How to Budget for a Move

Written by Posted On Friday, 05 October 2018 07:30

Budgeting for a move isn’t always easy. According to the American Moving & Storage Association, the average move costs almost $1,200 – if you’re moving within your home state. Moving out of the state? That average increases to over $5,600.

Keeping that budget in mind, you may think it’s reasonable to set aside, say, $2,000 for an intrastate move, or $6k for an interstate. But there are hidden costs of moving – most you may not have even considered.

1. Hotel Stays

Hotel stays are one of the biggest hidden costs of moving. Let’s face it – things happen. If, for some reason, your moving truck is delayed, or if your furniture is damaged, you’ll need to book a hotel stay for a night or more. That is, unless you’re okay with roughing it on the floor of your new, empty house!

2. Replacing Household Essentials

There’s a good chance you’ve weeded out all your unused items before a move. These are things you haven’t used in years, like that treadmill-slash-clothes hangers. Those items won’t need replacement, but what about your toilet brush? Your trash cans? Perishable foods and even pet toys? Chalk them up to the hidden costs of moving.

3. Losing Your Security Deposit

If you’ve just purchased your first home, you’re probably excited to get out of your rental. In the excitement, you forgot to paint the walls back to the original white, or maybe your movers weren’t too careful and caused some damage. If this happens, you can usually resolve the issue via your family law lawyer  but either way, it’s a additional cost.

4. Buying New Furniture

The futon you’ve been using as a couch in your apartment doesn’t fit in too well with the Arts and Crafts home you just bought. You’ll need to replace some, if not most, of your furniture. The cost of furniture can be offset by selling your old pieces, but new furnishings will inevitably cost more than you’ll earn in the sale.

5. Utilities Set Up

If you’re moving within the local area, setting up your internet, phone, water and electricity may be as simple as making a phone call. But if you’re moving to a new provider area, you’ll have to factor utilities startup costs into the cost of your move. Even with perfect credit, most water ad electric companies require a deposit. Additionally, consider modem costs and other incidentals.

6. Taking Time Off Work

This won’t apply to everyone, but if you choose to take time off work to move, don’t forget to factor your lost wages (or vacation pay) into the total cost of your move.

7. The Cost of Hiring a Mover

Of course, you know how much your mover costs, as you called ahead and got an estimate. But what about insurance for the move? Replacing items which are damaged? And don’t forget about tipping your mover. (Yes, you should!) There are also stair fees, overnight fees and more that can add up.

Be Prepared

While the average cost of a move can be as high as $6,000, be sure you remember to consider the immediate and long-term costs. Before you move, decide what money will need to be spent immediately and what you can put off. After all, you need to stay the night in a hotel, but you may be able to delay replacing your couch for a while.

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