How Much Money Do I Need to Move Out

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If you are a millennial or Gen Z, you must’ve been thinking about or have already moved out of your parent’s house. Some of you are married with kids and already in your 3rd or 4th place and need to move out again. Whatever you are, if you want to know how much money do I need to move out, this article is for all of you.

How Much Money Do I Need To Move Out?

Moving from one place to another requires a lot of planning, energy and especially, money.

According to statistics, 38% of the UK people are renting a home. Renting a place means a big chunk of your salary goes into the place every month. And if you have to move out, you have to start saving money at least three months prior. It takes about eight weeks or two months of planning to move into a new place.

So now, let’s get into moving house costs UK.

To get a fair idea of it, you need to list the things you will spend on the process of moving out. 

  1. You need to book a moving service team for your move. The UK’s average cost of moving is about £1000. However, this is for a two-person moving team with a distance of fewer than 100 miles. A longer distance move costs an average of £5000 euros.
  2. If you need professionals to declutter your house, you must include that in the list. 
  3. You need to book a truck rental for the move.
  4. Reserve a storage unit if required to store some of your possessions in case.
  5. You need to make a list of all tax-deductible moving costs. 
  6. Service the car if you’re going to use it to move or schedule a car shipping service.
  7. Pay any unpaid parking tickets.
  8. Get your driving licence checked.
  9. Get cash to tip the movers.
  10. After getting to the new place, you will spend money fixing things like electricity issues, changing locks, fixing smoke alarms etc. So, put them in the list.

Are You Ready To Move?

You mustn’t rush into things, though. Figure out if you’re actually ready to move out and can find a better place. You have to make sure that you can cover your bills and have your debts under control. Also, have an emergency fund, have enough income to pay rent, have roommates to share the rent with. Willing to stay in the next place for at least one year is important though. Also, be prepared for any credit that comes with the move.

How To Live In London Cheaply?

If you want to keep your cost of living as low as possible, you have to readjust your lifestyle. We all know it is pretty expensive to live in London. A simple night out costs a lot here. However, if you are careful about your spending, you can make it just fine.

One of the easiest ways of saving money in London is cooking your own food. Buy the ingredients from any of the capital’s numerous food markets or independent groceries. This way, you’ll save a lot in food costs.

Choosing the right location is key to cheap living in London. Bexley or Havering are some of the most affordable places in London. The rent price there is relatively low compared to the other areas. They are inexpensive and a great place to raise a family with numerous schools in the area. 

How To Move House?

Moving house can be explained in 3 simple parts. Such as—

  1. Planning
  2. Execution &
  3. Bits of advice

Planning

Before moving, you must have a thorough plan. You should map out the sequence of the whole process in your head. Moving takes a lot of time and energy. So, you should plan everything with that in mind. 

Planning includes researching the best moving company online and booking them beforehand. You may also book a moving truck if the moving company doesn’t provide that. You should declutter your house and get rid of all the excess furniture in a garage sale. Alternatively, donate them to others. Consider renting a moving container if you want to take all your possessions with you. All this planning can take up to 1 or 2 months.

Executing

On the moving day, start early. Choose a weekend to move to less traffic on the road. Make sure you’re fully prepared to start the move. It includes having a certain amount of cash with you in an emergency. 

  • Let your neighbours know that you’re moving out.
  • Check if all your things are packed thoroughly so that none breaks during the commute.
  • Do a final sweep of the house. Have a water bottle in your hand.
  • Hand over the keys to the landlord.

After arriving at your new place, clean the house and unpack all your things. Explore the neighbourhood and change the locks.

Bits of advice

There are specific bills you need to pay when you move out. Don’t forget to clear these payments before heading out to the new destination. Such as:

  1. Rent or mortgage
  2. Gas & electrics
  3. Water
  4. Insurance
  5. Broadband/WiFi
  6. TV licence
  7. Food
  8. Council tax
  9. Personal bills (credit cards, loan payments, phone bills, gym etc.)

Conclusion

Hope you got your answer to “how much money do I need to move out”. Now apply these learnings and make a safe journey to your new house. Bon voyage!

Need help with moving out? Contact us!