What costs are involved when moving?

There are significant up-front costs in moving house. These can vary widely, depending on your purchase and your needs. We all know that we need to put aside money for a moving company, but have you thought of the other costs involved in purchasing a home and moving?

• GST. Is your home a new build? You will likely have to pay GST on the purchase price.
• Property Transfer Tax. 1% of the first $200,000 - 2% of the balance of the purchase price. If you are a first time buyer, the Property Transfer Tax is waived on properties valued up to $325,000 in the Lower Mainland. If your purchase price is above $325,000, the Property Transfer Tax is prorated between $325,000 and $349,900 (above $349.900 full property transfer tax is applicable).
• Property Tax Adjustment. you will have to pay a pro-rated amount of the Property Tax for the calendar year.
• Lawyer or notary fees. In British Columbia, this can cost you $800 or more.
• Moving supplies. boxes, tape, markers, paper, bubble wrap and more. The average house requires over 100 boxes.
• Moving insurance. If you're moving yourself, you need to consider purchasing insurance from the truck rental company, since your regular coverage (home, vehicle, credit card) may not apply. Professional movers are liable for your possessions, but their level of liability can vary.
• Connection or change fees. Utility, phone and television companies can charge $50 to $100 each to re-connect your service in your new home.
• Changing the locks. This is a security essential. Hire a locksmith to change the pins in your lock cylinders or replace the locks entirely.
• New furniture. You may need to buy appliances, window treatments, lamps, rugs or more furniture to make your new space liveable. You may also need hooks, racks, shelves and organizers.
• Stocking up. You didn't want to pay to move a dozen half-empty bottles of condiments, but now you have to replace them all -- and also buy cleaning supplies and light bulbs.
• Licenses and registration. If you're moving from another province, you'll need to register your cars within 30 days of moving, which will require you to pay for new plates plus vehicle registration fees.