K1: lease house in hyderabad
So you’re moving to Hyderabad for the first time, ready to begin a new chapter of your life as a college student or a young professional, are you? And that’s one of the most exhilarating things that you’ve ever experienced, isn’t it?. But while you’re super excited about the move, you also find yourself worrying a little bit about how much it’s going to cost. After all, you’ve never had to manage your own money before. Can you figure out how to lease a house in Hyderabad, arrange utilities, pay for travel and entertainment without breaking the bank? Well, if you make some smart choices, you definitely can. Don’t worry if you’re completely new to this game because we’re here to lend a helping hand. Check out our top tips to help you move to Hyderabad on a budget.
Research the cost of living in Hyderabad
The budget that you make to move to Hyderabad will depend on the cost of living in the city. So, you need to do sufficient research in order to find out. Look at all the aspects of daily life that will cost you money – from accommodation to transportation to utility costs and grocery bills – so that you can get a clear picture. Compare this with the living costs of your current city and see the difference. If Hyderabad is more expensive than your current city, you need to figure out how you can pay for the difference. Start saving up early to ensure that you’re not caught without sufficient cash.
Sort your stuff
Planning for the costs of living in Hyderabad is well and good, but if you want to stick to your moving budget, you also need to think about minimising your moving costs. If you want to transport every single item from your family home to your new accommodation, it’s going to cost you a lot of money. So, don’t just throw everything you own into your suitcase. Use this as an opportunity to sort through your belongings. Donate or discard any items that you no longer need or use, or you could even try reselling them for some quick cash. This will help you a lot during your moving process and help to declutter your life.
Make two separate budgets
The reason that most people exceed their budgets is because they don’t budget well in the first place. If you’ve just set aside a lump sum for the move, it’s not going to help you meet your needs. Instead, you need to have two different budgets – one for the moving process and the second for the initial expenses in Hyderabad. This is to help you ensure that you’re ready for all the different costs that will come your way and plan accordingly. Hiring and booking packers and movers, arranging transportation, your first month’s rent and security deposit, setting up utilities and travel within the city are some of the main costs that you need to plan well in advance for.
Have an emergency fund ready
While your budget is a great place to start, you should always be ready for unplanned expenses. And having an emergency fund in place is the best way to do that. If you’re not sure how much money to set aside when moving to a new city, then a good rule of thumb is to save up to three months of living expenses as a backup fund. After all, there’s no harm in having a little extra put by and increasing your sense of security than to be caught unprepared in a bad time.
Make smart accommodation choices
Hyderabad is a pretty affordable city if you’re smart about where you want to live. Living alone in a flat and managing the rent, food, groceries, and utilities by yourself is sure to get expensive. But a smart accommodation choice can make life super affordable for you. Opt to live with a roommate so that you can split the cost or choose a professionally managed space like Stanza Living to save yourself time and money. They’ll give you access to a fully furnished room or flat with a bunch of amenities included in the monthly rent that will make it a lot easier for you to live comfortably on a budget. Plus, since accommodation tends to be the biggest drain on your income, if you’re able to cut down here, you’ll be able to save money for the things that you really enjoy.
And there you have it. With these moving tips, you’ll be able to stick to your budget when it comes to moving to Hyderabad. So, go ahead and put them into practice and all the best for your big move.
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