How much money will it cost you to find a rental home in Melbourne? We dissect the cost involved for you or for your company if you are being relocated for work. This is not about the relocation costs of bringing your personal belongings over but the cost associated after you are in Melbourne and searching for your long-term rental home.
Cost of Temporary Accommodation – Average $210 per night
The cheapest temporary accommodation is to stay with family and friends. Being without them in Melbourne, your options are hotels, short-stay apartments and AirBnbs. How much does it cost. Short-stay apartments that comes with a mini-kitchen gives long-term pricing when you stay for more than 30 days. For a one-bedroom apartment, that is under 30 days, be prepared to spend $200-$240 per night. For hotels, it depends but ball-park figure will start at $220 per night. For AirBnbs, prices are lower. It can start anywhere from $120 per night to $200, depending on location and the amenities included.
Cost of Transportation when Searching for a Melbourne Rental – $6.40 per day
Include the cost of getting to and from the inspections. How many do you think you will be viewing before you find the right place? Will your application be accepted?
Another transportation cost is going to the rental agency to drop off the bond and the first month’s cheque and to sign the lease agreement.
After this, you’ll need to go back to the rental agency to pick up the keys on the date the lease starts.
How do you plan to get around? Will you take the public transport? If it is a 2-hour trip, that is if you can do everything within two-hours, the cost is $4.10 and for the daily trip, that’s $8.20. Multiply these amounts by the days when you will be inspecting rental properties. Most inspections are on Saturday but there are a number of scheduled inspection on weekdays lunchtime and early evening. I’m not even going to calculate taxis and Ubers.
Cost of Food when Looking for a Melbourne Rental home – $30 per day
This is one of the costs most people do not include. Instead of filling your fridge up with food that you purchase in a supermarket, you’ll most likely be eating out at least twice a day. Let’s ignore coffee, because whether or not you are in your own home in Melbourne or staying at a temporary accommodation, the enticing waft of fresh coffee cannot be ignored. Let’s stick with lunch and dinner only and assume that each meal per person is $15. This figure is higher than McDonald’s and Hungry Jacks/Burger King but a little lower than eating at a cafe. That’s $30 per person a day. $60 for a couple per day. Multiply this by the number of days you spend looking for a home and waiting for it to be available for you to move in.
How long does it take to Find a Melbourne Rental – optimistically 14 days
On average, it takes people 21 days from the time they start looking to the day they move in. When you find your rental home after relocating Melbourne, it doesn’t necessarily mean that you can move in straight away. To be overly optimistic and for the purpose of this exercise, we will use 14 days. That’s one weekend to go and inspect Melbourne rentals and the following week to get ready to move in.
Cost Calculation of Searching for a Melbourne Rental
Temporary Accommodation $220 x 14 days = $ 3,080
Transportation (10 full-day public transportation) $8.20 x 10 days = $ 82
Food (2 meals, lunch and dinner only) $30 x 14 days = $ 420
Total Average Cost of Finding a Melbourne Rental – $3,582 per person
$3,582 for one person. For two people, the temporary accommodation cost stays the same but we double the food and transportation cost, which would be $1,004. Add this to the temporary accommodation and that’s $4,084.
Why it is More Economical to Use Finders Keepers Rental Property Locators
We want people to not spend money when it isn’t necessary and there are other options available. The option we provide allows you to move in on the day you arrive. This means that all the expenses you have from finding your Melbourne rental home after you arrive are eliminated. No need to find and stay in a hotel, serviced apartment or Airbnb. No need to feel obliged to friends and family. No need to pay for transportation to and from inspections and real estate agencies and no need to spend on eating out every single meal. With our help you can save yourself at least $2,000 and you get to unpack permanently on the day you arrive.
