Home Buying & Selling
August 11, 2022

How Moving Costs Affect Your Finances

Estimated read time: 3 minutes

Many first-time homebuyers are often focused on saving money for a down payment or closing costs. While these are important expenses during the homebuying process, some people often forget costs associated with moving. Factoring in these costs ahead of time will help you budget appropriately and transition to your new home without additional anxiety.

How Moving Costs are Determined

Moving costs often come down to two factors: distance and the number of possessions you have.

Distance You’re Moving

Travel fees can add up quickly when moving long distance. Knowing the distance to your new home will help you estimate fuel and labor costs. Remember, not every location is the same! A move across town may take more time and money in one location compared to another. Be sure to factor in if you’re dividing your move into multiple trips to your new house.

Size of Your Move

Generally, the more belongings you have to move, the more expensive the move will be. Specialty items, such as large instruments, valuable artwork, or antiques can also cost extra from the specific materials and skills required.

Packing Services

If you are unable to pack your own items, you can utilize movers for a price to perform this service for you. Any other moving add-ons you choose to include will also affect the cost. This could mean disassembling and reassembling furniture, moving specialty items, and moving supplies provided by movers. If you utilize movers, many companies will require you to purchase liability coverage.


If you’re downsizing or dealing with a complicated move, you may wish to utilize storage facilities. Storage rates vary from company to company so you may wish to ask around in your local area.

Weekend Rates

Moving during the latter half of the week or during the weekend can affect your moving costs dramatically. Moving tends to be busiest during the final weekend of the month, therefore making it more expensive.

Ways to Save Costs

Now that we’ve outlined some costs to expect, here are some suggestions on how to save yourself time, stress, and money while moving.

Take Care of Unwanted Items

The math is straight forward. More items divided by more people to move those items equals more money out of pocket. When packing, think consciously of how often you use items. Do you have a “junk box” that contains things you never use? They most likely aren’t needed. You can sell your unwanted possessions at garage sales or thrift stores. Items that aren’t sold but are still in good condition should be donated.

Finding Packing Supplies

The more supplies you can find on your own, the better. Instead of purchasing boxes, packing tape, and protection materials from a moving company, many local stores, such as supermarkets or retail stores, will allow people to have their boxes for free. When using these resources, be sure you speak to a manager first to get permission from the store. Using old newspapers or recycling packing peanuts from packages you receive can be a no-cost packing material for fragile items.

Avoid Busy Moving Days

Weekdays are typically less expensive when it comes time to book a moving company. Many homebuyers book moving companies on Thursdays, Fridays, or over the weekend. Moving companies tend to charge higher rates on busy days. You could save between 20 to 30% of your moving costs if you choose to move on less popular days, like Mondays, Tuesdays, or Wednesdays.

Do it Yourself

If you’re able, do as much as possible without the help of hired professionals. Recruiting your friends and family to pack, transfer, and unpack boxes and furniture could save you from using movers all together.

One Step Closer to Your New Home

Now that we’ve outlined moving costs and ways you could save, we hope you feel more prepared and excited to move. If reading this gave you the itch to live somewhere new, contact us today. One of our experienced and Licensed Loan Originators will work closely to help you move into the house of your dreams.

Ready to get started?

Homestead Funding offers exceptional customer service and a convenient mortgage process. Whatever your financing needs, our goal is to exceed your expectations.