Moving is stressful enough – make sure you’ve planned for all the fees

Twelve years ago, Jeffrey Schwartz and his family were in the middle of moving when events took an unexpected turn.

There was a three-day gap between their move out of their old Toronto house and the date when they took possession of their new one, so their belongings were stored in a moving van – which was then broken into.

"Everything was turned upside down. Some stuff was stolen, but mostly they just created a lot of damage," he said.

Fortunately, Mr. Schwartz, the executive director of Consolidated Credit Counseling Services of Canada Inc., had the foresight to check with his insurance company to make sure his property would be covered. He also made sure the movers he hired were insured.

Property insurance is the last thing on most homeowners' minds while moving, just one more expense amid the other bills. If you're moving this summer, make sure you take the time to plan ahead and budget for all the big and small costs associated with changing addresses, Mr. Schwartz said.

Here's a look at some last-minute expenses:

1) Land transfer tax. Unless you are a first-time home buyer meeting certain criteria, you will need to pay this tax when you take possession of your house. Rates vary from province to province and depend on the price you paid for your home, but generally expect to pay between 0.5 per cent and 2 per cent of the purchase price. For example, if you paid $350,000 for a house in Ontario, you would have to pay 1.5 per cent or $5,250 in land transfer taxes.

2) Legal fees. Try to negotiate an all-inclusive package with a lawyer who specializes in real-estate transactions. How much you pay will depend on the complexity of the sale and the type of property, but set aside at least $500 to cover legal costs. In addition to reviewing or preparing the purchase agreement, your lawyer might need to perform a title search to ensure no one else can claim ownership to your new home, as well as fax, photocopy and mail the relevant documents.

3) Moving company. Research prospective moving companies by reading on-line reviews, then get three quotes and insist upon a site visit before you hire. Depending on where you live and how much stuff you have, rates will vary, but expect to pay between $50 and $100 an hour. Make sure you know what is included in the rate, such as how many movers the company will provide and whether the price includes gas. Make sure the company is insured for damages and theft.

4) Change-of-address fee. Assuming you still receive snail mail, you will need to pay Canada Post $72.50 for a move within the same province and $90 for a move to a new province.

5) Moving your cable, Internet and phone. If you want to stay with your current provider, see whether there is an online do-it-yourself tool for moving that could cut the relocation expense. For example, Rogers offers its customers in Ontario a $30 credit if they make the changes on-line rather than calling a customer service representative. Meanwhile Shaw Communications in Hamilton charges $35 to transfer a home phone line within its trading area, plus $12 for each new outlet. If you are moving to a new area or switching to a new provider, check to see how much you will be charged.

6) Don't forget energy costs. Your utility company will want to take a final meter reading on your current home. Ask your provider about account-change or set-up fees for your new place. Budget for the final meter reading on your current home and first meter reading from your new home.

7) Credit-reporting agency fee. If you are a new customer or have a less-than-favourable credit rating, energy and utility companies may run a credit bureau report on you. Although you did not initiate the report, you will be responsible for the cost, around $15 per company.