Expenses to Consider When Moving Out: What to Budget For

Whether you are moving out for the first time or just moving along, this may be an exciting yet overwhelming time in your life. The secret to a successful move starts with budgeting. Without a proper understanding of what costs you should consider when moving out, you may be in for a shock in the form of potential unforeseen expenses that could stress your finances. To help you prepare, we have put together a comprehensive list of expenses one is supposed to budget for when planning a move.

1. Moving Supplies

Moving requires so many supplies that costs can add up very quickly. Consider the following:

• Boxes: You need a number of boxes of various sizes. Sometimes, you can get free boxes from local stores, but often you can get comparable, sturdy ones by buying them, especially for heavier items.
• Packing Materials: Packaging materials you will need include bubble wrap, packing paper, and foam peanuts to protect your breakables safely. You also need packing tape, markers for labeling, and furniture blankets or pads.
• Specialty Supplies: Depending on how many irreplaceable or delicate items you are moving, such as artwork, electronics, and possibly antiques, you may have to purchase specialty packing materials or even crates in which to have them safely moved.

Budget Tip

Start gathering boxes and supplies well in advance of the move to have items that can be on sale or free. Consider renting reusable moving boxes as a way to save some cash while reducing waste, too.

2. Hiring Movers or Renting a Truck

Perhaps the biggest cost associated with moving out is professional movers-if one intends to do it themselves, then a moving truck.

• Professional Movers: The cost for professional movers depends on the distance, volume of items, and services involved like packing, disassembling, and assembling furniture. You are advised to solicit quotes from several firms so that you can review prices and services.
• Rental Moving Truck: In case you are handling the move yourself, you will need to rent a moving truck. The price will depend on the size of the truck, distance of travel, and length of time you intend to keep the truck. Don’t also forget to add into your budget the fuel and insurance you may want to cover the vehicle.

Budget Tip

Consider a hybrid approach- you do the packing and smaller items while you hire movers for heavy lifting and transportation. This helps to save on money but still allows you to get professional assistance.

3. Travel Expenses

Travel expenses are often something one overlooks in budgeting for their move. Depending on how far away your move is, these costs can include:

• Fuel: This is an estimate for gas if you are driving to your new home. It depends on the distance you travel and the fuel consumption of your vehicle.
• Accommodation: Depending on the distance you are moving from your old home, you may need to include in your budget a likely expenditure for hotels and motels along the way.
• Food: On-the-road food, restaurants and take-out places, can pile up quickly. You can save some money by packing snacks or taking lunch with you.
• Airfare: This applies if you are moving to another state or country. Don’t also forget to include in your moving budget plane tickets, baggage fees, and airport-to-apartment/ house or vise-versa ground transportation.

Budget Tip

Book as early as possible for travel accommodations and flights to lock in lower rates. Find some discounts online or use reward points from your credit card to lessen the cost.

4. Security Deposits and Utilities

Most probably, when renting a new property, you will be asked to pay some kind of security deposit, which can usually be one or two months’ rent and often is refunded when you vacate the premises provided you leave the home in good condition.

Besides the security deposit, you need to budget in utilities set up in your new home:

• Electricity and Gas: Some setup charges may be there for electricity and gas. Some service providers may even charge a deposit for opening your account.
• Water and Sewer: This depends on the place you live. You may have some water and sewage authorities charging you a connection fee.
• Internet and Cable: Installation charge and equipment cost apart from deposits may be charged to set up internet and cable facilities.
• Renter’s Insurance: This is not exactly a utility, but often required by landlords, wherein the policy covers one’s belongings in case of theft, fire, and other disasters.

Budget Tip

Call ahead of time to get an estimate for the setup fees and deposits for each of the utility providers. Consider bundling services, such as internet and cable, for special rates.

5. Cleaning and Repairs

Before you can finally leave your current home, you might need to thoroughly clean it in order to receive your security deposit back on a rental or presentable for sale. Cleaning and repair costs may include:

Cleaning Supplies: You may need additional cleaning supplies, or even hire a professional cleaning service.

• Repairs: If there is any damage in your present house, such as holes in the walls or broken fixtures, you will have to mend them before you leave.
• Carpet Cleaning: Some landlords include professional carpet cleaning as part of the moving-out process.

Budget Tip

Save on costs by doing minor repairs and cleaning tasks yourself. If you hire professionals, make sure you get the best deal by comparing a number of quotes.

6. New Furniture and Home Essentials

Sometimes moving into a new home-whether larger or smaller-means buying new furniture or home essentials. Consider the following:

• Furniture: Major furniture items like beds, sofas, dining tables, and more can be quite expensive. You should decide which ones you actually need upon moving in and which ones you could afford to add later.
• Appliances: If your new home does not have appliances such as a refrigerator, washer, or dryer, you will need to budget for these items.
• Decor and Essentials: Further costs could come from curtains, rugs, light fixtures, and the like. Other essentials include trash cans, cleaning supplies, and kitchenware.

Budget Tip

Attempting to buy furniture and other basic house accessories during the sale period, or second-hand items are also a good financial decision.

7. Storage Costs

If your new home isn’t ready when you move out, or if you’re downsizing and want to store some belongings, you’ll need to budget storage costs. Some of the things that will determine the cost of storage fees include the size of the unit, how long the items are stored, and where it is geographically.

Budget Tip

Look for storage facilities that offer long-term rental discounts or find a friend or family member who is also interested in renting a storage unit so you can split it and save money.

8. Miscellaneous Costs

Lastly, an amount should be budgeted for miscellaneous costs which may likely come out during the move, including but not limited to:

• Pet Care: If you have any pets, you could add into your estimate the cost of transporting your pets, boarding fees, or booking a pet-friendly accommodation.
• Mail Forwarding: Depending on the case, the postal service can send forwarded mail to your new address at some fee.
• Moving Insurance: Sometimes there is an option to purchase moving insurance from the moving company for really valuable items.
• Tips for Movers: Of course, one would want to give their movers a gratuity if they have done an outstanding job and may also include this in their moving budget.

Budget Tip

Set aside an amount of money to make up an emergency fund for unexpected expenses that might come along during the move.

Conclusion

Moving can be pretty expensive, but it is doable with proper planning and budgeting. From the above costs identified, you will be well equipped in handling the financial aspects of the moving process and making your transition as smooth as possible. Let me remind you, a successful move is not about how much you spend on it, rather how well you plan and budget for it.

If you’d like to discover the latest information about the moving and relocation world, please also check other industry news from Asian Tigers Group.

Your trusted moving support is only a few clicks away from your hand. Contact the Asian Tigers office near your origin or destination for your next move. You can also check our Frequently Asked Questions resource, AI-powered by Tiger Move Bot.