Changing your residence can be full of unexpected moving costs, and the numbers can add up quickly. To properly prepare, both buyers and sellers need to know about these costs so no one is surprised at the last minute. Here are 5 unexpected moving costs Floresville buyers and sellers should be aware of.
INSURANCE COVERAGE AND RATES
All homes must be insured if they’re mortgaged, but going from one home to another can really change how much you pay for that insurance. Also if you are selling your home and it will be vacant for an extended period of time you really need to discuss it with your current insurance carrier. Vacant homes are insured differently than homes that are being lived in so you need to understand the differences in your coverages so you can prepare if you need to make adjustments.
If you move from a less affluent area to a more affluent area, for example, your insurance rates are likely to go up based on the values of the homes all around you. And if you move from a smaller home into a bigger home, your insurance cost will increase because you’ve got more to insure.
Be sure to carefully check over your homeowners insurance policy quotes before selecting the carrier you want to go with, and double-check that you’ve got the right amount of coverage for your home before purchasing. You also want to understand what is covered under the policy and what features like glass coverage or water coverage need to be added as endorsements. Plus insurance contracts vary from state to state, and that especially applies to automobile insurance and its possible changes in costs.
UTILITY FEES AND COSTS
Whether you’re moving in or out, differences in the types of utilities you use – and the fees to disconnect or hook them up – can be among the most unexpected moving costs for people. And those costs can add up as a one time cost.
If you’re moving out to a home with a propane tank, for example, do you need to pay to fill up the tank so there’s heat? What about when you’re moving in? Propane companies normally require a minimum fill up so instead of a monthly bill for usage the cost is to fill up the tank. Some propane companies will let one pay that on a monthly payment instead of an upfront full bill.
Many utility companies require a deposit or other utility hook-up fee, which can vary greatly depending on location. Before you get ready to move, call the local utility companies to find out what this fee will be so you can budget properly for it. Plus you need to verify the information required by the utility companies to turn on service.
No matter how hard you try, that old couch you’ve had for years just might not fit into that new living room. Or, the washer and dryer left by the previous owners that “worked great” suddenly isn’t working so well, and it’s either purchase new or get very friendly with the laundromat. Also the standard contracts in Texas do not convey the washer / dryer or refrigerator. So if those items are not part of the negotiations in the offer, they will be new purchases you may need to budget for.
Most moves have some degree of unexpected moving costs, and many of those costs center around replacing items that no longer work in the new space or that get broken during the move.
From things as small as a cracked picture frame or missing set of dishes to larger pieces like entire bedroom sets, you need to be sure there’s some amount of money left in your bank account to cover these expenses.
For sellers who are moving without having somewhere else to go immediately, or if you’re planning to downsize your space, you may need to account for storage costs.
If you’re moving from a four-bedroom home into a two-bedroom, you’ve got two extra rooms’ worth of stuff that has to go somewhere. And even if you plan to sell it, that’s unlikely to happen right away. OR start a purge when you get ready to list.
That way your current home will not have too much in it when buyers are viewing. You just need to consider what to sell and when because your current house does need to be staged properly.
Storage unit costs can add up quickly, but preparing for them can help you avoid one of the more common unexpected moving costs.
Even the most careful planners and budgets will run into some unexpected moving costs that relate to setting up a new place.
From having to repaint the living room that, once emptied of furniture, suddenly looks dingy, to a cracked toilet seat, it’s always best to leave at least a little cushion in your budget for the “just in case we need it” items that you’ll run into along the way. Some other things that can fall into this category include having to break contracts on gym memberships, or paying to get your driver’s license and registration updated with your new address.
And if you don’t end up using all of this contingency fund, treat yourself to a couple of nights of takeout during your move. You deserve it!
Do you need help planning for those unexpected moving costs in Floresville? Contact our team of professionals today at (210) 216-7722!
Floresville Real Estate Agent – Faye Y Taylor is here for help and to answer any questions you might have
Faye Y Taylor, Floresville TX Realtor®
Serving all of Wilson County and the South Texas area