Essential Guide to Create a Budget for Your Move

Guide to Create a Budget for Your Move

Moving can be a stressful and expensive process, so it is especially helpful to be as prepared as possible before embarking on this extensive undertaking.  One way to do this is to create a budget ahead of time, so you can account for all expenses, and not be surprised by the cost when it comes time to make the move.  There are three main categories of expenses you will encounter for most moves; costs before the move, costs during the move, and costs after the move.  It is important to take into account each kind to come up with a comprehensive budget that encompasses all.

Costs before the move can include last month’s rent or final utility bills, early lease termination fees, and any incidental repair costs for your old home.  You will probably also want to factor in packing supplies, such as boxes, a handcart, or even preassembled moving kits.

Moving Budget and Expenses

Expenses during the move will probably be the largest you incur of the three divisions.  More than likely the highest amount you will be faced with is the cost of movers, and whether or not it is beneficial to hire professionals.  It is wise to obtain multiple quotes for this before making your decision, as you will want to make sure you find the best deal.  You may also need to include mover’s insurance, and possibly a tip for the movers, depending on your preference.  Another option would be to rent a moving truck or van and do most of the heavy lifting yourself.  You would still want to take into account the cost of the rental, the price of gas, and the need to purchase or rent additional tools, such as a loading ramp if you choose this route.  If you are flying to your final destination, factor in the cost of an airline ticket, as well as transportation to/from the airport.  Finally, another “during the move” expense would be the cost to transport your vehicle with a reputable auto shipping company if you will not be driving it yourself.

Finally, costs after the move will include all of those associated with your new home, such as rent, security deposits, parking permits, and utility costs/deposits.  You will also want to factor in the cost of meals (take-out or otherwise) as you get situated, in addition to your first grocery trip at your new location.  Oftentimes, people plan on making large purchases, such as new furniture or appliances, upon arriving, so take all of those expenditures into account as well.

After you have totaled up all of the easily predicted costs associated with moving, you will want to add an additional 10% which can comfortably cushion your budget to prepare you for unexpected expenses.  Armed with this number, you will now have a ballpark figure to shoot for when preparing and beginning the moving process.  The more information you have prior to your move, the better equipped you will be in the case of unforeseen obstacles during the move itself.

 

Image Courtesy: FreeDigitalPhotos.net / Stuart Miles