By: Jamie Kreps
Trying to cut costs on a move can be a tricky process – especially when there are a number of ways that hidden costs can sneak up on you. Knowing what to watch for and how to address them is the first step to avoiding costly mistakes.
Since moving costs involve much more than the moving company’s rates, it’s important to consider all angles when planning a move. The big picture of moving expenses includes everything from storage and delays to parking tickets and utility set-up fees.
“Whatever your final moving cost may be, it’s often higher than you anticipated. Moving can be expensive, in part because you aren’t just hiring movers.” – USNews.com.
Anticipating the Hidden Costs of Moving
While there’s no way to truly anticipate every possible hidden fee associated with moving, there are ways to prepare for at least some of them. You’ve likely figured out that moving expenses include items well beyond the moving company. In fact, many people planning a move are so focused on the specific cost of a moving company that they are later blindsided by costs they hadn’t thought of.
The Delayed Effect
One of the largest contributors to hidden costs of moving lie with delays. It may seem trivial, but anything that delays your scheduled move will inevitably start racking up extra fees.
Delays can happen from home-closing issues, overbooking moving services, and a multitude of other possibilities. When you have a home move delayed, it can mean forcing you into storage rentals, temporary housing, and a plethora of other costs.
In most cases, utilities aren’t too difficult to switch, but they can also be a source of added financial stress. There are often times hidden costs associated with either terminating an old service or setting up a new one.
Utility companies frequently require deposits, down payments, and other pre-paid fees before they will begin a new service. In addition, your old utility may have some back-charges, late fees, or fees for equipment that isn’t returned (or early termination if under contract). To make matters worse, these fees can come due all at the same time, making for an expensive month.
Travel and Logistics
If you’re traveling a long distance to your new home, or unfamiliar with the area, it may come with some hidden costs on its own. You’ll want to research any potential toll roads and parking areas along the way. If you don’t know specifically what areas are designated for public parking, you could accrue some major expenses in the form of parking tickets and other fees.
Double Mortgages and Rent
Depending upon your moving situation, a move can sometimes leave you with a month of double payments. If, for example, your previous home hasn’t sold before your move into a new home, you may be forced to make payments on both locations until it sells. This can also happen if you are faced with a closing delay that puts you into a temporary rental situation until you can move into your new home.
Overall, the best thing you can do is research your new neighborhood for any potential issues. You can also speak with your movers NJ to discuss any insight they may have on hidden moving costs. Above all, know that you’ll likely be unable to avoid all of the hidden costs of moving, so be prepared by setting aside a small contingency budget to help lessen the blow.