How to Budget for Your Home Moving Costs

moving-budgetWhether it is your first time moving, or your tenth time, whether you are moving close or far away, moving can be expensive. To prepare, you will want to budget for your home moving costs before packing up. To successfully create a budget for home moving costs, follow the tips below.

  1. Know your monthly income: Before starting your budget you need to have a solid understanding of how much money you make. By calculating your monthly income, you can create a realistic budget that will allow you to comfortably pay for the moving costs and your current monthly expenses without leaving you in debt.
  2. Create a list of expenses: Begin your budget by considering the obvious and large expenses, such as the moving or rental truck company, the cost of packing materials, the travel costs to get to your new home, storage costs and moving insurance. Once you have calculated these costs, consider the smaller more variable costs such as cleaning up your new home once you arrive, small DIY projects, the replacement of broken or missing items etc. The more items you can account for, the more realistic your budget will be. Additionally, tack on 5% at the end for any variable costs you may have missed.
  3. Consider where and when you will be moving: If you are moving across the country or to a new city, you will need to account for staying in hotels, paying for gas and food, or any other expenses you might incur along the way. A great site that can help you calculate your fuel costs for the move is GasBuddy.com.
  4. How are you planning on moving? If you are choosing to move on your own, rent a truck or hire a moving company, your home moving costs will change dramatically. Hiring a moving company may seem more expensive, but working with a moving company, means your items will arrive safely and in one trip. We can even coordinate the packing and storage of your items.
  5. What will you have to buy when you get to your new home? If you are moving out of the country or to a new city, chances are, you will not want to transport every item. It may be cheaper to purchase new items once you arrive. If this is the case, include these items in your budget to make it more accurate.

Home moving costs can add up quickly, so preparing a budget beforehand can help you make more cost effective decisions and not leave money in your pocket when you move into your new home. McWilliams Move in Hand relocation app can help you estimate your moving costs and create a budget. Download our app today or call us for more information about how we can help you move.

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