Calculate your budget for moving

Calculate your budget

Relocation projects usually cost more than you think. But consider all the variables, and will learn about the true cost of your move. Different relocations mean different costs. Relocation can cost you somewhere between $500 or $5000, and in some cases – even more. All prices depend on the difficulty of the relocation. That is why you need to calculate your budget. When you start calculating your budget be aware of these:

  • Are you going to move on your own or you are going to hire a moving company?
  • Expenses of packing supplies
  • Needing some extra space (storage)
  • Additional costs

You will need to prepare your finances in advance because if you don’t it could cause big expenses that you cannot handle. Some small and cheap tasks can easily turn into huge costs. As you probably know it’s really important to set your budget before you do anything else.

Try to create a moving budget plan, that you can easily make it in the Excel. It could be helpful with expenses calculation. Or if you are not the fan of the computer, you can always calculate your budget, using the old-fashioned notebook, pen, and calculator.

Calculate your budget - a notebook.
Prepare your budget for moving.

Moving on your own vs. hiring a professional moving company

Start on time with the organization. You should keep in mind that relocation can be long, and you need to make a plan a couple of months earlier. The plan also depends on what type of relocation it is. If you are moving with your family, you should activate them and include them every step of the way.  This way, it will be a lot easier for you to organize things. But, if you are planning on moving long distance – looking for a mover is always a better option.

When it comes to hiring a moving company do the research on the internet and find out which company is the most affordable for you. Once you define a price of moving you can focus on other things like packing and preparation for relocation day.

Moving on your own

Calculate your budget. Some expenses are:

  • Renting a truck – to remove your belongings. The price depends on the size of the truck. Don’t forget money for gas. 
  •  Mileage on the rental truck – It’s typically 40-cents per mile, but have in mind that some companies only rent trucks for local moves.
  • Equipment for moving – you will need to rent stuff like a dolly, mattress, furniture covers, and add those expenses to your moving budget.
  • Extra money – it’s always a good thing having some extra money, just in case something happens.
Are you about to rent a moving truck?

Hiring a moving company

Expenses will be the major base on your moving budget if you are hiring a moving company. You can call several different moving companies, and compare the prices. Comparing them, you will find the one that is best for you, and then add the amount to your moving budget plan. To calculate your budget, you should be aware of these:

  • Moving company fee
  • Extra services from moving companies
  • Additional insurance for very valuable items
  • Extra charges that are not calculated in their fee
  • Costs of additional services

You should keep in mind that every type of move has different costs. The price of the local move will always be lower than the costs of international relocation. Also, calculate the travel expenses into your moving budget. Whether you are traveling by plane, car, train, bus, add to budget the price of tickets and just in case have extra money.

When you get the amount of the total costs, multiply it by 5%. This is necessary in order to have an extra budget in case of some relocation problem. By adding this 5 % to the subtotal, you will get your total moving cost. And you don’t have to worry, the professionals will do the heavy lifting for you, and make sure that your belongings arrive safely into your new home.

Packing expenses and storage fees

In case, the packing supplies are the responsibility of the professional packers and are part of their fee. When you are packing on your own, you need to purchase or rent packing supplies. Some of the materials are:

  • Bowes of all shapes and sizes
  • Duck tape
  • Markers an labels
  • Packing paper
  • Dolly
  • Padding, moving blankets, wrappers
  • Packing material

Put your moving items into categories. Separate the boxes and mark them with something specific or you can write the name of the main thing which is inside the box. And, this way you can exactly tell the moving company which stuff load first inside the moving truck. When it happens that you need some more storage space, you should rent a storage unit. Depends on the situation, it can be a long or short term. Storage costs include the cost of renting the storage, transportation of your belongings, and additional storage costs.

Calculate your budget
Make a plan and calculate your budget on time.

Costs of moving – calculate your budget in advance

The costs of hiring a moving company will depend on the type of move. Local relocation is differently calculated than long distance move. Take the example, moving from the USA to Canada will be much higher, than moving to the neighborhood in the same city. The cost for a local mover runs between $300 to $600 and the cost for a long-distance mover is usually between $4,000 to $7,000.

The price is different from company to company. Pick the moving company that it is the most profitable for you. Also, you will need the safe place to store your things if you don’t have enough space for your stuff. Renting the storage unit isn’t cheap and it will have a big impact on the true cost of quality relocation. The best way to minimalize your expenses is to hire a reliable moving company.

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