The Hidden Moving Costs Nobody Tells You About
Thinking about moving soon? If so, first make sure that you’re able to afford it, especially if you’re moving to a major metropolitan area like New York City. Data collected by the American Moving and Storage Association shows that an in-state move costs an average of $1,170. The average moving costs between states is $5,630. And that is not including rent, utilities or other expenses associated with moving. From crazy moving truck rates to unforeseen fees, here are the hidden costs of moving that you should know about:
Deposits, Connection Fees and the Utilities You’re Leaving Behind?
Connection fees and deposits are unpleasant, but standard. However, you also have to keep in mind the utilities that you will be leaving behind. Oftentimes during a move, we pay two separate sets of utility bills, one set for our new space and one set for the space we are leaving. It’s normal for these bills to overlap but it’s not always at the forefront of our minds. Avoid the initial shock and be ready to possibly double up on your payments. Online resources like apartment finder service ForRent make it easy to look at apartments in New York City and determine what you’ll need to pay when renting. This will allow you to add up your expenses and get a true picture of what your monthly expenses will be.
If you’re ready to move into your new space you might just get an unexpected surprise. When your moves drag out or when there are complications with your new home you will likely have to put your belongings in storage. And it’s not cheap. The average costs of a 10-foot by 20-foot storage unit, according to Cost Helper, can range from $95 to over $155 a month. And, you’ll likely have to pay to rent a moving truck or a moving trailer to transport your goods from place to place again. That is money that you could spend elsewhere.
So, you tossed out your entire pantry before you moved. At the time, it seemed like a brilliant idea; after all, it was a few less boxes you had to not only pay for but pack and unpack. But you probably weren’t thinking about the cost of replacing all of the items you tossed. Although these items — think cleaning supplies, spices and herbs, dry goods and even small appliances — may not seem very significant at the time, you will eventually have to replace them and it will come at a cost. Rethink tossing out these small items before you pack up.
Here’s one you might have not thought about. When you move it is normal for your car insurance and even your health insurance to increase. Your car insurance may increase because of your new home’s location. For example, when you’re moving from a rural area or small town into a densely populated city, you can expect to see significant increases anywhere from 15 percent to 50 percent, according to data reported by Bankrate from the Vice President of Car Star. Health insurance typically follows suit. And, in addition to increases, you’ll need to check to see if your coverage changes, too. It’s typical for coverage to vary by state.
Your final moving costs may be way more than you initially expected. Avoid being surprised or overwhelmed. Instead, do your research to make sure you’re not spending more than you have to.