When we think of moving to a new house, we consider how stressful of an endeavor it is before we think of the costs. While moving from one house to another is named one of life’s most stressful events, it can also be costly. You could be moving further into a city making your home (whether it’s bought through a mortgage or you’re renting) more expensive; you could be moving to a whole new state and the costs of relocating your possessions are high, making your bank balance a little fragile. For some, moving isn’t their first choice, but a necessity for work-related reasons or to be closer to family. These costs and how much you pay, though, is a choice and can be greatly depleted through research and planning.
Find a Cheaper Mortgage Deal
There are many mortgage deals available, so make sure you find the best one for you and your family. For example, decide whether you want a repayment or interest-only mortgage; then decide whether you’re going for a fixed or variable rate mortgage. Also ensure that you have enough cash for any associated fees.
To find the best deal, have a good deposit at present. Also, be wary of deals as these can come with hefty fees. Do not rush buying a new house, make sure you shop around before settling on a price.
Move Your Mortgage
If you already have a good deal, check whether you can move it to your new home. While some lenders will decline, some will also agree because they don’t want to lose your custom. If you don’t ask, then you don’t get, so it’s always best to check.
Find Reputable Estate Agents
When you’re looking for your new home, make sure you find a realtor that you can trust. There are many options out there for you, so don’t settle for the first estate agent who seemingly gives you a good deal (there may be better out there). For instance, Open Listings offer a 50% commission refund. For better savings, always try to haggle with your realtor, and once you’ve enlisted their help, find out their flat rate.
De-Clutter Your Home
Before you start packing your possessions, you should clean out your home and rid yourself of anything you no longer want or need. There’s no point transporting unwanted goods, as itwill only cost you more in packing and moving costs. Plus, de-cluttering your home can be therapeutic and allow you to think about your future in a new house and location.
When de-cluttering, though, try not to throw away all your possessions. What is your rubbish can be another man’s treasure, so put all items that are functional to one side, and either donate them to charity or even sell them for a profit. Have a yard sale, sell items on eBay and pocket any earnings for something else. The money you make could be used for moving costs, for example.
Collect Packing Materials
As soon as you decide to move or look for another house, you should already start collecting your packing materials. There are many ways you can find boxes and packaging for free, and by starting early, you’re able to reduce your costs even further. Head to your local stores and ask if they have any unused or unwanted boxes. Store any boxes you’ve acquired in the garage, but make sure they’re kept safe from damp.
An additional perk of finding packaging materials elsewhere is that you’re also somewhat recycling materials and, therefore, helping the environment.
Enlist the Help of Family and Friends
Hiring professional removers can be quite expensive, so asking for free help can greatly reduce moving costs. Ask your friends and family to move your belongings from one house to another; although this may take longer and more frequent back and forth, it’ll save you a lot of money in the long run. To show you appreciation, though, make sure to reward and thank your friends and family somehow. This could be taking them out for a drink at the new local bar, or buying them lunch between moves. After all, you don’t want to take advantage of them!
If your family and friends are busy, or you’d feel guilty burdening them, you can always hire a suitable vehicle. This is ideal if you don’t have many possessions, for example, if you’re moving into your first home. This also gives you the independence to move at whatever time you wish, avoiding rush hour.
This can be easier said than done, especially if you have fulltime work. However, if you’re flexible in your moving dates and times, your moving costs can be heavily reduced. If you have to hire the help of professional removers, then employing their services for the weekday rather than the weekend should be far cheaper. Also, you’ll want to avoid moving during rush hour (not just for lower costs, but for your sanity, too!). Whether you’re moving the other side of town or to a new state, the time in which you move can greatly impact your costs and how much the professional movers charge.
If you’re moving interstate or overseas, then you should also be flexible in your flight times. No one wants to fly at 1am, but by doing so, you can save quite a bit of money which can be spent elsewhere (e.g. the shipping of your possessions).
Moving is both stressful and costly, but there are ways to reduce costs and keep a budget intact for other occasions. When it comes to your mortgage, make sure you have a decent deposit; speak to your bank and lenders, and discuss all your options. Ask for help from family and friends, throw out any possessions you no longer want, and be flexible in your moving times. Of course, there are some costs you won’t be able to work around, but for the most part, logic and smart thinking can help you diminish expenses.