How to Plan and Budget Your Moving Expenses?
03.11.2020 WELLNESS 0.0 0

moving home


Moving a home or office to a new location can involve substantial expenses that you need to plan so that the entire process goes smoothly. Make a proper budget by listing out the various heads of expenses and using computer software like data sheets that will always keep things up to date, even when you make any changes.

Start with deciding on the items that you need to carry with you to your new location. Go through all our belongings, and keep aside things that you have not used for a year or two, and may not really need. You can dispose of the extra things, which can even help you meet a part of your moving expenses. You also need to have firm arrangements in place at the town or place you are moving to, to have a definite address to move to. It cannot harm to visit the new city and become familiar with it so that moving there is not strange. Consider this as part of your moving expenses and budget for it accordingly.

If you plan to move from one state to another and have decided to hire professional movers in USA, you can call in some of the better-known movers in USA to inspect your home. Choose moving companies that have representation in both places, so that there is better coordination. Ask for firm quotations to help you to decide the best moving company.

Ask the firms to quote also for insurance as this needs to be part of your moving expenses. You need to arrange insurance for your goods, even if you are not using a professional mover, and handling everything on your own. Place a proper value on your items so that you get a realistic figure. If you take replacement values, these costs will be much higher. Certain items that you need to move can require special packing and shifting, and these must be taken into consideration for the increased costs of such moving.

The distance you need to move to may often require you to pay extra charges, like long carry charges, tolls, and other service charges, and these need to be separately listed in your budget for moving expenses. Always plan for contingencies and add 5% to any costs indicated by the movers to take care of these contingencies.

If you plan to move on your own, your budget would be different, and will have to take in the costs for renting a truck and paying them for the time and mileage that you need to be covered for your move. Rates can vary as per the size, and you need to have a clear idea of the volume of goods you want to be moved. You may also need to rent other equipment for lifting and shifting, that you also need to budget for. Here again, plan for some contingency expenses. 

Packing on your own will require you to arrange for boxes and packing materials like bubble wrap or padding, as well as proper sealing tape, tags, and labels. You will also have to budget for the disposal of these things after you have arrived at your new home and unpacked. Part of moving expenses can also include the cost of tickets for reaching the new place for your family and all its members. If pets are a part of your household, moving them can require special arrangements that you must budget for. If you plan to drive down to your new location, you may need to factor in the cost of meals during stops, or even hotel expenses for an overnight stay, when you need to travel long distances. 

Giving over your existing lease and the costs of a new one at the place you are moving to can also be considered as part of moving expenses and budget. If at any stage, you need to store your belongings before you move or after they reach the new town where you are planning to relocate, these storage costs can add to your moving expenses. Buying a new home or selling your old home can also bring in their share of expenses, and you can make them part of your budget for moving expenses. Shifting into a new home can, at times, require some changes to be made in it to suit your lifestyle and can be added to the budget. 

This list is quite comprehensive and helps you estimate the possible costs of moving to a new place. Remember the contingency buffer and make provision for it. Arrange all the finance before you schedule your move and take any further action.


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TAGS:moving home, financial wellness, lifehack

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