The Real Cost of Moving House

It sounds fairly simple, a change of address and a new place to sleep. However moving house can create numerous problems for a family, in particular a financial burden that can be felt long after the move is finished. Forgetting to factor in the cost of moving house can leave you short whether you are planning to sell and buy again, buy and not sell (in case of a first home buyer or investor), move out on your own and rent or simply change rentals.

Let's look at each individual cost of moving house in each possible scenario.

Selling and Buying Again

When planning on selling there are a few expenses you will incur regardless of where you live. They are:

• Legal expenses - few hundred to a few thousand dollars, depending on whether you choose to self-conveyance, conveyancer or solicitor.
• Real Estate Agent Fees - typically allow between 2-5% of your property sale price
• Government charges also known as stamp duty - can be almost 4% of the purchase price when buying again.
• Lending Costs - these are establishment fees or application fees. Always shop around for the best product to suit you.
• Pest and building inspections - Some states require these before marketing but you are mad not to obtain your own independent reports on what is one of the largest transactions you will make in your life.
• Removalist - Again these vary depending on the level of assistance you need. Backloading is an option worth considering to keep your costs down.
• House cleaning and yard maintenance - a consideration if you don't have time, employ the professionals to take away the hassles.

If you are buying but not selling, that is either you are a first home buyer or an investor - some of the above applies but could also include:

• Advertising costs - if you are moving out of a rental before the lease finishes you may have to cover the cost of advertising or the in the fact the whole rent until a new tenant is found. Similarly if you are leasing the property, you will need to cover the cost of the mortgage, advertising and repairs or cleaning that may need to be done.
• Furnishing/finishing - if you have bought a new home whether for investment or as a residence there is always something that is going to be needed to be completed or finished off.
• Bond - security bond to held until you move.

If you are relocating for any reason, here are some other costs to consider:

• Storage - How much space? How long do you need it?
• Connection - Cost of connecting utilities, telecommunications and pay TV.
• Rubbish removal - Is there any junk at the new place or that you brought with you?
• Insurance - for goods in transit, contents and landlord/building insurance.

It always pays to budget a little extra, just in case there are any hidden costs on the items above. The better you plan for the move, the more likely you are to see costly issues.

About Author: Tiron Johnson is a freelance writer and home DIY enthusiast. He enjoys writing about all aspects of lifestyle and home improvement. At times he writes for backloading removalist, Acrobackloading.