Economy10:17 · Sep 1

Moving Homes in Israel Can Cost Tens of Thousands of Shekels

Bizportal
Translated & summarized from Bizportal by baba
The story · English

Moving to a new home in Israel is a complex and often expensive process that extends far beyond the cost of hiring movers. While the initial quote for moving a three-room apartment might range from 2,500 to 4,000 shekels, additional expenses can quickly escalate the total cost to tens of thousands of shekels.

These hidden costs include brokerage fees, which can exceed 8,000 shekels for a monthly rent of 7,000 shekels, painting and cleaning services, furniture disassembly and reassembly, and even the need for a crane, which can add hundreds of shekels per hour. Professional packing and unpacking services can add another 1,000 to 3,000 shekels, and preparing the old apartment for handover, including repairs and painting, can cost thousands more.

Financial obligations also arise from overlapping lease agreements, where a week's overlap can cost around 1,600 shekels for a 7,000 shekel monthly rent, potentially reaching 7,000 shekels for a full month's overlap. Landlords may also require security deposits or bank guarantees, which can amount to tens of thousands of shekels, tying up significant capital even if it is eventually returned.

Furthermore, the need to purchase new furniture or replace items that don't fit the new space can add another 3,000 to 10,000 shekels, or even more for major purchases. For those buying a new home, the costs are substantially higher, with renovations, new kitchens, and furnishings potentially adding 100,000 to 250,000 shekels on top of the property price.

Ultimately, a seemingly simple move can snowball into a financial undertaking of 15,000 to 40,000 shekels or more for renters, and hundreds of thousands for new homeowners, with expenses often continuing long after the move is completed.

Read the original at Bizportal
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