Moving house has to be the biggest expense I have ever experienced. Even going to university to do my degree and Ph.D for six years wasn't this expensive.
Despite my best efforts, my budget sprang leaks everywhere. In fact towards the end we were throwing money at problems to make them go away. Thank god for us being so frugal over the years, because we could have been financially crushed by all of this.
- We had to pay for an unexpected insurance policy for our buyers at £205.
- We ended up paying for a gas and electrical safety check, which we didn't expect, and that cost us about £150.
- Martin hired a van to move his workshop, which was a budgeted expense, but he thinks it was a very old uneconomical model as he spent over £80 more on petrol than anticipated.
- Then our removals firm let us down and we ended up having to get another one at very short notice and £400 more expensive.
- We didn't move out on the same day as the removals, and that six day gap resulted in us having to hire a van as we misjudged the amount of belongings we left behind. That should have cost us £62 for a 24 hour hire, but we ran out of room at the shipping container and it took us two days to find an empty one, so the cost became £186 plus £40 petrol.
- The extra shipping container set us back £102 a month.
- As we were buying something that had once been an agricultural farm we had to have extra searches and legal work done. £300 and rising by the day.
The only saving grace is that we temporarily no longer have a mortgage and living at Mother-in-law's for a couple of months will help us save some money before the next stage of the journey is complete
At the moment we pay for three shipping containers, all of the food for the three of us, petrol, and an amount of money towards household bills. I am still paying the life insurance policies, and £5 a month to keep our email addresses. Everything else is, fingers crossed, cancelled so I can once again begin screwing down the frugal hatches and start saving some money.
This is just the beginning though. Because Audrey is coming to live with us, she is gifting us some money from the sale of her house so our large mortgage will decrease in time to a much more manageable level. But no matter when she sells, for the first two years we are on a fixed mortgage deal so cannot pay off any of it using her lump sum. We have to wait until it expires before doing it, then try and get another fixed deal jut as good straight after.
I've already worked out that we could overpay the mortgage every month if we are quite careful with our expenses. In fact, I've worked out that we could get the term from 19 years to 6 years 10 month if we overpay by the maximum £500 our mortgage product allows.
Ideally I want that down to 5 years so Martin can retire at 60, which means I'll have to put some money aside above the £500 in a separate account ready to pay down extra chunks on the two occasions we come off a fixed deal. That will be a big squeeze, so I'm going to have to be a bit cunning with the budgets.
Spending all this money has not been in the slightest bit fun and I'm desperate to settle down and get back to the frugal ways I am used to.