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How to Budget for Your Move

Published by Chris Townsend

How to Budget for Your Move

Moving is complicated, and it may rapidly be expensive if you don't plan early. And moving expenses have a habit of growing without our knowledge. It's common to misjudge how much relocating will cost, which only adds to the stress of the process.

It's crucial to set aside some time to build a customized moving budget so you know what's coming. Of course, there are other elements to consider when drafting a moving budget and calculating the cost of your relocation.

You can develop a moving budget that will help ease some of the stress associated with this difficult process by having the right information and being proactive.

Things to Include in Your Moving Budget

When planning your budget, there are several things to note down for you to have a stress-free move. However, the things you write down will depend on you and what you want for your move. For instance, you may choose not to include moving boxes as one of the things to pay for because you can get them from friends and family. Meanwhile, you know very well that using a rental truck to move to your new place is a no-go because of the stress and distance. Highlighted below are the general stuff to add to your moving budget:

  • Pre-move expenses – Moving supplies (boxes, tape, etc. ), cleaning materials, storage services, and other services are all included.
  • Moving expenses – This covers things like insurance coverage, food, a rental truck or professional movers, gasoline, among other things.
  • Post-move expenses – This covers utility installation and setup fees, as well as the cost of purchasing stuff for your new house, replenishing your fridge, and other expenses.
  • Contingency Expenses – This is money available for any unanticipated expenditures, such as extra relocation fees or extra items needed for your apartment, and so on.
Money saving tips

How to Save Money While Moving

Let's take a look at how you can save money during your move.

Avoid Moving During the Peak Moving Season

Summer is the most popular time to relocate for a reason. Families with children can move more easily now that their children are out of school. College activities are usually over for the year, and students may be considering other accommodation alternatives. Graduating students will be seeking places to rent or buy when they move out. The weather is pleasant, and you will not be exposed to the bitter cold of winter.

All of this adds up to a lot of people trying to buy or rent homes and apartments. As a result, there is a lot of competition for available properties. Since there is a great market of people looking to buy, property sellers can often ask for a higher price for their homes. And when everyone is looking for a place to live, it often leads to landlords charging higher rents.

However, since landlords may be trying to fill empty rentals in the winter, you can occasionally bargain on stuff like down payments with them. Furthermore, off-season offers or discounts may be offered by moving companies during the winter months. In basic terms, moving during the winter months might save you money both at the time of the move and later on in terms of expenses like rent.

Moving within a plan

Make Early Plans for Moving Expenses

Moving without a plan can result in unforeseen costs. Do some research to see how much things will cost in the real world, and make sure you leave some room in your budget for unanticipated costs. After that, develop a schedule for when you need to leave your old apartment and when you need to move into your new one.

If you need to rent a storage container while moving, keeping it orderly will help you stay on schedule. If you're going to hire a moving company or rent a moving truck, you'll want to hire the best. Three Movers, for example, provides clients with both moving and storage services.

Avoid Spending on Things You Don't Need

Utilities must be transferred while moving in or out of a residence. Transfer the utilities as soon as feasible if you won't be using the property you're leaving. You do not have to pay for utilities that you will not use. If you can't yet transfer utilities, adjust the thermostat to save energy and expenses. Furthermore, you can save money by not purchasing moving boxes. There are numerous locations where you can obtain free boxes. You can borrow some from friends and relatives, or you can purchase fairly used boxes in good condition for a lower price. No need to spend money on new boxes merely to keep your belongings safe for a short time.

Steps on Creating the Ultimate Budget for Your Move

Step 1 – Take Inventory

Determine what will be moving to your new home before you do anything else. Household items such as kitchenware, clothing, and furniture will be included in your inventory from the start. However, walk over each room to confirm that your inventory is accurate and that you haven't overlooked anything. You'll be able to find the best accommodations for your needs if you do it this way.

Provide moving estimates or quotes

Step 2 – Research is Very Important

Knowing what items are heading to your new house can also help you figure out what kind of movers you'll need. To provide estimates or quotes, professional movers will require your inventory. These estimates are dependent on several criteria, including the items being moved and the destination. Here's a rundown of what to expect:

  • Base moving fee: Moving companies begin by charging a base rate. In other words, this is the fee that all of their customers must pay, regardless of the number of "items" being moved to the new destination.
  • Specialty items fee: Moving companies classify chandeliers, paintings, pool tables, pianos, and artwork as "specialty" items. Due to how fragile or difficult they are to move, they will likely charge an additional amount to move them.
  • Moving insurance: Moving companies provide "valuation," which is essentially insurance for your belongings. This means that if the company loses or damages your belongings, you will be compensated. Companies will not charge you for basic coverage, but they will for more comprehensive options.

Step 3 – Decide the Time and Place to Move

Whether you believe it or not, the time of year you select to move affects the cost of your move. Just like we mentioned earlier, if you're moving during the summer, you may expect to pay extra. Since it's chilly outside and moving in the snow is difficult, fewer people relocate in the winter. In addition, since children are not in school during the summer, it is easier to move with them during this time.

And, of course, the location of your move has an impact on the cost. The cost of living will be higher if you move from a more rural region to a big city than if you move from a city.

Amount of moving budget

Step 4 – Budget for Everyday Expenses

Alas, life will not stop while you plan your move. School is still in session, and you still need to shop for groceries. All of this, and more, must be paid for while financing your move to your new place. Hence, begin by keeping track of your monthly costs and deducting that amount from your after-tax income. This is the amount of money you'll allocate to your moving budget and associated costs.

Step 5 – Always Try to Save Money

We may have addressed this earlier, but there's no harm in getting a few more pointers on how to save money before and during your move.

When planning your moving budget, think about where you can save money. If you enjoy eating out (as many of us do), buying groceries to make your favorite restaurant dishes is a fun way to save money.

It's up to you how you save money, but the amount you save has an impact on the quality of your move. There are also numerous other ways to save or earn money. Having a yard sale, for example, is a terrific way to get some money back in your pocket.

It's also crucial to set reasonable savings objectives. Many banking apps now provide the option to deposit money from a checking account to a savings account instantly. To keep things organized, consider opening a separate savings account for your move. Moreover, keeping your relocation budget distinct from your other finances protects you from overspending.

Have an emergency fund

Step 6 – Have an Emergency Fund

Moving can throw a few curveballs at you. And it can be challenging to set up an emergency fund based on your financial status. If you have the financial means, it's a good idea to set away some money for the unexpected because you never know when you'll need it.

Put Your Plan in Motion

We hope that this guide has assisted you in getting your moving process structured and making it less stressful. Begin by getting a free moving quote from Three Movers. For more than two decades, our expert and professional movers have assisted customers with local and long-distance relocation across the country and beyond.

Chris Townsend is a moving professional and relocation expert that has more than 10 years of experience in the moving industry. With a background that includes working in virtually every aspect of the company, he has distinguished himself as an integral part of our operations with expertise in all things related to moving. Chris has a keen eye for detail and brings intelligence and passion to every project he’s involved with.

While getting his degree in communications from Santa Clara University, Chris started out with the company working in the field as part of our team of professional moving associates. Following graduation, he was promoted to our main office, where he has thrived in a role that involves increasing responsibility and requires him to wear many different hats. Some days, you may find him answering the phone and providing moving estimates, others he may be writing for our moving blog, and another day he may be coordinating a large corporate moving job or helping us with our marketing efforts. Chris has authored many of our in-depth moving guides, as well as provided our clients with information and advice to handle the complexities of their upcoming moving plans. Simply put, there’s nothing he can’t do and we wouldn’t be where we are today without him.

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