Money For Lunch – New Job, New City: Moving Expenses to Consider When Relocating

New Job, New City: Moving Expenses to Consider When Relocating

December 19, 2016 6:38 AM0 commentsViews: 94

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A new job in a new city is an exciting opportunity and lifestyle change. Set yourself up for a smooth transition with thorough preparation and research. Identify the expenses that will occur throughout the moving process, as well as the on-going costs to take into account when selecting a specific neighborhood. Make sure you consider costs of housing, parking, transportation, recreational fees and everyday, lifestyle costs. Here is a list of some expenses, obvious and obscure, you must be prepared for when you move to a new city:

Housing

When you look for a new apartment, you should take into account that you’ll pay for more than rent upon move-in. You will likely encounter additional fees like an application fee, credit check and security deposit. Your building manager could also charge you a move-in cleaning fee. If this is the case, make sure you aren’t charged a secondary cleaning-fee upon move out, as it should be the next tenant’s responsibility. Most buildings will charge at least first and last month’s rent, which is another significant expense you should be mindful of. You can see how much apartments will cost in your city, ahead of time, on sites like ForRent. The site will give you a detailed breakdown of move-in costs, so you aren’t caught by surprise.

Apartment Building Amenities

Most buildings that have an attached parking garage require and extra monthly fee for use of the facilities. If you have concerns about your vehicle’s susceptibility to wear and tear from street parking, paying the parking fee may be worth it. However, if you’re less concerned about the cosmetics of your car, most cities offer street parking permits to their residents. Similar to parking, many buildings also offer storage facilities, where you can keep any excess home goods, seasonal items or outdoor tools and gear. Inquire with your future landlord if they will charge you a fee for storage, so you can pack accordingly or research other, nearby storage options.

Transportation

When you are searching for an apartment, keep in mind the length, route and transportation options for your work commute. Parking near your office may be problematic, if it requires a daily parking fee that isn’t covered by your employers. You may also be required to purchase a yearly or quarterly parking pass. Before you move, investigate the bus and train routes — making sure that you are in close proximity to nearby stations. Also, consider if you will be better off riding a bicycle for your commute. Purchasing a commuter bike and all the additional, necessary gear would be a one-time expense that would pay off over time. Though be aware that there is a significant initial cost to budget for, should you choose bike-transport as your daily method of transportation.

Lifestyle and Recreation

Your move into a new metropolis requires you to reestablish your recreational habits and routines. For example, if you enjoy indoor exercising and group classes, you will likely want to join a gym or studio. Most memberships require a sign-up fee and some also require that you pay in monthly blocks, versus month-to-month. Lifestyle-wise, you will need to set up your apartment with the appropriate furniture, appliances and food staples. Have some money set aside for this cost, so you can comfortably settle into your new home. To reduce decorating expenses, check out Apartment Therapy for tips on how you can create an accommodating and agreeable abode on a budget.

There are a lot of things to consider when moving to a city, especially if it’s a big city like Chicago or New York. Researching your prospective home and neighborhood ahead of time is a great way to cut down on expenses as well as headaches.

 

 

 

 

 

 

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