How to Relocate Without Emptying Your Wallet
Moving to a new home can take a toll on you physically and financially, especially in today’s economy. Moving costs can add up no matter if you’re relocating near or far. NerdWallet estimates that a change of address within your local area (100 miles or less) can cost between $880 and $2,570. Moving farther than 100 miles could cost between $2,417 and $6,863. In this blog, we will discuss ways you can spend smarter and relocate without emptying your wallet.
Understand the Cost of Moving
While moving seems like a straightforward task, it does come with costs that you may not have considered. These include the distance to your new home, your current home’s size, how many items you are transporting and if you will be hiring movers or doing the work yourself.
Hiring professional movers will cost money but you will avoid the manual labor involved in moving your items. If you decide to move yourself, you may have to rent a truck or van and may have to make several trips. You may also need to call in friends or family to help with the labor, as well as purchase supplies, such as large moving boxes, so you can keep things organized.
Using Professional Movers vs. Doing it Yourself
Depending on your current home’s size, you may find it more practical and efficient to hire movers. But, using a moving company can add up, especially with hourly rates averaging $38 to $75 per person, according to NerdWallet. The upside to movers is they will pack, box and/or wrap most household goods and then load them onto their truck. Then, they will drive to your new place and unload everything into your new home.
If you decide to move things yourself, you could ask family and friends to help, especially if one has a truck or van. If you have a truck, a smart alternative is to hire labor-only movers who will load items onto your truck. If you don’t own a truck, you can rent one to help you move.
Whether you do it yourself or hire professionals, having a clear strategy for your move will let you plan and budget accordingly.
How Seasons May Impact Your Move
NerdWallet also notes that spring and summer are the busiest seasons for moving, which could mean you’ll pay moving companies more. If possible, plan your move for other months. If you can’t, be sure to reserve your movers early because moving company schedules fill up fast between Memorial Day and Labor Day. If you are moving during other times of the year, keep in mind that bad weather may play a factor.
How to Save Money on Your Move
If you’re moving on a budget, there are a couple of things you can do to save money. They include:
- Downsizing and Decluttering: Getting rid of items you no longer need will let you move fewer things to your new home, which can save on moving costs. Consider selling items, giving them away or donating them.
- Seek Used Moving Boxes and Packing Materials: Instead of buying new moving boxes and packing materials, ask family, friends or co-workers if they have empty boxes they no longer need.
- Move Off-Season: If possible, time your move between October and April. This is the slow season for moving that lets you take advantage of potentially lower prices from moving companies.
- Rent a Truck or Container Service: Renting a truck lets you save money by moving things yourself. If you have a lot of items to move, consider a container service where a container is dropped off at your current home that you will load yourself. Then the full container is taken to your new home for you to unload.
How Travis Credit Union Can Help
The keys to a successful move are planning and budgeting. Travis Credit Union is focused on your financial wellness and offers financial education tools and resources to help you plan, save, spend and borrow better. For example, our TCU Knowledge Base provides free online financial education courses on a variety of money-related topics that can help you achieve your goals, including saving money for a new place to live.
If you’re ready to buy a home, TCU offers a variety of home loans, plus experienced mortgage loan consultants to help you become a homeowner. Travis also offers home equity loans and home refinances, too. Make your first move to Travis Credit Union today!