Anyone who’s moved house before will tell you that the rent or purchase price are only part of the cost of moving. Many other expenses quietly add up in the background.

If these catch you off guard, you could find yourself worrying about where you’ll find the extra money, rather than relaxing in your new environment. Cut down on the stress of moving by planning for these costs in your moving budget.

Here are some things to keep in mind before you head for your new home.

Deposits and fees stack up fast

If you’re buying a home, your home loan may require you to pay an agreed deposit, which could be around 10% of the purchase price. You’ll also have to pay deposits to the municipality for various municipal services.

Rental deposits are usually 1 to 2 months’ rent, and that’s before you add the municipal deposit, which your landlord may also ask you for. If your previous landlord hasn’t refunded your deposit yet, you might find yourself covering 2 deposits at once.

Other potential fees to consider

• Electricity and water connection fees.
• Fibre or wifi installation.
• Key and remote-control deposits.

Bond and transfer costs

If you’re buying a home, you’ll need to pay upfront home ownership costs. Bond and transfer costs are the legal fees you pay to the bond attorney appointed by the bank and the transferring attorney appointed by the seller to transfer ownership to you. These costs vary according to the size of your home loan and the property price. Use our transfer and bond cost calculator to get an estimate.

Packing and transport

Even a small move can be pricey. Movers charge according to distance, load size, labour, and timing – month-end is usually the most expensive. However, renting a truck yourself doesn’t always save money. Once you add fuel, mileage, and labour, it may not be cheaper.

Your most cost-effective option may take a bit of homework – to find an affordable, reputable professional company to handle the entire move, from packing all your boxes to unloading them in your new home.

Typical moving expenses include

• Hiring a moving company or renting a moving truck.
• Fuel, tolls, and parking.
• Extra labour for packing or carrying furniture.
• Moving insurance – check the extent of the moving company’s guaranteed cover and make sure your own insurance will cover any gaps.

Always compare at least 3 quotes before making moving arrangements.

Don’t forget storage costs

If you're downsizing or there’s a gap between leases, you may need a storage unit. Monthly storage costs depend on size, security, access, and location. Don’t underestimate how long you’ll need the unit – most people budget for one month, but end up paying for 3 to 6 months.

Extra storage expenses to consider

• Insurance on stored items.
• Transport to and from the unit.
• Climate-controlled storage for delicate items.

Packaging costs more than you think

Boxes, bubble wrap, tape, and labels seem cheap until you realise just how much you need. And if you don’t have time to pack yourself, professional packers can be much more costly than you might expect.

Budget for the following small but easily forgotten essentials if you want your belongings to arrive safely:

• Special boxes for TVs, mirrors, and art.
• Protective blankets for furniture.
• Plastic wrapping for mattresses and couches.

Cleaning fees and repairs

Moving out usually comes with a cleaning bill. Some landlords require professional cleaning of carpets, ovens, and windows before they’ll refund your rental deposit.

The following small items may be cheaper to repair yourself, rather than having the cost deducted from your deposit:

• Picture-hook holes.
• Scuff marks.
• Broken handles or loose cupboard doors.

Furniture replacement

A new home seems to expose all the flaws in your old belongings. Maybe the couch is the wrong shape for the lounge space. Maybe your fridge is too big to fit into the gap between kitchen cupboards. Maybe your décor suddenly looks … outdated.

Common upgrades include:

• Curtains for different-sized windows.
• A new bed or couch.
• Extra storage solutions for smaller homes.
• Outdoor furniture (if you now have a balcony or garden for the first time).
• Small décor touches like scatter cushions, lamps, shelves, or rugs.

Whether large or small, all these changes can make a dent in your finances, so plan for them in your moving budget.

Cost of living changes

Moving neighbourhoods can come with lifestyle changes too:

• Higher transport costs if you’re further from work.
• Groceries may be more expensive.
• Higher levies and more incidental charges in sectional-title complexes.
• Higher security costs. Research the crime statistics and risk levels in your new area before you move – if you’ll need to upgrade your home security, it could add significantly to your moving costs.

Technically, these changes aren’t ‘moving costs’, but they will all affect your monthly budget when you relocate.

Create a moving checklist for smarter planning

Moving house is exciting, but hidden or unexpected costs can come as a shock. Be prepared by planning for these expenses while you’re looking for a new home, and you’ll suffer less financial stress. Create a step-by-step moving checklist that covers everything – from which payments are due when, to how your belongings should be packaged. Then tick off the steps as they’re completed, and moving day will run a lot more smoothly.

If you're budgeting for a big move, consider using a designated savings account to put away money for moving expenses. If you need to cover moving costs right now, an affordable personal loan could be the solution. Moving is a fresh start – plan properly, and it doesn’t need to break your budget.

Disclaimer

This article is for general information only and does not constitute financial advice under the FAIS Act. Nedbank accepts no liability for any loss arising from reliance on this content. Please consult a qualified adviser before making financial decisions.