How to be financially ready to move house

Estimated reading time
 5 min

Learn all about

• Everything you’ll need to plan and execute a smooth move
• What a tree change is, and if it’s right for you
• How to plan for a move overseas
• Getting settled when you first move to Australia

There’s nothing quite like turning the keys (or entering the code) in the door of your new home.

Whether you’re starting fresh in a new space, a new city, or a new country, it's a big life moment that brings big opportunities along with it.

Depending on where you plan to call home, there will be different things to consider and budget for. We’ll guide you through all the steps you need to take before you reach your new front door, no matter your final destination.

Getting ready to move into your new home

When you’re moving to a new area – be it a suburb hop or a big leap to the other side of town – a budget is essential. While the cost to move house will vary depending on your household, building a budget will help keep you financially on track when unexpected expenses pop up.

Here are five common things that, depending on the extent of your move, you may need to plan and budget for:

1. Removalists to help with the heavy lifting (and moving) of larger items – you can probably move smaller items like clothes and cutlery yourself.

2. Fees to disconnect utilities at your old home and connect them in your new one.

3. A storage unit in case you need to store items when you’re between places.

4. Anything that needs to be repaired or cleaned in your new and old homes.

5. New furniture or appliances to suit your new space.

Uprooting for a tree change

If you’re ready to uproot your suburban life for a tree change to a regional, remote (or very remote) area, being financially ready should be priority number one.

Here are some tips to get you started:

• Set a savings goal to help you work towards a home deposit in your new town.
• Research the cost of living in the regional area you want to move to. This can help you manage your expectations and budget for potential increases – and decreases – in everyday expenses.
• Secure work in your new town before you go – whether it’s working remotely at home or in an entirely new role.

Getting ready to move overseas

For a lot of us, a move overseas is the start of a thrilling adventure – a new language to learn, new cuisines to try, and loads of interesting new people to meet. Planning, budgeting and saving for your big move can make a world of difference down the track, so let’s get you on your way.

Here are three tips to get you started:

1. Make a budget that captures all your moving overseas essentials, things like flights, visas and insurance.

2. Start saving for your overseas move now. Set a savings goal, open a dedicated account (ideally one that earns you interest) and do the work now so you can make your move overseas as easy as possible.

3. Be selective about what you need to bring. This can help you save on shipping and moving costs when the time comes.

Setting up your new life in Australia

If you’re planning to move to Australia, or you’ve just arrived, firstly, welcome! We’re thrilled to have you. We understand that navigating the land down under can feel a bit overwhelming which is why we’re here to help. This handy list of essentials will help you hit the ground running.

Let’s help you dive straight into your new Aussie life:

• There are three main ways to pay in the land down under. You can use cash, card or direct bank transfer for purchases. Most businesses accept cash and cards, unless they state otherwise.
• Great news! Nearly everyone employed in Australia is entitled to superannuation, including temporary residents. ‘Super’ is a portion of your salary that’s put away over time, so you can access a lump sum when you retire.
• You have two options for health care in Australia – public and private. Both types of health care can cover the cost of specific medical appointments and procedures.
• There are some free education options for children (free kindergarten) and adults (TAFE courses), but it will depend on the state you decide to live in.