The Costs of Moving: Expenses That Are Often Overlooked

According to statistics, an average person will move approximately 11 times in their lifetime. And whether you are moving from one state to another or just one neighborhood over, the process will always be costly. From the obvious things like hiring movers to paying rent, moving always involves a lot of expenses. Often, however, there are small things that are often overlooked but take up part of your moving budget. Here are other expenses you need to take into account so you don’t end up getting short on cash.

Packing materials
You could either hire movers to pack your belongings for you, or do it yourself. Either way, it will cost you money. If you’re DIY-ing it, you’ll need to buy materials like cardboard boxes, packing tape, bubble wrap, etc, and these expenses tend to pile up.

Broken things
Sometimes, getting things broken while in the process of moving in or out is totally unavoidable. Some of your furniture or appliances could get scuffed or destroyed, and depending on the damage, you’re going to be forced to replace them or have them fixed. Things like electronics are not cheap and it could blow your budget completely.

Security deposit
Many people assume that they will be getting their security deposit back. But sometimes, landlords are not willing to fork over security deposits. If you’ve lived in a place for a long time, you may not notice the damage you have done to your place and a landlord’s discerning eye can pick out these damages and cite them as reasons not to give you your security deposit back. And there goes the money you were expecting.

Start-up costs
Whether you are buying or renting, there are miscellaneous fees that need to be factored into your budget. These are things like down payment and closing fees if you are buying the property, security deposits, application fees, and even pet deposits.

Stair fees
Movers actually charge stair fees if you are moving to or from a building that has no elevators, or if the elevator happens to be busted on the day of your move. Lugging heavy things up and down the stairs is not easy, so expect to get charged extra if your building doesn’t offer the convenience of an elevator.

Unforeseen circumstances
Things don’t always go according to plan. You might find yourself needing to check in to a hotel or motel for the night because of unexpected circumstances, or you may need to pay for a parking ticket stuck to the windshield of the moving van your movers parked illegally, or maybe board your pet if they are older or have anxiety. A number of things could happen, and these cost money as well.

It’s important that you do your research and set a more inclusive and comprehensive budget for moving, and plan for unplanned situations. And if you don’t want to get stuck or end up using part of your savings which is for something else (maybe for travel or for retirement), you need to prepare well for your move. It’s always a good idea to have a bit of extra left over than to be left on a deficit.

We’re All In This Together!

A message from Payment 1 Financial Corporate Office

The ongoing Covid-19 health crisis is having a dramatic impact on our communities, from the health of our friends and families to our schools and workplaces. 

During these challenging times, Payment 1 Financial is committed to taking action to help you and your family. We’re making every effort to keep our stores open, and our people are following a strict regimen of cleanliness and sanitation. We are standing by, ready to do whatever it takes to help you get through this. 

Payment 1 Financial is limiting our lobbies to two people at a time to help prevent the spread of the virus, but we are also delivering curbside service by appointment. All you have to do is call to schedule your visit—we bring the paperwork to you in your car! Click here to view our locations.

If you find yourself facing financial difficulties due to Covid-19, rest assured that we are here to help. Just contact your local Payment 1 Financial office, and let’s discuss ways that we can assist. 

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  • Additional cleaning and sanitization at all locations

  • The health and well-being of our customers, staff, and families is our priority

  • Schedule curbside service by calling ahead for an appointment

For the latest information about Covid-19 and what you can do to protect yourself, visit the Centers for Disease Control online at www.cdc.gov