If you are planning on moving, you need to know that relocation can be a difficult and stressful process. The move puts different physical and emotional pressures on us. It also exerts pressure on our finances. Knowing exactly how to calculate the costs of relocation will help you set a realistic budget for your move. This will help prevent any unpleasant surprises.

The moment you realize that you want to move, you should start saving up for your new home. There are many things to consider if you want to calculate the total costs of a move. Account for both the expected and unexpected costs.

Defining the variables

Before starting any calculations, we need to define the variables that will be taken into account. Several factors affect the costs associated with a move. Here is a list of the most important ones that will affect how much money you will end up spending on your relocation:

Moving distance
Amount of belongings you plan on moving
Means of transport
Moving services, such as packing or special handling of items
Storage
Time and date of your relocation
Insurance and liability coverage
Packing and moving supplies.

Distance

One of the main factors that can affect the costs of relocation is the distance that you and your belongings need to travel to your new home. Local, long-distance and overseas or intercontinental moves all have different costs associated with them.

Local move – The cost of a local move is usually based on hourly fees and the total number of hours and people needed to complete the move.

Long-distance move – Long-distance moving companies will most commonly charge you depending on the total weight or volume of your belongings and the total distance covered.

An overseas or intercontinental move – These are the most costly relocations. And understandably so, as they often include air freight or shipping costs, including taxes. If you plan on relocating your vehicle as well, keep in mind that this might lead to additional costs. Vehicles need to be transported in a specific manner and with accompanying documentation.

Method of moving

The method you choose for your move will have a big impact on the total cost. Whilst opting for a full-service move might be easier, it is also more expensive. If you plan well and ahead of your move, there are ways that you could cut your household expenses and save money for your relocation.

Hiring a moving company

If you decide to hire a moving company, you need to decide whether you want a full-service package, any extra services, or just a few of the services they offer. This, along with the prices based on the weight of your belongings, will determine the bill that you will be presented with.

You should research moving companies online and follow up on their reviews. When you find a minimum of three companies that meet your requirements in terms of services offered and reputation, ask for written estimations from them. Don’t settle for any moving company. Find the one that has all the services that you need and whose estimation you favor. Also, find out if the estimate is binding and verified by the Department of Transportation.

You could try to negotiate with your chosen moving company. If you are ready to set the date of your relocation for the offseason and midweek, you will probably save some money. Leaving behind some of the items that need special handling, such as pool tables, can also reduce your overall costs.

Finally, insurance and tips should also be taken into account when you calculate the costs of relocation.

DIY approach

If the fee for booking a full-service move is above your budget, you could decide to use just some of the services and do the rest yourself. If you have the time and patience to do everything by yourself, start planning. Do your research well to make sure you aren’t taking on too big a task. Tasks such as packing your belongings, heavy lifting, renting, and driving a moving truck are things you can do by yourself. It will help you save a lot of money and have more control over the process.

The main costs of relocation associated with a DIY approach are:

Insurance – If you rent a moving truck, you should have insurance. Also, your belongings should be insured while in transport.
Gasoline, mileage, and road taxes – Calculating the costs of renting a moving truck should include the cost of gas. Keep in mind that trucks are not very gas-efficient. Companies that rent out trucks base their prices on mileage, and if your relocation it long distance, it can be very costly.
The cost of moving supplies – If you don’t plan, moving supplies can be very expensive. However, with research and good planning, packaging materials can be affordable.
Treats – If you plan on having your friends and family help you with your move, treat them to a nice lunch and have a good time.

You can opt for a combination of a DIY move and hiring movers for some of the tasks.

Special requirements

Any special requirements you might have can greatly increase the costs of your move. To be able to calculate the costs of relocation, it is good to put together a list of any unusually large or heavy items you plan on relocating. Let your moving company know about them and ask for the cost estimate for moving them.

In addition to this, you should take into account any other factors that affect the difficulty of your move. Restricted access to your old or new home could be one of them. This can affect the amount of work that needs to be done or how. This, in turn, will affect the total cost of the move.

Calculating your budget and estimating the costs

Once you take all of the factors into account, you are well on your way to being able to calculate the costs of relocation realistically. Nowadays, it is easy to find online cost calculators for various types of relocations, which you can also use. Be realistic when setting your budget, consider tips that can help you when buying your new home, and think about every possible expense and whether you can cover it. Being prepared and informed can save you lots of money and ensure your relocation is less stressful and hassle-free.

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