How to make a budget for moving out?

It is definitely money that ranks first among all the stress factors typically associated with the process of moving house. Probably, this is because you have the power to control most of the other bothersome aspects of the relocation endeavor (you can choose your new neighborhood and your new home, you can hire the movers that best suit your relocation needs, you can pack your belongings as you like, oftentimes you can even decide on the moving date that is most convenient for you) but you can do little to find extra money to comfortably accommodate all the moving-related expenses. Your only option is to manage your available financial resources as prudently as possible and to take advantage of some effective cost-saving techniques. And while not all the ways to cut down the moving costs when moving may be applicable to your particular case, the most important of them will definitely work for you – making an efficient moving budget.

How will a moving budget help you move without financial problems?

Creating a moving budget is your first step on the path to a successful relocation experience. Your house moving budget will help you:

  • get an accurate idea of how much money you will need for every phase of the relocation process;
  • assess your financial situation and ascertain if your savings will be sufficient to cover all moving-related expenses;
  • determine what exactly you can afford in terms of housing options, moving services and post-relocation luxuries and what extras you should refrain from, however desirable they may be;
  • respond quickly and adequately whenever a moving task exceeds its set financial limit;
  • make contingency plans.

How to set a moving budget?

All you need to do is create a list of all the moving-related expenses and make the corresponding calculations against each entry. You can do it by hand or you can take advantage of modern technologies – spreadsheets in Excel or other suitable software programs, moving apps, especially designed to help you throughout all the phases of the complicated relocation process, etc. The important thing is to know what to budget for when moving out and how to estimate the cost of moving.

Moving company expenses

You are strongly advised to research all your moving options when planning your relocation in order to find reputable moving services at a reasonable price. Ask for recommendations, get free moving quotes, ask for in-house binding estimates, compare the received offers and make sure you are hiring licensed and insured professionals. Your main concern should be to avoid moving fraud as scam artists will drain your wallet regardless of how good a moving budget you have created. Provided that you have booked the services of a reputable moving company, however, you will have a clear idea of the final moving cost. It will be determined by the cost of:

  • adequate packing materials – you can get some moving boxes for free or substitute them for available household items, but you will need some specialty packing materials for your more delicate and valuable possessions;
  • the shipment of your household goods – your moving company will charge you based on the total weight of your goods, the distance to your final destination, the time required to complete the job and the complexity of the relocation procedures (special handling requirements, obstacles on the way out of your old property or into your new one, etc.);
  • any desired or necessitated extra services – you may have to pay a long-carry fee if you have failed to reserve a parking space in front of your residence, a fee for handling bulky items or disassembling your furniture if you can’t do it yourself, etc. Besides, you may need your items to be put in short-term storage (at your expense, of course), or to be picked up from several different places, or any other accessorial services your movers offer. Take all your needs and requirements into account when planning your moving budget;
  • appropriate insurance – the basic liability coverage comes for free, but you may need to provide additional insurance for your belongings in order to ensure your peace of mind.

DIY expenses

If you are considering a self-move, you need to provide for the truck rental (as well as for the fuel and the vehicle insurance, any necessary road tolls and parking fees, etc.) and to purchase or rent the required moving equipment (a dolly, furniture pads, moving straps, protective materials, etc.). Besides, you need to take into account all the hidden costs of moving out on your own and the various risks involved in the moving process (property damage, personal injury). Of course, you will also have to get hold of adequate packing supplies and to provide proper insurance for your possessions.

Travel expenses

If you are driving your own car, you will have to budget for fuel, vehicle insurance, road tolls, parking fees, and meals and lodgings on the way. If you are going to fly to your new home, you will need to arrange for the shipment of your car and to buy plane tickets, of course.

Post-relocation expenses

Your moving budget checklist should also include a number of urgent post-relocation tasks and the corresponding financial resources necessary to cover the incurred expenses – rent for the first month, as well as the required security deposit (or mortgage payments if you have bought the place), fees and deposits for reconnecting the utilities, charges for repair works or renovation projects (if applicable), cost of new furniture and appliances, paperwork (car registration, insurances, taxes, etc.), cleaning supplies, groceries and other everyday essentials.

Emergency expenses

You never know what might happen, but you are strongly advised to set up a contingency fund as well, just in case. Being prepared for possible contingency situations (natural disaster, car breakdown or accident, illness or injury, etc.) will allow you to put your mind at ease and will considerably reduce the moving stress associated with the fear of the unknown.

Being familiar with the all the things to budget for when moving out, you should be able to create an efficient financial plan for your relocation endeavor and to avoid costly moving mistakes. Just one final piece of advice – regardless of what the preliminary numbers are telling you, plan for a bigger house moving budget to ensure the favorable outcome of your moving adventure, whatever happens.

 

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