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How much should I budget for moving expenses?

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Asked by James

January 4, 2021 under Others

We will explore various moving expenses that you may consider in your moving budget.

Answered by Staff Writer

January 12, 2022

average moving expensesWe often fail to accurately calculate our moving budget as we might not be aware of all types of moving expenses that can occur while we relocate. This may make our life stressful as we might fear falling short of cash at the last moment. It is important to devote some time to making a customized moving budget. This will give you an idea of how much you might need to spend.

Moving costs for hiring professional movers or a DIY move

Hiring professional moving companies will make your move easy and stress-free, but it will come with a cost. We have created a list of moving expenses that you shouldn't ignore in your relocation budget.

  • Base moving fare- The moving company you hire will give you a quote including their labor cost as well as fuel charges. The final cost will be based on how many items you need to move and what duration the movers might take to move them.
  • Insurance- Moving companies will offer valuation coverage, as per which they will compensate the liability amount if your items get damaged or lost in transit. Valuation is not moving insurance, so if you are looking for additional protection consider buying insurance.
  • Voluntary Charges- If you want more than basic services from a moving company, you need to include these additional charges in your moving budget. For example, you may ask the movers to pack or prepare your appliances for the move.

Tip: You may check the moving expenses for hiring professional movers, to get an idea of the moving insurance if you want to enjoy extra protection.

Though a DIY move is cheaper than hiring movers, there are a few expenses that you need to include in your budget.

  • Moving truck- You can move a lot of items in the 22' and 26' moving trucks. They're designed to move entire homes' worth of possessions. Also, a few moving truck rental companies might have a limit of how much gas the truck should have, while you return it to the company.
  • Equipment charges- You will need to rent any equipment you use. Moving blankets and dollies are a few such types of equipment that you might need to make your move easy.

Some more possible moving day expenses for additional services

  • Auto-transportation- If you are making an interstate move, you might want to ship your vehicle to your new destination along with your items. In such cases, it will be worth hiring a certified auto transportation company, which will be comparatively cheaper than the movers loading it into the moving truck.
  • Individual transportation cost- You might need to pay a minimal amount if you are moving near to your house. But you might need to pay the gas fare if you are traveling to a faraway location. Also, if you are driving the cargo van with your belongings, you may not have to include these moving expenses.
  • Many-days moving expenses- You might need to include the accommodation and food charges if you need more than one day to complete your move.

Packing Supplies

It’s a difficult job to estimate how much packing supplies you would need to complete a move. Below, we have listed six common packing resources which you shouldn’t ignore while making your budget.

  1. Packing tapes
  2. Stretch wrap
  3. Moving boxes
  4. Packing paper
  5. Markers or labels
  6. Packing wraps

You will have to pay something between $1.67 to $1.99, if you buy big moving boxes from U-Haul.

Tips to reduce packing costs

  • You can easily borrow free moving boxes from friends and relatives or even stores to save money.
  • Try to use towels, linens, or clothing, instead of bubble wraps or packing paper to give padding to the boxes.

Settle in costs

While making your moving budget, don't forget that you need to make your new house ready to settle in. So, it's a good decision to include it in your budget, or later you will not understand where to fulfil those needs.

There are a few utility service providers who might charge you for setting up their service at your new address. For example, gas, electricity, or internet service provider may cost you anywhere between $10 and up.

These might not be the only moving expenses that you would come across, but there would be others as well. We recommend you plan your move properly, list the various possible moving expenses and think of ways in which you can reduce these expenses. Don't rely on a single company but take the quotes from a few before you make your decision.

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