How to move home without breaking the bank

Estimated reading time
 5 min

In this article

• The common costs of moving to a new home
• How to be financially ready for your big move
• Avoiding optimism bias for a stress-free relocation

Whether you’re packing up decades of memories, or making your fifth move in two years, moving house can mark the start of an exciting new chapter.

Of course, moving can sometimes be an overwhelming (and pricey) process. But with a bit of planning, budgeting, and saving, it can be manageable, stress-free, and hopefully even fun!

So whether you’re a seasoned house hopper, or you’ve been in the same burrow your whole life, it pays to be prepared. Our house moving tips can help get you moving without breaking the bank. Let’s get started.

What is the cost of moving house?

The good news is that the costs involved in moving across town will most likely be considerably less than if you’re planning to head interstate or overseas – but they can still add up. Let’s look at some of the common costs that you might come across when moving.

Moving materials

While planning to pack up your life, it’s easy to overlook the fact that you’ll need something to put it all into. That means smaller items like moving boxes, packing tape, permanent markers, bubble wrap or foam and newspaper, and bigger items like a moving truck and a dolly (for moving large items with ease).

  Hot tip:

You can often score free boxes and old newspapers from local grocers or stores receiving frequent deliveries. Give your local haunts the heads up in the weeks before your move and you might save some cash.

Removalists

While you can probably handle the cutlery drawer yourself, you may need to call in the professionals for some bigger items like a floor-to-ceiling cabinet, a king bed, or a big TV. Shop around for quotes to ensure you’re getting the best deal possible and always read reviews to see what others think of the company’s service. You can also ask family and friends for their recommendations.

Utility fees

Moving house often means disconnecting your utility services, like energy and water, and setting them all back up at your new home. While you might be able to transfer services, this is also your chance to find a better plan and potentially save some money.

  Hot tip:

While you’re on the hunt for savings, use the move as a chance to declutter your digital life. Going over your subscriptions can help you streamline your streaming services.

Storage

Sometimes your new lease or settlement won’t line up perfectly with the end of your existing agreement, so you may need somewhere to stash your stuff while you wait for the keys to your new place. Some people opt to use a storage unit to help move home in batches rather than in one go.

As with any service, there are different costs involved depending on the type of storage that you need. Research your options and work out where you can get the best deal possible to suit your needs.

Temporary accommodation

If you do find yourself with a gap between housing (and family or friends don’t have the space for you, the kids, and your friendly greyhound), you’ll need to budget for some temporary accommodation. This might be a serviced apartment, a sublet, or a house-sitting arrangement (perhaps for someone going overseas).

Ask around and check out house and pet-sitting websites. Who knows, you could even make a buck or two if you time it just right.

Care for pets and kids

Moving day can be stressful enough without having to think about entertaining little ones or keeping pets out of danger. If you have family or friends who can help out, great! If not, you might need to arrange child or pet care for the day of the move, which can add to the cost.

Cleaning and repairs

Depending on the condition of your existing home or the one you’re about to call yours, there may be a need for some repairs before handing over the keys or settling in. Work out what you can DIY, like adding a lick of paint to your walls, and what you might need the professionals for, such as fixing a cracked tile in the bathroom.

  Hot tip:

Taking care of these tasks before you move in can help make your new place feel fresh and welcoming and it could save you cash in the long run. It’s a lot harder to paint the house once you’ve filled it.

New furniture or appliances

Moving to a new space can be an opportunity for a whole new look (or at least an upgrade from the old couch your cat uses as a scratching post). Make sure to leave some room in your budget for the furniture or appliances that will turn your new digs from a house to a home. For example, if your new kitchen has a smaller spot for the fridge, then you might need to buy a new one to fit the space.

  Hot tip:

Make use of online marketplaces when it comes to getting rid of your unwanted items. Your trash could be someone’s treasure, and, at the very least, you might save money on a trip to the tip.

How can you get financially fit for the move?

1. Decide on a moving budget – it might be $200 or up to $10k. The amount you need will depend on the scale of your move.

2. Set up a ‘moving money’ account – if you have a long lead time before the move, you might want to set up a high interest-savings account to make the most of what you put away.

3. Make a list of moving costs – to help you keep track of spending and determine whether you’re going over (or under) your budget for the move. The ANZ budget planner can help you map out exactly how much you’ll need to save.

4. Get quotes from suppliers – ensure you’re on top of the costs involved in your move and factor those into your budget.

5. Enlist family and friends for moving day – you can always pay them back by inviting them over for a nice meal in your new place!

How to be realistic about the time, money and effort involved

So, you’ve bought a new home and you’re moments away from unlocking the door to your new life. It’s easy to let the excitement get in the way of reality. This is what we call ‘optimism bias’ where we overestimate the likelihood of having a positive experience and underestimate the chances of having a negative one. While a little optimism can make your move a happier one, you still want to avoid falling victim to optimism bias. You can do that with a solid plan and a detailed budget.

When creating your moving budget, be sure to have a buffer for unexpected expenses like a broken dishwasher or a last-minute locksmith callout fee. Getting the planning done allows you to enjoy moving day, so let’s get you packed up and ready for your next adventure.