Considering a BIG move? 3 things we often forget to budget for

Moving is well known to be one of the more stressful events in life – and considering a move interstate can add some complexity! Whether you’re moving for your career, family or a change of lifestyle we are sure you’ve already considered the cost of buying vs renting. However, sometimes it’s those smaller living costs that we don’t weigh up in a move that can either surprise and delight or sneak up on us and hit the credit card pretty hard.

It seems crazy to think that a mere potato can be significantly more expensive in some cities than others, let alone a 25 per cent increase in the average bottle of wine depending on the city you buy it in. Budget Direct have created a cost of living comparison tool where you can pick the cities you’re considering and compare the average costs of living in them as supplied by the locals. After playing around with the tool ourselves we’ve compiled a list of the three things we’re most likely to not consider, but will hit our hip pockets when taking that new job in a new city…

1. Date night/ nights out

A casual movie and dinner date for two will cost you around $78 in Brisbane or close to $86 in Sydney, assuming you’re about 5kms away from the destination and choose an inexpensive dining option. Add some drinks into the equation and a three course meal and you’re easily over $125 and with the average bottle of wine for a night out being about 25 per cent more expensive in Sydney, potentially much more than that! If you go out twice a week for a year you’re looking at an easy $12,000 a year that you need to factor into your budget.

2. Fitness activities

Who would think the cost of visiting a gym or renting a tennis court, or even buying a bottle of water could differ so much in one country. Melbourne looks to be the most expensive city to rent out a tennis court on the weekend, yet Sydney wins the high price gym stakes – luckily the average salaries are higher there!

3. Transport

When getting around in most cities, public transport is the only realistic option other than taxis and ride-sharing services. While the occasional one-way ticket is relatively comparable across the cities (excluding Brisbane), Melbourne seems to be quite reasonable for public transport.

It’s also important to consider how you’re going to react to change, but also not to fear when making a life changing decision like this. Doctor Susan Biali, M.D. said on Psychology today, that many people can feel scared to move forward or change, yet we may hesitate or shy away at our peril.

So, before you get all excited about that higher salary you’re moving for or scared of failing to assimilate in a big new city – logically lay out your entire budget and concerns so you won’t get caught out!

Property prices can vary across different cities, depending on what elements of your living arrangements you’re willing to compromise on, so while you’re preparing your mind and your new budget take a scroll through the homes for rent and for sale in the area you’re keen on moving to on homely.com.au.