Families in Canada are on the move. Literally. With approximately five million Canadians relocating between provinces and cities annually, many families are struggling to slash their budgets when it comes to moving around. And why not?
How to Cut Down Moving Budgets
Packing up and finding a new place to call home can get quite costly, especially if you’ve got children along for the ride. Whether you’re currently apartment hunting or know that you’re going to have to find a new home in the near future, consider the following ways on how you can cut down your moving budgets and keep money in your pocket when it comes time to pack up.
1. Find Bargain Areas
Many potential movers pick out dream locations without understanding the cost of living; unfortunately, this leaves many families in a sticky situation as they have their hearts set on spots such as Toronto or Vancouver. Understanding the average price of an apartment in Canada from city to city can help you uncover potential bargains during your hunt.
Likewise, do as much research as you can prior to moving to ensure that not only does an area match up with your budget, but also represents a safe and secure place to raise a family.
2. Be Flexible
Is it possible to find the “perfect” apartment on a budget?
Absolutely, however you’re more than likely going to have to make a sacrifice or two to realistically afford a sensible move. While you certainly shouldn’t feel the need to settle when hunting for a new space, you also should remain flexible and open-minded.
Ask yourself: what are my top priorities as a renter?
For example, consider the following factors when it comes to choosing your ideal city or province:
- Safety and security: understand local crime statistics and which potential neighbourhoods are safe
- Moving can have an emotional impact on your children. It’s important to look for the quality of the local school system for the sake of your children
- The condition of the local economy: for example, will you readily be able to get a job in the area?
- What will your commute look like and will you need to rely on public transit?
For example, it may make sense to move somewhere with a longer commute to compensate for safety a high-quality school district. While your ideal area might not have everything that you’re looking for, make sure to be practical with your priorities.
3. Downsize Your Space (For Now)
Moving somewhere smaller may seem backwards, especially if your family is still growing. However, the benefits of downsizing are well-documented, including cutting down on clutter, saving time on household upkeep and the ability to attack other debts as you save on your rent. Especially if you only plan on only renting for a few years, it may make sense to find somewhere smaller now as a means of saving money for the long haul.
Although moving your furniture and family yourself versus relying on professionals may seem like an initial hassle, the process will almost always save you money. If you’re a serial mover who often jumps from Point A to Point B, you already know that you can save hundreds by packing up yourself and renting a truck versus hiring someone else. If you have friends or family in the area who can help, a DIY approach is almost a no-brainer.
Moving can undoubtedly result in some headaches; however, there are steps you can take to make the most of your next move and keep your budget under control. Be proactive during your search and be prepared to make some small sacrifices as a means of investing in your family’s long-term future