How to Budget Moving When Single
Original post by Maggie McCormick of Demand Media
Whether it's cross town or across the country, moving can be a big expense. When you're single, you'll have to foot the entire bill yourself, which can be a challenge for budgeting. Fortunately, being single does allow for some potential advantages, such as the freedom to move to a smaller place, as well as fewer items to move. Plan for your expenses ahead of time so that you can save up the funds you need to make your move go smoothly.
Research the housing market in the area where you're moving. Compare the cost of renting and buying a new home. If you're really strapped for cash, you can move in with a roommate to share costs. One important thing to note when renting is that different areas have different standards for deposit. Some places will require just the first month's rent and a security deposit, while others will require first and last month's rent, in addition to a security deposit. This shows you how much you'll have to have to move into that new place.
Estimate the cost of your final utility bills. When you move out, you'll have to pay the balance on your utility bills. You can estimate how much this will be based on past performance. Since you're single, utility usage will probably not vary from year to year, although you may find that winter and summer utilities are higher due to heating and cooling costs.
Compare the costs of moving companies. The cheapest way to move is to load things onto your own truck or rent a truck. However, many larger pieces of furniture require at least two people to carry, so if you're single, you will have to call in favors from your friends. Alternatively, you can call a moving company. Some companies will pack your items for you, but this comes with extra fees.
Factor in travel costs, if you're moving far. This can includes airfare or gas and hotel stays, along with food.
Consider the cost of packing materials. In some places, you can walk into a grocery store and pick up boxes for your move. Other times, you may have to purchase these items. You may also need to buy packing tape and bubble wrap to keep fragile items safe.
Factor in an additional 10 percent for unexpected costs. Moving is almost always more expensive than you think it's going to be. For example, if the moving company takes longer than the estimate, you'll have to pay additional money. Planning for this ensures that it won't be much of a financial burden for you.
Tips & Warnings
- Selling or donating items that you no longer need before moving can reduce your costs by lightening the load.
- Past utility bills
- Relocation.com: Moving Budget -- How Much Is This Going to Cost Me Anyway?
- Penske: How About an Easy Move
About the Author
Maggie McCormick is a freelance writer. She lived in Japan for three years teaching preschool to young children and currently lives in Honolulu with her family. She received a B.A. in women's studies from Wellesley College.
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