5 Hidden Costs to Know Before Moving

5 HIDDEN COSTS TO KNOW BEFORE

MOVING

story by Carolina Watlington

Whether you’re moving across town or across the country, moving can weigh down your wallet. To help prep for your next move, here are five hidden costs of moving you should know about before the big day.

1. PACKING SUPPLIES | $100+

To properly pack your belongings, you’ll need boxes, bubble wrap, packing paper, tape, markers and more. Even those flimsy cardboard boxes you’ll toss after the move will dip into your wallet. Spending $1-3 per box, they won’t break the bank, but it will add up. For a three-bedroom home, the average cost of boxes alone is around $150. To save money or paper, look into getting some reusable containers you can use on your next move and for storage in the meantime. Companies offer programs to rent reusable boxes at rates typically cheaper than purchasing one-time-use cardboard boxes. Plastic moving boxes from U-Haul on average cost $1.50 per box for a one-week rental.

2. LOSING YOUR SECURITY DEPOSIT OR DOING REPAIRS | $500+

When you live somewhere for a while, you might not realize how much wear and tear you put on the place. If you owned your home, you might need to do some touch-ups and repairs before someone else buys it. If you’re renting, it’s a different ballgame entirely. Some landlords will look for any reason to withhold your deposit. Just be ready to dish out a few hundred dollars if things go south.

3. MOVERS OR TRUCK RENTALS | $50-4,000

The actual moving part of moving is no easy task. Even if you think you can handle it all yourself, you’ll still need to rent a truck. To rent a 26-foot-long U-Haul for one day, even if you’re just moving across town, expect to pay a flat rate of $40 plus $1 per mile — in addition to extra fees. According to 2014 research by the American Moving & Storage Association, the average 7,100-pound move can cost $1,170 in state and $5,630 out of state.

4. MOVING INSURANCE AND LIABILITY PROTECTION | $100+

One way to combat the extensive costs of property damage is to be prepared by purchasing moving insurance. Traditional moving insurance typically costs 1% of the valuation of your items. Moving insurance isn’t for everyone, but if you’re making a big move or have valuable items, it’s worth looking into. If you’re using a moving company, check out their liability value protection package options in case anything breaks during the move. It‘s cheaper and may be more suited to what you need. But if you’re worried about natural disaster damages, moving insurance is your best bet.

5. LOST WAGES FROM NOT WORKING | VARIABLE

It’s easy to forget how much stuff you own until you have to pack it up. To completely pack up a three-bedroom house with no professional assistance, you need between three-to-five full days on average. You might be able to use paid time off for it, but even then, you’ll have to sacrifice vacation days you’ve been saving up. O&B