The Hidden Costs of Moving Home

OK, not so much hidden, as easily overlooked costs, which will soon blow your home moving budget.

A few pounds here and there soon add up, and of the 15 additional moving costs to factor into your home moving budget that we will look at here, you could easily run into many hundreds of pounds in extra bills.

It is always worth spending the time to create a budget spreadsheet, whether on paper or your preferred electronic device.

Having your budget laid out in front of you will help ensure that you don’t overlook any costs. As well as the things listed that can easily be forgotten, depending upon whether you are doing a self-move or hiring a professional removal firm, you may need to budget for any or all of the following:

• Removal Company Hire Cost
• Packing Services
• Self-Drive Van Hire
• Fuel
• Van Insurance
• Collision Damage Waiver
• Hire of moving equipment
• Packing Supplies
• Food & Drink on moving day – especially if moving long distance or having friends help you

You may also like to read: How to Set a Moving Budget: Moving Budget Checklist. This guide explains how to create a home moving budget checklist, the things to include, and things that you may forget to include.

15 Home Moving Costs to Include in Your Home Moving Budget.

#1 VAT

It is worth checking that what you are being quoted for your home move, whether hiring a van or hiring a professional removal company, includes VAT. That £130 van rental charge will soon become £156, and a £2800 removal company charge will become £3630.

#2 Home Moving Insurance

Insuring your home move is important. Ensuring you have the right cover for every eventuality, and to cover everything, is essential.

• In Transit Insurance – This is a specific insurance policy to cover your items whilst they are moving from A to B. Typically this will cost: £60,000 of cover for £385-£500, £40,000 of cover for £275-£370, and £10,000 of cover for £110-£205
• Late Key Waiver – In the event that there is a delay in your keys for your new home being handed over to you, your removal company may charge you an hourly waiting rate which could run into hundreds of pounds. You can take out a late key waiver which would cover these costs in such an event, the insurance would cost between £50-£80
• Cancellation Waiver – Should your move be canceled, your removal company may well charge you a percentage of the estimated removal costs, and should your move be canceled on moving day they could charge you 100% of the removal costs. Insurance to cover such an eventuality costs between £50-£90

Must read: Home Moving Insurance – Is It Worth It? We look in far more depth at the different types of home moving insurance that are available, what the average costs are, and whether taking out insurance is really worth the cost in this invaluable guide.

#3 Storage

Bad weather, legal delays, being unable to get the keys to your new home, or any other number of reasons mean that you may have to put your things in storage for a while. For the contents of the average 3 bedroom house, you would be charged about £100 a week. Add into that insurance cover: £75-£130 for £10,000 worth of cover and £40-£100 for £5,000 worth of cover.

You may also like to read: How to Choose a Storage Unit. Not all storage units are equal and choosing the right one for your particular needs takes special consideration. In this guide, we explain what to look for, and what to avoid, we explain the sizes available, and the average costs involved in hiring a storage unit.

#4 You need to move more things

Come moving day, you find that the number of boxes to move has increased, or you forgot to mention that another wardrobe would be going with you.

Not only could you find yourself in a situation where everything will now not fit onto the moving van, but understandably the removal company will charge you for the extra items.

Ensure you have a home moving survey done by the removal company to get the most accurate moving price, and be sure to show them everything you wish to take.

You may also like to read: Why It Pays to be Honest With Your Removal Company. In this guide, we look at things that could not only increase your moving costs but could make moving day a stressful event for everyone.

#5 Repairs

Taking pictures off the walls may leave holes in the walls, trying to get that wardrobe down the stairs you may scrape the walls, or when you move furniture you find rips or stains on the carpets.

All of these things will need repairing before you leave your old home.

Equally, you may find that there are damages that you have to fix at your new home. Factor in a budget to cover such things.

You may also like to read: Common Repairs to Do When Moving Home. This guide suggests all the little repairs that may need doing before you leave your old home and things that may need your immediate attention in your new home. This will help you be prepared both with the tools and materials you need and will also to help with your budgeting.

#6 Cleaning

You may well have enough materials for a deep home clean before you leave your old home, but you will likely want to give your new home a thorough spring clean.

Cleaning materials are not cheap and you could need specialist cleaning materials for some things. Have a sum of money spare for such things.

#7 Security Deposit

Ensure you have complied with all the terms necessary to get your security deposit back from your landlord. If you lose the deposit and have that money earmarked for other moving expenses or your new home, your budget will have a gaping hole.

You may also like to read: What to do When Moving Out of a Rented Property. This is an essential checklist of things to do when moving out of a rented property to ensure that you get your tenancy deposit back and that you do not incur any charges after you have moved out.

#8 Deposits

Some utilities or services in your new town may require a deposit to connect you to their services. Check with your providers that there are no nasty surprises waiting for you.

#9 Set-Up Costs

Equally some suppliers may charge you set-up costs, so it is worth asking the question.

#10 Replenishing

Having run down your fridge and cupboard supplies you will need to restock. Plan on doubling your normal grocery budget in the first week.

#11 Parking Costs

If your removal van needs to pay for parking whilst loading and loading, you would normally have to foot that bill.

You may also have to pay to park your vehicle at your new home, so check in advance whether you need permits or you pay at a meter.

#12 Getting to your new home

The cost of this is easily overlooked, especially if you need to return a hire van. One-way rentals are usually extortionately expensive. Factor in transport costs to get you to your new home.

#13 Mail Redirection

Mail can be redirected for up to 3, 6, or 12 months from £31.99 for each different surname in your family.

#14 Breakages

Even with the most careful removal company, and the best packing in the world, accidents happen. If a vase gets damaged that is not an immediate replacement cost, but if your coffee machine gets damaged, that could be tragic and will need replacing immediately. An emergency fund for such things would be prudent.

#15 Boarding Kennels

It is safer and less stressful for your pets if they are out of the way on moving day. If you have to put them into kennels for the day you will need to add this to your budget.

The same will apply to children if you have to pay a babysitter to look after them on moving day.

Now you have an idea of the type of things that could add unexpected costs to moving day, you will be better able to prepare your home moving budget.

Even taking all of the above into account it is wise to have a contingency fund of an extra 10% just in case.

Bonus Budgeting Tips For Moving Home

Don’t forget to budget for the relocation of items that your removal company is unable to move for you.

Things like hazardous materials, perishable foods, plants, animals, and particularly high-value items or collections (check with your removal company what they will not move for you).

Remember also that there may be a gap between you having any deposits repaid and having to pay for new deposits.

Even if you intend to move home yourself it is worth getting an estimate from a professional home removal company.

Not only will you then have a rough idea of how much a home move could cost, but when you start to add up all the expenses, stress, and time that a self-move will cost, you may realise that hiring a reputable removal company is actually really good value for money.

And although it is not directly a cost, the cost implications of not choosing a removal company wisely could be huge. Although not common, fake removal company scams do happen, so take steps to protect yourself.

Spend some time comparing different moving company prices and services, thoroughly research each removal company you are considering hiring, use reviews websites, and confirm that they are a legitimate company by checking out their company house registration.

You may also like to read: A Step-By-Step Guide to Picking a Good Removal Company. In this guide, we take you step-by-step through the process of finding a good removal company.

Of all the things you can do to keep your budget in check, and reduce your moving day costs, decluttering your home is the one must-do thing. You will save time and effort, packaging and transportation costs, as well as having a clutter-free new home.

There are a few simple considerations for decluttering your home: If an item is not seasonal and you have not used it in the last 12 months, do you really need it? Will the item physically fit in your new home? Do you need it? Is it cheaper to replace than pay to transport?

Once you have identified the things you no longer need then they can be donated to a worthy cause, given to friends and family, sold, or sent for recycling.

You may also like to read: The Epic Guide to Decluttering for a Home Move. Decluttering is such an important aspect of moving home that we have created an epic guide to this very subject. Room by room we explain the best way to tackle this extremely important home-moving task.

Cheap isn’t always the best way to go, especially when moving home.

A home move that is stress-free, safe, and offers value for money is a far better goal to aim for.