The True Cost of Moving: What Most Homeowners Forget to Budget For 💰📦

You’ve found your dream home, negotiated the price, and secured financing—but are you really financially prepared for the move?

Many homeowners focus on the home price and mortgage but underestimate the actual cost of moving. From legal fees to closing costs, moving trucks, and even the little things (like replacing light bulbs or ordering takeout on moving day), the hidden expenses can add up fast.

So how much does moving really cost? Let’s break it down so you can budget smart and avoid surprises.

1. Closing Costs: The Big Expenses That Catch Many Off Guard 🏦

Before you even pack a box, there are several legal and financial costs to closing your home sale and purchase.

💰 Common Closing Costs in Ontario:
✔ Land Transfer Tax – One of the largest moving expenses! This varies based on your home’s price but can be thousands of dollars.
✔ Legal Fees – Expect $1,500–$2,500 for a real estate lawyer.
✔ Title Insurance – Protects against ownership disputes or title fraud ($250–$500).
✔ Mortgage Discharge or Transfer Fees – Penalties if you’re breaking or switching a mortgage.
✔ Adjustment Costs – Covers prepaid property taxes or utilities already paid by the seller.

📊 Pro Tip: We help our clients understand and plan for closing costs so there are no last-minute surprises.

2. The Cost of Selling Your Current Home 🏡

If you're selling before moving, factor in these costs too.

💰 Key Selling Costs:
✔ Real Estate Commission – Typically 4–5% of the sale price.
✔ Home Staging & Photography – $500–$3,000 depending on service.
✔ Repairs & Maintenance – Paint, landscaping, and small fixes to boost appeal.
✔ Mortgage Payout Penalties – Check if breaking your mortgage will cost you.

🏡 Want to maximize your home’s value? We offer pre-listing consultations to help you sell profitably.

3. Moving Costs: More Than Just the Truck Rental 🚛

Moving costs vary depending on distance, home size, and how much you’re taking.

✔ Professional Movers – $1,000–$5,000 in Hamilton & Burlington.
✔ DIY Truck Rental – $50–$300/day, plus gas.
✔ Storage Fees – $100–$400/month if you’re between homes.
✔ Packing Supplies – Boxes, tape, and bubble wrap add $100–$300.

💡 Not sure if you should hire movers or DIY it? We can help you weigh the pros and cons.

4. The Cost of Setting Up Your New Home 🏠✨

Once you move in, the spending continues.

✔ Utility Hookups & Transfers – $50–$200 per service.
✔ Furniture & Decor – Especially if upsizing.
✔ Appliances – A fridge, washer, or dryer can add $2,000–$5,000.
✔ Locks & Security – $200–$1,000 for safety updates.

📢 Set aside an extra 1–2% of your home’s price for post-move costs.

5. Temporary Housing & Living Costs (If There’s a Gap Between Homes) 🏘️

If you sell before buying, you may need a backup plan.

✔ Short-Term Rentals – Paying double housing costs.
✔ Hotels or Airbnb – A few weeks adds up quickly.
✔ Storage Units – To hold your belongings between moves.

🚀 We help buyers create transition plans to avoid unnecessary temporary housing costs.

6. The “Little” Things That Add Up Fast 🛑

Don’t overlook the smaller—but sneaky—expenses.

✔ Takeout & Groceries – Expect $200–$500 extra.
✔ Pet Boarding or Childcare – For moving day peace of mind.
✔ Lost Work Days – Missed pay if you don’t have leave.
✔ New Neighbourhood Expenses – Condo fees, commuting, or school costs.

Final Thoughts: Plan Ahead & Move Smart ✅

Moving costs more than most people expect—but with the right preparation, you can avoid financial stress and surprises.

At elevated & co. realty, we help homeowners in Hamilton & Burlington navigate every aspect of their move strategically and cost-effectively.

👉 Thinking about buying or selling? Let’s talk about the true cost of moving and how to budget smart.

📩 Book a 15-minute strategy call today!

#YourMoveElevated 🚀