Money doesn’t grow on trees. For most of us, there is a limit to what we can spend, especially on big ticket items. That’s why most people use a budget when it comes to big stuff like buying a car, renovating a house, planning a wedding or moving!
Hidden or unexpected costs can throw off the whole budget. I’ve seen enough families who’ve replaced the excitement of a new move with the anxiety of feeling like you are bleeding money.
So here are a few costs you should be aware of that you should factor into your moving budget.
Mover expenses: About 50% of people use professional movers regardless of the distance they are moving. According to HomeAdvisor the average cost of a local move (which is considered less than 100 miles) is about $80-$100 per hour for 2 movers. A cross-country move (over 100 miles) costs about $2-$5K. If you hire a moving company to do the move for you, make sure to read the fine print. Some places charge extra for climbing stairs or if they have to park the truck too far from the entrance to the home. You’ll might also be charged more if you need more than the standard 2 people to move.
Truck Rental: The majority of people moving each year aren’t going far. According to Zillow, 57 percent of home buyers who also sell a home move within the same city, and 86 percent move within the same state. That’s why a lot of people opt to do the packing and loading on their own (usually with the help of a few good friends). Flat day rates aren’t bad but ask about gas, mileage rates and keep in mind that dolly’s and additional accessories like moving blankets and ties are usually extra.
Heaving Lifting help: You can save your back (and keep your friends) by hiring people to just do the loading and unloading of the big stuff. It’s a lot less than using a moving service to do it all. But don’t forget to factor in a tip for the movers. Typically you’ll tip each mover at least $50.
Save on boxes: Buying boxes to pack up your items can be expensive. Before you know it you can easily rack up over $100 just in boxes that you won’t keep! I recommend checking Craigslist for free boxes or ask your local grocery store if you can have some. Don’t forget to add supplies like bubble wrap, and tape to your moving supply budget!
New Fees: Setting up a new home costs money. Some utility and cable companies require deposits or connection fees. Breaking gym contracts, replacing appliances, fees to open new accounts or get a driver’s license are all possible additional fees you may not have considered.
Replacements: This is the one that really adds up! A lot of people leave behind things like cooking spices or cleaning supplies but all of those will need to be replaced when you move into your new home. It’s a sure way to make a quick run to Target end up costing $200!
When you move may add to the cost of the move as well. The U.S. Census Bureau says approximately 16.7 million households move annually, with almost half moving in the summer. CityMove.com says moving rates may be up to %25 more during peak season than if you move between October and April.
Moving is hard, no doubt. It is a lot of moving parts (no pun intended) but it really can be fun! You just need to make sure you do a little extra planning before it all starts so you can minimize the surprises and enjoy the adventure.