5 Tips For Lowering Moving Costs

It is an exciting time when you are moving to a new home, but also an expensive time. If you just purchased a new home, your finances can be strained from the process.

The final step of moving your belongings into your home can also put a hefty dent into your bank account if you are not careful. Here are five tips to lower those moving costs to keep you within your budget.

#1 Downsize Your Belongings

Regardless of whether you are packing and transporting your items yourself or hiring a moving company, reducing your belongings can save you money. Before you begin packing, it is a good time to thoroughly thin out anything you no longer need. Some items that should be on your list to reduce include:

  • Old clothing: A good rule of thumb on clothes is whether you have worn it in the last year. Except for formal wear, most likely, if you have not worn it in 12 months, you don’t need to keep it or spend money to move it.
  • Items still packed from your last move: Do you have boxes of items that never were unpacked after your last move? It may be time to let these items go to charity or sell them in a garage sale.
  • Large items: Have you been planning on upgrading your bed or couch? Don’t move large items that you plan to get rid of in the next few months. Now is a good time to let them go and save on moving them to the new home.

#2 Earn Money from Your Downsizing

Help reduce the money out of your pocket for your move by selling or donating the items you decide not to bring with you. A large garage or yard sale is a great way to make some extra money for your move. For higher priced items, consider selling online or through a consignment shop that will give you more money for your valuables. Anything left after the sale can be donated to charity for a deduction on your taxes. Make sure to get a receipt for your donation.

#3 Save on Packing Supplies

Boxes, tape and bubble wrap can all add up to a pretty penny when you are moving an entire household. Save some money on this part of the process by not buying your supplies from a moving company. There is usually a substantial markup for moving supplies through rental and moving companies. Instead, visit some local retail stores to ask for free cardboard boxes. Most of these stores get shipments weekly and throw their used boxes in the recycling. They will often give them to you for free, you just need to ask. Buy your packing tape and bubble wrap from a discount retailer for extra savings.

#4 Pack Your Belongings Yourself

One of the obvious ways to save money is to pack your belongings versus hiring a moving company to pack them for you. If you plan ahead of time, you can begin packing weeks in advance. Start with items that you will not need to use in the next few weeks such as seasonal items, clothing and memorabilia. Stack the boxes carefully in your garage or an open room near the front entrance to make it simple to move them when it comes time. Get as much packed ahead of time as possible to make it easier during the last final days when all your daily use items must be packed.

#5 Saving Money Off Moving Companies

If you have decided you are not comfortable transporting your belongings or are not able to move your heavy items, you will need a moving company. Although this can cost a bundle, there are ways to save. One way is to use a moving company that lets you pack the storage unit, then just transports it to the new location, where you unpack it. This may be a good option for those moving out of state that don’t want to haul their items hundreds of miles down the road.

For full service moving companies, save money by getting several quotes from competing services. You may be surprised how big a difference in prices there may be, especially when the companies know you are getting quotes from their competitors.

One other way to ensure you have enough money for the move into your new home is to save money off your mortgage. Talk to one of our lending experts at Galaxy Lending Group if you are planning to buy a new home to get the best rates on the loan for your new home.