Baker’s Dozen Money Sucking Homeownership Costs – Part 2

Relocating ain’t cheap. You either have to absorb the time to do it yourself or hire a professional to ensure it gets done right.

 
 

In Part 1 of Baker’s Dozen Money Sucking Homeownership Costs, you learned the first 4 budget items you must plan for and be prepared to pay at or before closing.

The money drain does not stop there. Moving costs have to be planned in your relocation budget regardless of whether you are moving 10 blocks or 1,000 miles.

Part 2: Moving Costs
When you buy a house, be sure to budget properly for the big move by considering these five transition costs.

5) Moving Supplies
Set aside some money to buy specialty moving boxes and packing paper. Do-it-yourselfers can purchase moving supplies at U-Haul or home improvement stores like Home Depot or Lowes. Shop around for a deal. For example, U-Haul offers worry free, 100% buy-back of unused U-Haul boxes so you don’t have to be concerned about buying too many.

6) Packing Your Belongings
If you decide to pack yourself, begin packing several days before your moving date. If you procrastinate, you will waste the mover’s time and your money if they have to wait for you to finish up your packing the day of the move. Sometimes it is better to let the professionals do things the right way. Hiring the moving company to also pack your stuff may sound like an extra expense and a way to save money but take it from us, it’s worth it.

7) Moving Your Stuff
Loading the truck, driving to the new house and unloading will cost thousands, not hundreds so plan your budget accordingly. Charges are by the pound plus mileage so the lighter and shorter you move the less expensive it will be. Seriously consider getting rid of heavier items because it might be cheaper to buy new than ship the old.

Bonus Secret: some of the best money spent on a move is to tip your movers during the load and let them know that a similar tip is waiting for them at the destination. Also, arrange for an inexpensive lunch to be delivered like pizza or a sandwich platter. You will be surprised how appreciative the movers will be.

8) Homeless Lodging
During a move you might be homeless for a few nights when all your stuff is packed up. Budget for hotel nights and eating out. Check out 3 Hotel Search Tips to help you find a suitable hotel during your transition.

9) Utility Shut Off and Set-Ups
Utilities sometimes charge for turning off service (water, power) or turning on new service at your new place. In addition, some power companies will require a large up front deposit from you to set-up a new account depending upon your credit score. The cable company may charge for setting up your television service.

From Monday…
Part 1: Upfront Costs To Buy A House
Before you spend one night in your own place, the process of buying a new home requires several expenses that your friendly online mortgage calculator will overlook including these four…read more

Coming Wednesday…
Part 3: Ongoing Housing Costs
The money drain is not over once you step foot into your very own house. Carefully budget ahead of time for the expenses associated with the ongoing upkeep and furnishing of your piece of the American Dream.