How Much Does Moving to a New Home Cost?
Moving can get expensive, but budgeting and planning ahead can help avoid unexpected costs
Buying a new home is an exciting new beginning. However, before you get to truly experience and enjoy your new home, you must deal with the associated costs and the process of moving. Moving to a new home is not an easy or cheap process. Most people are familiar with the most common costs of owning a home like down-payments and mortgages, property taxes, homeowner’s insurance, and maintenance. Aside from that, additional costs come with moving to a new home that often gets over-looked or forgotten. You can avoid going over your moving budget by being prepared and planning for all possible expenses.
While this may seem like a very common-sense expense, it’s easy to overspend on moving supplies and forget how much they cost. To start, you will probably need boxes. Buying boxes from big-name brands can get very expensive, and specialty boxes (e.g., TV boxes) come with a heftier price tag. You can reduce the amount of money you spend on moving supplies when moving to a new home by doing a thorough inventory of your items. This way, you can determine the most suitable supplies needed to pack and move them, and any additional supplies. A lack of preparedness can have you spending extra money. For example, you could end up buying rolls of packaging tape you’ll never end up using, or a giant roll of bubble wrap ‘just in case.’
Do you plan on moving some of your items in your own car? How many trips will you need to make? Are you renting a moving truck or hiring a moving company that doesn’t include gas in the price? It’s a good idea to over budget for gas when moving to a new home. Gas prices are always changing and can depend on the area you’re in. You may also have to make unexpected detours or longer trips due to traffic or construction.
Taking time off of work
Moving to a new home can be time-consuming. You may have to take days off on your moving day(s) and to pack or unpack. For those who aren’t fortunate enough to have paid vacation days, you should budget for those lost wages.
For first-time homeowners, you may be accustomed to having some utilities included in your rent if you have rented before. When moving to a new home, you are responsible for setting up all-new necessary utilities or transferring over existing ones. Most companies charge activation or labour fees, so be sure to call ahead of time to find out the cost and to set up the services before your moving day.
Perhaps your home wasn’t freshly painted before it went on the market, or if you maybe you want to change the colours. It is easiest to get this done before moving to a new home while still empty and unfurnished. The cost of this can vary depending on whether you want to do it yourself or hire a painting company.
Choosing to hire a moving company when moving to a new home is a useful thing to consider including in your budget. Friends and family are great to help you move the small stuff. However, you may need professional movers to help with larger items (i.e., pianos, workout equipment, pool tables). Ensure that you have a thorough understanding of your moving company’s charges, additional fees, and services and supplies that they do not include in their estimate.
The smallest details can cost you the most
Moving to a new home is a project that takes time. It’s easy to overlook the small details about your move, but those are likely the things that can put you way over your budget. Thoroughly planning and budgeting your move will give you peace of mind and help you settle into your new home faster. Take your time, and hire help where and when you can, so that you can maximize your time and your budget.