5 Unexpected Moving Expenses to Watch Out For
There are many reasons to pack it all up and head to a new house or apartment.
Some people aim to upgrade, while others aim to save on rent. Some move to find new work/study opportunities, while others hope to be closer to family.
Whatever your motivations may be, however, it is important to avoid being blindsided by the following hidden costs of moving:
1. Hiring Movers. The cost of hiring movers can vary enormously depending on factors such as
1) how much stuff you have,
2) how far away you are moving, and
3) if you have any items that require special care.
However, as this excellent and in‐depth analysis from My Morning Reviews shows, you should probably plan to spend at least $1000.
- 2. Lost Wages. Moving usually entails taking at least some time off of work. (And if you think you can save on hiring movers by moving stuff yourself, then you should probably plan to miss at least a week.) Unfortunately, for most Americans taking time off work also means losing potential income, which should be calculated as a moving‐related expense.
- 3. Temporary Storage and/or Lodging. Be prepared to put items in storage or even stay a night or two in a hotel during the course of your move. As anyone with experience will tell you, moving can be an unpredictable process!
- 4. The "Startup" Costs. From closing on your new home, to setting up utilities at your new apartment and everything in between ‐‐ there is bound to be a "startup" cost or two along the way.
- 5. Your New Home Will Need Something. From buying a new sofa to replacing that lamp that was broken during the move ‐‐ expect a trip to the store during your first week or two of living in your new home/apartment.
Have life's hidden costs got you in credit card trouble or other forms of debt? Visit Madison and Monroe online today and begin charting a path to financial freedom!