The True cost of Relocating to Your New Home

aude-lozano-412970-unsplashWhether you’re moving to a new home or relocating to your dream house, you need to plan. Failing to prepare financially could end up draining your savings. The first step is to create a moving budget that includes all sorts of cost.So, how much money will you spend moving into your new home? Read on and learn more.

Cost of hiring professional movers

While hiring a moving company may seem expensive, it’s the least strenuous option. The movers will provide the cost of labor and fuel. To get a general idea of how much it’s going to cost you, contact three moving companies and select the best rate. One benefit of hiring a moving company is that they will take some liability if your belongings get lost or damaged.

• Cost of a local move (intrastate move)

This is moving within the same state. According to the American Moving and Storage Association, the average cost of moving is $400 for one bedroom apartment to $1050. A two-bedroom move will cost $375 to $750 for a distance of 1,000 miles. If you have fewer items, you’ll definitely save in labor costs. It’s worth mentioning that every state rules are different, so you may want to look at the state’s moving regulations.

• Interstate move

It involves moving from one state to another. The cost is $4,300 on an average weight of 7400 pounds for a distance of 1,225 miles. Your budget will be based on the weight of the shipment, labor cost, and the distance traveled.

How much stuff you have

Obviously, the final cost will depend on how much stuff you have. Professional movers will charge based on the size and weight of items. The more stuff you have, the more expensive your move will be.

The time of the year you move

Perhaps, this is the most important factor to consider. Summer is believed to be a high season for moving which means you’ll pay more when relocating. The peak season is from May to early September. This is the time when most families choose to move after schools close. Due to the high demand, the moving companies tend to increase the rates. Also, people tend to move over the weekends which can affect the price dramatically. If you want to save some cash, you may want to move Monday through Thursday – it’s usually more affordable.

Storage costs

As you move to your new home, you may need some time to factor where the furniture goes in or what to do with the items you can’t part with. Storage will give you enough time to decide. The average cost of an indoor storage unit is $40-$50 per month for 10 by 15 feet unit. And if you’re looking to store your items in a portable container the rates will run from $100 to $200 per month.

Final thoughts

There’s no doubt relocating to your new house can be nerve-racking. If you’re hiring a professional mover expect to pay up to $1000 for short distance move and $4300 for long distance move. Of course, this will depend on the weight of your belongings, labor costs, distance traveled, and additional services like storage and insurance. Some moving companies will offer a flat rate while others will give an hourly rate. Remember, all the above costs may not apply to you. Be sure to request a quote from the moving company.