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January 13, 2024

How to Budget for Moving Costs: A Practical Guide to Smooth Transitions

Moving can cost you a bundle, whether you hire professional movers or rent a truck and do it yourself. But that’s not all you need to budget for. There are several hidden costs that often take new homeowners by surprise once they move. The good news is that you can prepare for these expenses by knowing what to expect.

The size of your move is a major factor in the price of a relocation. Larger homes require more boxes and more labor, which drives up the price. Likewise, a shipment of oversized furniture requires specialized equipment and additional manpower to transport. Some companies also charge extra to haul items up and down stairs.

If you decide to do the packing yourself rather than hire a packer, plan on spending more on supplies like tape, bubble wrap, labels and protective blankets. You’ll also need a dolly and a rental truck or moving van. If you’re able to get free boxes from friends or your employer, you can save some money on packaging.

Depending on where you’re Move Costs, there may be local taxes or fees you need to pay. For example, if you’re going to another state, there may be registration and transfer fees for your vehicle that vary by state. You’ll also need to factor in travel costs if you’re making a long-distance move, such as airfare and hotels.

Once you’re ready to move, you’ll need to hook up utilities at your new home. This includes water, electricity, gas and internet service. It’s important to contact your new utility company to find out the cost of these services before you start moving, as they will likely need to send a technician to your house.

It’s a good idea to pad your moving budget by 10%-20% to account for unexpected expenses. This is especially true if you’re doing the heavy lifting and have to buy or rent a truck or storage container, purchase moving supplies, pay for cleaning services and/or enlist help from family and friends. You can also incur additional charges if you need to replace or repair items that are lost or damaged in transit.

Choosing a location with lower property tax rates can help reduce your overall moving costs. However, make sure you research the job market and economy in your new area to ensure it’s a good fit for your career goals. If you’re a homeowner, you’ll also need to factor in mortgage closing costs and homeowners insurance. And if you’re renting, you’ll need to budget for the security deposit, first month’s rent and other fees associated with moving into your new apartment or house.

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