How much is it going to cost me? That’s the question on most people’s minds when they’re thinking about moving. And for a good reason: Nobody wants to move and then find out that all their hard work has been in vain because they didn’t have enough money. But how do you figure out your expenses ahead of time, especially if you don’t know where or what size house you want? The reality is that there are many factors involved in estimating moving costs especially when relocating on a budget, and it’s not just about numbers. It would help if you thought through every aspect of the move to make an informed decision as early as possible.
What are some considerations when calculating my moving costs?
The prominent place to start when calculating moving costs is how much you’re paying for rent. If your lease is up or the landlord has notified you that it’s time to move, then hopefully, this number won’t be too hard to estimate. Otherwise, think about your current monthly expenses and do some quick math using those numbers and a calculator that adds and multiplies to get a rough estimate of your monthly rental cost.
You’ll also need to factor in any home improvements that you’ve made, such as redoing the floors or installing new countertops. You don’t want to be surprised by a huge bill when you close on the house, and these things are bound to affect the price, so knowing what you have invested before you start will make the process a little easier.
You should also factor in moving costs and determine how much it will cost to transport all of your belongings when relocating on a budget. It may be hard to get an accurate number on this one – nobody wants to be surprised with a $10,000 moving bill – but be conservative and work backward from the cost of your new rental. Add in a few thousand dollars, and you’ll be much better off than if you underestimate this moving expense.
Finally, make sure to take into account any extra costs that may arise during the move. Many things can go wrong when you’re moving, especially if you’re doing it yourself, and you want to be prepared for the worst. Be sure to include a cushion of about $1,000-$2,500 for these potential disasters when figuring in your expenses so that you don’t get caught off guard with extra costs during the move.
How much will the truck cost?
Right off the bat, you need to know how much it will cost for a rental truck. The price of a moving truck will vary depending on your location and where you’re headed, but before you can estimate how much it will cost, think about what size vehicle you’ll need.
You could choose from one of the smaller 10′ x 10′ trucks or go with a larger 20′ x 8′ truck. Between the two, you’ll see a five-fold increase in price and space, which means that it will cost you more for gas to move the larger truck as well as more money to store it while you’re in your new home. Smaller trucks are more common in the United States, but Europe prefers the larger ones, so it’s a good idea to check with your shipping company if you’re moving internationally.
If you have a lot of furniture and want to use a professional mover, this will be another significant expense. However, most people find that they can move or hire someone to help them, making the whole process much cheaper when relocating on a budget. In this case, you should be looking at a few hundred dollars.
How much do I need to know for packing?
If you’re planning on moving yourself or have already hired someone, you need to calculate how many boxes of various sizes and materials you’re going to need. Boxes are another big expense when you’re moving, but there are ways to save on them.
You want to rent your boxes either by the piece (if you don’t have too many belongings) or by the case (if this is your first move). If possible, try to get recycled moving boxes that you can return at the end of the move – most movers will allow this. You’ll save money on moving boxes and also be able to reuse them for storage once you’ve moved in, so it’s a double-win situation.
If you’re moving locally, use whatever boxes are available or easily replaceable but if you’re moving long-distance, try to reuse boxes that you’ve used before to save on this moving expense
The cost of moving is never easy to estimate because it can vary depending on several factors. One thing that you should always do before you start packing up your belongings, though, is figuring out how much money you’ll need from one place to the next. Whether or not this will be an expensive move depends largely on what type of vehicle and help you choose to get there safely with all your stuff intact.
Looking at moving costs from the perspective of two different scenarios can help you see how much it will cost you. The first is a move within your town or city, which may not require any movers and could be done with a rental vehicle such as a truck or van. This type of move will cost the least amount of money but may not require much planning and could lead to some complications (such as not finding a vehicle that will fit all of your belongings).
The other scenario is the long-distance move, which will cost more because you’ll have to pay for movers or shipping company fees. Still, this type of move won’t be nearly as expensive as it would have been a decade ago with the advent of shipping competition and discounts that make it much more affordable than moving yourself.