Hidden Costs of Moving Into a Bigger House
Hidden Costs Of Moving Into A Bigger House
With over 7.5 million people moving across state lines every year, it’s likely to happen to a household at least once in their lifetime. This tends to happen when families need to upgrade and increase their square footage or the number of rooms. With this in mind, there are a number of expenses to consider apart from rental deposits and hiring a removals company. Discover some of the items often overlooked when moving into a bigger home.
The New Property Has More of Everything
While added space is often a motivating factor for those on the move, it can also add to the costs. Not only does it need to be furnished, but it can also run up a higher tab in terms of heating and cooling. Added windows may bring in some extra light but it also means that more curtains or blinds are needed. If it’s one or two, it can easily be added to a budget but when there are more than just a few, the moving tab can be considerably higher. Yard space is another item on the list that is often overlooked and costs more in terms of maintenance, and so can a pool, water feature, or pond.
All the Utilities Creep Up
Within the first few months of moving into a bigger property, the utilities and levies tend to provide homeowners with a shock. This often proves to be a cash flow problem especially when property taxes are added to the mix. One of the fastest ways to clear up some of the cash flow, apart from extending the term on the mortgage, is by consolidating all those smaller debts into one, which is easier to manage. Another way to ease up the cash flow is by getting a tenant if the property has space for a flatlet conversion.
Traveling Distance To and From Work and School
Those who have opted to swap out the hustle and bustle of the city for quieter suburbia might have to fork out an extra few dollars just to get around. Traveling into the city to attend school or go to work can run up a high bill and before long, saving on the cheaper yet bigger property in the suburb suddenly doesn’t seem like much of a saving at all. If at all possible, change schools to reduce traveling time and find out what the company policy is on remote work in order to avoid the commute.
Bigger can be better with careful budgeting and by making allowances for increased costs. A different town or state might even offer the extra floor space at a much lower cost.
About the Author:
Is a freelance writer and editor, having previously worked in the home care industry for a decade.
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