Okay, so we know that moving home can be expensive. From removal costs to realtor fees, there are quite a few expenses that you will be faced with.
However, it is possible to save money when moving house, so check out our linked article for a few neat tips and tricks. And it’s important to know that, in the long-term, you might experience financial benefits if you do move. Here’s how.
#1: Downsizing can reduce your household bills
If your current home is too big for you, then a smaller home might help you combat your household bills. You might be able to pay less on your household taxes for starters, and because you would have less space to heat up, you could save money on your heating bill too.
#2: You might get a better mortgage
You have the perfect opportunity to look for a new mortgage provider when you’re moving somewhere new, so it might be that you can find a mortgage broker that can offer you better rates. As an example, Altrua mortgage rates are particularly low, so when you’re shopping around, give them a call or look for somebody that can offer similar.
#3: You could make money from a hobby
If you move into a house with extra space for you to commit to one of your hobbies, you might have the opportunity to make more money too. You might be able to spend time with the crafts you love, for example, and you could sell some of these online. If you had a garden, you could grow fresh produce to sell on to others.
And there could be other ways to turn a hobby into a moneymaker, so think about what you could do with the extra room that could be made available to you.
#4: A fresh start can motivate you to save money
When moving into a new home, you might have a renewed incentive to start saving money. This will be your opportunity to reconnect with your money goals, and with the positive mindset that comes from a fresh start, you might have more motivation to do what needs to be done to meet them. You might add new smart appliances into your home, for example, as these can help you save energy and money.
You might also think about your spending habits, and make the extra effort in your new home, once the movers have left, to be frugal to give you the opportunity to save for new household items. And you might have more incentive to avoid the financial mistakes you made in your last properly, as your new home will give you the opportunity to start again in all kinds of ways.
#5: You could save money on your daily commute
If your new home was nearer to your place of work, you wouldn’t have to suffer the costs of a long commute, so this is another money-saver you will experience. it might be that you wouldn’t have to use public transport or your car at all, as if your workplace was very near, you could walk or cycle instead.
These are just a few of the financial benefits that could be afforded you after a house move, so despite your moving expenses, it might be that, in the long-term, you will be a lot better off. Give it some thought then, especially if you are already weighing up the pros and cons of a house move.
Kori
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