10 hidden costs of relocation
4 min read
If you’re moving to a new city, or country, it’s often an exciting time of change and new beginnings. It’s easy to get caught up in the adventure of it, and you absolutely should focus on enjoying every minute of it!
However, make sure you do your research before you move to make sure that you stay within your moving budget! Don’t get caught out by these ten hidden costs of relocation.
1.Research your neighbourhood
This may sound simple, and in your excitement you may have already done comprehensive research of your new home, but if not, it’s important to do. Your neighbourhood is going to me your new micro-world and it’s important you understand its economy.
Find out the going rate for a coffee or a meal out, and research which amenities you have close by. You don’t want to be spending money travelling across town for a service that is within easy walking distance of your new home.
2. Your security deposit
If you are a renter you will be aware of the difficulties of claiming back your old security deposit. Often, you only receive back a portion of what you laid down. Make sure you leave your accommodation in the exact same condition that you found it in order to ensure a full refund; this includes a full cleaning service and maybe even a repaint.
Also, don’t rely on being able to use your old security deposit to pay for your new one. Sometimes there can be delays in its release, so you need to be aware that you will have to come up with the money for your new deposit separately.
3. Restocking your home
This may sound unimportant in the grand scheme of things, but restocking your home is actually a very costly endeavour. Items such as spices and condiments, which we take for granted in everyday use, can swiftly add up if they are bought all in one go. The same goes for cleaning products, which are a necessity in any home.
Try and bring as many perishables and other key items from your old house as possible in order to minimise on what you need to buy for your new one.
4. New utility contracts
In many cases, setting up new utility and Internet contracts can be a laborious task. Not only may this eat up your phone bill, but be aware that many companies will probably charge you a “set up” or “connection” fee. This can sometimes be as much as 100€, and if you are setting up all your utilities with separate companies, be aware that the costs may run into the hundreds.
5. Your moving company
Whilst hiring the moving company itself will not come as a hidden cost, make sure that you know exactly what services you are getting for your money. Make sure that you are covered for theft, loss or damages, and that they will provide you with all the requisite packing materials you will need.
Furthermore, double check before you sign an agreement with then that there will be no extra costs such as fuel, or overnight accommodation charges if you are moving far away.
If you are a renter, it will come as no surprise that you need to pay your rent each month! However, it’s easy to forget in the excitement of the move, and in the payment of the security deposit, that often you will be expected to pay your first month’s rent on the day you move in. This is in addition to any deposit money you will have already put down.
Make sure you remember to budget for this cost so that it doesn’t catch you unawares.
7. Bulky items
If possible, measure the common areas of your new apartment, such as the cellar and the corridors, before you move in and compare them with your current accommodation. It’s easy to forget in the excitement of the move that your furniture may not fit in your new apartment, or through the common areas.
This means you may be stung with the extra cost of needing to hire an elevator to gain access to your apartment through a window in order to move your furniture in. This can sometimes be as much as an extra 200€, not to mention the stress and hassle involved in finding a company to do the work at a moment’s notice.
Your new property will need to be insured, and insurance costs money. Make sure that you either arrange to carry across your previous home insurance, or that you set up a new insurance as soon as possible. Although it may feel like an expensive extra, it is not advisable to skimp on insurance cover.
9. Old subscriptions
Don’t forget to cancel old subscriptions. It sounds simple enough, but in the chaos of moving it’s easy to forget and you don’t want to be caught out paying for something you’re no longer using. Don’t forget that some companies also require a 30-day notice period, so the earlier you get this organised the better for your wallet.
This can either be damages to your own property in transit – such as a TV or piece of furniture – or damage to other’s things as you move in and out of buildings.
Make sure your moving company has liability insurance for major accidents, and just be aware that as you are moving your furniture, to cause as little damage to the common areas as possible. You don’t want to be charged for repainting or plastering the first month you move in!
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