How much does it cost to move to a bigger home?

Moving to a bigger home involves several layers of costs. First, you have the transaction costs of selling your current home and buying a new one, such as real estate commissions, closing costs and a down payment. You also have the physical moving costs of professional movers or a truck rental, packing materials and temporary storage. Finally, ongoing cost increases that may come with a larger property include higher mortgage payments, property taxes, utilities and maintenance.

Moving to a bigger home is an exciting milestone, but it also comes with plenty of decisions, expenses and logistical hurdles. Whether you're upsizing across town or relocating to a new city, understanding how much it truly costs to move is the foundation of a successful, well-planned transition.

This guide will walk you through the essential cost categories, from selling your current home and budgeting for a purchase to paying moving expenses and choosing the right time to move.

How to budget for a move to a bigger home

Before planning any move, start by assessing your finances and creating a comprehensive budget. You'll want to ensure your net monthly income can comfortably cover your current lifestyle and savings goals, as well as the new, often higher, costs that come with an upsized property. You'll want to ensure your net monthly income can comfortably cover your current lifestyle and savings goals, as well as the new, often higher, costs that come with an upsized property.

Here's a breakdown of what to account for when calculating your ongoing housing budget for a bigger home:

• Mortgage payment (principal, interest, escrow)
• Property taxes
• Homeowners insurance
• Increased utilities (gas, electric, water)
• Internet, cable and phone bills
• Car payments, repairs, gas, insurance and parking
• Groceries
• Home maintenance and repairs (budget for 1% to 4% of the home's value)
• Subscriptions (streaming services, gym memberships)
• Student loans or other personal debt
• Health insurance
• Childcare or education costs

If your monthly take-home pay covers these categories while still leaving room for savings and recreation, you're on the right track.

Upfront costs of buying a bigger home

Moving to a bigger home isn't just about monthly expenses. It comes with upfront costs that can strain your finances if you're unprepared. These costs are often higher than what you paid the first time around because the home itself likely costs more. Planning for these ahead of time and creating a detailed moving budget will ensure you know exactly what you need to save for.

To help you prepare, here's a breakdown of common upfront costs to include in your moving budget:

• Down payment: The average for repeat buyers is 14%, though putting down 20% avoids private mortgage insurance (PMI).
• Closing costs: Typically 2%–5% of the home’s purchase price, closing costs include lender fees, an appraisal, title insurance and recording fees.
• Home inspection fees: Home inspections generally cost around $340.
• Homeowners insurance: You may need to pay your initial premium at closing, which can be one full year of insurance.
• Moving company costs: These can range from $2,500 for a local move to $4,500 for a cross-country move.
• Packing materials: Common packing supplies include boxes, tape and bubble wrap.
• Temporary storage fees: You may need to store items while you wait to move into your new home.
• Furniture for additional rooms: A bigger home often means more rooms to furnish.
• Utilities setup: You’ll need to connect gas, electric, water and internet in your new home.

The ultimate size of your new house and the total distance of your relocation will dictate your final numbers.

Costs of selling your current home

When you’re upgrading to a bigger home, you have a cost category that first-time buyers don’t: selling the home you already own. The total cost of selling a home generally runs 6% to 10% of its final sale price when combining transaction fees, preparation and closing costs.

These expenses get deducted directly from your home’s equity at the closing table and should be factored into your upfront moving costs:

• Real estate agent commissions, which average from around 4% to 5.5%
• Home staging and preparation costs, which cost $2,000 per month on average
• Pre-sale repairs or improvements to maximize sale price
• Overlap costs if you need to carry both your old and new mortgages during the transition
• Bridge loan or home equity line of credit interest if you need to access funds before your current home sells

Ongoing costs of a bigger home

A bigger home doesn't just cost more to buy; it costs more to live in. Before you commit, make sure you've accounted for how your recurring expenses will change. These could include:

• Higher property taxes (assessed on the new home’s value)
• Increased homeowners insurance premiums
• Higher utility bills (heating, cooling and water for more square footage)
• Greater maintenance and repair costs (more roof, more siding, more systems to maintain)
• Landscaping and lawn care for a potentially larger lot
• HOA fees (if applicable in your new neighborhood)
• New furniture to fit into or fill space in new home

When is the best time to move?

While you may be eager to transition into your new property, strategic timing can yield significant financial savings. The right window to make your move depends on a mix of the calendar, economy and your target neighborhood.

Seasonal market trends

The time of year you choose to pack up affects everything from real estate inventory to the baseline rates of professional moving services. During the peak spring and summer months, the housing market is flooded with buyers, which means home listing prices, moving company fees and truck rental rates can skyrocket due to high demand. Conversely, moving in late fall or winter can unlock lower competitive rates from vendors, though you will be choosing from a smaller pool of available homes.

Your local market and the broader economy

Beyond the calendar, consider the economic climate both nationally and the area you’re looking to buy in:

• Local housing booms: Location plays a huge role in your timing. If your target area is experiencing a sudden development boom, buying sooner can help you lock in a price before values spike. On the flip side, if a wave of new construction is hitting the market all at once, waiting a bit might give you more negotiating power as builders compete for buyers.
• The economic climate: The bigger economic picture can also shift your timeline. During an economic downturn or recession, overall buyer demand usually cools, which can lead sellers drop prices. Keeping an eye on these shifts could help you time your move to secure the most favorable mortgage terms possible.

Your personal readiness

Your personal timeline is just as important. If you’re currently navigating a job transition, expanding your family or managing another big life change, waiting a few months to make your move is often the smartest choice for your finances. Taking a little extra time gives you a chance to look over your monthly spending, make sure your income feels steady and get your bank accounts ready for the transition.

Make your move a success with smart budgeting

Moving into a bigger home can be one of the most rewarding yet challenging experiences in life, but it doesn't have to be stressful.

According to Citizens’ Head of Deposits and Customer Engagement, Chris Powell, “if you're saving for a bigger home, try the 50/30/20 budgeting rule. To start, divide your after-tax income into three simple categories: 50% for needs, 30% for wants, and 20% for savings goals, including costs related to upsizing your home. It's a simple method to balance responsibility with enjoyment, allowing you to stay on track financially without sacrificing the things you enjoy most.

To make tracking your progress easier, consider using mobile banking tools like the Citizens Savings Tracker. Designed to make saving intuitive and manageable, the tracker tool helps you build habits that move you closer to your goal.

Budgeting for a larger home can seem daunting, but consciously breaking down your budget to prepare for all expenses — both expected and unexpected — will pay off in the end when you move into your new home."

By planning ahead and sticking to a moving budget, you'll avoid unexpected financial strain and set yourself up for a smooth, stress-free move.

Frequently asked questions

Is it cheaper to renovate or move to a bigger home?

The cheaper option depends on the scope of renovation versus the total cost of selling, buying and moving. A move involves real estate commissions, closing costs on both transactions, moving services and potentially higher ongoing expenses. Renovating avoids transaction costs, but you may be limited by your home's layout or lot size.

What hidden costs do second-time homebuyers often miss?

Second-time buyers often underestimate potential hidden costs like carrying two mortgages during the transition, bridge loan interest, capital gains tax on the sale of their current home (if applicable) and the higher ongoing costs of a bigger property, including increased property taxes and utility bills.

How can I reduce the cost of moving to a bigger home?

You can reduce costs by moving during off-peak months (late fall or winter) when moving companies and housing inventory pricing may be lower. You can also negotiate closing costs with your lender, use your existing home's equity for the down payment and get multiple quotes from moving companies. Timing the sale of your current home to avoid carrying two mortgages can also significantly reduce total costs.