How to Budget for Unexpected Moving Expenses

If you’re making a move soon, you might find that there are unexpected expenses associated with changing your address. Although you might think that you’ve got everything covered because you know exactly how much the movers are charging you and you’re fully aware of the rent or mortgage at your new place, there are often additional sneaky expenses that crop up.

Here’s how to budget for unexpected moving expenses.

The Transfer Fee

Have you put money aside for a possible transfer fee from your utility company? If not, then now is the time to do so.

Simply put, your utility company might charge you to turn off the power at one location and turn it on elsewhere. The company does that because it can; it’s not like you can go elsewhere to get your utilities.

You might find that you’re slapped with a transfer fee that’s north of $200 when you move. Be ready for it, and plan accordingly.

Increased Utility Costs

You’re moving into a great place because you’ve asked yourself the very important “what mortgage can you afford” question. The place you’re moving to has a mortgage payment that’s easily within your budget, so what could go wrong?

The cost of your utilities. That’s what could go wrong.

For starters, if the new place is larger than your old place, you’re likely going to face increased costs for environment control. If you want to stay warm in the winter and/or cool in the summer, you can expect to pay more money than you did at your old place.

Also, larger spaces create more opportunities for electricity usage. You’ll find that people plug things into outlets because those outlets are available. That’s going to result in additional utility expenses as well.

Make sure you’ve budgeted for additional utility costs. It’s a good idea to check with the previous owners or the landlord to get an idea of the average monthly expense.

Packing Materials

What are you going to use to move all of your stuff? If your moving company doesn’t provide packing materials, you’re going to have to provide them yourself.

Make a list of all the materials you need. Include boxes and packing tape at a minimum. You might need to buy your own styrofoam peanuts for items that are especially fragile.

Then, start setting money aside for those expenses. If you can, get your hands on a Home Depot moving coupon so you can save money.

Insurance Increase

If you’re upgrading to a place that’s bigger and better, then you can be pretty sure that you’re homeowner’s or renter’s insurance expense is going to be bigger (but not better) as well.

Call your insurance company to get a quote on what you’ll be spending on the new place. Then, factor that additional expense into your monthly budget.

When you’re moving, always watch out for hidden or sneaky expenses. Even when you think you’ve got every box checked and you’ve accounted for everything, it always seems like something pops up that you didn’t anticipate. Hopefully, this list will help you budget for some often overlooked expenses.