How much does it cost to move? Here's how to budget and save.
Factors like move distance and the weight of your furnishings can affect the total cost — but there are several ways to economize
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
You are now subscribed
Your newsletter sign-up was successful
A number of factors are most likely already on your mind as you weigh an impending move and its associated costs: mortgage rates, home prices, market availability — and, of course, location, location, location. Another thing not to overlook in your calculations? The expense of relocating itself.
Even if you are planning to pack up your stuff yourself and move just a few streets over, you should probably budget for some packing supplies and transport. If you will need to hire professional help and the distance you are moving is much farther, you can expect a more significant line item in your budget.
What is the average cost of moving?
The average cost to "hire professional movers is $1,710, with local moves ranging from $882 to $2,566," said HomeAdvisor. However, a variety of factors can shift that cost much lower — or significantly higher.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
If you plan to DIY your move, it "costs an average of $150 to rent a moving truck for local moves," plus the added expenses of "gas, moving supplies, taxes and often a per-mile fee," said NerdWallet, citing Move.org.
On the other hand, if you are eyeing a long-distance move, generally defined as "one that spans 100 miles or more," you typically will pay anywhere from $2,417 to $6,863, though "costs can rise to $10,000 or more if you're bringing a lot of items or are moving a great distance, such as coast-to-coast or overseas," said NerdWallet, citing data from HomeAdvisor.
What factors influence moving costs?
Moving costs are "generally based on the size of your home and the distance you're moving, as well as the weight of your furnishings and whether you'll need them stored for a time while you relocate," said Bankrate.
You can also expect to pay extra for getting your belongings packed up and then unpacked at your new home. Premiums will apply if you are planning to bring along anything that requires "specialized equipment, extra care or more labor to move," such as pianos or hot tubs, or items that "need special care," like antiques, artwork or musical instruments, added NerdWallet.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Lastly, the time of year you choose for your move can also move the needle on cost. For instance, "summer months are a popular moving window because kids are out of school, so your costs could be higher then due to increased demand," whereas you may pay less moving "from November through the New Year's holiday," said Bankrate.
How can you save money on a move?
To free up money for more exciting aspects of your move, or simply enjoying your new location, consider the following money-saving moving tips:
Be selective about what you bring. The less stuff you move, the lower your moving costs will be. This is especially true for large or specialty items.
Avoid paying for new boxes. "Local grocery and other retail stores might give you their old cardboard boxes and packing material for free if you ask," said RocketMortgage.
Strategize your timing. "Demand dips through fall, winter and early spring — and so do prices," said NerdWallet, so plan your move for then, if you have flexibility.
Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.
-
Why is the Trump administration talking about ‘Western civilization’?Talking Points Rubio says Europe, US bonded by religion and ancestry
-
Quentin Deranque: a student’s death energizes the French far rightIN THE SPOTLIGHT Reactions to the violent killing of an ultraconservative activist offer a glimpse at the culture wars roiling France ahead of next year’s elections
-
Secured vs. unsecured loans: how do they differ and which is better?the explainer They are distinguished by the level of risk and the inclusion of collateral
-
Secured vs. unsecured loans: how do they differ and which is better?the explainer They are distinguished by the level of risk and the inclusion of collateral
-
What to expect financially before getting a petthe explainer Be responsible for both your furry friend and your wallet
-
What to know before filing your own taxes for the first timethe explainer Tackle this financial milestone with confidence
-
What are the best investments for beginners?The Explainer Stocks and ETFs and bonds, oh my
-
What’s a good credit card APR?The Explainer They have gotten even steeper in recent years
-
How to juggle saving and paying off debtthe explainer Putting money aside while also considering what you owe to others can be a tricky balancing act
-
Filing statuses: What they are and how to choose one for your taxesThe Explainer Your status will determine how much you pay, plus the tax credits and deductions you can claim
-
The pros and cons of tapping your 401(k) for a down paymentpros and cons Does it make good financial sense to raid your retirement for a home purchase?
