How To Create a Moving Budget

Moving comes with a host of unexpected costs, but a well-thought-out budget can help you avoid sticker shock. While researching average costs and creating a moving budget, you can determine how much you’ll need to put aside and identify chances to save money. To demystify the budgeting process, we compiled this detailed guide on creating a moving budget and hiring the best professional moving company for your needs.

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The Importance of a Moving Budget

A well-planned moving budget serves as a financial roadmap for your relocation. It helps you anticipate expenses, compare options, and make cost-effective decisions throughout the moving process. By creating a detailed budget, you can avoid overspending and provide yourself with sufficient funds to cover all aspects of your move, from packing supplies to transportation costs.

Assess Your Moving Needs

Before calculating the numbers, it is important to evaluate your specific moving requirements. This assessment will help you determine the scope of your move and identify potential cost factors.

Take Inventory of Your Belongings

Start by creating a detailed inventory of your possessions. Here’s how to approach it:

1. Document valuable items: Take photos or videos of high-value possessions such as artwork, jewelry, and antiques. Store these records in a secure, cloud-based solution for easy access.
2. Create a comprehensive list: Make a detailed inventory of your belongings as you pack. Develop a system to track the contents of each box, and consider color-coding boxes by room for easier organization.
3. Note item specifics: For each item, record important details such as:
   • Weight: This is especially important for long-distance moves, as many companies charge based on weight
   • Size: Necessary for determining the appropriate moving truck or container size
   • Value: Essential for insurance purposes and deciding on special handling needs

Determine the Scope of Your Move

Consider the following factors to understand the full extent of your move:

• Distance: Are you moving locally, long-distance, or internationally?
• Timeline: How much time do you have to complete the move?
• Special items: Do you have large, fragile, or valuable items that require special handling?
• Additional services: Will you need packing assistance, storage solutions, or other specialized services?

Clearly defining these aspects gives you the know-how to better research costs and create an accurate budget.

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Research Average Moving Costs

You can look up average moving costs with a quick search or use the free moving calculators offered by companies such as International Van Lines and Moving APT. Costs can vary widely based on the location, distance, weight, and size of your move. Expenses will also differ depending on whether you plan a do-it-yourself move or hire a full-service mover.

Common costs associated with moving include moving insurance, fuel, equipment rental fees, packing supplies, taxes, tolls, and specialty packing services. We’ve separated these and other costs into three categories below.

Do-It-Yourself Moving Costs

When most people talk about a do-it-yourself move, they mean renting a moving truck. According to 2021 survey data collected by our team, most do-it-yourself moves cost less than $500. Another option is to rent a mobile storage container from a self-service moving company. Our survey indicated that this costs $500 to $1,500.

DIY moving costs are usually broken down into the following categories:

• Truck or container rental fees
• Transportation costs (fuel, mileage, tolls, etc.)
• Other equipment rental fees (dollies, ramps, etc.)
• Moving insurance
• Packing materials (furniture covers, packing tape, bubble wrap, etc.)

Professional Moving Costs

When researching how much movers cost, we found that people who hired a full-service moving company in 2022 paid an average of $8,100. You may be charged a different rate based on how large your home is and how far you’re moving. One-bedroom households paid about $31 per mile, while households with four or more bedrooms paid $49 per mile.

Expenses associated with this type of move include the following:

• Base rate
• Packing services or materials
• Additional services (unpacking, cleaning, etc.)
• Extra charges (for stairs, heavy items, etc.)
• Moving insurance

Additional Moving Costs

Your moving costs are not limited to what the moving company charges. You’ll also need to factor in the following costs:

• Closing costs, security deposit, or down payment
• Utility startup costs
• Cleaning services or supplies
• Storage unit fees
• Taxes and tolls
• Tips and refreshments for movers
• Hotel and transportation costs
• Takeout or dine-in meals
• New furniture or household items
• Groceries, including pantry staples
• Child care or pet boarding

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Create a Moving Budget Template

Although you can find moving budget templates online, it’s not difficult to create your own from scratch. Here’s how to create a moving budget for a full-service move:

1. Create two columns. Label one column “Category” and the other “Cost.” This can be done by hand in a notebook or online with Google Sheets or Microsoft Excel.
2. List the expense categories. For full-service moving, expense categories might include the base moving rate, moving insurance, packing services, specialty services, extra fees, and hidden costs.
3. Fill in the cost for each expense. In the second column, estimate the cost for each expense category based on your research.
4. Add lines for any other expenses. Examples include child care, pet boarding, fuel costs, airline tickets, packing materials, storage, and any furniture or items you plan to buy immediately after your move.
5. Repeat the process as needed. If you request quotes from multiple companies, as we recommend, consider creating a separate budget for each one. This will make it easier to determine which company offers the best deal.

If you’re unsure of whether to hire a professional mover or take a do-it-yourself approach, create a second budget to compare the two options. Follow the steps above but adjust the categories to account for self-service moving expenses.

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Choose a Moving Date

If you’re moving for work, you may not have much control over when you move. However, those with some flexibility can save money by strategically choosing their move date. Truck rental fees and full-service moving rates can vary significantly depending on the season, month, and even day of the week.

The busiest seasons for moving companies are late spring and summer, from May through early September. College students and recent graduates often relocate during this window. It’s also the most convenient time for families with school-aged children to move. Prices are at their highest during this time frame, but it may be the right choice regardless.

Ultimately, the best time to move depends on your budget, schedule, and priorities. Winter is the cheapest time to move in most areas, but it also carries the highest risk of weather-related delays. The shoulder seasons of fall and early spring are typically accompanied by milder temperatures and lower prices on both homes and moving services.

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Get and Compare Moving Quotes

Obtaining multiple quotes is important for finding the best value for your move. This process also helps you refine your budget estimates. Here’s how you can get accurate quotes and compare them effectively.

Full-Service Moving Quotes

When requesting quotes from full-service movers:

1. Provide detailed information about your move (inventory, special items, etc. ).
2. Ask about all potential fees and services included.
3. Inquire about different types of estimates (binding vs. non-binding).
4. Schedule in-home or virtual assessments for more accurate quotes.

Self-Service Moving Quotes

For do-it-yourself or partial-service moves:

1. Compare rates from multiple truck rental companies.
2. Consider portable storage container options or moving pods, such as PODS or U-Pack.
3. Ask about mileage fees, insurance costs, and equipment rental prices.
4. Inquire about any current promotions or discounts.

Remember to read the fine print and understand what type of moving estimate you are getting.

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Moving Budget Tips

Follow the tips below to draft a more accurate budget and better prepare for moving expenses.

Weigh Cost vs. Convenience

It is possible to move cheaply on a budget. Just remember the trade-off between cost and convenience and be realistic about what you can handle. If you rent a moving truck to save money, you’ll need to invest more time and energy into the moving process. Professional movers cost more, but they also provide a valuable service.

Account for Hidden Costs

Even quotes provided by full-service interstate moving companies won’t include every moving expense. Make sure that your budget accounts for the hidden costs associated with moving, such as restocking your fridge and pantry. You may also need to pay for furniture assembly, appliance installation, and cleaning services.

Review any moving quotes carefully, noting what each does and doesn’t include. Ask about any extra fees that may apply to your move, such as stair or elevator fees. You can also expect companies to charge more for heavy, bulky, fragile, or valuable items.

Build an Emergency Fund

No matter how many hours you pour into planning, you can never fully account for Murphy’s law. The list of things that could derail your move is endless, from a broken-down truck to an ill-timed injury. Expect at least one or two things to go wrong and set aside an emergency fund to handle any surprises that might affect your bottom line.

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Money-Saving Tips for Your Move

Implementing cost-saving strategies can help you stay within your moving budget. Here are some effective ways to reduce expenses:

Declutter Before You Pack

Reducing the volume of items you need to move can significantly lower your costs. Consider these steps:

1. Sort through your belongings well in advance of your move.
2. Sell unwanted items through yard sales or online marketplaces.
3. Donate gently used items to local charities.
4. Dispose of items that are no longer usable.

Remember, the less stuff you have to move, the less you’ll pay—so downsizing before your move is worth the extra time and effort.

Find Free Packing Materials

Packing supplies can be a substantial expense. Here’s how to minimize these costs:

1. Ask local businesses for free boxes (grocery stores, bookstores, etc. ).
2. Use household items such as suitcases, bins, and drawers for packing.
3. Utilize towels, blankets, and clothing as padding for fragile items.
4. Check online community groups or marketplace apps for free moving supplies.

Being resourceful with packing materials allows you to allocate more of your budget to other moving expenses.

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Our Conclusion

You’ll likely get out of a moving budget whatever you put into it. If you invest sufficient time into creating your budget, unexpected expenses won’t be a complete surprise. You can also use this process to create an inventory for insurance purposes, compare quotes from multiple companies, and find your ideal balance between cost and convenience.

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FAQ About Creating a Moving Budget

What is a good moving budget?

A good moving budget depends on the size of your move, the distance you’re traveling, and the services required. Our 2024 moving survey shows that intracity and local moves cost about $2,000 while long-distance moves cost anywhere from $4,700 to over $10,000. However, these are only averages and don’t account for costs beyond what you pay the moving company.

How do you budget for the cost of moving a piano?

To budget for the cost of moving a piano, ask different moving companies what they charge for this service. International Van Lines, for instance, charges a $150 fee for upright pianos and a $350 fee for baby grand pianos.

How much should you set aside for unexpected moving expenses?

You should set aside 5%–10% of your total moving budget for unexpected moving expenses. This can help cover things like last-minute packing supplies or even a meal if the move takes longer than expected. It’s better to have a small but unnecessary buffer than to be caught short.

Do movers charge by weight or volume?

Full-service moving companies charge by weight for long-distance moves and by the hour for local moves. If you plan to rent a truck or a portable container, volume matters more.

How can I save money on my move?

You can reduce moving expenses by getting rid of items you don’t need and by hunting for free moving supplies. You can also save money by moving during the offseason or midweek and by booking at least two months in advance.

Should I budget for tips for movers?

Yes, you should budget for tips for movers. It’s customary to tip movers about 5%–10% of your moving cost or $20–$50 per mover, especially if they give strong service.

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Our Rating Methodology

We back up our moving company ratings and recommendations with a detailed rating methodology to objectively score each company. We conduct research by reading through the company websites, analyzing customer reviews, conducting consumer surveys, requesting quotes, and speaking with customer representatives. We then score each moving company against our review standards for services, content coverage, scheduling, trailer and container options, additional benefits, and reputation to arrive at a final score out of 100.

To share feedback or ask a question about this article, send a note to our Reviews Team at reviews@thisoldhousereviews.com.