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How to calculate the costs of relocating to Milton, ON

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Picture of a person who is about to calculate the costs of relocating to Milton

Moving can be a big deal, but it doesn’t have to be a surprise for your wallet. Knowing how to calculate the costs of relocating to Milton ON, if that is your place of choice, makes planning simpler and less stressful. We’ll break down essential costs, including the services of reputable moving companies Ontario, to give you a better understanding of the budget you’ll need for this significant life event.

Housing and moving service costs are some of the biggest expenses to account for

Housing is usually the most significant expense you’ll face, especially nowadays with rising costs. In Milton, the average price for a single-family home is around $1.1 million. If buying a house is too ambitious for you at the moment, you can always rent a property. That being said, an average one-bedroom apartment goes for about $2,500 per month.

Picture of keys
Housing costs are a big expense nowadays, so you can rent an apartment instead

Of course, getting your stuff there is the next big thing, and our movers Milton ON, can help with this. Reliable moving services usually charge between $80 and $200 per hour. However, the price can go up if you have bulky or fragile items. Therefore, it’s a good idea to get quotes from at least three companies to ensure you get the best deal while exploring your options.

Travel and temporary accommodation expenses

When planning a move, people often oversee the actual process of getting there. Have you thought about how are you going to get to Milton? Driving is often the cheapest option. However, the price of gas isn’t something to ignore. The average price per liter is $1.24. And if you’re coming from far away, you may need to stay in a hotel for a night or two. Keeping this in mind, you should know that the rates for accomodation in Milton start from around $110 per night.

Utilities, property taxes, and home insurance

After moving, you’ll need to set up your utilities. Electricity bills can range from $100 to $200 a month, even more so in the winter. Also, don’t forget about the internet, which is around $60 a month. These numbers add up quickly, so factor them into your monthly budget.¬†Then, account for property taxes as well. In Milton, you’re looking at an average annual property tax rate of 1.25%. Meanwhile, home insurance can be around $1,000 a year, depending on your coverage.

Educational and healthcare costs also need to be taken into consideration when calculating the costs of relocating to Milton

If you have kids, schooling is a must and it is one of the crucial factors when you calculate the costs of relocating to Milton. The city has public, private, and Catholic schools. The average annual tuition for private schools is around $15,000. Public schools are free, but consider extra costs like books and field trips. Healthcare is another crucial part. Even though Canada has a great public healthcare system, additional health insurance could set you back $75 to $200 a month for a family. This covers things the public system might not, like dental or vision.

Vehicle and commuting budget

If you’re bringing a car to Milton, you must consider registration fees and insurance changes:

  • Registration fees can be around $50, while car insurance varies but averages about $1,500 per year in Ontario.
  • When it comes to commuting, many of us spend more time on the road than we’d like. In Milton, public transit costs around $100 for a monthly pass.
  • If you prefer driving, calculate your gas expenses, which can quickly pile up. With the average price per liter at $1.24, those daily trips to work can add up. This further emphasizes the importance of driving a car that is efficient and doesn’t use much gas.
Picture of a person driving a car
Commuting is an everyday expense

Storage, furniture, and supplies

If you failed to find time for decluttering, or brought lots of memorabilia with you, then storage is a valid option. For the things you’d like to store, rental units can cost about $150 a month. On top of that, you might need new furniture or appliances for your new home. Prices can range from $400 for a basic couch to $1,000 for a fridge. Moving to Ontario, into a somewhat furnished house won’t be a big expense, but moving into a completely empty house can really pack a punch to your finances.

Leisure, entertainment, and daily living

For fun, you’ve got options in Milton! A typical night out at the movies for a family of four can be about $60. Dining out? Expect to spend about $30 per person at a mid-range restaurant. And since you’re new in town, it’s worth knowing that Milton has an average annual rainfall of about 800 millimeters. So, maybe keep an umbrella in the car.

Miscellaneous and unforeseen costs: Because life happens

Sometimes, things don’t go as planned. That’s why it’s smart to set aside some money for the unexpected. A decent buffer could be about 10% of your overall moving budget. Also, if you’re moving from afar, long distance movers Canada often recommend accounting for extra time and costs. You never know when a flat tire or weather delays could set you back.

Legalities and taxes

When you change your address on official documents, various institutions might charge fees. For example, updating your driver’s license can cost around $35 in Ontario. Also, if you’re buying a new home, the land transfer tax is crucial. In Ontario, this tax starts at 0.5% for properties valued at up to $55,000 and can go up to 2.5% for those over $400,000. So, if you’re buying a $500,000 house, you could be looking at around $6,475 in land transfer taxes alone. It’s essential to budget for these details to avoid any financial hiccups.

Picture of a calculator, a pen and a book
When you calculate the costs of relocating to Milton, don’t forget the legalities

Are you ready for your move to Milton?

We hope that you’re now better equipped to calculate the costs of relocating to Milton. The key here is to be thorough. Keep an eye on both big and small expenses. The small ones are especially important to include in your moving budget because they can quickly add up and be more impactful than the big expenses. Also, don’t forget to set aside some money for those “just in case” moments. Happy moving!