Moving to a new place can be an incredibly expensive proposition if you don’t take budgeting into account and you fail to plan ahead. But it doesn’t have to cost a fortune. Review these 6 budgeting tips to consider when moving into a new place.
6. Buy Insurance to Save Money
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Moving can cause unexpected expenses due to broken items, theft or even fire. Moving and renter’s insurance could save you thousands of dollars. Ask your moving company about insurance and find out what it covers. Also, transfer your renter’s insurance as soon as you arrive. In the case of disaster, your landlord will only receive money for the home itself.
5. Plan for Lower Housing Costs
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The act of moving requires a housing tap dance. Move too early and you pay for two places at once. If you move too close to your deadline, you face a time crunch and possible storage expenses.
Get a feel for the housing market and decide what you can afford. Most people spend between 25 and 40 percent of their income on housing. Rent your new place as close to your departure date as possible.
4. Pack Early to Save Pennies
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The key thing in packing is to keep from procrastinating. Get a head-start and do your packing in stages. There are several benefits to packing early, in fact. You can:
- Donate items and rent a smaller truck.
- Stockpile packing materials to save money.
- Dodge the cost of having movers pack for you.
- Organize items for easy access, to avoid buying a duplicate.
3. Find Ways to Cut Moving Costs
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When moving, you must make decide whether to hire professionals or ask friends and family to help. Free labor can save money, but professional movers also offer financial benefits:
- They are more likely to avoid personal injury when moving heavy items.
- You don’t have to buy them food, as you would free laborers.
- If they break an item, insurance may cover it.
- They’re faster, which may save an extra day of truck fees.
To further cut costs, look for cheap moving trucks and recycled packing materials. Visit your local grocery store or ask friends and family members for their extra boxes, bubble wrap and newspapers.
2. Bargain Hunt for New Home Items
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Long distance moves mean purchasing new items such as cleaning products, pantry supplies and even furniture. Follow these house set-up tips to save money:
- Shop for secondhand home furnishings.
- Visit dollar stores for low-cost housewares.
- Clip coupons to restock your pantry.
1. Find Ways to Cut Utility Fees
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Watch for unexpected costs when you set up utilities at your new home. If your credit is bad, you might have to pay a deposit. You may also have to pay utilities at both your new and old home at the same time. Try these tips to save money on utilities:
- Ask about special bundling packages for phone, cable and internet.
- Spread a deposit out over two or three months.
- Cut off your old utilities as soon as possible.
If you follow these 6 tips, you will save money. Start your new life without a mountain of moving debt, and you can cut some of the stress of moving.