BUDGET YOUR MOVE

Investing in a new property involves committing to a significant financial investment. This investment is spread over a considerable volume of commitments, making it vitally important that you draft a detailed financial budget. Not only will this enable you to forecast the unexpected – providing some needed wiggle room – whilst ensuring that you are able to keep your spending on track.

The Do-It-Yourself move

Prior to diving into the research, it’s easy to assume that the Do-It-Yourself move is going to be the most cost effective option. Whilst there are scenarios where this can definitely be the case, especially if your new home is within a short drive of your old one, but there are additional factors to consider.

Moving yourself is undoubtedly the more time consuming of your options. In essence you’re trading your time against the cost of hiring professionals. This can be attractive, especially in light of all of the costs which can’t be avoided when it comes to moving, but you do need to consider the personal costs that you’ll incur.

You may need to take time off work, you may also need to recruit family and friends to help, and you’ll need to provide food and beverages to compensate them. You may need to hire commercial vehicles, which may also require additional insurance payments and if the move is over a longer distance, you may need to factor in hotel rooms.

Hire a professional

All of the hidden costs and effort involved with the DIY move can make the professional approach more attractive, even in light of the costs. These higher costs are somewhat offset by the fact that they’re more budgetable, as professionals are able to wrap all of the costs outlined above into one package.

Aside from the (potential) extra cost, there is more research involved with the professional approach. Many people leverage word of mouth and friends recommendations to help them find the right partner. It’s important to collect references and quotes from a number of companies, with three quotes been the minimum recommended.

Also, ensure the removal firm has the requisite insurance in place and remember, the old adage that “you only get what you pay for” rings as true in this space as any.

Packing, timing and storage

There’s a lot of ‘softer costs’ hidden amongst the packing and storage phase of moving. Certain companies can help you estimate the volumes of packing materials needed, which can save on wastage.

When it comes to timing, you’ll need to consider the off-peak/peak relationship with costs. Peak times cost more and careful budgeting with comparisons can help ensure that no false economies occur. Finally, the moving process often leads to storage requirements. Outdoor storage units can be rented or bought, providing a flexible and cost effective solution.