Budgeting for Move-In Expenses: How to Prepare for Immediate Home Costs

Moving into a new house can be exciting as well as overwhelming at the same time. You’re about to start a new chapter of life in your new home. It could be a milestone for which you’ve been working hard and saving up for a long time.

You want things to be perfect, and there might be long checklists you need to complete within a short period. The stress and the multitude of moving tasks lead to you forgetting or overlooking certain things despite extensive planning. You may have been meticulous with your budget, however, unexpected expenses can sneak up on you and taint your new home bliss.

This guide will help you consider the essential expenses you’re likely to encounter while moving into your new home.

Identifying Immediate Home Costs:

Here’s a comprehensive overview of moving into a new house costs. Incorporate all applicable elements into your budget for a stress-free move later:

1. Rent or Mortgage:

This is probably already on your mind, but it may help to have a reminder. Set some funds aside for the first month's rent in your new home. It’s possible that you might focus on initial costs like the security deposit and overlook the first month’s rent.

To avoid unpleasant financial surprises when moving into your new residence, ensure that the moving budget includes the first month’s rent. You should also allocate some funds for the initial mortgage payment.

2. Moving Costs:

In your moving budget, include the expenses for hiring movers. If you’re renting a moving truck, add that in as well. If you are opting to DIY some aspects of your move, you’ll need packing supplies such as boxes, bubble wrap, tape, and protective materials.

Although these costs may seem small, they will add up eventually. The building may charge some service fees if you’re moving into an apartment. For instance, they could set up the service elevators to assist with the move and may need you to pay a fee.

If your new building requires additional service fees, you must prepare for it. Remember, this fee differs from the homeowners' or condo association fees. Keeping this in mind will help avoid any confusion down the road.

3. Utility Setup Fees:

The disconnection (in the old house), transfer or connection, and set up of electricity, water, gas, and internet services in the new home can cost hundreds of dollars. It will significantly add to the cost of moving. Of course, these are necessities, and even a day without these in the new house can be more than inconvenient.

Account for the costs of getting the utilities hooked up before you move in. The previous owners may have opted to disconnect utilities before moving out, so looking into this matter in advance is essential.

4. Insurance:

If you’re renting a house, you need to get renters’ insurance to protect your possessions within the rented property and liability coverage. In case the home becomes uninhabitable in the near future, for whatever reason, the insurance may offer additional living expenses.

If you’re buying your new home, acquiring homeowners insurance is a wise financial decision, even if it may not be legally mandatory.  Homeowners insurance will help cover the structure of your new home and the mortgage requirements.

It will provide financial protection in the event of covered losses and liability coverage. Besides these expenses, you may also have to factor in additional furniture and appliances that your new space may require and cleaning supplies or professional cleaning services to prepare your soon-to-be home.

Suppose there is a time gap between moving out from your current residence and your new home. In that case, you’ll also have to budget for the temporary accommodation expenses.

Consider all these costs and add the applicable ones to your moving expenses checklist.

Creating a Comprehensive Budget:

Drafting a budget helps you examine the expected moving expenses and total costs more thoroughly. Prioritize all essential expenses in your moving budget to ensure these are covered first.

While moving, you’ll use the budget as a reference point and adjust accordingly. Or, there might be instances where you may have to review and modify your budget. To begin with, ensure that your budget has some flexibility to accommodate unexpected expenses or hidden costs.

A contingency fund can help in case of unforeseen financial challenges.

Researching Cost Estimates:

Before you draw up your moving budget, take stock of the possessions you will likely move into your new abode. Moving companies typically base their quotes on the volume and weight of the belongings to be moved.

You can get a moving company representative to come to your house and provide more accurate in-home estimates. The type of move - local, long-distance, or international - will also obviously impact the cost. You may incur higher costs during peak moving seasons, so that’s another thing to consider.

Start gathering quotes for services from moving companies and use a detailed spreadsheet for analysis and comparison. Then, prepare a shortlist of prospective movers and decide after carefully considering the services provided and the associated costs.

Building a Moving Fund:

Start by assessing all your sources of monthly income, including salary, freelance work, and any other additional income streams. Deducting your monthly expenses from this amount will help you get an estimate of your disposable income.

Set realistic savings goals based on this figure. Once you’ve made the decision to move, you’ll only have a finite amount of time to build the moving fund. Start saving as early as possible and establish a timeline.

At this point, you may want to explore financial assistance options. With apps like SoloFunds, you can get small loans on favorable terms without a credit score requirement.

Instead of interest, these loans have a tipping system. You can tip the lender as you want or even choose not to tip at all.

Tips for Cost-Saving:

Negotiating rent or mortgage terms is a way to save on costs while moving into a new home. Another thing that you can do is compare the quotes of moving services companies and choose one that provides maximum services at reasonable rates.

You can also look into cost-saving DIY moving strategies. Before purchasing your new home or hiring any services, search for online coupon codes that could lead to additional savings. Utilizing discounts, promotions, cashbacks, and rewards on loyalty programs can contribute to significant cost savings during moving.


Proactive budgeting can help make the transition from your old haven into the new one smooth and easy. Identify and plan for all hidden costs, and you’ll be able to effectively manage your budget in the initial stages of moving into your new home. Take advantage of the expertise and experience of the professionals at Billy.com for a smooth moving experience.

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