How much money do I need to move house?
The answer is not simply your deposit. A realistic cash requirement combines the deposit with property tax, legal and mortgage fees, surveys and moving costs, then accounts for any usable equity released from your existing home.
A simple way to think about it
Deposit + purchase costs + moving costs − usable sale equity = additional cash required.
If your sale equity exceeds those costs, the result instead shows the estimated equity remaining after the move.
What cash should you allow for?
Start with the deposit for the property you are buying, then add the transaction and moving costs that must be paid from available funds. Depending on your move, that can include property transaction tax, conveyancing, mortgage or valuation fees, a survey, removals, storage and smaller setup costs.
If you are also selling a home, do not treat the headline sale price as cash available for the purchase. First allow for the outstanding mortgage and selling costs. The equity left after those deductions is the amount that may be available to support the next move.
Buying and selling at the same time
Home movers often have money flowing in and out of the transaction at the same time. A practical budget therefore needs both sides: what the sale is expected to release and what the purchase and move are expected to consume. MoveBudget combines those figures so you can estimate the additional cash you may need rather than looking at the deposit in isolation.
Costs people can miss
Alongside the deposit, remember legal fees, survey costs, mortgage fees, removals and any property tax due on the purchase. Sellers may also have estate-agent fees, legal costs and mortgage exit or early repayment charges. If your quotes are not final yet, use planning estimates and replace them as real figures arrive.
A simple worked example
Suppose your deposit and purchase costs come to £70,000 and the wider moving costs add another £5,000. If your current home is expected to release £60,000 of usable equity after its mortgage and selling costs, the additional cash requirement would be about £15,000. The purpose of the calculation is not to predict the completion statement to the pound, but to expose the gap early enough to plan for it.
Keep the estimate current
Property taxes and individual fees depend on location and circumstances, while professional quotes can change. Revisit the budget when your sale price, purchase price, mortgage redemption figure or legal and moving quotes become firmer. Before exchange or completion, confirm the figures with the relevant solicitor, lender, agent or tax authority.