Planning a move can be an expensive business, especially when you’re relocating to a whole new city. With all the extensive planning and organising you’ll have to do, you might find that some fine-print expenses that slip your mind and end up sending you over budget. Being financially unprepared is one of the most frustrating and stressful pitfalls of relocating as if you have miscalculated badly enough it could spell a need to replan your move entirely. Here are some things you’ll need to remember to include before you finalise your plans.
When relocating, most people are so focused on things like new rental agreements or mortgages and travel expenses that they forget to factor in the cost of getting all their belongings across the country. Hiring a good moving company might seem like a frustrating expense, but it can truly make the biggest difference in your moving experience being a positive one, rather than making you want to pull your hair out.
Investigate good moving companies ahead of time and find out how much they charge for the safe packaging of your belongings, the labour of getting everything packed up and in and out of the moving van, as well as the transport costs. There’s nothing wrong with shopping around for the best deal, but remember that sometimes you get what you pay for and a premium fee for the safe arrival of your stuff might be worth the investment.
Filling the Gaps
Even if you’re moving into a home that seems to be equal in size to your current place of residence, there can always be discrepancies in how the space is made up. What this essentially means is that you mind find yourself with too much stuff and not enough space to fit it all in comfortably. All that this will entail is the need to sell or donate a few of your pieces – no big deal. On the other hand, you might find yourself with big, empty gaps in rooms that feel bare and in need of a little love.
With the excitement of a new home, one’s instinctual reaction is going to be one of excitement at the idea of doing some shopping to dress up your new home. If you haven’t budgeted for extra expenses like these though, things can get sticky. This can be avoided by paying close attention to the size of each space in your old and new homes and taking a few quick measurements before your move to see if and how you’ll be able to fill your space with what you have. Even so, it’s recommended to budget in at least a small amount for extra bits of furniture or décor you might find yourself needing for the new space.
Repairs and Maintenance
Even if the place you’re moving to might seem like your dream home, be aware that you might find yourself with unexpected repairs to deal with. In the first week or two of moving into a place, new residents typically find at least one or two things that need attention – a botched paint job, a leaky pipe or perhaps even something more sinister like mould under the floorboards.
Your financial input in this regard will be determined by whether you’re renting or buying, and your rental agreement may play a role too. If you know that you could be liable for any repairs or maintenance on a new place, try and account for at least a few issues in your moving budget.
Cost of Living
Perhaps it’s not a moving cost per se, but the cost of living in a new city might be vastly different to what you’re accustomed to and should be understood and budgeted for long before deciding to relocate. Things like rent and mortgages, education fees, public transport, gym memberships and even basics like your weekly groceries have the potential to be far more expensive than in your current city. The fortunate thing is that there’s always the chance they’re more affordable.
Either way, it’s important to take a good look at what you’ll be spending every month on daily living, both for necessities and luxuries and understand whether or not there might need to be some trims made to your budget. This is a healthy exercise to do before deciding to move, in case you or other family members do not feel comfortable with a possible change in the way you live – be honest and open with everyone who might be affected.