Moving from one home to another, whether across town or across the state, is a tedious and often expensive endeavor that simply can’t be avoided. The most common reasons for moving are:
- A new job
- Purchasing a house
- To be closer to family
- To save money
- To have better accommodations
As you can see, the reasons for moving to move to a new home and/or location are often tied in very closely with your finances. If your move is for the purpose of saving money, whether by living in an area with a lower cost of living, down-sizing to a less expensive home, or investing in a home of your own as opposed to renting, keep in mind that the process of your move may itself be extremely expensive. Whatever your reason for moving, consider how it will impact your finances.
You might be thinking that even with moving expenses the change will ultimately save you money, so why worry about a one-time-thing? The simple answer is that every little bit you save will be able to help you get further ahead faster in your new home.
Now that you are aware of the importance of saving money on your move, here are some tips to help you do so.
- If possible, avoid moving during the summer months. If you have any choice at all, choose to move during the non-peak season (summer). Summer is the most convenient and accommodating time to move, so naturally most people choose it. Avoiding the peak season will save you considerably on moving company rates and allow you more choices.
- If you use a moving company, shop around and negotiate. Calling around to at least three moving companies will give you a better idea of what you can expect to pay, and will also give you leverage for negotiating with the business you prefer if they aren’t the cheapest. Ask in detail about what exactly is included in the service, and if there are any extra fees for special circumstances to avoid being surprised at the last second.
- Travel light. Shipping and moving expense are greater the more stuff you have and the heavier it is, so if you have time, get rid of unneeded items in a rummage sale (extra cash), or make a tax-deductible refund to a good will organization.
- Use up your perishable food. It can be tempting to rely on the convenience of take-out when you’re busy packing for your move, but you can save money and avoid waste by taking stock of what’s in your fridge and trying to use up fresh and frozen foods that can be hard or impossible to transport.
- Move yourself. If it’s at all feasible, consider moving yourself. Compare the moving company rates with what it would cost you to rent and buy fuel for a moving van, or rely on the kindness and resources of friends and family to help. Chances are, you will save a lot by doing it yourself.
- Let the IRS know. It might seem unimportant at the moment, but if you don’t file a change of address with the IRS and it’s around tax time, you could miss your tax refund check in the mail. If you’re moving because you got a new job or your job required you to move, you may also be able to deduct your moving expenses when you file.
By planning ahead and shopping around, it’s possible to save a lot while you move so you can save even more after your move. Don’t be afraid to get creative and find even more ways to make your transition as smooth and inexpensive as possible.
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