Posted Oct 8, 2014
4 Hidden Costs of Moving Renters Often Overlook
Moving into a new apartment can be an expensive endeavor. After all, there is your first month’s rent, the security deposit and the cost of hiring movers, if you choose to hire help. But there are some other costs of moving that many renters often overlook, which may throw a wrench in your budget and make the process of moving even more stressful.
Want to make sure there aren’t any crucial costs that you are going forget about come moving day? The list below contains four often-overlooked costs that are important to factor into your moving day budget.
Whether you’re moving your belongings yourself or you’re hiring a mover to do it, chances are, you’re going to be doing a lot of back and forth traveling during your move. You may have to go between your old home and your new to transport belongings; or you may have to go to a hardware or office supply store to buy necessary supplies for your move.
Wherever you may have to travel, be sure to factor those costs into your move. Potential transportation costs include car rentals, gas, tolls and parking, so be sure to set aside some money so that you can get around stress-free.
2. Packing Costs
Properly packing your home for a move can be a lengthy and expensive process—one that many renters forget to budget for when they start a moving process. Packing up for a move does not only require boxes. It also requires protective supplies, like peanuts, bubble wrap, tape and padding.
Remember to set aside a good amount of time to properly wrap every fragile piece inside your home, including plates, bowls, cups and glassware. Be sure to account for the costs of all the materials you will need to keep your belongings in good shape.
Alternatively, many people pay for professional movers to not only move, but also to pack their belongings. This ensures a professional packing job is done and often allows you to avoid having to replace broken items after a move, although it can also be prohibitively expensive when it comes to budgeting moving costs.
Of course, paying rent in a space is not the only cost that comes with living there—you’ll also have to pay for utilities. Many people often forget to factor in the cost of utilities into their first month’s cost, especially since they’ve most likely had to put down the first month’s rent ahead of time. Some utility companies also require renters to put down a security deposit for utilities in case bills are ever missed, so don’t forget to add that into your budget.
4. Emergency funds
Moving is a complicated, difficult process, and it’s impossible to avoid a mishap or two. It’s important for movers to set aside some extra funds to deal with any unexpected emergencies. Emergency funds can be used to replace items that have broken during the move, to pay for storage space for things that don’t fit inside your new place, or for meals out before the kitchen is unpacked.
By remembering to put a little money aside in case of an emergency, you can avoid having to deal with unexpected costs and unnecessary financial strain as they get settled into their new place.
If you recently completed a move to a new rental space, were you surprised by any of the hidden moving costs? If so, let us know in the comments or on Twitter.
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Photo Credit: Jason Toney