7 Tips for Creating Your Moving Budget

Creating a moving budgetAs your excitement for a forthcoming relocation grows, so does your stress level. Moving is complicated, especially when there are many different services to hire and deposits to pay. This is the last project you’ll have to complete successfully before you finally move into your new home. One of the best things you can do to alleviate tension and focus on the excitement of a new home is to plan your budget for your relocation properly. By setting out your moving budget, you can establish realistic cost estimates and plan everyone you need to hire before the big day. You’ll avoid many issues along the way, and your move will be trouble-free. So, here are the seven tips for creating your moving budget like a pro.

Take the inventory of your belongings

There are a lot of things you should take into account when setting up a budget. Before you begin interviewing local moving businesses, you must determine how many belongings you need to relocate. Therefore, list everything that will be traveling to your new house. We recommend beginning with the things that are larger and quickest to count, like furniture, appliances, and bedding.

You don’t have to take an exact count of each belonging for smaller objects like books, clothing, and kitchenware. However, doing so may be helpful for other reasons, such as insurance claims. It’s critical to estimate the number of boxes and the total weight of the products because the moving company will use them to determine your pricing estimate. Therefore, this should be your first step in creating your moving budget.

Save the date and start booking

The sooner you know when you’re relocating, the sooner you can begin scheduling the services you’ll need. Booking services in advance will save you a lot of money. You’ll avoid the surcharge for booking on short notice and unnecessarily breaking the bank.

There’s a lot to think about when deciding on a moving date. The most critical factors you’ll have to consider are lease or sale terms and your work calendar. Therefore, don’t overlook them when creating your moving budget. Otherwise, you’ll end up with surprise expenses on your shoulders.

Furthermore, the time of year you move will also affect the cost of your relocation. So if you have any wiggle room, remember that winter is often the least expensive season for relocating.

Do your research on moving services

Thorough research is necessary to understand the costs you’ll have to budget throughout your move. In addition, this will help you get the best possible price for all the services you require. For example, if you’re moving across town, it’s useful to know that the average cost to employ local movers is $1,400. However, if you’re moving across the country, you should budget between $2,600 and $6,570.

After establishing realistic expectations, it’s time to look into the exact services you’ll need. For example, you should request bids from movers or truck rental services. This is the proper way to find the right team of long-distance movers in Albuquerque or elsewhere in the US.

Furthermore, establish if any special possessions, such as your baby grand piano or pool table, will require additional handling costs. If you need to store anything, consider the prices given by local storage facilities and consider portable storage containers.

When you establish which services are best for you, you start hiring the specific companies. Maybe you’ll spend a little more time on this research, but it will help you with budgeting.

Create a list of your expenses

After gathering your information, make a draft of your budget outlining all of your expenses and their associated charges. We suggest making a simple table or spreadsheet with one column for each expense category and another for pricing information or detailed estimations. This is a great way to easily see a list of all the charges you will incur during the relocation procedure. Make sure to have this list on you at all times since you’ll have to compare these estimated costs with the real ones constantly. In addition, making this list is a great way to avoid debt and stress altogether.

Make room for hidden costs in your moving budget

There will be many hidden charges connected with relocating, whether you’re moving by yourself or hiring professional movers. Therefore, incorporate them into your moving budget, so you aren’t taken off guard when it comes time to pay. Here are some typical hidden costs you need to budget in:

  • Packing & unpacking. You’ll pay extra than the regular fee if you want the movers to pack your belongings from your old house and unpack them in your new one. You may need to hire a local packing and unpacking agency.
  • Tipping. Professional movers expect a tip for their services. Plan to tip each mover $4 to $10 per hour, or 10% to 20% of the overall expenditure.
  • Pet or childcare. If you have pets or small children, you’ll need to spend extra time and money for the services required to keep them safe and entertained while you’re relocating.
  • Furniture assembly. Many major furniture pieces must be dismantled and reassembled during a relocation. If you do not intend to do this yourself, you must employ a local furniture assembler. Expect to pay between $120 and $180 for each item.
  • Cleaning. Depending on the terms of your lease or sale agreement, you may be required to engage professional house cleaners to ensure that your old property is spotless for new occupants.

Don’t overlook travel expenses

If you’re relocating a long distance or over many days, you’ll incur additional transportation and temporary accommodation fees. Once you’ve made your arrangements for overnight accommodations, factor in those costs when creating your moving budget.

Don’t forget to include additional expenditures that would rise as a result of the relocation, such as your food and gas budget. Set up money for many gas stops and food breaks, which may increase over several travel days.

Be sure have an emergency fund in your budget

Little surprises abound in life, especially during the complicated process of relocating. No matter how meticulously you plan and budget, you will almost certainly encounter a slew of unexpected costs on your way to your new house. Anything from a car breakdown to a moving truck delay might derail your well-planned budget. So, if you are in a financial position to do so, make your budget bulletproof by putting money aside for emergencies.

Conclusions for your moving budget

And there you have it – seven tips for creating your moving budget. As you can see, it’s all about planning and considering all the factors, big and small. In addition, a big part of budgeting is leaving some cash aside for hidden costs and emergencies. No matter how strong your budget plan is, you never know what could happen along the way. However, if you expect the unexpected, your finances won’t suffer. Therefore, be prepared for anything and have a smooth relocation!