Moving house is exciting and refreshing, but it can also be stressful, especially as unexpected costs pop up. You may wonder how you can save money moving house, which will make the process smoother and more relaxed.
By planning early how you’re moving all your items and how to do so at minimal cost, you can save a lot of money and move in the most efficient way. Speaking with your accountant is another great way to sort out costs you may not have thought about, helping you get a head start on your big move.
In this article, you’ll find tips on how to save money and the benefit of planning ahead of your move.
Photo by Handiwork NYC on Unsplash.
5 Ways to Save Money Moving House
1. Plan ahead.
Before you move, it’s important to plan ahead to help save you time and money. By having a plan in place and budgeting for your move, you can avoid paying excess fees, like paying for moving boxes, bubble wrap, movers or a rental truck etc.
For example, if you’re buying new furniture, try to sell your old furniture first and don’t pick up your new furniture until you’re at your new place to avoid paying additional fees to move it.
Budgeting ahead of time will let you assess how much the move will cost and have time to organise alternative ways to cut costs, like borrowing a friend’s ute, sourcing free moving boxes and selling old items.
2. Pack your own boxes.
Packing your own packing boxes cuts out the cost of hiring movers. You can also cut out excess costs like materials used to wrap items, like bubble wrap and loose fill packing peanuts (while also helping the environment).
Instead, pack boxes yourself and use towels, soft linen and clothes to wrap delicates. This way, you’ll save money on packing materials, all while using up less space.
3. Sell your unwanted items.
Selling any items you don’t plan on taking to your new home is a great way to save money (by making money) and reducing the cost of transporting those unwanted items to your new home. For example, if you’re planning to purchase a new couch, sell your old couch before you move then buy/pick up your new couch after you move so you don’t have to pay for moving the old couch to your new place.
You can also sell your unwanted items, whether that be furniture, clothes, technology, or your car, many different ways.
Online marketplaces are a great way to sell your unwanted items, such as Facebook Marketplace, Gumtree, eBay, Depop and Carousell. You can have people come to you to pick up the item/s you’re selling, meet them somewhere or ship the item to them. This can make it easy when you want to get rid of something quickly, showing it to people who may be searching to buy an item like yours.
If you’re selling a lot of items, a garage sale may be the way to go. Put everything you want to sell on display in your garage (or front yard) and put signs up around your neighbourhood to advertise your garage sale. However, people tend to bargain at garage sales, so don’t expect to be offered too high of prices.
You can register to sell your items at your local marketplace. Farmer’s markets and schools often host weekly or monthly marketplaces, which is a great opportunity to sell your items where potential buyers would be. Especially if you’re mainly selling clothes, marketplaces are a great place to set up a second-hand clothing stall.
Another great option is to donate your items. This will help support those in need, by donating to specific charities seeking items like clothes or furniture, or by donating to your local charity. You can also receive a tax deduction when donating items.
4. Locate free moving boxes.
Locating free moving boxes instead of paying for them is a great way to save money when moving house. Look online on places like Gumtree or FreeCycle to see if there are any free boxes you can use to move your items. You can also ask your local grocery store, Officeworks or Bunnings to see if they have any boxes to spare.
Once you’re done moving, you can return the favour and give the boxes to someone else by listing them on similar platforms. Or, head to your nearest The Recycling Bank (The Box Cycle) or Container Exchange to earn credits for recycling your boxes!
5. Speak to your accountant.
When moving house, speaking to your accountant can help you prepare for your move in addition to planning your future growth and asset management.
The moving process can get quite hectic, so it can be handy having an accountant to give you the reassurance you’re effectively managing your money and assets in the short and long term. Accountants will also have the knowledge and skills to help you find where you could possibly save money and time on insurances, utilities, etc. while you’re changing addresses.
Total Account Partners says in an article titled ‘7 Ways Your Account Can Save You Money’, most people think of an accountant as just doing taxes and only go to one when they’ve spent money, but they can help save you money too.
“An accountant doesn’t just advise on tax! They have a wealth of experience in business development, optimising growth and wealth creation that can put both personal and business finances on a more favourable footing.”
Besides moving house, accountants can also help you with forward planning, which helps you manage your assets, like a new home, and your financial strategy, helping you cut costs and save money in the long term.
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