You’re moving? Expect these costs and administrative hurdles!
Direct and indirect costs of moving house, administrative procedures, etc... : here is a quick overview of the steps to complet before you can start emjoying your new home and getting to know your new neighbours.
Who to contact?
Whether you’re about to move to the Grand Duchy of Luxembourg for the very first time or “only” moving from one local municipality to another, you have to declare your arrival at the city council administration of your new place of residence within 8 days of the occupancy of your new home.
- Update your data after registering with the administration of your new city or town of residence.
- Make arrangements for your rental deposit if you are renting.
- Check your insurance policies and make sure you are properly covered.
- Have your income paid into your main account and set up the necessary standing orders and/or direct debit mandates (gas, electricity, telecommunications, etc.).
- Did you know that you can view and download your bank statements online? It is better for the environment and it will be one less postal item to have forwarded to your new address.
Ask to have your mail automatically redirected to your new address to make sure that you receive all your mail and all your bills in the weeks following your change of address.
If you are sticking with the same suppliers (gas, electricity, water, internet/telephone) than the previous occupier of the residence, fill in the transfer forms together to avoid the additional costs of closing and reopening accounts.
If you’d like to keep your current suppliers, fill in their change-of-address form or contact them directly.
Also think about contacting your telecommunications supplier in good time so that you are not left without a phone line, internet or television.
Inform your employer of your change of address. This is important for correspondence but also when it comes to the calculation of any commuting allowances. Consider taking a few days off so that you can properly prepare your move.
Though we cannot give you a complete list, you should not forget to notify people of your change of address: your friends, your family, your mutual health insurance company, but also any newspapers or magazines you subscribe to, your children's sport clubs, etc.
How much does it cost to move house?
Of course, it is difficult to summarise all the costs involved in moving house as this depends on different factors. You will have direct costs such as hiring a moving van or hoist. You might also need a specialist removal company.
But moving house also involves indirect costs, which are less obvious:
- Notice penalty for terminating your current rental agreement
- One-off cost of temporarily forwarding mail
- Possible change in commuting costs
- Higher insurance premiums
- New furniture
- and so on…
And after taking care of all this, there will be only one more thing left to do: enjoy your new home ;-)
Often you hear people say: “Anyway, until I have paid off my home loan it’s the bank who owns my house”. But is it true?
It is always the same question that every one of us is asking before signing a home loan with his bank. To gain a more objective overview, let’s analyse them one by one with their respective advantages and disadvantages.
The rate remains fixed for a pre-defined period and, at the end of the period, is subject to a revision. The pre-defined period can vary from one bank to another but is generally 3, 5 or 10 years.