The Costs You Need to Factor in to Your Moving Budget

Moving can get pricey, which is why many people start the process by creating a moving budget. Failing to prepare financially can result in unexpected spending and sticker shock when everything adds up. But by wrapping your head around what you can expect to spend money on before you get started with your move, you help ensure that you know what’s coming and can prepare appropriately.

The very first step in setting a moving budget is creating a list of what sorts of costs will need to factor in to it. The costs below won’t all necessarily apply to you, but pick and choose the ones that do and write them down on a piece of paper or on a spreadsheet to get started with creating your moving budget.

Costs for hiring professional movers

Planning on hiring a moving company for assistance with your move? Here are the fees you’ll want to factor in.

Base moving fee: The movers you hire will provide you with a quote that includes the cost of labor and fuel. The final price may vary depending on how much stuff you have and how long the move takes. Use our moving cost calculator to get a general idea of how much you can expect your base fee to be, and get quotes from at least three different moving companies so you can be sure to select the best rate. (Visit our moving company directory to find a list of reputable movers in your area.)

Moving insurance: Your moving company will provide valuation coverage, which is the amount of liability they agree to take on in the event that your belongings become damaged or lost. Valuation cover is not insurance, however, and you may decide you want additional protection. If so, you’ll need to purchase moving insurance. Check with your homeowner’s or renter’s insurance first to see if they offer it before looking at other third party options.

Optional charges: You’ll need to factor in additional costs to your moving budget if you want your movers to provide more than the base services, including if you plan to have them pack for you or prepare your appliances.

Costs for a do-it-yourself move

Moving yourself is often cheaper than hiring pros, but there are still quite a few costs to consider.

Truck rental: Unless you’re packing really light and don’t have any furniture to move, you’re going to need to rent a truck. Rates vary depending on the size truck you need, how long you need it for, and how far you’re taking it.

Gas: Your truck rental company will have specific rules about how much gas you need to return the truck with. Use the AAA’s fuel calculator to figure out about how much you’ll need to spend to reach that amount.

Additional insurance: You may want to purchase additional liability coverage on top of what is provided by the truck rental company (which is usually pretty minimal).

Equipment rental: The truck rental company should be able to rent out to you the equipment that you’ll need to make your move easier, such as moving blankets and dollies. Check with your local hardware store to see if it’s cheaper to rent moving equipment from them instead.

Other potential moving day costs

Don’t forget these important moving day costs when creating your moving budget.

Vehicle shipping: If you’re moving across state lines you may be shipping a car in addition to your belongings. It will probably be cheaper and easier for you to use a certified Auto Mover for this as opposed to having your movers load your car onto the moving truck.

Your own transportation: Unless you’re the one driving the truck with all of your things, you’ll need to factor in your own transportation for moving day. This may be a nominal cost if you’re moving close to home, but gas can add up if you’re moving further away.

Multiple-day moving costs: If your move is not going to be completed in one day, be sure to account for the costs you’ll likely incur, including overnight accommodations and meals.

Storage costs

If not everything is coming with you on moving day you’ll want to also factor in storage costs, be they short term or long term.

Storage unit cost: Shop around and get a couple estimates to determine the best rate for your storage unit. The total cost will depend on the size of the unit, the length of time you’ll be needing it for, the location of the unit (plan to spend more if you’re renting a unit in a city versus a suburb or the country), and additional amenities offered by the storage company (including things like climate control and security).

Storage transportation: Make sure to factor in to your moving budget the cost of getting your items to storage. This may be the cost of fuel to drive your belongings there yourself, or it may require a truck rental.

Storage container: An alternate option to renting a storage unit is renting a storage container. These are generally dropped off at your home for you to fill up, then picked up and stored by the storage container company, and then dropped off at your new location. As with traditional storage units, be sure to get a couple of quotes so you don’t end up spending more than you have to.

Storage supplies: You’ll need storage supplies in addition to moving supplies, including additional boxes and packing materials.

Additional storage costs: Don’t forget to factor in potential additional costs like a required security deposit for you storage unit rental and the price of a heavy duty lock.

Packing and supply costs

It’s not always possible to predict exactly how much you’ll need in terms of packing supplies, but at the very least you’ll want to consider what you’ll need when you’re setting your moving budget. Our packing calculator can help you determine what packing supplies you’ll need and how much of each. The supplies you will likely need include:

• Moving boxes
• Packing paper and/or newsprint
• Packing wrap
• Packing tape
• Plastic wrap
• Markers and/or labels
• Specialty dividers

Cut costs on packing supplies by acquiring free boxes where you can and using things like linens, towels, and clothing to provide padding in boxes instead of (or in addition to) packing paper and bubble wrap.

Other costs

Moving costs aside, there are other incidentals that you may or may not need to factor in to your moving budget.

Cleaning costs: Whether renting or buying/selling, you’ll need to make sure the home you’re vacating is clean for the person who is moving in. You’ll also probably want to clean the new home that you’re moving to. Associated costs may include cleaning supplies (if you don’t already have what you need) or the cost of hiring a professional cleaning company.

Child care or pet care: If you have kids and/or pets, it will probably be in your best interest to have alternate plans for them on moving day. This may mean having them spend the day with a trusted friend or family member, or it may require spending money for a babysitter or petsitter.

Real estate costs: One of the priciest parts of moving has nothing to do with moving day itself. Real estate costs need to be factored in to your overall moving budget, and may include things like realtor and lawyer fees, rental deposits and first and/or last month’s rent, home inspection and appraisal fees, down payments, and cleaning and repair fees.

Time off of work: Need to take a day or two off for packing and moving? Unless you work for a company that provides paid time off, you’ll need to account for the cost of staying home. If your budget is already tight, try to see if you can arrange your moving schedule in such a way that you don’t need to miss any work.

Costs to settle in

Once you’re in your new place you’re almost done with moving-related spending, but not quite. Be sure to remember that you’ll probably have additional costs after move-in, too.

Utility set up: Some utility companies charge a fee to set up service.

New furniture and household items: Make a list of the things you know you’ll be needing for your new home, such as a shower curtain, new couch, window treatments, etc. Take a little bit of pressure off your moving budget by separating these items into those things you need right away and those things you can wait to buy until later.

It can be overwhelming to see the list all of the things you’ll need to spend money on for your move, but remember that not all of the above costs are going to apply to you. Read our tips on cutting costs for your move to keep your overall spending down, and don’t worry—while it will be a lot of spending all at once, it’s just for a short period of time.