Big move ahead?
Moving to a new home or business premises can be a stressful drain on your finances. Careful planning can make all the difference!
Moving to a new location can be hugely beneficial in both your personal and professional life. A move to a new home can help you to accommodate a growing family, move you closer to the amenities that matter the most to you, or afford you greater comfort, convenience and security. Likewise, changing your business location can improve productivity if your new location is more accessible for your team.
Whether you’re managing a domestic or commercial move, there are certain things that you’ll need to take into account to ensure that the move doesn’t take too long or open up a black hole of expenses. These include...
Both domestic and business moves require careful budgeting. As early as you can, start comparing quotes from different removal partners. You’ll be surprised by just how much variance there is between quotes.
Saving money to offset moving costs
Once you’ve moved, there are ways in which you can offset the cost of moving with savings elsewhere, like your energy costs. According to the experts at Papernest, many of us lose money when we move because we’re automatically transferred to a deemed contract with the property’s incumbent supplier. These suppliers typically put us on their standard variable tariff until we instruct them otherwise. This applies to both business and domestic energy. So unless you are proactive in moving or upgrading your energy plan, you risk overspending on energy and compromising your cash flow.
Remember, you can outsource accounting talent
The costs incurred during your move are tax-deductible, so you’ll need a skilled accountant to ensure that they are deducted from your overall liability. However, keeping an accountant on payroll may not be a cost-effective measure for your business. Remember that we can help you to outsource accounting talent in line with your needs and budget! Find an expert Accountant here.
Inevitably, a move will interfere with your productivity. So it’s important to plan accordingly. This goes both for domestic and business moves. Moving your SME to a new location will inevitably require you to pause normal operations. But that doesn’t mean you have to sacrifice productivity.
Remote or hybrid working can keep your team at peak productivity while the move takes place, and using project management tools can help you to marshall your workforce wherever you are. Likewise, if you are a self-employed person moving to a new home, you’ll need to plan your working hours around your move. Keep in mind that it may take you a week or two to get your new home connected to the internet. In this case, you may need to find a local library or cafe from which you can work, unless you have a robust mobile data allowance to make up for it.
Whether you’re moving your family or your workforce, you shouldn’t have to bear the responsibility alone. A moving partner can carry out as much of the work as your budget allows, from transporting your items to packing and unpacking services. However, if your budget is limited, you should consider drafting in others to help. Everyone in the household or office can take responsibility for moving a portion of your belongings or inventory. This will make the move less stressful for you, enabling you to focus more on coordination and logistics.