Krystal Yee, Moneyville, The Toronto Star
When you're in the middle of packing up your life and moving to a new place, it can be stressful. No matter how much you plan, chances are you'll probably end up missing somthing.
Here are some hidden costs that you might want to consider when budgeting for your big move.
Even if you collect boxes at grocery stores or liquor stores, you might also need to consider the cost of renting dollies, buying bubble wrap, packing tape, and markers for labeling boxes.
If you can't find used boxes at your grocery store, consider buying used ones through Craigslist or Kijiji for a fraction of the cost of new. Or buy new boxes from Moving Box Centre, a manufacturer offering wholesale pricing and free express shipping to most provinces in Canada.
For a different approach to traditional cardboard boxes, consider going eco-friendly and renting reusable plastic moving crates from SayNoToBoxes.com.
If you are using a moving company, it is customary to tip somewhere around 10 to 15 per cent of the total bill. If you are using friends and family to help you move, it is a general rule to provide pizza and drinks.
You will need to clean your old place before you move out, and you'll certainly want to clean your new place as you start to move in. Consider the supplies and time it will cost you to do it yourself, or get quotes from local cleaning companies.
If you're moving yourself, you'll have to pay for more than just the van or truck rental. If your auto insurance or credit card company doesn't cover rental vehicles, you might have to pay for insurance out of your own pocket. Don't forget the cost of fuel for those gas-guzzling vehicles!
Contact your utility companies to inquire about disconnect and connection fees. If you have a contract with your internet or cable provider, you may have to consider a cancellation fee into your moving budget.
When I moved to Vancourver three years ago for a career opportunity, my apartment insurance and car insurance rates nearly doubled in costs, and I was without extended health insurance until I started my new job.
if you are moving out of your city, travel costs such as gas, potential repairs to your vehicle, hotels, and meals out will cost you quite a bit of money. If your move will take more than a few days, consider staying in areas outside of big cities to save on hotel accommodation.
Don't forget to factor in the cost of tolls or ferries, which can get to be expensive, depending on the route you take to drive to your destination.
IS YOUR MOVE TAX DEDUCTIBLE?
Generally speaking, if you are moving at least 40 kilometres to start a new job or a business, or you are moving to attend full-time post-secondary courses, you can deduct some of your moving expense such as:
- transportation and storage costs such as packing, hauling, storage and insurance for household items.
- vehicle expense, meals, and accommodation to move you and members of your household to your new residence.
- Costs for up to 15 days of meals and temporary accommodation near either your new or old residence.
- The cost of cancelling a lease for your old residence.
Contact the Canada Revenue Agency for more information about moving expenses.