Catchment areas, Ofsted reports, types of school…

…All things you’ll no doubt be thinking about if you have young children.

But it’s important to think about the financial implications of moving somewhere to be near the right school too, especially if you’re going to be further away from your job.

Here, the Money Advice Service talks about the factors to consider first.

The cost of upgrading your property

One reason you might consider moving out of the city is to get a bigger home for your family. If this is a motivation behind your move, have a think about what you can afford before you take the plunge. There are often plenty of costs you may not have thought of, such as surveyor fees, higher council tax bands, and stamp duty on homes costing more than £125,000. See the Money Advice Service guide to find out all the costs you can expect.

Find the best local schools before moving

Before you pick a property, take a look at what schools there are in your area and how likely your children are to secure a place there based on where attending pupils live. Rightmove listings now include the School Checker to help you find the right home near the right school.

Don’t forget to calculate travel costs

If you’re moving further away from your place of work, commuting costs are a necessary consideration. A season ticket may be a good idea if you’re going to be travelling by train.

Some companies lend you money for season ticket costs and then allow you to pay them back out of your salary each month. This can be a way to cut costs, especially as train prices tend to rise each year, so buying an annual ticket upfront could save you money in the long run. Check with your company to see if it does a similar scheme.

If you are moving out to the suburbs, a car may also become necessary. Think about the long term costs of keeping a car on the road, as well as the initial outlay. The Money Advice Service’s car calculator could help.

If you commute by car, consider sharing your journey and the cost with others on the same route. It’s simple if you can find workmates who live close to you – or if you share the school run with other parents nearby.

Childcare costs

If you are making the move to the ‘burbs with your family, you should consider the impact on your childcare costs. Moving away could alleviate costs, or add to them. So, you could be paying less for a childminder, but if you need your children to be able to stay with the childminder longer, you could end up shelling out more.

The key is to do your homework first. The Money Advice Service’s guide helps you understand your childcare options.

What’s in your area?

Before you move, you should think about your local amenities. Where is your nearest supermarket, for example? If you’re partial to unwinding at the gym, or taking your children to sports clubs, is there a leisure centre nearby? Knowing what is in your local area can make a difference to your outgoings, especially if you add petrol costs on top.


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