As we grow we tend to accumulate things, whether it be furniture, souvenirs that remind us of happy times, gifts or, most importantly, new family members. Making the decision to upgrade to a larger house or apartment is not easy given the costs involved with extra rent or mortgage, moving costs and not to mention the cost of added stress on your life.
Sometimes it may be easier to stay put for the time being and move your excess belongings into temporary storage until a time where you’re financially and mentally ready.
Here are some things to consider…
1. Weigh up the financial cost:
Moving to a larger home:
- Additional rent/mortgage. A larger space will cots more.
- Time off work to move and set up your new home.
- Removalist or truck hire. Removalists can be useful and will save you a lot of time, but they come at a cost. If you’re going to DIY, you’ll need to hire a small truck of van to move your large items.
- Bond or home deposit and associated buying costs. You’ll need to front up this cash before you can move into your new home. Sure, you may get a refund on you previous rental, or realise a capital gain form the sale of your previous home, but this won’t come until after you’ve moved. You’ll need to arrange finance for this time between.
- Packaging for moving house - includes boxes, bubble wrap, packing blankets, etc.
- Cleaning costs, whether you hire a cleaner or take time out to do it yourself, you will want to give your old home a final clean and your new home a good once over before moving in. This could mean a day or two of cleaning fees, or a time off work.
- Monthly storage fees
- Time off work (or your weekend) to move your stuff into storage. If you use mobile storage you’ll save on this time because we bring the storage to you!
- Packaging. You’ll want to make sure your belongings are stored safely so using quality packaging materials and packing the right way is important.
2. Weigh up the mental cost
Moving to a larger home:
- Your options for a larger home may mean moving away from your current area, friends, family or proximity to services.
- Taking time off work may eat into your annual leave, depriving you of that much needed holiday.
- Moving can be stressful, are you ready for the move?
- Staying where you are may feel like you're stagnating your life, sometimes a move to a new home can be good for state of mind.
- Will you be ok travelling to access your belongings from offsite storage?