The process of moving to a new home is just a lot to deal with. When you add in the cost of that move, it's no wonder why many people say moving is the most stressful thing they've ever experienced.1
Whether you're moving across town or the world, the numbers can add up quickly. There are packing supplies, fuel costs, paying for movers or a rental vehicle, and the risk of having to replace broken items. And even if you're DIY-ing with friends, someone has to spring for the pizza and beer. (Spoiler alert: It's you.)
But there's one important tool that can help you track and manage these costs: a well-planned moving budget. Here are some steps to get you there.
You won't know how much that pizza will cost until you choose your size and toppings. Similarly, you can't price out your move until you've outlined all the relevant factors. So get out a notebook (real or virtual) and list the following:
- The scope of your move (local, long distance or international) and the distance your stuff will travel
- How many of your belongings you're planning to bring, and how much stuff you have
- The details of your current and future homes: size, number of floors and how close they are to the street
- Your ideal moving scenario (DIY, full-service or a combination)
- Timing: How quickly do you want your goods moved, and how flexible are you on dates?
- Any special requirements, such as hiring packers or unpackers, transporting a vehicle or booking storage
You'll need all of this information when you start asking for quotes.
Now that you've gathered the relevant information, you can start shopping around. If you plan to DIY, figure out how much a rental vehicle will cost, whether it's a van for shuttling things around town or a trailer for a move to a new state. Otherwise, contact moving companies to start getting quotes. It's a good idea to get quotes from multiple moving companies to see how prices and offerings compare.
Movers are experienced at pricing out the cost of your move. But they can't price what they don't know, so be sure to give them all the relevant information. Some companies might ask to visit your house (either in person or virtually) to assess the volume and weight of your belongings, or they might ask you to fill out a form. The more details you provide, the more accurate their quote can be. For instance, if you're moving a fragile item such as a glass table, they might suggest crating it first—for an extra fee.
When speaking with movers, there are a few important questions to ask:
- What insurance do you offer, how much does it cost, and how does it work?
- Does your pricing include packing materials such as moving blankets? If not, what additional costs might I expect?
- How do you handle delicate items?
- Are there any circumstances where the final cost might be higher than the quote? What would these circumstances be?
- Are your prices negotiable? Can you offer a better deal, or do you have special offers for off-peak moves or bundled moving packages?
You might also want to get a sense of the average cost per pound of moving things. This can be helpful when deciding whether to keep an item or get rid of it and replace it later.
Think about costs outside of movers, too. For example:
- Packing materials such as boxes and tape
- Cleaners for either your new home or your old one
- Your own transportation costs, including parking, fuel and tolls
- Meals and accommodations
- Child care and time off work
- A storage unit if required, and any associated costs such as locks
- Deposits and other fees connected with your new home, such as a damage deposit, HOA fees or utilities
With all the above information in hand, it's time to outline the details of your budget. A spreadsheet can be a handy way to do this. Download the Synchrony HOME moving budget template for a shortcut, or track costs in a notebook.
List each potential cost and its estimated dollar value. Consider adding a line for surprise expenses so you're prepared. Leave space to mark down the actual cost for each item once it's complete. Then, add up your estimated costs for your total moving budget. This is how much money you need for your ideal moving scenario.
Your ideal scenario doesn't have to be your only scenario. Moving is the perfect time to purge some stuff, and the bonus is that it will save you money, too. Start identifying items you want to get rid of, and decide whether you'll sell or donate them. If there are enough items, it might even be worth having a yard sale. Bonus: You can put any earnings from selling used goods into your moving budget to help offset costs.
Another way to lower the cost of your move is to reduce the scope—in other words, have less to pay for in the first place. For instance, you might choose to pack your own boxes rather than paying packers, or drive a trailer with your stuff rather than hiring movers. And maybe you can camp en route rather than staying at a hotel? For each of these, it's a question of weighing cost vs. convenience: Is it more important to you to lower your moving budget or to save yourself the hassle?
A budget is only useful if you use it. Make sure to review and adjust it as needed and track costs as they come in so you can keep your numbers up to date. And if you plan to stick to your budget like glue, then stick to it. Don't let yourself get distracted and buy unplanned items during your move.
Why is moving so stressful? One reason is the lack of control: preparing for the unexpected is hard.
Make things easier on yourself by setting up a moving budget and sticking to it. Moving might be full of surprises, but having a moving budget in place can help you manage the costs—and a smooth transition to your new home.
