This is a collaborative post.
After spending often extortionate sums to secure yourself a new home, the chances are that you want to hide under a rock and never spend another penny. Unfortunately, the process of moving itself costs an average of £12,000 on top of that upfront property cost. It’s no surprise, then, that moving house can be one of the most stressful experiences any of us face, and it can certainly feel like frugality is impossible to achieve during this period.
Luckily, while some money is inevitably required for things like solicitors and moving companies (which are non-negotiable unless you have access to multiple vans and willing helpers!), there are still steps you can take to stay frugal at this otherwise expensive time.
Keep on reading to find out what they are.
Step 1: Try to bag a bargain on your new property
Generally speaking, the cost of your property itself doesn’t make a difference to the amount you’ll spend on moving. After all, this money is typically drawn from funds that you get from selling your property in the first place, making it a largely separate financial matter. However, bagging a bargain on your new place can be useful for freeing up more funds that make the move itself financially viable.
This is true whether you’re paying for a property upfront or are seeking a mortgage. Simply offer below the asking price where possible (around 5-10% under is pretty average), and complete a survey before purchase to ensure that you can reduce that price according to any work that’ll make your move more expensive later on.
Step 2: Source moving supplies creatively
Given that you have a whole house to move, even the sourcing of cardboard boxes and other packing supplies could set you back by a few hundred unless you get creative. Luckily, many moving companies will supply packing boxes on request but, if you aren’t opting for a traditional moving company, creative solutions like asking around your friends or even at local retailers could save you a bucketload.
Step 3: Cancel utilities as soon as you can
A large part of moving costs comes down to utility bills and taxes that often overlap between properties, especially if there’s a gap between getting your keys and moving in. Admittedly, you’ll need to pay council tax on both properties as soon as those keys are in your possession, but you should be able to talk with your council about exact cut-off dates to ensure you’re never stung for an additional month in your old place. With things like the internet, though, going without for a week or even longer will be more than worthwhile if it saves you paying another month, and shouldn’t be all that difficult to manage considering how busy you’ll be during that time anyway.
Savings during a house move can feel like a drop in the water, but every little helps, and making small efforts like these could save you from going completely over the financial edge before you’ve even arrived at your next property.
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