Financial Pitfalls to Avoid When Moving to a New Area
As you start to fill up those boxes and take a last nostalgic look around your old home, it’s easy to skimp on the last moving tasks. You’d like to transport your belongings to your new home as soon as possible, and there’s no better time than now – but by wrapping everything up too quickly, you may also make the process a bit more expensive.
From before you select your new address to the day you unlock it for the very first time; every step on the way has a financial pitfall you’ll learn to avoid with time. Until then, make use of these great tips from finance wizards out there, and you’ll be starting the new chapter of your life with the right kind of mindset.
Before moving: Selecting an unsuitable property
It seems obvious, but you’d be surprised at the number of people who realize a month in that they’ve made a terrible decision. Their new home is too far away from work and amenities – and if it’s not too far away, it turns out the whole neighborhood is questionable.
Make sure you keep your eyes open for signs of vandalism and crime before falling in love with a property. It’s quite easy to spot when you know your way around town; graffiti, unkept yards, and residents who barricade themselves behind gates and locks are usual signs of a neighborhood that’s going downhill.
Give the local police station a call as well to get the most accurate description of the area. Consider finding a new home that’s within an apartment community as you’ll receive all the benefits of living close to amenities including added security features. You should have a chat with the neighbors too as they have first-hand experience of what’s going on the street.
While moving: Not inspecting the property
When you’re all packed and ready to go, it would be frustrating having to move back due to problems with the plumbing or electricity.
It could even cost you quite a bit of money as well, as you may have to live somewhere else in the meantime, seeing that you’ve already moved out of your previous home. It’s the kind of setback that annoys both you and your finances.
These home inspections should include pest infestations, mold growth, structural damage – particularly in the roof and the foundation walls, as well as the electrical wiring. Call in a professional well in advance of moving your furniture over, and feel confident that everything is up to date.
Not transferring the utilities
Somehow, it seems fair that the rest of our life should get the memo and just follow us on their own accord when we’re moving houses. Unfortunately, your poor utility bills will stay put in the mailbox unless you transfer them to your new address – and you risk not having major municipality services such as gas and water when you move in.
To make matters worse, you may even find yourself in debt after a while if you keep forgetting about the mail at your old address. It’s such a silly way to spend your savings, so take care of this before the big day, and you’ll be able to settle in comfortably.
