Dealing with the hands-on side of moving house is stressful enough – what to label those miscellaneous wires, how to tell your partner that their cherished ‘sculpture’ isn’t coming with you – let alone having to worry about the money side of things.
You don’t want to start the moving process on the front foot only to find that financial hurdles are waiting to trip you up before you’ve properly moved in. To help you manage things as mindfully as possible, and to avoid any last minute dramas, here’s our guide on how to manage the mounting costs of moving house.
KNOW YOUR INITIAL COSTS
Before anything else, you’ve got to look at the bigger picture regarding your financial bearings. Without being fully clued up on the costs surrounding your house purchase, it’s hard to know how to budget for the costs of the move itself.
Knowledge is power, and all that. Accordingly, you need to establish the figures for your mortgage payments, the solicitor’s fees, and other administrative, financial or legal costs. Then you can see how much you’ll have left to cover your actual moving costs.
GET READY FOR MOVING COSTS
Here are some of the costs you should budget for:
Professional removals
You may be tempted to ask a friend to help you shift your belongings into your new place, but it’s better to hire a professional removals company. These guys have the knowledge, capacity and experience to move your stuff safely and efficiently. What’s more, your possessions will likely be protected financially against any damage – not the case when your mate drops that antique vase, hey?
According to Compare My Move, you should expect to shell out around £1181 for a removals service for a 3-bed house travelling 50 miles. For a smaller house or a shorter distance, the cost would be lower.
Ideal Tip: Check that any company you’re considering is a member of either the British Association of Removers (BAR) or the National Guild of Removers and Storers (NGRS). As always in situations like this, be sure to get several quotes before settling on a decision.
Cargo
Do you even use that weightlifting bench? Do you really need to bring that tired-looking old armchair you never liked anyway? The longer you have lived in your home, the more clutter you will have likely accumulated over the years. Be ruthless with your possessions, guaranteeing that your move represents a fresh start and a clean break, whatever the circumstances. Now’s the time to get rid of some junk.
Remember that as well as labour and petrol, removals companies will charge you based on how much gear they have to shift. Often, they’ll provide a tool online (a Removal Volume Calculator) so you can see how much your removal could potentially set you back relating to the size and weight of the stuff you have.
Ideal tip: Make some extra money to help with your move by selling unwanted items. As long as your items are in good condition (or in the case of furniture, salvageable), you can most definitely sell them to someone else. As the saying goes, one person’s trash is another person’s treasure, so if you’ve got something that you don’t want to take to your new home, take photos of it and sell it!
Removal Insurance
You may already hit a home run on this one if you’ve chosen the right home insurance, which will cover removals with a professional removals company. Most removals companies provide their own insurance, however often this excludes items ‘packed by owner’. Check whether your removals provider is insured and what level of liability they accept for lost or damaged items. Don’t assume they’ll cover every item they transport.
Mail Redirection
There’s a whole load of life admin associated with moving house before you hand over your keys and redirecting your mail is one of them. Indeed, while you might be glad to see the back of your old place, but your mail is still likely to call it home for a while longer. As such, set up redirection with Royal Mail as soon as you’re settled in. You can redirect your mail from between three months and a year, for a price of £33.99. Again, you might feel tempted to cut out this cost, but it could see you become a victim of identity fraud if you do.
Cleaning
Renting? It’s likely that part of the agreement is leaving the property clean and tidy. That could involve stumping up for a specialised tenancy cleaning service, which can cost anything between £200 and £500, depending on the size of the property and how dirty it is.
Child and Pet Minding
You may find you have additional expenses on the day. Do you need childcare or someone to look after your pets? To get an idea of costs, a registered childminder will charge around £118 or more for 25 hours of their time. Pet sitting is relatively cheap and can cost around £20 to £30 per day.
SORT YOUR BILLS AND INSURANCE WHEN YOU MOVE IN
A change of address is a good time to shop around and get the best deals on home insurance — mortgage lenders will insist you have building insurance, which is one of the two types, the other being contents insurance — and on utility bills.
When it comes to your bills, you don’t have to go with the same provider as the previous occupants. Setting up a direct debit will help you stay on top of your bills and track your budget. Don’t forget to check your council tax and whether you’re eligible for a discount.
THE BOTTOM LINE
Changing home means revising your daily, weekly and monthly budget, and this starts before you’ve even settled in. To avoid any unwelcome financial mishaps in the moving, it’s important to be scrupulous with hidden costs and look at the bigger picture.
Now, when’s that house warming party?