Moving into a new home can be an exciting and sometimes transformative experience, but it can also be expensive, with many hidden costs that can catch you off guard. From unexpected expenses during the move to additional fees for storage or packing materials, moving can quickly add up. To help ensure a smooth and stress-free move, it’s important to budget for these hidden costs and plan accordingly.
In this article, we’ll explore the hidden costs of moving using recent data from Australia, and provide tips for budgeting, and explain why using a professional removalist can help minimise these costs and ensure a successful move.
Introduction
According to the Australian Bureau of Statistics (ABS), in 2019–20 more than 40% of Australian households reported moving home within the last five years.
Moving is a big exciting step in one’s life but it can be both financially and emotionally draining. While it’s easy to focus on the excitement of a new home, it’s important to also think about the costs associated with moving. From packing materials to storage fees, there are many hidden costs that can add up quickly, making it important to budget for these costs and plan accordingly.
In this article, we’ll explore the hidden costs of moving in Australia, provide tips for budgeting, and explain why using a professional removalist can help minimise these costs and ensure a stress-free move.
A 2018 report from ING, titled “Cost of Moving Home Report” highlights that moving to a new home can be a significant financial burden for property buyers. The study found that Australians spend an average of $1618 (AUD) on physically moving, leading to a nationwide total of $863 million annually. The 12 per cent of survey respondents who chose to hire a removalist to do the entire job spent an average $3,655.
The report also revealed that 48% of the over 600 homebuyers surveyed had exceeded their budget. ING’s head of product, Tim Newman, stated that it’s important to set aside money for the move itself and suggested reducing costs by doing the move oneself, which could save nearly $1000. However, not everyone may be willing or able to do this. For those who do not want to move themselves, the cost of moving could be reduced by switching home loan providers, which the research showed can save an average of $1073 per household per year for those who have switched in the past two years.
A concerning 50% of those surveyed failed to budget for the associated costs of moving. This lack of preparation can cause additional stress during an already stressful time, and it’s advisable to take steps to avoid it.
Unexpected expenses during the move
One of the biggest hidden costs of moving in Australia is the unexpected expenses that can arise during the move. From repairs to the new home to unexpected expenses during the move, these costs can add up quickly, making it important to budget accordingly. It’s not uncommon for Aussies moving homes to have many unexpected expenses during a move. To avoid these hidden costs as much as possible, it’s important to research your new home and budget for any potential expenses that may arise.
Packing materials
Materials required for packing can be another significant hidden cost when moving in Australia. From boxes and tape to bubble wrap and peanuts, these materials can quickly add up, making it important to budget accordingly. The average Australian spends around $400 on packing materials for a move. To minimise these costs, consider using recycled materials, such as old newspapers and towels, or finding free boxes from local stores.
Storage fees
Storage can be another hidden cost when moving in Australia, particularly if you need to store your belongings during the transition to your new home. To minimise these costs, consider downsizing your belongings, or finding a removalist that offers affordable storage options.
Professional removalist fees
While professional removalist fees may seem like an obvious cost, they can also be a hidden cost if you choose a removalist that is not upfront about their fees or services. To avoid these costs, it’s important to research different removalist companies, compare their fees and services, and choose a removalist that is transparent about their costs and services.
Travel and accommodation expenses
If you’re moving to a new city or state, you may also need to budget for travel and accommodation expenses. This can include the cost of flights, car rentals, and hotel stays during the transition. To minimise these costs, consider finding a removalist that offers a complete moving package that includes these expenses.
Cleaning and maintenance expenses
Another hidden cost of moving in Australia is the cost of cleaning and maintaining your new home. This can include the cost of cleaning supplies, hiring cleaners, or making repairs to the new home. To minimise these costs, consider finding a cleaner on AirTasker who has a great star rating with lots of good reviews, or negotiate with the previous homeowner to cover these costs.
Tips for Budgeting and keeping unexpected costs down
Create a detailed budget: Before moving, create a detailed budget that includes all the hidden costs mentioned in this article. This will help you stay organised and avoid unexpected expenses during the move.
Negotiate costs: If you’re using a professional removalist, be sure to negotiate their fees and services to minimise the cost of the move. This may include finding a removalist that offers a complete moving package that includes packing, storage, travel and accommodation expenses.
Pick the right time: Moving during the middle of the month can be cost-saving. The busiest time for movers is during the beginning and end of the month, due to lease renewals. Additionally, moving on a weekday can result in cost savings as compared to moving on a Saturday, which is the most expensive day to move.
Research your removalist: Do your research and compare and pick a removalist company that has plenty of great customer reviews published on a reputable platform like Google, Facebook or WordOfMouth. This will help you find the most cost-effective and efficient removalist for your move who won’t surprise you with hidden costs.
Downsize your belongings: Consider downsizing your belongings to minimise the cost of packing materials and storage fees. This may also make the move easier and more efficient.
Moving can be expensive, with many hidden costs that can catch you off guard. From unexpected expenses during the move to additional fees for storage or packing materials, moving can quickly add up. To help ensure a smooth and stress-free move, it’s important to budget for these hidden costs and plan accordingly. By following the tips outlined in this article, you can minimise the cost of your move and ensure a successful transition to your new home.
By using and properly preparing for a professional removalist, you can minimise the hidden costs of moving in Australia and ensure a stress-free transition to your new home. A professional removalist will be able to help you budget for the hidden costs of moving, provide packing materials, and offer affordable storage options. With their expertise and experience, a professional removalist can help you save time and money and ensure a successful move.
This article provides valuable information on the hidden costs of moving and how to budget for a stress-free move. By being aware of these costs and following the tips provided, you can ensure a successful transition to your new home and minimise the stress and cost associated with moving.