Budgeting For Moving And Relocation

Recently Barbie and Ken (not their real names) moved a few thousand feet, across a courtyard. They traded up from a one-bedroom apartment to a two-bedroom apartment. They were amazed by four things: how much stuff they had in their old apartment, how much stuff they needed for their new apartment, how much stuff from their old apartment they were sorry they brought to their new apartment, and how long the process took from first piece packed to last piece put away. They were not alone in their amazement.

The Survey Says

“Based on research and surveys that we’ve been conducted, we’ve found that, on average, a homeowner spends $9,400 in the three months it takes them to move. That doesn’t include the cost of the new home or the moving company,” says Jeff Lippincott, Business Development Manager of MoveCentral, Inc. “Renters are spending, on average, $3,700 when they move. In either case it would take most people three to five years to spend that much on home related goods if they weren’t moving.”

“Most moves are triggered by a life event such as a new job, a marriage, a baby, a divorce, or a retirement. Some of these life events come with additional income or needs. We found that 37% of households that move purchase new furniture within 12 weeks of their move, 40% buy bedding, and 12% buy a new computer within 8 weeks of their move,” says Lippincott. “When you buy a new couch, an appliance, and a computer, the costs can mount up pretty quickly. If you have this information beforehand, you can plan and ad this to your family budget accordingly.”

Here are some more of MoveCentral’s surprising survey results:

57% of homeowners and 37% of renters bought furniture within 12 weeks of their move. Homeowners spent an average of $3,500 and renters spent an average of $1,220.

35% of homeowners and 40% of renters purchased bedding within three weeks of their move. Homeowners spent an average of $420 and renters spent an average of $240.

15% of homeowners and 12% of renters bought a computer within eight weeks of their move. Homeowners spent an average of $2,160 and renters spent an average of $1,340.

55% of households (homeowners and renters) purchased at least one appliance when they moved.

12% of all respondents with internet access went online to research moving companies.

It’s a Moving Experience

“Since most people are paying the movers themselves (as opposed to a corporate sponsored move), I suggest that they get three competitive quotes,” Says D’Arcy Goldman, President of Humboldt Storage and Moving, in Camden, Mass. ” Moving costs are based on the total weight of the goods you’re moving and the miles you’re moving them. It’s a very competitive industry and it’s hard to get a quote with the true financial cost of the move. You want your mover to give you a good price and reliable referrals, so that you can rest assured that they will get the job done properly.”

“It’s very important that you take advantage of an estimator’s expertise,” says Goldman. “Show them everything, even if you think it might not be going. Don’t say ‘I’m going to have a tag sale and I’m sure that old piano won’t be going with us.’ It’s safer to estimate higher and end up lower. The moving company can always give you less space on moving day, but sometimes it can be hard to give you more.”

Advice from your mother

Now that you’ve heard from the professionals, make sure you follow these two pieces of age-old, maternal moving wisdom. Regardless of how much you choose to unpack that first day (or night), set up your bathroom first and make up your bed second. That way you can answer natures call, take a hot shower, and your bed will be there to catch you when you fall.