Moving Budget | HotPads

Moving Budget

By Staff

Moving often involves various out-of-pocket expenses, some of which you can anticipate and others that may surprise you. Because of the expense of moving - and because it involves a lot of different expenses -- it's important that you put some time into planning for your move so you can stay in control of your budget. We have included some of the things that you should consider when you are creating a budget for your move.

Let's get started...

Even before we get to the costs of moving your household goods, you need to consider the fixed costs associated with leaving your old residence, such as closing expenses or lease termination, final utility bills, and other costs that you cannot avoid. This is a good starting point for planning your entire relocation budget.

Next, select how you plan to move your goods - will you hire a moving company or rent all the equipment yourself?

If you choose to hire a mover, check out three or four professional moving companies. This exercise will give you a good sense of the actual moving costs for your situation and let you really compare the costs and trade-offs of different levels of service and different types of companies. Additionally, by getting multiple moving quotes, you should have more bargaining power when you are making your final choice.

Depending on your budget, you may want to choose a certain level of packing services. The mover can give you several options -- they can do a full pack, partial pack, or just provide packing material. When getting the estimate for your move, be sure to research all of your options with the mover. Can't pack everything? Remember to budget for storage facilities. While the costs of packing will be obvious if you hire a moving company, don't forget to budget for the cost of packing materials if you are planning to do it yourself. Tally up the cost of boxes, tape and bubble wrap.

Once you're packed up and the items are on the moving van, how much will it cost you to get to your new place? If you will be moving long-distance, budget an estimated cost for fuel and lodging along the way. Also, will you have any child or pet care expenses? Be sure to factor all of this in.

Next up: Is there anything you want to have done at your new place before you get there? Consider the cost of hiring a professional cleaning crew. Also, does your budget allow you to undertake any home improvement projects that will be easier to do before you've moved in, such as painting, carpet cleaning or refurbishing hardwood flooring?

Finally, what utility costs will you face at your new place? How much will having your Internet hooked up cost? Be sure to account for all these startup expenses. Wait, we said finally, but there's actually one more thing: add 10%. Things always come up, so give yourself peace of mind by adding a cushion to your budget -if you budgeted properly, you most likely won't even need to touch it.

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