase price as a deposit.

Legal Or Conveyancing Fees

Conveyancing fees are paid to your licensed conveyancer or solicitor, who carries out the legal work on your property purchase and manages the documentation involved in the transfer of ownership of a property. This fee varies depending on the value of the property type and the complexity of the work required. And these are somewhat unavoidable fees and must be included in your budget.

Mortgage Arrangement/Valuation Fee

A mortgage broker charges an arrangement fee while you take out a home loan. The fees vary depending on the mortgage type, but the lower your mortgage’s interest rate, the higher is your arrangement fee. The lender may also carry out a valuation of the property to ensure that the property is worth the money they are lending to you. Therefore, choosing the right and suitable mortgage broker is your main concern who would advise and offer you the best finance package.

Real Estate Agent And Marketing Fees

If you intend to sell your property before moving to your new home, then you need to work closely with a real estate agent to acquire the best possible sale price for your home. While some real estate agents will charge a commission based on a percentage of the sale price, others will consider a flat service fee that stays the same regardless of the selling price.

Marketing is an essential part of the selling process. It eases up your sales process by making your property noticeable to potential buyers. While the cost for these services varies, it is essential that you factor these costs into your budget.

Apart from mortgage, legal, property taxes, among other aforementioned costs, there are a few less-obvious costs that are vital to the moving process.

  • Storage – You may consider not moving to your new home directly on the same day of the relocation. Instead, you may need to put your belongings into storage until you finally move in.
  • Movers – Unless your friends and family members are helping; then the chances are that you may need to hire some help for your relocation. The cost entirely depends on the number of items to be moved and the distance between your old home and new house.
  • Professional house cleaning – A deep clean out is a must while you start your moving in process. However, you can cut that cost by doing the chores yourself.

At APW Finance, we have home loan experts who make every possible effort to find the right finance product for you. As Sydney’s best mortgage broker, we strive to meet all your needs and render a wide range of products, services and high-quality individual attention. Contact us today for more finance options.

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