Creating a moving budget seems like it should be a fairly straightforward thing. Calculate the new rent or mortgage, estimate the cost of driving to your new home, and get a quote from your moving company — that should cover it, right?
Many people are surprised to find that moving costs them more than they expected. Make sure that you are prepared for the full cost of your move with this list!
Since utility deposits (electric, gas, and water) can depend on your credit score and vary widely by company, it’s a good idea to find out what the fees will be in advance. These deposits are refundable either after a few successful payments or at the end of your contract agreement. Your contract should explain these terms clearly. Deposits can range from under $100 to a few hundred dollars depending on the company’s policies.
Vehicle taxes and/or registration
If you move to a new city or state, you are required to register your vehicle at your new address. If you don’t cross state lines it should be a fairly simple process to change your address with the DMV. In New York, you can do it all online!
If you are moving out of state, you will need to start a new registration. This could include:
- Paying sales tax on your vehicle
- Vehicle plate fee or registration transfer fee
- Title certificate fee
- One- or multi-year registration fee depending on the vehicle
Charges can vary widely by state, largely dependent on whether sales tax is assessed.
Vehicle Insurance plans
Even the smallest move can impact your car insurance rate! Moving to an area with less traffic or lower crime rates can mean a decrease in your insurance premiums. Moving farther from work, on the other hand, could make your rates go up. In some cases, moving to a new home can be an opportunity to renegotiate your insurance rates and get something that is better suited to your needs!
Health Insurance plan changes
Unfortunately, health insurance plans don’t always travel across state borders easily. Local moves should not impact your insurance rates, but moving out of state could. Speak with your insurance company or your agent about how your policy and rates might be impacted by your upcoming move. This is one hidden moving expense that shouldn’t catch you by surprise!
Contract termination fees
Many gyms, fitness clubs, yoga studios, and other community spaces have an early termination fee for their contracts. So if you will need to get out of a contract or two when you move, keep this in mind. First, ask if your gym or club has a clause for those who are moving away. If not, determine if it is better to pay the termination fee or let your autopay finish out the contract.
Replacing items you didn’t move
Maybe your old sofa wouldn’t have fit in your new home. Perhaps you left your massive kitchen table for the next tenants. Maybe it just didn’t make sense to pay the movers to transport your enormous entertainment center. Whatever the reason, you will need to replace those items in your new home. Purchasing new furniture, as well as basics like cleaning supplies, certainly needs to be factored into the cost of moving. Sometimes these items can be put off for a little bit as you spend time determining what you want for your new space, but you will miss them eventually!
If there is a gap between when you move out and when you’re able to move into your new apartment, you may find yourself settling in for a short stay at a hotel. Check your timeframes, your lease agreements, and your travel plans. Make sure you plan out your hotel reservations and include the costs in your moving budget. Keep in mind you’ll have to eat out or order room service a lot, too.
Restocking grocery staples
Unless you were moving locally, you likely didn’t move a ton of food with you. That means you will need to take a big grocery trip to stock up on staples like oils, flour, freezer items, and fresh foods. Stocking your entire kitchen can be quite an endeavor, so start with the staples and add more specifics as you settle in and need them.
With all these costs to consider, one thing’s for sure: a flat rate moving quote is one thing you can count on. Let FlatRate help!