[Zarmonic]

It would be that expensive by design. RPM was originally meant to favor the urban fantasy setting where subtle magic is more the norm.

A lot depends on the GM and the kind of game it is. If it is a more high fantasy style campaign and if wizards turning into animals was relatively common, I might suggest that instead of considering the clothes a separate effect, calling it a Can Carry Objects modifier.

Its in the Basic Set for advantages like Invisibility but it's listed more generally in PU4. And then model the cost same as for an Affliction, which is 1 point for every +5% it's worth. (No Encumbrance is +10% so that would give a spell modifier of +2) Many would argue that it goes against how the system should work but it has the benefit of cutting down on the number of naked wizards in the game.

It's entirely the GM's call of course.