Average Brit forks out an extra £4,000 to fix unforeseen problems in new home

The average Brit is hit by nearly £4,000 of unexpected costs when moving home – with half forced to borrow cash to cover the bill.

The full cost of a move

Our new study reveals two-fifths of (40%) UK homeowners failed to factor in the full costs of their move.

The average Brit forks out an extra £3,876 beyond their budget to fix unforeseen problems like a broken boiler or a leaking roof soon after getting the keys to their new home.

Half of those who fell short admitted they borrowed cash to fund the expense – with a third (36%) using credit cards or loans and over one in 10 (13%) asking friends or family for help.

The most common complaint among movers was a broken boiler, with one in three (32%) Brits saying their heating stopped working soon after taking ownership.

According to Checkatrade data, the average cost of a new boiler is around £3,000. 

Nearly a third were caught out by a leaking roof (28%) or unexpected fees from their removal firm (28%) while a similar number (27%) found costly mould in their new home.

The cost of replacing a gable roof comes in at an average of £11,875, according to Checkatrade.

Mould removal can cost anything from a £30 an hour to £1,200 for treatment of an entire property. 

More than a quarter (26%) of movers said they found door locks were faulty or keys didn’t work while other complaints included broken white goods (17%) and blocked drains (12%).

As part of the study, researchers quizzed 2,000 homeowners on their most recent move, including asking them to estimate the cost of unforeseen expenses after completion.

With a few home moves under their belt, downsizers appear to be the savviest buyers. Baby boomer Brits aged 60 to 78 paid the least in unexpected costs at around £2,767.

First time buyers and forever homes

Meanwhile, first-time buyers – typically aged around 34 in the UK – were hit by some of the highest costs. Same too for ‘forever home’ buyers, who are more likely aged 44.

Millennials, aged 28 to 43, and Gen X, aged 44 to 59, stumped up the most to cover emergency issues, averaging £4,302 and £4,331 respectively.

Gen Z, aged 18 to 27, reported unexpected costs of £3,412, according to the survey.

Factor a little extra into moving budget

Tom Evans, Sales Director at Purplebricks Estate Agency, said: “After buying, taking ownership of your new home is meant to be a joy.

“However, there is nothing more likely to take the shine off your new dream home than discovering a series of costly problems to tackle once you’re all moved in.

“It is no surprise that older Brits, with their many years of moving experience, are typically paying out less on these unforeseen expenses – but less is not nothing.

“It's essential for all buyers to factor-in a little extra into their removal budget to account for these unforeseen expenses. 

“Planning ahead, understanding potential risks, and building a financial cushion for emergencies can help alleviate the pressure and make the experience of moving into a new home a more positive one.”

Find a reliable surveyor

Jo Pocklington, Managing Director of Mortgages at Purplebricks Mortgages, added: “The crucial thing to do is to find a reliable surveyor to highlight any shortcomings or required renovations early.

"These can be used to help you negotiate a reduction in the asking price and mitigate these additional costs.”

Average costs