We all know that the cost of moving can be extensive, which is why you might benefit from creating a moving budget. Failing to prepare can result in a hefty bill you weren’t expecting. That’s why we’ve created this guide, to help you wrap your head around what you can expect to spend money on before the moving process even begins.
The first step in setting a moving budget is creating a list of costs you should consider. The below costs might not necessarily apply to your situation, but hopefully, it will help you think about what you should factor in for your own move this year.
How To Create The Ultimate Moving Budget
It takes a little attention to detail and requires you to be proactive, but here’s our advice to help you create a moving budget that will help alleviate some of the stress that comes with the process.
Step 1: Take Inventory Of Your Things
Before you make any plans or put money into anything, start by taking an inventory of your things and decide what is actually going into the new home. Obviously, everyday items like clothes, furniture, kitchenware, and essentials will be on your inventory from the start. Still, it’s a good idea to go room by room to ensure you haven’t forgotten anything.
This might also be the time that you go through and donate items you’re sick of and make a list of new things you’ll likely want when you move. For example, sometimes a new home requires new furniture. Do the cleanup and donating part first before you make any other decisions.
Step 2: Do Research On Local Moving Components
Once you have a clear idea of what you’re taking with you to the new home will also help you decide what kind of movers you’ll need. Professional movers often require a list of your inventory anyways so that they can give you an estimate or quote. These estimates have several factors. Here’s what you can expect:
- A base moving fee — Many moving companies start with a base rate, which is the amount that all people have to pay regardless of how much stuff they have or where it’s being moved.
- Moving insurance — You will likely be offered something called valuation, which is insurance for your belongings. It provides compensation if the company damages or loses anything.
- Specialty item fees — Speciality items like safes, pianos, artwork, and more are often considered specialty items. Therefore, they can charge you an extra fee to move fragile or difficult items.
However, we know that not everyone wants to hire movers. In that case, there are fees you have to consider if you’re moving on your own:
- Moving truck rental — The cost of your moving truck will be determined by the size of your truck and how far you’ll be driving.
- Equipment — Moving boxes, blankets, packing tape, bubble wrap, and more, there is a lot to consider when packing up your things so that they get to their destination safely and securely.
Lastly, beyond the moving truck and moving items from one place to the next, you should also consider cleaning fees. Many people employ professional cleaning services to clean after they’ve moved. You should also consider when you should move, as you might be losing money if you’re moving in the middle of the week and missing work versus moving on the weekend.
Step 3: Remember The Costs When You Get To The New House
Though you might consider your budget spent once you get to the new house, we want to make sure we point out that once you arrive at your new home, there will be expenses to consider there as well.
First, you’ll likely have a few utility setup fees to get everything up and running. When moving in, many people want new items, including furniture and household items. Also, you might be upgrading and have an extra bathroom, which could require new things to fill the space.
Take a little bit of the pressure off when you set aside a little extra in your budget and make a list of items you’ll need right away vs. what can wait until later.
We hope that our list hasn’t been too overwhelming, but remember not all of these things will apply to you. So instead, use our list as a stepping stone so you can get a better overall sense of what you might have to spend money on. And remember the reward! A new house, a fresh start, and expenses you’ll likely forget about once you get settled in.
Having a moving budget can help you plan your move and give you peace of mind. However, we think you don’t have to put every extra penny into a savings account. Instead, make sure you leave room in your budget for a bit of breathing room. Moving is stressful, and you and the family might need a break or a distraction. Even if that just means getting out of the messy house and going out to eat, make sure you’re not being too stingy with the fun stuff while you’re in the process of moving to a new home. Do you need help with the buying or selling process? The agents at 41 Realty Group have all the tools and resources you need no matter where you are in your real estate journey. So give us a call today and let us answer your questions, give you advice, and assist however we can!