“Moving when buying a home involves more than just a down payment. From hiring movers to unexpected fees, costs can add up fast. This article breaks down key expenses like packing supplies, professional movers, and hidden costs such as utility setups or HOA fees. Learn practical tips to estimate and reduce moving costs for a smooth transition to your new home.”
Budgeting for Your Move When Buying a Home
When buying a home in the USA, moving costs can catch you off guard if not planned properly. Beyond the down payment and closing costs, relocating expenses require careful budgeting to avoid financial strain. Here’s a detailed guide to help you estimate and manage moving costs effectively.
1. Understand the Scope of Moving Costs
Moving costs vary based on distance, home size, and whether you opt for professional services or a DIY approach. According to HomeAdvisor, the average cost for a local move with professional movers ranges from $883 to $2,569, with an average of $1,711. Long-distance moves, such as cross-country relocations, can cost between $2,404 and $6,862, averaging $4,579. For a precise estimate, consider the number of bedrooms, the weight of your belongings, and the distance to your new home.
2. Break Down Key Moving Expenses
Professional Movers: Hiring full-service movers for a local move typically costs $25–$100 per hour per mover. For a two-person crew working 8 hours, expect $400–$1,600. Long-distance moves may range from $2,000 to $10,000, depending on distance and load. Always get quotes from at least three companies and verify their credentials.
DIY Moving: Renting a moving truck for a local move costs $30–$500, while moving containers for interstate moves range from $900–$4,500. Factor in gas, insurance, and equipment like dollies.
Packing Supplies: Boxes, tape, and packing materials cost $50–$200 on average. To save, collect free boxes from local stores or online marketplaces and buy in bulk. Declutter before packing to reduce the number of boxes needed.
Specialty Items: Moving pianos ($258–$572), pool tables, or other heavy items requires specialized equipment, adding to costs. Request separate quotes for these.
Cleaning Services: A deep clean of your old or new home costs $100–$300. Doing it yourself saves money but requires time and supplies.
Travel and Lodging: For long-distance moves, budget for gas, meals, or hotel stays. These can add $100–$1,000 depending on the distance and number of travelers.
3. Account for Hidden Costs
Unexpected expenses often arise when moving. Condo or apartment buildings may charge move-in fees, ranging from $50–$500, for elevator use or parking permits. Utility setup fees for electricity, water, or internet can cost $50–$200 per service. If moving to a home with an HOA, factor in initial fees, which vary widely but can be $100–$1,000. Changing locks ($100–$300) and redirecting mail ($1–$20) are smaller but essential costs.
4. Timing Your Move to Save Money
Moving costs peak during summer (May–September) due to high demand. Booking during off-season months (October–April) or mid-week can save 10–20%. Avoid month-end dates, which align with rental agreements and increase mover rates. Schedule early to lock in lower rates, as many companies book up quickly during peak seasons.
5. Tips to Reduce Moving Costs
Declutter: Sell or donate unused items to reduce the volume of goods, lowering mover fees or truck size needs. Apps like Olio or local donation centers can help.
Compare Quotes: Get estimates from multiple movers and negotiate. Check reviews on platforms like Yelp or the Better Business Bureau to ensure reliability.
DIY Where Possible: Pack non-fragile items yourself and enlist friends for loading to cut labor costs.
Tax Deductions: While the 2017 Tax Cuts and Jobs Act limited moving expense deductions, active-duty military members may still qualify. Consult a tax professional to explore eligibility.
Insurance: Check if your homeowners or renters insurance covers moving. If not, purchase moving insurance through your mover for added protection, typically $100–$500.
6. Budgeting for the Big Picture
When planning, integrate moving costs with other homebuying expenses. Ramsey Solutions recommends saving 25% of the home’s sale price to cover down payment, closing costs, and moving expenses. For a $300,000 home, this means $75,000, with moving costs likely $1,000–$5,000 of that total. Keep an emergency fund of 3–6 months’ expenses to avoid dipping into savings for unexpected costs.
7. Practical Steps to Plan Ahead
Create a Moving Budget: Use online calculators like those from MoveBuddha or Compare My Move to estimate costs based on home size and distance.
Start Early: Begin packing non-essentials weeks in advance to avoid rushed, costly decisions. Label boxes clearly to streamline unpacking.
Track Expenses: Use a spreadsheet or budgeting app to monitor costs for supplies, movers, and fees. Set aside a 10% buffer for surprises.
Coordinate with Closing: Align your move-in date with your closing to avoid temporary housing costs. If there’s a gap, budget for short-term rentals, which can cost $500–$2,000 monthly.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Consult a financial advisor for personalized guidance. Costs and services vary by location and provider. Always verify quotes and credentials before hiring movers. Sources include HomeAdvisor, Bankrate, NerdWallet, and other reputable financial websites.
