Moving is expensive from paying movers, the truck, packing tape, and even your new home. The UK’s home moving cost is estimated at around £8,885, although the figure can vary dramatically depending on your region. As a result, many people focus on finding ways to cut down their costs. But what if you could make some good cash while moving? With how easily cost can build up while home moving, it is practical to be progressive about your finances rather than taking a conservative approach. Here are four proven ways to make some decent cash on your next move.
Negotiate your estate agent’s commission
You cannot make or generate money simply by avoiding unnecessary costs. You are simply holding onto your cash which is also important. However, one proven way to keep and probably make more will be to pay less commission to your estate agent. Everything is negotiable, not excluding the fee you’ll pay to your agent. If your agent mentions 8%, for instance, you can offer less. Your agent may either accept or reject. Either way, you make the final call to proceed or settle for a less expensive estate agent.
Find Out About FSBO
With the increasing number of online house selling platforms, you don’t necessarily need to pay an agent to sell your property. Many have decided on what is described as For Sale by Owner or FSBO. With this practice, you either pay no agent commission or only pay for the buyer’s agent. You can likewise decide your home value by seeing how much others in the location have sold theirs. You would then enlist your home and show it to any interested buyer. Yet, there are some charges involved when using FSBO selling.
You may have to invest more time, but your profit could be huge. Fortunately, property cash buyers such as The Nice Sell can help you sell your home in less time and possibly for more cash.
Understand capital gains
You have the clout for a successful entrepreneur if you can trade something for higher the amount you spent purchasing it. However, you also have a very important element to consider – capital gains, which draws Inland Revenue’s attention. When flipping multiple properties, you are expected to report such incomes on your tax return, but that doesn’t include your main home or principal residence. Contact a tax professional to keep you well-informed about these responsibilities.
Sell the items you don’t need
Before planning every move, make a list of those items you barely use or have no need for and dispose of them. But why throw them away while you may have time to try selling them? Thankfully, there are many ways to sell your household items quickly – from the old fashion yard sales, car boots, and the many online and social media platforms like eBay and Facebook. Of course, selling the items you don’t need won’t simply cut down cost, let’s say in transportation, but you stand to earn some decent cash.