One of the main considerations ofselling your home and buying another is of course, how much will it cost?Let’s talk about moving in the current year of 2020. Despite the COVID-19pandemic and quarantine, New Jersey has been a busy place in the real estatemarket. Interest rates are very low and house prices went up by 10.1% (Zebra,2020) which means you can save some money making the MOVE this year than youwould have last year. Let’s go through what costs you will have making the bigMOVE. First, you need the down payment foryour home. This is usually a minimum of 5% the cost of the house you arebuying. Once you put down that money, you will have mortgage closing costs.These are fees for the expenses that are used to finalize a mortgage (Kearns,2019). In New Jersey, closing costs are typically 2-3% of the purchase price. Thereare a couple of property related fees as well, known as the appraisal fee andhome inspection. The appraisal is where you hire a professional to determinethe value of your property. This way, when you need a loan, the lender canverify how much you need which will cost between $300-400. Lenders also usuallyrequire a home inspection that costs about $300-500 (Kearns, 2019). This is tomake sure your house is in good shape before the bank allows you to borrowmoney to purchase your new house. Following these fees, you can also expect topay some assortment of loan related ones such as an application fee or attorneyfee which are different for everyone. Now that we got the technical costscovered, let’s look at the physical MOVE. Of course, the more local your MOVEis, the cheaper the mover’s price will be. For example, a MOVE to a 1 bedroomacross town that will take 3-5 hours to get the furniture in, it only costsabout $200-500. For a family MOVE of 4 bedrooms, it can take 10 or more hoursfor a total cost of $800-2,000. To MOVE locally (under 100 miles), moverstypically charge $80-100 per hour with an extra fee of $25-50 per additionalmovers. If you are looking to MOVE further (over 100 miles), it can range from around$2,000 up to $5,000. Extra fees for an interstate MOVE are $0.50 per pound(Zillow, 2020). But wait- we aren’t done yet. Another factor of moving isrenting a storage unit. Not everyone needs to do this, but in the case that youclose on your house before you can move into the next, you probably need to putyour furniture in a storage unit. For a small unit, it is around $50 a month,whereas a larger one is $300-400 (Zillow). Okay, deep breath. That’s it on thebreakdown of the main costs of buying and selling a house. After reading aboutthe details of moving -it may seem like a lot- but that’s why MOVE or IMPROVEis here to help! Call our realtor, Jacki Venezio, today for more information ongetting your MOVE started!