Moving house is easy, said no one ever! There are so many things to consider when you move, and expenses are not to be forgotten.
How much can you afford?
You need to first of all make a list of all your current incoming and outgoings, including current bills, food and drink, going out and any creditors you owe money too. Once you’ve worked all this out, you’ll have a rough figure of what you have left to spend each month.
When you move, there will be lots of things that will change, including your payments. You may have accounted for petrol money in the above, that you won’t need because you’re closer/on a bus route etc. Here is a list of some of the payments which could change, though it’s best you do a little research also!
Council Tax
This changes depending on the size of the property and the local council, so it’s possible it could be more – or less – than your current place. Your landlord will know what band of council tax your new property will be, so it’s always best to ask
Gas and electricity bills
Find out if the property has a prepayment meter or monthly billing. If you stay with your current provider, they may be able to offer you a deal for staying with them, which will save you £££. You often pay more on pre-payment, so switching over to monthly payments will work out cheaper.
Water rates
Most people pay a flat rate but if you are on a meter you will be charged for what you use. That means probable savings for individuals or couples, but possible increases for bigger families.
Service charges
Some properties require an extra service charge, either paid monthly or annually. – This will always be outlined by the agent/landlord though, so not something that will be sprung upon you 3 weeks down the line!
Other bills
You’ll probably want a phone line and broadband services, and maybe digital or satellite TV. All of those can come with extra set up charges, and you’ll need a TV licence too. – Same goes for this as the electric & gas – perhaps if you stay with the current provider, you will received a discount.
Insurance
Buying contents insurance will protect your belongings from theft or damage. Ask yourself what you would do if you lost everything and then work out if you can afford to cover the risk?
The answer is probably no. Contents insurance can vary in price, from pennies per week up to hundreds per month, it all depends on what you want to cover, and the kind of cover you want. Other factors, such as the type of house, area etc will be taken into account also.
