Learn How To Estimate Your Moving Costs

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Calculate Your Moving Costs

Learn How To Estimate Your Moving Costs

Jun 10, 2020

Moving to a new home is not only emotionally and physically taxing, but it is a financially draining process. Without proper financial planning and with poor budgeting, many people suffer the consequences of spending more than necessary or not having enough money for completing crucial tasks.

Therefore, besides creating a moving checklist, getting packing supplies, booking Brisbane removalists, complete formalities, and taking care of other moving-related tasks, it is imperative to learn how to estimate your moving costs.

Here is a complete guide by experts to know how much you should expect to spend and how to save for the move.

Consider the Factors that would Require Money

While creating your budget considering all the factors and activities that will cost you money during the move is essential. To know the elements analyse your move first to know if you would do it yourself or seek the assistance of professional Brisbane removalists. Furthermore, consider the costs of the following.

The scale: It is essential to determine the size of your move by checking how much the moving load is. Small scale moves will be less expensive, but moving with a family will make your relocation more challenging and costly.
Packing: Are you planning to pack your belongings yourself or take the assistance of professional Brisbane removalists? How much do you need to spend on packing supplies?
Conveyance: Many people make the mistake of not counting the cost of public transport, fuel, hiring moving truck etc. for travel and load-moving purposes.
Distance: Is your move local, interstate or international? Considering the distance is crucial for cost estimation.
Storage Requirements: If you are moving interstate or locally, there may be a need for renting a storage unit or facility.

Get Free Quotes from Removalists

To know what the cost of hiring professional Brisbane removalists is the best approach is to research and shortlist the companies with good market reputation and reviews. You can check their websites to learn how to generate free quotes.

Companies can generate rates by providing an online form to fill, or you can contact them and get a quote from their sales representative. Either way, the prices help estimate the cost of seeking the assistance of Brisbane removalists and create your budget accordingly.

Moving Insurance Costs

There are three types of moving insurances that tenants and homeowners planning to shift to a new home may consider. The first is limited liability insurance which is the most economical option, but it offers the least amount of coverage. The second and third options are released value protection and full value protection that provide coverage of varying degrees.

According to your budget, moving distance, and other factors, you may choose an insurance policy. Always remember, the higher the coverage, the higher the premium you will have to pay. Also, personalisation and additional services will cost more.

Note: You can get coverage in case any item(s) is lost or damaged by hiring reputed Brisbane removalists since most reliable companies have insurance. However, the cover is low, which is why it is better to have personal moving insurance that is customised to meet your requirements.

Seek Assistance Online and Offline

Not good at calculations? Don’t worry because help can be sought from family members, friends, or professionals in Brisbane who are good at estimating costs for a variety of activities like relocation, holidays, events etc. You can schedule a meeting with the person who is helping to discuss things that need to be completed for the move and create a budget.

If this option is not viable, another way to chart the expenses is to find reliable online budget calculation platforms and share the details of the move. In addition, be active in online forums where people planning to move or have moved discuss tips for estimating the costs of moving.

It would be excellent if assistance can be sought online and offline for making a budget that covers all costs and gives you reliable estimates.

How to Save for the Move?

If you are unaware of the right way to save money for the upcoming move, it can be hard on your pocket. For people planning to relocate to a new home, whether rented or bought, it is essential to have a plan and start preserving the majority of their income.

The usual budgeting rule should be 50-30-20, which is half of your earnings after tax deductions should be spent on things of needs such as food, essential items, etc. Out of the rest, 30% is for spending on luxury or desired items and activities you wish to do.

Lastly, 20 % should be saved. This budgeting rule should be tweaked to save maximum income a few months before the move. Your focus should shift to spending a little as possible on luxury items, things that can be avoided, activities that may be postponed etc.

Another way to save for the move is to declutter your property to find things members of the household don’t need and are in good condition. These items can be sold by conducting a garage sale. During the garage sale, make sure to price everything and be open to negotiating the rates.

According to experts in Brisbane, the general rule of pricing is 50% of retail rate for reasonably new items, 25% for things that are a few years old, and 10% for other items. The money generated from the garage sale can be used for paying for moving-related expenses.

Wrapping Up

Moving is a time consuming, hectic and challenging activity that leaves the people involved in the process mentally and physically drained. However, a major impact it has on the people is financial because there are many moving-related expenses they have to bear.

The risk of losing your entire saving is significant during a move, which is why learning how to estimate moving costs is imperative. If you are planning a move, through this guide, you can gain valuable insights on hiring Brisbane removalists, saving for the move, and calculate your moving costs.