Calculate your move: Top financial tips to successfully relocate to the countryside


    Many are no longer tied to their workplaces as they now work from home, and are desperate to swap cramped urban flats for houses with gardens and space for a home office.

    Whether you fancy moving to the countryside or a seaside town, the cost of scaling up may come as a shock, so budget carefully.

    Moving to the country costs on average £45,000, double the expected sum, according to research from fintech lender Tymit. Two-thirds are hit by shock expenses, with one in seven arguing with loved ones as a result.

    As well as the usual costs, such as estate agency and legal fees, stamp duty and removal costs, buyers have to do up and kit out their new home.

    That means paying for everything from a kitchen or bathroom revamp, to new carpets, TVs and lawnmowers.

    Tymit founder Martin Magnone said the property boom has driven up house prices, leaving many struggling to afford unexpected extras: “Take time to budget and secure responsible lines of credit to stay on top of your spending.”

    Clare Seal from The Financial Wellbeing Forum said renovation projects can be particularly demanding and recommended creating a budget by listing all of your regular incomings and outgoings.

    Then stress test how they could withstand factors outside of your control such as a drop in salary. “This will help you decide how much you can afford to borrow and provide a safety net if your income falls.”

    When spending hundreds of thousands on a property, smaller costs can seem inconsequential but mount up. Seal said: “Whether it’s new cutlery, crockery or finishing touches, keep track of all your spending.”

    Work out whether you can afford your new lifestyle, including transport costs, gym membership, or kitting out for country life, she added. “Most important of all, use credit wisely.”

    The UK staycation boom has seen millions flock to the coast and many are now looking to move permanently.

    Seaside property prices have shot up by more than 10 percent in the last year and Chris Baguley, commercial managing director at specialist lender Together, cautioned that maintenance costs may also be higher in coastal properties: “Homes by the sea are more susceptible to damage from flood, salt air corrosion and storms, so make sure you can afford the annual upkeep, on top of purchase costs.”

    Romantics who fall for a nontraditional property such as a fisherman’s hut or eco-friendly yurt may face unexpected maintenance costs and could struggle to get a mortgage from a high street lender. A mortgage broker can direct you to a specialist lender who will be willing to help, Baguley said.

    Your seaside property might look pretty on a summer day but winter could be different, Baguley warned. “Coastal towns are often at ‘the end of the line’, and may lack transport infrastructure and job opportunities, so go in with your eyes open.”

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