The time has finally come. You and your family are ready to make the big move and need to start planning out logistics. According to Forbes, the average cost of moving under 100 miles sits between $800 to $2,150. If you are moving further, you can expect to pay between $2,200 and $5,700. A move is a big step, and it can take a lot of organizational skills and precise planning to ensure you are navigating the move properly. It doesn’t matter how near or far you are traveling, there are always moving parts that you need to keep track of, especially when it comes to the financial side of it all.
Whether you are moving just around the corner to another neighborhood or you’re taking on a cross-country move, consider these financial tips to ensure you are handling your moving expenses flawlessly.
Evaluate Your Current Financial Standing
Before you can determine how you are going to finance your move, you need to have a deep understanding of your personal circumstances and finances. Keep in mind that what is right for someone else does not automatically make it right for you.
The first thing you’ll want to consider when figuring out moving expenses is your current financial standing. Think about how much you have in your bank account(s), your credit limits, student loans, monthly service fees, and other recurrent bills. Think about your current income and identify how you are going to factor moving payments into all of that. Evaluating your current financial situation is crucial. You’ll want to make sure that even with a move in the mix you’ll be able to make monthly payments and pay off other expenses when they arise.
Having all of this figured out will give you an idea of how much you can allocate for your move. Getting your finances in order before you move is a great way to hold yourself accountable and stay on track.
Once you have your current finances in order, you should figure out your spending limit and do some research. You’ll want to identify how you are financing your move, pre-moving costs, costs associated with the move itself, and potential outside factors like seasonality or weather considerations that may affect the cost of your move. Research is a great way to get an idea of how much you may potentially spend.
During this phase, get organized and gather current financial information and documentation and add it to a binder or folder. From there, make a list of all the items you’ll be spending money on during the moving process. You may also want to write down the payment methods you plan on using for each item or phase of the move.
A pro tip when tracking expenses: Utilize an excel spreadsheet, a notes app, or a budget tracking app. All are great ways to stay on top of your spending plan. Not only that, but you can check off each part when you have scheduled dates and times or payments.
Determine Pre-Moving Costs
Once you have figured out your financial standing and have a tentative spending plan in place, the next step is to determine pre-moving costs. If you are someone who hasn’t sold their house yet, you’ll want to make sure that you have plans set up around staging your home. Since you’ll be moving out of your house, there will be no furniture and it’ll just be empty. When you’re selling a house you want to help the potential buyer envision what it could look like. That’s why you may want to consider investing in a company or person who can help stage your home. Staging does cost money but it’s a benefit that could help close the sale on your home.
Other pre-moving costs you’ll want to consider are cleaning and repair services. You can either hire someone to do the fixing for you or take it on yourself. Whatever you choose, make sure you write down what you are spending and what is being fixed or updated, and note that the house was cleaned to help ensure that the new homeowners feel confident when moving into the space.
If you are someone who gets flustered or stressed thinking about staying organized when it comes to packing and unpacking, consider utilizing a service that can keep you on track and help lay out the steps you need to take when it comes to packing. Home organization services are a good investment especially if you aren’t skilled in that area. Using all the help you can get could help you feel more prepared for when the big day comes.
Plan Costs Associated With the Move Itself
After you’ve determined your pre-moving costs, it’s now time to figure out costs associated with the move itself. There are various factors that can affect the amount you have to pay for your move: the time of year, how much you have to transport, the distance you are moving, how many helpers you are hiring, labor costs, delivery fees, and post-move unpacking help. It is important to look into those categories when you are on the hunt for helpful moving services.
During this phase, you’ll also want to consider different items that you’ll need to purchase during your move. To stay organized and on track moneywise, it’s smart to gather price ranges and estimates for supplies such as boxes, tape, packing peanuts, and bubble wrap, along with moving companies, truck rentals, and storage units.
As mentioned before, research is key. When picking a moving service, look at all potential options. See if hiring movers is the direction that would work best for you, or if you should simply rent a moving truck and do the heavy lifting yourself. Research is a great way to ensure you are picking the right moving company or truck rental business for your mission. It’ll also help you decide what prices work best with your spending plan.
Some people even consider investing in storage units when moving. This allows for individuals to clear out their home of personal belongings while home showings are happening, lets them get ahead on packing and unpacking, and can help with staying organized.
Decide How You Are Financing Your Move
Now that you’ve evaluated your current financial standing and all the costs associated with a move, it’s a good idea to figure out how you are going to finance your move. This is another step that requires a good amount of research so that you can determine the best route for you and your personal needs.
Since moving can be expensive, it’s ideal to weigh your options and decide whether you should finance your move with a credit card or personal line of credit. Everyone’s moving situation and finances are different, so it’s wise to look into both options to see what works best for you. While you are researching, you may find that some moving companies offer installment plans, so consider looking into those as well. If you are an individual who is a big saver and wants to just use your savings, that’s a great option too.
Consider These Tips to Avoid Moving Mistakes
Once all the financial planning is said and done, it is good to reflect back on your plan to make sure you have everything squared away. If this is your first time moving, or if you have moved and it didn’t go as planned, consider the following to help ensure you have a smooth move:
- Research. Make sure that you are comparing mover rates and moving insurance quotes to ensure you are getting the best and most reliable deal. You should also look into all associated costs that you may not be at the top of your mind.
- Stay organized. Jot down all aspects of your move and the costs associated with it in a list, spreadsheet, or planner. Keep track of all necessary bills to help keep yourself on track.
- Don’t overpack. Overpacking boxes could damage items and boxes could break during the move if you aren’t careful.
- Label boxes. Make sure that all boxes and storage containers are labeled with the items they consist of. This can not only help you stay organized, but may also help you when you are unpacking.
Using this moving 101 guide can help you stay on track financially and feel more comfortable and confident before making your big move!
