What should You Know about Budgeting for Relocation?

Posted by Kris Lindahl on Friday, January 9th, 2015 at 11:41am.

Relocation

You may be downsizing or relocating for a new job but whatever the reason, moving can be very expensive.

Some surprising costs of moving include:

  • Fees to move or connect services.
  • Deposits on Utilities.
  • Buying curtains and rugs.
  • Cleaning supplies, packing material or a night or two spent in a hotel.
  • Any fees related to moving out of your old place.

Prepare your Finances for your Upcoming Move

Once you know that you are going to be moving you should start saving money monthly. You should also plan on an additional 10% in unexpected moving expenses, as well. Create a separate account and put money into it like it is just another bill that you have to pay. In case you don’t know when you will be moving you should just start saving more than 20% of your budget costs now.

How to Offset the Cost of a Sudden Move

If you haven’t had time to save money for your move, try the following:

  • Save moving costs by getting rid of things that you no longer need.
  • Sell the things that you no longer need. If you haven’t used it in the last three years then you can do without it.
  • Find Free Boxes! Contact local Apartment Complexes, check with your work and friends and family for shipping boxes that will just be thrown away.

Avoid Overpaying for a Moving Service

  • Get Multiple quotes.
  • Consult the Better Business Bureau to check on moving companies.
  • Find/Use your own packing material.
  • If you are not moving too far away and you have willing and able friends, buy them pizza and beer and enlist their help

Sometimes moving for a better opportunity is a good decision, but be sure to factor in all of the expenses of moving so that you are not caught off guard.

Kris Lindahl
Kris Lindahl Real Estate
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