Question: I’m graduating university in September 2021 and I will need to move out of my student house into a normal house. I have no idea how much money to save up to prepare for all of this.

Moving house after university can feel like a really daunting task, luckily there are plenty of practical steps you can take to help yourself. A lot of your moving costs will depend on the location and the type of house/apartment you are moving into.

Security deposit

Your security deposit is likely going to be the most expensive part of your moving process. Most landlords will ask for 5 weeks rent for your security deposit. As well as your security deposit you are going to need to have your first month’s rent ready. That’s a total of 9-10 weeks or rent to pay upfront. The best way to estimate the final figure is  to look at the average rental price in the area you want to move to.

Furniture Movers

The next big cost is going to be moving your stuff. You most likely don’t own the furniture in your current uni house, so moving is only going to be all your clothes and a few things you bought for your house. If you have a car this is simple, you will only have to account for the cost of the petrol to drive to your new home. You could also get help moving if you ask a friend who has a car to help you. If you don’t have a friend who can help you, you can always get movers. The cost will all depend on how far you are moving. Most movers charge around £50-£60 per hour or a flat rate of £450 (for a 1 bed) for long distance moves.

Second Hand Furniture

If you are moving into a rental property that is unfurnished, I would also recommend including this into your moving costs. Don’t go crazy with buying new furniture, it quickly gets very expensive. There are plenty of places where you can buy second hand furniture from charity shops to Gumtree or Facebook Marketplace.

At first all you will really need furniture wise is a bed, a desk and maybe some drawers for your clothes. If you don’t want to splash out on new furniture you can always hunt for a bargain.

Affordable Rent

Now that you have your initial costs calculated you need to think about your ongoing costs. Rent is only one part of the picture, there is no point moving into a place if you can’t afford anything but the rent.

Pay Council Tax and Utility Bills

Since you are no longer a student you will need to pay council tax, depending on where you will live that can be a painful cost. As well as council tax you will need to calculate the cost of your utilities, insurance, phone bills and wifi bills. Some landlords will include utilities in the cost of rent so make sure take that into account when comparing the rent prices. Most private landlords will expect you to pay for your own utilities. If you want to hunt for a bargain you can use the utility switch feature in our app to help you find a good deal.

This should give you a good idea of what the cost of moving is going to look like. It’s best to also have some spare cash for all the unexpected expenses that will arise: bath matts, appliances , changing those plates you just broke…  Moving can be overwhelming, but following the advice you can ease all those nerves. Don’t forget to focus on the positives too!

Remember Nova is here to help you save money and build wealth! Start saving up for the future today and download our App. Available in both Google Play and App Store.