How to Plan a Move to A New Apartment
Believe it or not, moving starts months before you ever sign a lease.
The cost of moving in-state can cost at least $1,000. The greater the distance you have to travel plus the amount of things that need to be moved equals thousands of dollars you’ll spend moving across state lines.
Moving is something that needs to be planned for months in advance because of the cost associated with packing everything in your life into boxes and moving them down the street, on the other side of town or across the planet.
You’re going to learn
- The costs associated with moving so you can be prepared
- When the best time of year to move
- How to save money on renting your new place
How Much Should We Spend on Rent?
One-fourth of renters spend more than half their income on rent and utilities.
Another forth of people spend between 30% and 50%. That means about half of us spend over the recommended 25 to 30% on just living expenses.
That can be a huge financial burden when you add the other costs of living that can leave you without a lot of money to save or have fun with.
I’ve created a spreadsheet to help new renters keep track of the properties they’ve visited and compare the price of living.
Move all your belongings or throw them away?
If you’re the type to throw away your things and rebuy them when you get to your new place you’ll have to calculate the cost of replacing those items.
In some cases, it’s better to save yourself the weight and sell things like furniture when moving a great distance.
Some items don’t survive the move. As disappointing as it is some of your favorite appliances may get broken while moving. It’s a good idea to have money saved for that scenario also.
Add up the cost of moving along with the deposits and startup fees you should expect to pay and add an extra 10% in case anything needs to be replaced to get a good idea of how much moving should cost you.
The Cost of Moving in
In addition to the cost of moving there are some other fees that need to be saved for when moving to a new apartment.
- Application fee
- Administration fee
- Security DepositInstall fees for services like electricity and internet
- Drivers license fee
- Car registration fee
- First months rent
Best Time of Year to Move to Save Money
Timing is everything. If you have the luxury of being able to choose when to move I highly recommend moving between October and April.
Apartment turnover is much slower during the winter months, so while you may have fewer units to choose from, property managers may be more likely to cut you a deal to fill their vacancies.
That’s because most Americans move between May and September. There’ll be higher demand during the summer months so the prices for rentals are generally higher during those months.
If you’re able to do your apartment search during the off-season, you’ll generally get a better deal on an apartment in markets that have a greater supply than demand.
It makes sense when you think about it: nobody wants to move when it’s cold outside.
The time of year you sign a lease can save you hundreds of dollars on housing.
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