A household move involves a lot of hard work as well as expenses, but as long as you know how much you are allowed to spend on the relocation process and how to manage your finances, there shouldn’t be any major issues.
How to calculate your moving budget
A household move is never as cheap as we would like it to be and unless you keep track of your moving-related expenses, you may end up paying for some unsolicited and unexpected charges. It’s highly recommended to set a moving budget before you go about tackling other moving-related tasks. Only then you will know which moving services you can actually afford. The final cost depends on the amount of things that should be moved, the distance and the services you will be needing throughout the process.
Make sure to take the following suggestions into account when budgeting for your household move.
– Moving company fees and charges.
Contrary to popular belief, hiring a reputable moving company may save you a lot of money in the long run. When researching moving companies you should compare several moving quotes so as to ensure a safe choice. As it turns out, accepting the lowest quote is not the best idea, since an extremely low moving estimate is usually considered a warning sign of rogue movers.
– Additional insurance.
In case your homeowner’s insurance doesn’t provide sufficient coverage, consider purchasing an additional insurance, especially if you are moving a lot of valuable possessions.
– Maintenance and repair work costs.
Whether you are selling or renting out your old home, you will need to leave it in good condition. The same goes for the home you are about to move in. If some repair works are needed, make sure they are completed prior to the moving day.
– Travel arrangements.
If you are driving to your new home, fuel costs, taxes and tolls should be included in the moving expenses equation as well as personal costs.
– Temporary accommodation.
In case your new home is not ready for you to move in, you may be forced to stay at a hotel for a couple of nights, so make sure to take those expenses into account as well.
– DIY move expenses.
If you decide to perform a DIY move, there are different expenses that should be taken into account like truck rental, packing and moving supplies,…
– Mortgage payment, rent and security deposit.
Whether you are buying or renting a house, you should set aside certain amount of money for monthly expenses. Furthermore, landlords usually require security deposit in the amount of one monthly rent.
Unexpected moving costs
While researching moving companies and online reviews, you have probably read some horror stories about people who had terrible moving experience with fraudulent moving companies that were holding their customers’ belongings hostage until the requested amount of money was paid. Luckily, being aware of all those unfortunate cases, you will be able to avoid or handle them more efficiently.
– Moving companies may charge you additionally for:
- handling over-sized and bulky items
- long-carry fees
- storage services
- elevator fees
- express delivery fees
– Moving to a new home is a convenient opportunity to fix some outdated furniture and appliances or simply replace them with the new once. Also, some of your possessions may get damaged during the transport, so you will be forced to replace them once you settle into your new home.
– If your closing date is postponed for some reason, but you still need to move out, short-term storage and housing may be a good solution for your household possessions until everything’s ready for you to move into your new home.
– Setting up utilities also costs money and utility companies may also require a deposit, which is one of the moving costs people are likely to overlook or forget.
– Once you move in you will have to stock up on groceries, toiletries and cleaning supplies so as to have a proper fresh start.
How to move on a limited budget
A household move is never as cheap as we would like it to be.
If you decide to hire professional moving company to assist you with the relocation process, it’s highly recommended to request several on-site moving estimates so as to get a clear idea of approximate moving expenses. When considering moving companies always keep in mind that your main goal is not to hire the cheapest moving company, but to find a balance between reasonably priced and good quality services. Luckily, there are trustworthy and affordable movers in NYC that provide quality moving services – you just need to research them carefully.
– Pick a favorable moving date. Period between May and September is considered the high-season in moving industry. During the busiest period good movers are booked well in advance and even if you are able to hire them, probably you won’t get any discount. Therefore, if you can afford flexibility in your moving schedule, hire movers during the off season when you will be able to get a good bargain.
– Decide whether a DIY move is really a cheaper option in your situation. People are likely to assume that renting a moving truck and recruiting some friends and relatives is a perfect combination to get the job done in a cheap and efficient way. This assumption may apply to the local move, but it can be a bit risky when you are planning a long-distance move. Weigh your options carefully and decide which moving option meets your needs and requirements.
– Get free packing supplies. There’s no need for you to spend money on packing supplies when there are so many ways to get them for free. Local grocery stores, liquor stores, bookstores, restaurants may provide you with cardboard boxes that may be put to good use when moving house.
– Sort out your household belongings and move only what you need. The less items you move, the more you will save on your household move. Also, by holding a garage sale you can get rid of all unwanted and unnecessary items as well as earn some additional money.
– Cancel your utilities in advance, so that you don’t have to pay for an extra month after you move out.
– Know if you are able to claim moving costs on your tax return. Provided that you have been employed before the move and that you are relocating for a job you may be qualified for deduction of moving expenses.