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Moving Costs: How to Budget Your Move and Tips for Saving

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Moving can be as stressful as it is exciting, but it always helps to be thoroughly prepared. First and foremost when planning your move comes the budgeting. How much you spend in moving costs will depend on when and how far you move, how big your home is, and what kind of moving services you use.

Here’s what you need to know in order to be prepared and tips for saving during your move.

When and Where

For any moving services from trucks to movers, the day of the week and season are going to be a factor in your costs. When moving, people tend to shoot for weekends, and resultantly, rates are going to go up on Saturdays and Sundays. Similarly, avoid moving in the summertime if you can, as moving costs tend to be more expensive during this high-volume time of the year.

Then, you have to factor in the distance you’re moving. If you’re moving locally, truck rental costs will run you anywhere from $50 to $300 per day, factoring in gas, rental fees, and insurance. On the other hand, a long-distance move will be much more expansive, ranging from about $400 to thousands of dollars depending on rental rates and exactly how far you need to go.

Some truck rental options have tow trailers you can rent, so you can at least save some money on having to drive or tow your own vehicle separately. Having a car shipped over long distances can cost up to $1,500, so find alternative solutions if possible.

Size of Your Home

Perhaps the biggest factor in your moving expenses is going to be the size of your home. With each additional room of your apartment or house, costs are going to go up, whether you are using a moving service or not.

Set yourself a base budget of $200 for a local move in a one-bedroom home, then work your way up. A good rule of thumb is to add about $175 per room of your home, plus a few hours of labor. A four-bedroom house might cost as much as $1,000 after all is said and done.

Moving Services

Depending on what moving services you want, your moving budget is going to go up. Service options can vary from packers to movers to specialty item moving fees. The more you delegate, the hirer your costs will rise. The American Movers Association estimates the average cost of a mover service across state lines is $4,300, while even a local move averages as much as $2,300.

You can add a professional packing service to these costs at around $25-35 per hour. Sometimes the costs of packing supplies are included in that, potentially making this a worthwhile option depending on how much you hate packing.

Finally, if you want to protect your items in your move with a protection plan that covers the full value of your household goods, prepare to pay a premium. Specific replacement policies under a full-value protection plan vary by moving company, but these insurance policies are typically calculated based on amount per pound of goods you estimate your stuff is worth.

For example, if you are carrying 5,000 pounds of household items in your move and you estimate it to be worth about $10 per pound, you’d pay about $500 as a 1% premium. This cost allows you to recover any potential damages that occur in your move.

Tips for Saving on Moving

Moving is expensive, and you want to save as much as possible for getting settled in your new home.

Here are a few simple tips for cutting down moving costs:

  • DIY

Packing and loading a truck by yourself or with the friends and family can save you thousands of dollars. Depending on your time, the cost of movers and packing services may be a necessity, but if you can prepare your items or don’t have too much to move, definitely consider doing it yourself.

  • Enlist the help of family and friends

If you’re enlisting the help of friends and family, be sure to have everything packed and ready to go before they arrive to help you move. You will save them a lot of time and frustration—frustration directed at you. Then, show them gratitude through buying them lunch or sending them gift cards. Consider these items in your budget right off the bat, since you may want to be able to ask your friends and family for help again if you move in the future.

  • Ask around for unwanted packing supplies

It’s almost difficult to not know someone who has recently moved and has some packing supplies like spare boxes they are trying to get rid of. Put out a social media ask and see which of your friends has some boxes you can use. Alternatively, you can save your Amazon boxes or even check out a recycling bin for some free, spare packing materials.

  • Use a pickup truck if moving locally

If you’re not moving far, consider going back and forth with your items in a pickup truck. If you already own one, this is a great way to save. If you have to rent, the Uhaul pickup option usually starts at $19.95, making it cheaper than loading up a truck—though you may end up spending the difference on gas. Additionally, you can risk being that annoying friend and ask someone who owns a pickup truck for assistance.

Whether you are going far or just down the block, you want to be prepared with a budget since moving expenses can build up fast and surprise you. Be sure to consider when and where you’re moving, the size of your home, and what kind of moving services you want when creating your budget, and remember to budget yourself some self-care when it’s all over so you can relax and enjoy your new space.

For more information on property management and real estate investment, contact 208.properties today.

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