5 Budget-Friendly Moving Tips
Whether you plan to relocate across the country or across town, keeping moving expenses to a minimum could reduce the stress of coordinating a move to a new home. Spending less might also leave you with enough cash to throw a housewarming party or even kick-start a home maintenance and repair savings fund.
Use these budget-friendly moving tips to ease into your new living space without straining your back, or your wallet.
1. Don't take it with you
Plan to leave some of your belongings behind and you could lower moving costs and save money come tax season. Since many moving companies factor in the weight of your belongings when giving you a quote for services, reducing the load could yield significant savings.
Decide what you'll sell, donate, recycle, or keep by tackling one room at a time. Once you have your piles sorted, focus on removing items from your home before you pack. Hold a garage sale or post your goods in an online marketplace to get cash in your hands quickly. You could donate items to a qualified organization and itemize the deduction on your next federal income tax return.
2. Flex your schedule, not your muscles
Your flexibility could help keep more cash in your wallet. Delaying your move by a season, day, time of month or hour of the day has the potential to lower moving costs. Peak moving season (mid-April thru Labor Day) is when you can expect to pay the most for moving-related services. If possible, reschedule your move during slower months (early April or after Labor Day).
But since some moves can't wait, consider timing yours to avoid the rush. Plan to move on a weekday or month-end when there's less demand for moving services. Scheduling your move during off-peak times could help save money, and your sanity.
3. Plan a DIY to avoid a DUD
Hiring professional movers could help ensure you complete the move on time and with less stress. But, you could slash moving costs by packing, loading, transporting, and unpacking boxes and furniture with the help of family and friends. If budgetary restrictions cause you to choose a DIY move, consider the following before packing your first box:
How will you move large pieces, like a pool table or piano?
Are you physically able to assist with the move?
How many people can you get to help with the move?
What's your alternate plan if one or more people back out of helping you when you need them?
Will your friends or family receive compensation for assisting you with the move?
Is the amount you'll save with a DIY worth the risk of damage to your belongings?
Should you rent a truck or will you be able to use your vehicle to transport your belongings?
4. Don't pay for packing supplies
New moving boxes, unused packing paper, and tightly wound bubble wrap are common packing supplies that can take a bite out of your moving budget. Save your money for other moving related expenses and seek free sources of packing materials instead:
Contact local businesses for used boxes, bubble wrap, and packing paper.
Post your need for used packing materials on a local neighborhood app.
Visit a recycling center for used packing supplies.
Use household items like socks, small towels, linens, and t-shirts to wrap glassware and provide a cushion between dishes.
Search social media sites for people giving away packing materials for free.
Start your search for free packing materials at least 30 days before you plan to move. This should give you enough time to gather what you need from a variety of sources.
5. Be prepared to back up that rental truck to a self-storage unit
Set aside money for temporary storage. While you might not plan on using a storage unit, you'll want a safe place to keep your belongings if you're forced to leave your current residence before your new space is ready for move-in.
If you don't have the money set aside, you might be tempted to use high-interest rate credit cards to cover the unexpected cost.
If your next move involves the purchase of a home, we’ve got your back.
Together Credit Union can help you navigate the home buying process. Speak with a Mortgage Loan Officer by calling 800-325-9905. They can answer questions and get you pre-approved* for a low-interest rate mortgage loan today!
*Subject to credit approval.
