How To Manage Your Money When Moving House
This week, wildfires have swept through Los Angeles County, so many people are evacuating and moving in with friends, family or into a hotel or airbnb. Moving is one of the most expensive and stressful things you can do! That’s why it's so important to ensure you stay in control of your money during the busy, chaotic and sometimes stressful times. In this collaborative contributing post, you can find out all about how to do just that with the expert tips below.
Budget
If you’re evacuating for emergency reasons, I actually advocate that you do what is necessary. If that means, putting meals on credit cards and such, do it. It’s better to not have to worry about the money and just take care of yourself physically. Moving, without an emergency, is another thing, and I do think it’s smart to anticipate some of the costs, so that it doesn’t get out of control. We’re not just talking about the cost of your new home either as there are many other things that you’ll need to factor in.
One of these is the legal fees involved when working with any rental or real estate agent. Then there is the cost of cleaning your old property, and sometimes your new one, as well as the costs involved on moving day such as removal service, or van hire.
Be sure to set all of these out well before the day of your move, and where possible, compare quotes from different providers to make sure you get the lowest price and the best value for money.
Have a Plan B
Another way you can stay in control of your costs when moving house is to think of the things that could go wrong and have a plan B in place to cover the cost of these things.
One example of this is when you find yourself in a property chain where your old house has not yet been completed, but you need to complete your new one. Something that leaves you without the funds to do this and in danger of losing your new home. The good news is that by ensuring you have access to a quick bridging loan if you’re in the UK, you can continue to make your purchase and not lose your dream home. Then once your old property has sold you pay the bridging loan back, minimizing any disruption to your life and finances.
Minimize Waste
You can also help to manage your money when moving house by minimizing waste. In particular the waste of resources such as time, energy, and effort. To do this is simple, as it just means you need to declutter your property before you move. Indeed, by making sure you don’t end up paying to transport items you no longer want or use to your new home you can actively save money. Many people even make money by selling these items as well.
Embrace DIY
Last of all, unless you are moving into a brand new home that you have a say in decorating, it's very likely that there will be some work that needs to be completed in your new property. Unfortunately, even simple decor can be expensive, so it can be useful to embrace DIY and do as many of the decoration and renovation jobs that need completing yourself.
Of course, you’ll have to make sure that you properly prepare your new home for any DIY work that you want to do. It also makes a lot of sense to ensure that you set a budget for each space and make sure that you stick to it. Otherwise, even the cost of DIY work can end up running away from you and putting your money management in peril.
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