Managing Personal Finances When Moving Into New Home

Managing Personal Finances When Moving Into New Home

When you decide to move into a new home, the move can be a tedious task. Several things need to be taken care of, right from a thorough inspection of the new home, dealing with movers and packers to ensure that you have things in place and there no damages to anything that you own, legal formalities with respect to both – the old and the new home, and much more. Here are some tips that will help you manage your finances well in order to make sure that there is a smooth shift.

[1] Acquire Moving Boxes for Free. When it comes to moving houses, you will need many boxes to move all the material you have. You may want to get your hands on some free boxes at this time to save up on your expenses. A lot of classified websites, online marketplaces, clothes, and grocery stores have a ‘FREE’ section listed. You can get your packing boxes for free from these places.

[2] Do You Really Need a Packing and Moving Service? Professional packers and movers may charge you quite a lot of money and may turn out to be expensive too. Before you decide to hire a professional service, take account of everything that you have. If you are moving without furniture or if you have lesser boxes, you may not need a packing and moving service at all. You could even request your friends to help to move the stuff. Or, if that is not sufficient, you can hire a van for a single day. That way, you’ll save up quite a bit,

[3] No Need to Continue the Old Owner’s Service Provider. While it is useful to have contacts of service providers that were being used by the previous owner- gas, electricity, internet, etc., it is not mandatory. Be judicious in choosing and subscribing to service providers that you find are affordable and meet your requirements.

[4] Check for Necessary House Repairs. When you shift to a new house, it may need some repairs. It’s best to speak, have a clear conversation about this with the owner, and get them done at the earliest because delaying will only make things worse. Given the considerable expenses you have to incur at the time of moving, you choose to opt for online personal loans, cash loans, or a personal line of credit to get yourself cash cushion. MoneyTap is one such loan apps that can help you with instant credit approval, allowing you to use the funds at your convenience and requirement.

[5] Rent Out the Extra Room If You Have. You may want to have a comfortable home and make some extra money by renting out a room in your home. Through this, you may get a great company as a tenant and share your expenses with the asset you have.

[6] Some Quick Questions to Ask the Seller Before Moving In – Before you move in into your new home, you can ask the seller the following questions, which will make things simpler for you to settle in:

  1. Where is the main water stopcock?
  2. Where are gas & electricity meters?
  3. Do they have an instruction manual for any of your appliances?
  4. Are any of the appliances in warranty? Do they have the warranty card/bill?
  5. Do they have any old paint cans?
  6. Do they have spare keys to the home?

Lily Tran is a content writer, working for MoneyTap, who writes about all things Finance. Her passion for credit, debt, loan & investment drives her to help readers get an insight about everyday finance.