Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
Calculating moving costs can be tedious and exhaustive. It is essential to include any and everything that you can think, so you are not in the red after the move. The basics are utilities, transportation, supplies and miscellaneous costs.
When moving, one of the first items to be taken care of are utilities. Depending on your utility company, it may cost to disconnect services as well re-connect. It is important to speak with the utility company in advance about their policies and fees associated with disconnection and reconnection. Within the same city, it may be a transfer and not require any additional cost. Most utility companies require a deposit and connection fee to turn on new services. While the amount may not be large, figuring it into the moving budget can help reduce the stress of paying for everything.
While it would be great if we could move using cars, it would be time consuming and costly. Using a rental truck can reduce the time needed to move and the cost of making multiple trips. While renting a moving truck can appear to be most economical, there items to take into consideration. Items such as deposit, insurance, gas and over mileage fees can add up fast. To avoid being caught off guard, try mapping your route. Doing so will provide an approximate distance and will determine if the mileage will fall within the mileage range provided by the rental company. If it does not, you can approximate the cost of overage by asking what the rental company charges per mile over the set mileage.
If you decide to move yourself, there are several costs to take into consideration. The first cost is supplies. Boxes can range upwards of $2 each. Depending on how much there is to move, this cost can rise above the anticipated amount. To reduce the cost, try donating items that you no longer need. The second cost is cleaning and repair. Depending on how well you kept your place, there may be repairs that you will need to make. Before you run off to the store, check your current supply of items. If you already have some the items, this reduces how much you will have to purchase. It is best to make a detailed list of repairs to be made and what items will be needed to make the repairs. If you are unable to make the repairs, speak with the property owner to determine how much will be charged for the repair of damages.
Miscellaneous costs can add up quick. They range anywhere from eating out to tipping the movers to hotel costs (if moving long-distance). The best way to handle these costs it to set aside a specific amount to cover any unidentified, potential cost for at least week. Also, add in extra funding for items to turn your new house into a home. By doing so, it will allow you time for setup and adjust before returning to a normal routine of living.
- 3 Reasons Banks Reject Short Sales
- How to Get Approved for an FHA Loan despite Bad Credit
- FHA Loans for a First-Time Home Buyer
- FHA Eligibility with Bankruptcy and Foreclosure
- 3 Common Short Sale Mistakes
- Second Mortgages: Advantages and Disadvantages
- What To Do When Mortgages Default
- Home Equity Loans for People with Bad Credit
- Low Down Payment Loan Qualification