A new home can take all the cash you can lay hands on. Anything you can do to save on the cost of the move could be a contribution to your housing budget.
Fortunately, there are some easy ways to cut the cost.
1. Start with the big clear-out
Everything you move can cost you money. So everything you give to charity or throw away will save room in the van, save costs and save and your time and patience packing and unpacking.
Things are even better if you sell unwanted items, but even if you donate to charity, you may still raise money if youโre a higher rate taxpayer at 40% or additional rate taxpayer at 45%. By opting in to the Gift Aid Scheme the charity can claim the first 20% tax relief, but you can claim the additional tax back through a self-assessment tax return.
It can take a surprisingly long time to get rid of things, so try to start at least a month before the move
2. Hire a van, not a moving company
Hiring a van and doing the heavy lifting can cost as little as ยฃ75. This is going to be more doable if youโre moving a small number of worldly possessions a short distance, and if you donโt have kids and pets to wrangle at the same time
But donโt scrimp on the van. A bigger vehicle could set you back ยฃ200 a day but avoids the problems when the sofa wonโt go in and cuts down on the number of trips you make.
If you donโt have the muscle or driving licence a man (or woman) and van is cheaper than a removals service, but you wonโt have the insurance if something goes wrong.
3. Cut back on what you ask a removals firm to do
If you use a removal company, charges depend on the size of your home, how far you are going, and what you ask the crew to do. If you need them to pack for you, or dismantle flat-pack furniture, the costs go up.
Get quotes from several firms, and check whatโs included in each of them.
4. Move Off-Peak
When you move can also influence the price. Many removal companies charge premium rates at weekends, bank holidays, and the end of the month. Try to schedule a weekday or mid-month, when demand is lower.
5. Save on Storage Costs
If you need to store your belongings, shop around for the best rates. Some removal companies offer storage as part of the deal. Alternatively, check out local self-storage providers.
6. Pack it up
Instead of buying packing materials, consider using what you already have at home. Towels, blankets, and bed linens can double as protective layers for fragile items. Suitcases and laundry baskets are ideal for transporting smaller items and save space in the van.
7. Cancel or Transfer Utilities Early
Tell utility companiesโsuch as gas, electricity, water, and internet providersโof your move as early as possible. Some charge exit fees or penalties if you donโt give sufficient notice. You also avoid paying for services you no longer use by cancelling early.
8. Take Advantage of Moving Home Discounts
Look for discounts on moving-related services, such as broadband deals, energy suppliers, or insurance providers. Many companies offer special rates for new customers or those moving home.
9. Cut the cost of your mortgage
And last but by no means least, make sure you really do have the most suitable deal on your mortgage. Shopping around can make a big difference if you are looking for the most appropriate deal, and it is much easier if you have an expert to do the looking for you.
At Continuum we have the experts you need when it comes to mortgage โ and we can help you with things like insurance protection too.
So, if you are thinking about a move and looking at the costs, make your first move a call to us.
Gift Aid warning: โgiving to charity landed me with a surprise tax billโ - Which? News
The information contained in this article is based on the opinion of Continuum and does not constitute financial advice, you should seek independent financial advice before embarking on any course of action.
The Financial Conduct Authority does not regulate taxation advice.
Your home may be repossessed if you do not keep up repayments on your mortgage.
