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Selling your home is a significant decision that comes with its own set of challenges and expenses. While the prospect of moving to a new place is exciting, it’s crucial to be aware of the various house-selling fees that can affect your budget and decision-making process.
Understanding these fees, from agent commissions to conveyancing costs, is essential for a smooth and successful sale. To help you set your expectations correctly from the start, we’ll dive into the latest house-selling fees here, along with the most recent associated legislative changes.
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House Selling Fees: What Are the Costs to Sell a House in 2024?
With such a big decision, it is natural for you to want to save as much as you can and get the most value out of your money. Here’s what makes up the costs of selling a property:
- Legal and transaction fees
- Taxes
- Cost of the removal company
Here’s a summary of the average 2024 UK house-selling fees you can expect:
| Type of Cost | Cost Details | Cost |
|---|---|---|
| Conveyance | Solicitor facilitates property transfer | £500 – £1,500 |
| Estate Agent Fees | Usually between 1% and 3% | £4,226 |
| Stamp Duty Land Tax | Depends on price of your home | £1,726 |
| Valuation Fee | Required by your mortgage provider | £150 – £600 |
| Surveyor’s Fee | Property checked for structural issues | £250 – £600 |
| Removal Costs | House removal with packing and disassembly / reassembly | £1,200 |
| Total | Using an average property price of £286,489 in the UK | £9,002 |
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Let’s get into the nitty-gritty of each of these costs to sell a house:
1. Commission Rates for Estate Agents
Estate agents are often the first port of call when you decide to sell your home. Their fees have slightly changed recently, with agents now charging between 0.9% and 3.6% of the sale price, including VAT.
Generally, commission rates for estate agents depend on the level of service you opt for, from a basic listing service to a full-service offering that includes viewings, negotiations, and marketing.
But on average, the high street estate agent fee is around 1.42%, which on a property valued at £285,000 translates to approximately £3,900 in agent commission.
2. Conveyancing Fees
In exchange for handling the legal aspects of the purchase and sale of a property, conveyancing solicitors charge a fee. The typical solicitor fees for selling a house vary depending on whether the property is freehold or leasehold and if a mortgage is involved. But you should be ready to pay roughly between £500 and £1,500 in average solicitor fees for selling a house. Learn more about conveyancing in our detailed article.
For advice on choosing a solicitor or conveyancer, including fees and the process, the Solicitors Regulation Authority (SRA) offers guidance: Solicitors Regulation Authority.
3. EPC Fees
An Energy Performance Certificate (EPC) is mandatory when selling your property. The EPC provides information on your home’s energy use and carbon dioxide emissions, offering insights into energy efficiency.
The cost for obtaining an Energy Performance Certificate (EPC) now ranges between £35 and £150, including VAT. This varies depending on the property size and type.
For current regulations, requirements, and how to obtain an EPC, visit the Energy Saving Trust or the specific EPC page on .gov.uk: EPC Requirements.
4. Home Report Costs (Scotland Only)
In Scotland, selling your home requires a Home Report, providing a comprehensive overview of the property’s condition and value. It includes a property questionnaire, a survey and an energy report.
This report usually costs between £285 and £450 for average-sized homes.
5. Removal Costs
The expense of moving to a new home can vary greatly, primarily influenced by the distance of your move, the volume of items, and the types of services you require.
5.1. Local Moves
If your new home is within the same city or nearby, you can expect local removal costs to range from £400 to £1,200.
5.2. Long-Distance Moves
Relocating to a different city or across the country is more expensive. Long-distance removal prices within the UK start at approximately £450 for a 1-bedroom flat and can exceed £1,000 for larger homes, like a 4-bedroom house.
5.3. Additional Services
Opting for supplementary services like professional packing, special handling for delicate items, or comprehensive insurance will increase the overall cost. It’s worth getting a few quotes to compare prices—that way you can be sure you nail down the best service at the most competitive price.
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6. Capital Gains Tax (CGT)
If selling a property that’s not your main residence, you may be subject to Capital Gains Tax. For the tax year 2022/2023, the rates were 18% for basic rate taxpayers and 28% for higher rate taxpayers on gains exceeding the £12,300 annual exempt amount. Note that the higher rate will reduce to 24% for the new tax year from April 2024.
For the latest information on CGT rates, exemptions, and how to report CGT, visit the HM Revenue & Customs (HMRC) section on the official UK government website: HMRC Capital Gains Tax.
7. Preparing Your Home for Sale
Costs for preparing your home for sale can vary widely depending on the necessary repairs and cleaning. Professional cleaning services range from £15 – £20 per hour, with an average-sized house potentially costing around £150 – £500 for deep cleaning, and £45 – £200 for carpet cleaning.
Repair costs involved in selling a house can range from minor DIY fixes and installing electrical and lighting fixtures or appliances, to more significant issues like boiler or drain repair. Handyman fees in the UK are about £50 per hour, depending on the job and your location.
8. Miscellaneous House Selling Fees
8.1. Auction Fees
Selling a house via auction involves an entry fee of £0-£3,000+VAT and a commission on sale of 2%-3%+VAT. Some auction houses may claim 0% commission, but this cost is often indirectly passed to the seller through the buyer’s offer.
8.2. Mortgage and Early Repayment Charges
If selling a house with a mortgage, you may face an early repayment charge if you’re within your deal period. Charges vary based on your remaining balance, but for a £100,000 mortgage with a 4% charge for early repayment, this could be around £4,000.
For guidelines on mortgages, including advice on early repayment charges, the Financial Conduct Authority (FCA) provides resources and regulatory information: FCA Mortgage Lending Statistics.
Reduce Your House Selling Fees Now
Selling your house involves significant costs, but you can take control. Start by comparing the best removal quotes to cut down on expenses.
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