How to Budget for a Move Out of Town

How to Budget for a Move Out of Town

Moving across Canada feels like a huge financial commitment, especially if you’re already in possession of a service estimate from a credible Waterloo moving company. If you’re like most people, then moving out of province will require some careful budgeting. Read on for the best tips on budgeting for your upcoming move, so you can afford a reputable long-distance moving company and related expenses.

Budgeting a Move Out of Town

The secret to successfully budgeting for your upcoming move is to prepare everything well ahead of time. By doing your research on costs to expect, you’ll be able to plan accordingly and adjust your requirements. Thorough preparation on your part will also ensure that there are fewer budget-related surprises as you start your move out of town.

Be Prepared to Pay Your Housing Deposit

One of the biggest expenses that you’ll have to deal with as a renter is paying the initial security deposit. The amount can vary depending on who your landlord is, but there will be some charge, often as much as two months’ worth of rent. It is not a good idea to let this expense take you by surprise.

Ideally, you should receive this deposit back at the end of your rental term. Be sure to note any damages to any part of your new home or apartment upon moving in and keep it on record.

Prepare for the First Month of Rent

Along with the security deposit, you’ll also have to make your standard rental payment from when you take occupation. When moving to a new area, it’s easiest to have this money ready to go from the beginning. It will make things less stressful, and you can focus your attention on settling in rather than worrying about paying the rent.

When moving to a new place, it’s important to choose a location where the rent payment corresponds well to your income and budget. If you’re spending half of your monthly income on rent, the chances are that you’ll have a hard time making ends meet in the long run.

TIP: Be realistic about what you can afford before committing to a rental contract.

Consider Purchasing Renter’s Insurance

Renter’s insurance is a relatively inexpensive coverage plan which protects your possessions from several factors, including natural disasters and theft. While it may seem counterintuitive to pay for a service that you don’t necessarily need, it could end up saving you a lot of money in the long run. Renter’s insurance gives you the peace of mind that comes with knowing that your possessions are financially protected in the event of an emergency.

Be Proactive About Looking for Hidden Costs

The reality is that hidden costs can add up quickly when you don’t anticipate them. Instead, talk in-depth with your landlord, the moving company that you use, and anybody else that’s involved in the moving process. If you’re already on a tight budget, there’s not going to be much flexibility for unexpected moving costs, so ensure you know what’s coming.

Decide What Utilities You’ll Need

While some utilities are entirely necessary (like water, gas, and electricity), others offer more flexibility in terms of the service and how much you pay for it. Having the fastest internet or the most extensive cable package may be a perk, but it’s bound to cost you more than necessary each month.

Give some thought to which internet and cable packages you need, or whether you want to buy the cable at all. It is also the perfect time to factor in your mobile phone expenses. You can save money by bundling these utilities together with the same company, for example.

Living Costs and Relocation Tips if You’re Moving to Waterloo

family wears boxes on their heads
Moving to a new town can be the exciting start of a new phase in your life, but many people find the moving experience to be exhausting, stressful, and expensive. Moving will never be fun; there are a couple of things you can do to make the process easier and less stressful.
The best thing you can do is plan your move well ahead of time. That will give you enough time to get the right movers for the job as well as being packed and prepared on moving day. By planning ahead, you can reduce the risk of unexpected emergencies which will only add more to an already stressful process.

Cost of Living in Waterloo

Waterloo is located in Southern Ontario and forms part of Canada’s Silicon Valley. It’s close to many major cities and close to the border as well. The regional municipality that includes Kitchener and Cambridge is one of the fastest-growing in the country. The area has a booming economy, with a strong job market and businesses that are products of two local world-class universities.
Despite the recent increase in popularity, Waterloo remains a relatively affordable place to live and work, certainly much cheaper than in Toronto. In general, you can expect to pay almost $1,000 less for rent in even the most expensive areas if you’re looking for a good-sized apartment. Utilities are generally cheaper, though internet costs are the same in both areas.
And if you think Waterloo is just a sleepy little town, think again. While the residential areas are quiet and pleasant, Waterloo still has a bustling nightlife in the Uptown and Downtown cores. You’ll never feel like you’ve got nothing to do. If you’re looking for the amenities offered by larger cities, but don’t want to pay for them, Waterloo is a great compromise.

Moving Tips

Hopefully, by the time moving day rolls around, you’ll be prepared and ready to tackle the move. Here are some tips that should help ensure the process is as pain-free and straightforward as possible.

Prepare your moving supplies

Before you even start thinking about packing, get all your moving supplies assembled. Make sure to get boxes in a variety of sizes and always get a couple more than you expect you’ll need. Stock up on other moving supplies, like bubble wrap and tape as well. If you’ve got a lot of stuff to move, a tape gun will make packing much simpler and faster as well.

Use the opportunity to purge old items

We all tend to accumulate a lot of stuff while we stay in one place. A move is an excellent excuse to purge old things that you haven’t used in years, as well as donating old clothes to charities. The less you have to pack, the less you have to move and unpack on the other side. Try to be practical and unemotional. A lot of items may have some sentimental value, but all they add to your life is extra clutter.

Pack correctly

Most people don’t plan how to pack their items, leaving them with boxes that are incredibly heavy and likely to tear. By packing heavier items in smaller boxes, you make them easier to carry, and you have less risk of boxes breaking midway through the move. Save large boxes for lighter items that are difficult to carry on their own.
By packing correctly, you also make unpacking on the other side effortless. Label each box with the room it should go in and also what it contains. Doing so makes it so easy to place boxes in the correct rooms in the new home and reduces the amount of walking you have to do when you start unpacking. It also helps reduce the chance of losing items and spending hours going through boxes to find them.

Hire a reputable moving company

A professional Waterloo moving company is an excellent investment, regardless of how far away you’re moving. They’re experienced with protecting furniture and valuables and should be willing to work with you to make your move smooth and hassle-free. Let your movers know which items you want to unpack first in the new place. This allows them to pack them in last, ensuring they’re easily available when you need them.