It is said that moving home is up there with death and divorce in terms of the stresses that life can throw at you But if you’re organised and plan ahead the stress can be minimised and your move will hopefully be pretty straightforward .
SO WHAT DO YOU NEED TO KNOW TO ENSURE YOUR HOUSE MOVE GOES WITHOUT A HITCH?
Buildings Insurance Many people make the mistake of not insuring their new home until the day of completion, but buildings insurance is essential from the time you exchange contracts. This is the point when you become legally responsible for the bricks and mortar of your new home. Buildings cover will also be a condition of your mortgage offer. You should insure your home for the rebuild, rather than market value. The level of cover you need should be stated in your surveyor mortgage lender’s valuation. Bear in mind also that, if the property is going to lie empty for a period of months while being renovated, you need to inform the insurer.
Contents Cover Unlike buildings insurance, contents cover isn’t obligatory but for your own peace of mind it really is a must. If you already have insurance in place, check what the state of play is with regards to the protection you have when your belongings are in transit. Also, remember to inform your insurer of your change of address, otherwise the contents of your home won’t be insured in your new property.
If you are using a professional removal firm to orchestrate the move, it will probably have insurance that protects against loss or damage A certain level of insurance is often included in
the price, typically £20,000, but you can usually extend this for an extra premium if it’s not enough and your owe insurance doesn’t cover you.
Readjusting your premiums Your insurance premium will almost certainly change when you move (this applies to car as well as home insurance).
“Even if you shopped around before buying your existing home insurance, there’s no guarantee that your insurer will also be the cheapest on your new property It’s therefore well worth getting some new quotes because you may be able to make significant savings by switching to a different provider Be warned, you may be charged a cancellation fee to get out of your existing policy early, so you’ll need to factor this in when working out whether or not it’s worth switching” The easiest way to find the best deal on your home insurance is to use a price comparison site – it compares premiums from more than 70 insurance companies and brokers in a matter of minutes. Independent research shows that people save an average of £131 a year on their home insurance by using such sites.
Moving Administration There are some important things you need to do in the time between exchange and completion.
Council Tax: Contact your local council to tell them you’re moving so they stop charging you Council Tax on your existing property. If your new home is in the same local authority, you can set up your account for that property at the same time. If not, you’ll have to make a second call to the relevant council.
Utilities: Inform the local water authority of your moving date and new address. You should also contact your gas and electricity provider. It’s advisable to do this ahead of your moving date but remember to take final meter readings on the day you move out to ensure you are billed correctly.
You’ll also need to take meter readings at your new home on the day you move in and give them to the provider
Don’t just stick with the energy firm that currently provides gas and electricity to the property as you’ll probably end up paying its standard prices and miss out on some big savings. You can literally save hundreds of pounds a year by switching energy tariff. Online products are the cheapest and you can find the best deal easily by using a price comparison tool.
Phone, broadband and TV: Moving home provides the perfect opportunity to ensure you are also getting the best value on your other home services. You must obviously notify your existing provider or providers to make sure your bills stop when you move. If you are tied in to your existing contract you will probably be charged a penalty for cancelling it – this may be worth paying if you can get a better deal elsewhere