The excitement of buying a new home or starting a new lease soon wears off come moving day. It is a rare person that enjoys the lengthy process of packing up an entire life and transporting to an entirely new place, and then unpacking it all again!
As if it wasn’t enough that the process is so tedious, it also comes with a number of hidden costs. Below, we’ve listed the 10 most common hidden fees to be aware of when you’re moving home. Let’s take a look.
Specialty Items Premium
Large, heavy and bulky items, as well as expensive, fragile goods such as statues, ornaments and old vases typically need to be handled with care. This extra care and hard work are likely to cost you an additional fee, and for more expensive items, you may need to contract specialty movers, who will charge a premium. Even having the regular moving company guys rebuild your furniture at your new place is likely to cost you extra, so be sure to ask about it in advance to avoid surprises.
Accommodation and Storage
Relocating long distance? Or moving from your old place before the new one is ready to move into? Sometimes it’s unavoidable, and this generally results in you having to find temporary accommodation. From staying in a hotel for a night or two to renting an apartment for 6 months, it’s unlikely you’ll find something free of charge, so be sure to budget for it. As well as finding accommodation for yourself, you’ll also need to arrange storage for your belongings during this time.
If you’re relocating long distance, you’ll need to arrange travel. Unless you choose to hitchhike, this is also likely to incur a cost. From airplane tickets to the gasoline it takes for you to drive to your new place, this cost can increase quite dramatically if you’re relocating abroad or to the other side of the country.
Utility Connection Fees
Arrange to hook up your utilities in your new place in advance, otherwise, you might find yourself sitting in the cold and dark for the first days in your new home. It’ll typically cost you to have your water, electricity, and gas reconnected, and prices can rise even higher if someone needs to be sent out to your home. In addition, it’ll also typically cost you to have the utilities disconnected from your old home.
Insurance Premium Alterations
Things like car and life insurance premiums are to some extent calculated based on where you live. When you move to a new area, you may find that your premium has increased. It’s worth shopping around in this case, as your current provider might not offer the best rates for your new location.
It often takes a few days to finish the process of moving into your new home. While many take the time off as paid vacation, this isn’t a luxury everyone can afford. In this case, the time you take off will typically result in lost wages, unless of course, your boss is extremely understanding!
Tips and Takeout
Want your movers to take care of your new walls and furniture? It’s worth looking after the guys who are moving your life from one place to another, and tipping has become the norm. In addition, you’ll probably need to order takeout at least for the first day in your new home. If you really want to make a good impression, a slice of pizza is sure to be appreciated after a long day of hefting boxes and furniture around!
If you’ve bought a new house, but haven’t been able to sell your old one yet, you might have had to take out a bridge mortgage to cover the down payment in the meantime. While incredibly useful for homeowners in this situation, it does cost more than if you were able to cover the down payment yourself.
Land Transfer Taxes
When you buy a new house, you’ll be required to pay the land transfer tax in order to put your name on the deeds for the land and property. Each province differs in how the tax is calculated, but it’s typically based on the sale price of your new home. This is one to be well aware off, as it can be quite a pricey fee to forget.
Buying Back the Things You Forgot
No move is ever perfect, and inevitably some things were thrown out that should have been packed up. Either that or the previous owners decided to take everything from the toilet seat to the light fixtures! The cost to replace these typically small, though numerous, items can soon build up into the hundreds of dollars.