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Budgeting for Your Move-In Expenses


A typical buyer is usually concerned with three costs: selling price, monthly mortgage payment and interest rate. Although all three are legitimate concerns, don’t forget about one crucial area: your move-in expenses.

Relocation Costs. Hiring a moving company can be expensive. Other relocation costs—such as packing up your belongings, traveling to your new home and smaller expenses during the first few days/weeks at your new home—are all costs you’ll need to think about ahead of time.

Furniture and Decorating Costs. This may be the most expensive part of your new home outside of your monthly mortgage payment. New furniture can run in the thousands of dollars. Smaller decorating items such as curtains and window treatments, rugs, lighting, towel bars, and many other items can add up quickly.

Cleaning and Maintenance Costs. Even if your new home is professionally cleaned prior to your move-in, you’re going to have some cleaning cost in the first few weeks. You also may have some general maintenance costs right off the bat such as replacing a faulty outlet, fixing a dripping faucet, or doing a little touch-up painting.

Other Costs. Other costs can include everything from fees for turning on utilities, the cost of trash removal and dues for homeowners’ associations to security systems and new locks on all of your outside entries and doors. Unplanned costs—such as repairs that were overlooked on the final walkthrough—are common, so expect the unexpected.

Although there’s no set amount that you should budget for move-in expenses, you should consider setting aside at least one month’s mortgage payment (or more, depending on your furniture and decorating needs) just as a general move-in fund.

For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988. Licensed by the Commissioner of Banks - License No. MB2671

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