The Hidden Costs of Relocation

by | Feb 15, 2022 | Global | 1 comment

If you are moving to a new country because of work or simply relocating, you need to build your budget to support your move.

No pocketing the change by Pixabay
No pocketing the change by Pixabay

Moving to a new place, wherever it may be, can be very expensive and can empty your bank account even before you get to your new home.

While building your moving budget, you will definitely think about getting a moving company to ship your items to your new home. But there are other fees you have to deal with when you move.

Here are some of the hidden costs of relocation that you should be aware of:

Packing supplies

You definitely need to think about the steps involved in getting your stuff moved to your new home. If you plan to use a moving service, you may forget about the cost of packing supplies the service will charge you.

Always double-check with your moving service all the fees included in the bill. Some companies may charge you extra for packing supplies, especially for delicate or large items.

Moving insurance

There are cases when some of your items get damaged during transit to your new home. If you plan to get a moving company to help you, they are liable to pay you if any item gets damaged under the clauses of the moving insurance their service includes.

Read up on the coverage plans they have and ask how much you have to pay to get moving insurance for your items. The claim for damage may take a long time– sometimes up to a year for you to get back the money!

Not getting your security deposit back

Not all landlords will enable you to get your security deposit back once you move out of their place. There are chances that once you move out, the landlord will see damages that you may or may not have noticed, which will give your landlord a reason not to give it back.

Some landlords may find other reasons not to give you your deposit back especially if you did not fulfill the full term of your lease.

Boarding your pets

If you have pets with you and you want to take them along for the move, you need to pay pet boarding fees as you hunt for a new home. Hotels don’t often take kindly to animals so until your new home is ready, your pets may have to be boarded.

Renting storage space

It is not always a guarantee that you will be able to get a larger home when you move. But if you don’t want to sell your prized possessions so you don’t have to move them, renting a storage space is possible. While these storage spaces are good temporarily, they do cost a monthly fee which can be a problem for your budget.

Upfront deposit

If you are renting your new space, you need to pay an upfront deposit to secure it. Some landlords may even ask you to pay a pet deposit if you bring your pets with you. Utility companies can also ask for a deposit if your credit is not good.

Food and lodging

Filling in the gaps by Arhe Molina
Filling in the gaps by Arhe Molina

As you move, you will need to dine out or book a hotel room while everything is still being sorted back in your new home. Allot some funds for these expenses so you don’t have to worry about running out of funds while waiting.

New big-ticket items

Finally, your moving budget must consider how much you will pay for new big-ticket items that you will get for your new home. You won’t be shipping your bed, wardrobe, and sofa across the globe because the shipping will probably cost more than new furniture.

Set a budget on how much you will spend on these items and what other new appliances or supplies you need to get.

In other words…

Moving to a new country is an extraordinary event few people get to experience. If you will be moving, make sure that you plan your move accordingly so you won’t run out of funds.

Have you made the “big move?”  If so, were there any additional costs you didn’t anticipate?

By Kally Tay