Contracts have been exchanged, completion is just around the corner, and you’re about to book the removal company. But what day of the week do you schedule your move to a new home?
Follow the flow
If you are like the majority of people moving house, you’ll choose a Friday, says a recent report by the Home Owners Alliance (HOA). They found that 41% of homebuyers scheduled their move for a Friday – unless it’s a Friday the 13th when it becomes the least popular day on which to move. The second favourite was Monday (17%) and the weekend appears to be the least chosen.
With so many others moving house on a Friday, you can form part of the natural chain by moving in just as the others are moving out.
Friday also makes sense because it gives you the whole of the weekend in which to get yourselves sorted and begin to unpack before returning to work on the Monday.
But there are reasons for not following the herd and wisely choosing some other day of the week.
A story in Property Reporter on the 26th of July estimated that 175,000 people will be moving house on a Friday during the coming year - 75,000 this August alone, and with Friday the 30th of this month the busiest moving day of all.
With so many homebuyers all moving on the same day there is a risk of you being caught up in an overloaded bank clearance system in which the final payment you need to make is, therefore, held up. So causing a delay potentially meaning that you might lose between £500 and £1,000.
Since most completions are done on a Friday afternoon, this is also a notorious blackspot for conveyancing fraud.