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Moving costs can add up fast, and an accurate budget is a good way to eliminate any financial stress before the move. If you find that you don’t have enough money to make the move, you may need to rethink your plans or cut back on expenses. On the other hand, if you’ve left some room in your budget, there are many ways to save money and utilize it in a better way for the upcoming move.
A. Moving On Your Own: $3,000 to $5,000
The money you need for moving on your own is dependent on the cost of living in the area where you’re moving. Typically, you’ll need enough money to cover the costs of moving, as well as rent or mortgage, and related fees and deposits. To determine how much money you need, consider your current monthly expenses, including rent or mortgage payments, debt payments, and groceries.
It’s a good idea to save up money for your moving expenses. This is especially important if you’re on a tight budget. Unexpected expenses can happen, such as car problems or medical expenses, so you should be prepared and have something saved for the rainy day.
Fortunately, there are many ways to save money on moving expenses. For example, if you don’t have much stuff to move, you may want to think about using the packing materials that you already have. Alternatively, you can try dollar stores for packing boxes and tape. This way, you can save much on moving supplies.
Another way to save money on moving expenses is to sell any unused or unsold furniture or items that won’t fit. You can also try to replace old and bulky appliances with new ones to save space. If possible, try to move during the week instead of on weekends. This will save you money on labor costs and help you save energy as well. Moving during the week means you can save up to 20 percent on your moving costs. Alternatively, you can schedule your move for mid-week or end-of-month to avoid paying premium moving costs.
On the other hand, if you don’t have enough money to cover your moving expenses, consider getting a personal installment loan. These loans can help you move with the funds you need quickly. Just make sure to do your research and find a reliable lender. There are several options out there, so make sure to pick the right one for your needs.
B. Hiring a Moving Company: $7,000 – $10,000
If you’re planning on moving, you’ll need to hire a moving company. You can find one by using a moving cost calculator and narrowing down your choices by asking different movers to quote you for the services you need. You can also ask for references and a consultation.
The amount of money you’ll pay will depend on the size of your move, how much you’re willing to spend, and your own physical capabilities. Hiring a moving company can help you save a lot of time, money, and stress. The moving company you choose will also provide you with a bill of lading, which is a contract between you and them.
C. Additional Costs to Consider
There are many additional costs to consider before moving into a new home. These expenses can range from minor to major costs. For example, you may have to pay for a locksmith or new paint. You may also need to purchase a home warranty (covering repairs and replacements) or basic household supplies. Even if you are moving locally, you may need to pay to hook up and avail of utilities.
The size of your new home will also affect the amount you need to spend on additional expenses. Think about the space that you have and the amount of space you’ll need. Will you need more furniture to fill the space, or will you need to take extra care of your new home in terms of cleaning, repairing, and maintenance? What’s more, is it affordable to move into a larger or smaller home?
In addition to these extra costs, you will also have to pay for cleaning supplies and services. This can be a significant expense, so it’s a good idea to start planning ahead of time. You should also make a budget for these expenses. You may have to borrow some money to pay for the costs of moving into a new home.
Another cost to consider before moving is the cost of a truck rental. The cost of a truck depends on the size and distance of your move. You’ll also need to think about how much gas you’ll need to move your items, including furniture, appliances, clothes, books, bedding, etc. A good resource is AAA’s fuel calculator.
The Bottom Line
Moving is an expensive endeavor, so saving money on moving expenses is crucial. It’s important to research the costs involved in your move and get price quotes from various companies.
Moving expenses can add up quickly, so you have to be careful and plan ahead. There are several ways to cut back on expenses and keep moving affordable. One way to do this is by hiring local movers who will not only handle all the heavy lifting for you but will also help you to keep moving costs under control.
With Safebound Moving & Storage, you can make moving less stressful and tackle moving expenses more efficiently. Drop us a line today for a free quote or speak to our moving specialists.