What does it cost to move (and how can you save)? 

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Personal Finance

Team MONEYME|20 September 2024| 2-minute read

Australian rents rose by at least 10% in late 2022 and early 2023 – the quickest jump in 15 years.  Consequently, more people are moving, in pursuit of cheaper properties.  

However, relocating – like most living costs – is becoming increasingly pricey. 

Here, we look at the expenses you should know about before moving, and how to manage them.  

How much money do you need? 

One of the major expenses is shifting your belongings. Professional removalists charge upwards of $200 per hour.  

Then there are the costs of setting up your new place. Consider whether your current furniture will work in your new place, and if you’ll need extra items, including white goods. 

Typically, the landlord asks for six to eight weeks’ rent up-front – made up of bond (four weeks’ rent) and two weeks’ to a months’ rent in advance. Moving to pay less rent? You might have some money left over once your previous bond is refunded. But, remember, there could be a delay, deduction or dispute if your former landlord raises an issue. 

One way to prevent a cleaning-related issue is to pay a professional cleaner for an end-of-lease clean. For a two-bedroom apartment, this might set you back around $300. 

You’ll also need to meet the costs associated with utilities, such as electricity, gas and internet. When disconnecting, you’ll owe whatever charges remain on the service, plus there could be a connection fee at your new place. Schedule the change before you move, so you don’t end up without utilities. 

Managing the costs (and how to save) 

These expenses might sound confronting, but you can make them more manageable.  

If you don’t have the cash upfront you could pay for some of the costs on your credit card. This can be handy if you know you’ll be able to pay it off quickly. However, it’s important to note that credit cards usually have relatively high interest rates, and credit card payments are not always available (or advisable) for rent or bond payments.  

One option is a personal loan. This involves borrowing a lump sum, so you can pay costs up-front, then repay over a set period at generally a lower interest rate than a credit card. MONEYME’s loans are fast and simple – apply online and, once approved, receive funds in minutes.  

Another approach is DIY. Instead of paying professional removalists, hire a van, and, rather than engaging cleaners, hire the equipment you need to do it yourself, like a carpet steam cleaner. 

You can also earn cash by selling unneeded furniture via a trading site, such as Marketplace. And, while you’re there, buy anything you need second-hand – or search for freebies. 

Before connecting utilities, shop around for the best price using a comparison site like Compare the Market. If a competitor is offering a cheaper service than your current provider, try to negotiate a better deal. 

Making the move  

Moving might be financially challenging, but it could well be worth it in the long run – especially if you’ll save on rent.  

The trick is to understand your expenses, and then take steps to make them more affordable or manageable.