How to Financially Prepare for Your NJ Move
You probably already know that moving isn’t cheap, even in New Jersey. Simply finding a new apartment requires you to take time off work and travel to different locations. On top of that, once you do find your new place, you’ll have to put down the first month’s rent, security, and potentially a broker’s fee all of which can cost you thousands of dollars. This doesn’t even cover the cost of hiring professional NJ movers!
The process of moving requires a lot of steps from packing to moving over your utilities and health information over to your new location. It’s easy to get overwhelmed and forget a few things. If you’re overseeing the moving budget, it’s all too easy to get caught up in the big cost of hiring New Jersey movers or, if you’re doing it yourself, getting a moving truck. However, there are a lot of small details that might fall through the cracks and could end up costing you hundreds or even thousands of dollars! Below are some of the most common costs of moving to consider.
Costs of Moving
In order to financially prepare for your local move, you’ll first need to take into account all the costs associated with the move. This includes things that might seem obvious, but many people often forget to include such as:
- Moving Supplies – If you purchase all of your moving supplies, you might be in for a surprise as the total can add up quickly. Think about it, you have to get boxes, packing tape, packing peanuts, bubble wrap, and more for all of your belongings. Luckily, you can mitigate these costs by getting free boxes from friends, family, stores, and even browsing your local Facebook groups.
- Cost of travel – Whether you’re traveling by plane, train, or automobile you’ll need to factor in how much it will cost to get from your current home to your new one. A train might seem reasonable, especially if that’s how you normally commute. However, during a move you’ll probably carry a few important documents and fragile items with you, so you may end up having to take a taxi or renting a car.
- Storage – If you can’t move into your new place immediately or if you just overestimated the size of your new apartment, you’ll need to look into potential storage options. NJ Great Movers offers secure and affordable storage, but you can also opt for other companies! The smaller storage lockers you need, the cheaper it will be.
- Moving Insurance – Yes, professional movers offer basic insurance, but this only covers $0.60/pound for any damaged or lost items. If you own a lot of expensive electronics, artwork, or fine china, you’ll want to splurge for full insurance from third party vendors so you can get the full cost back to you if something happens.
- Rebuying furniture and/or groceries – Chances are you probably threw out some old pieces of furniture and whatever groceries you weren’t able to eat or pack. In addition to the standard moving costs, you’ll also have to factor in how much you’ll need to spend to replace the old food and furniture that you tossed.
- Utilities – You may end up paying double for utilities because you didn’t shut off your utilities services in time. Make sure to check your billing cycle and cancel what you don’t need beforehand. While it might not be doable with your electricity bills, you can definitely turn off your cable and internet before you move to your new place. Speaking of utilities, some companies might also require a deposit when you first move into your new apartment in order to turn on your service.
- Pet boarding – if you have pets, it might be a good idea to find a place to board your pets so that they’re not dealing with all the stress of moving day. Depending on where you live, this can run you up to $40-60 a day!
Create a Budget Before Your Move
Many people ask whether they should hire professional movers or rent a truck and do everything themselves. The answer to that question depends on your budget. In general, the DIY route will be cheaper, but it will also take more time and you could damage your belongings or yourself during the move. While hiring professionals does cost more, it also means you are not at risk of injuring yourself and your fragile items are less likely to break.
In general, professional movers range in price depending on how much you will move. In general, the average cost of an in-state move is about $2,300 while the average cost of an interstate move is about $4,300. The farther you travel, the more expensive the move as professional movers charge hourly for their travel costs. And don’t forget the tip for the movers!
With that baseline number in mind, look up the cost of packing supplies, furniture, and anything else you will need during your move. Depending on the size of your move and whether you need storage or not, you could be looking at a budget of almost $10,000. When coming up with the final budget, it helps to spreadsheet and write out each line item. This way you can see where you might be able to slash costs. One easy way to save money when using professional movers is to pack and disassemble everything yourself. Since most movers charge an hourly rate, the less they have to do, the cheaper it will be for you!
Save, Save, and SAVE
Sometimes you might need to move out of your apartment immediately so you can’t really make any plans. In cases like these, you might need to take out a personal loan or ask friends and family to help out with the costs whether by pitching in some money or enlisting them to help with the manual labor of packing and moving. However, if you do have some time to consider your move, you should do your best to save. Again, moving isn’t cheap so you’ll need to set aside some money to make sure you can cover all the necessary costs.
Moving out of an apartment isn’t quite the same as moving out of a house. In general, renters don’t start looking for an apartment until a month before their lease runs out. After all, most brokers want to rent empty apartments as soon as possible and won’t hold an apartment for you, unless you plan on paying two rents.
With that said, if you already know you won’t renew your lease a couple of months before it expires, you should start setting aside some money. Maybe that means being super frugal for three or four months and cancelling whatever memberships you don’t need. Or it could mean selling off some items that you no longer use on eBay or Craigslist. You can also start collecting boxes from friends, family members, or local stores to cut down on your moving supply line-item. If you have extra time and a talent such as writing, art, etc. see if you can make a few extra bucks on the side. You can also save money after moving by buying used instead of new. There are plenty of people trying to get rid of old furniture and even clothes. Just make sure that they’re in good shape before you buy and give everything you purchase a good wash and sterilization before you bring it in your home. Essentially, you need to do whatever you can to make sure you have all the money you need before you move so you don’t have to put everything on a credit card.
Take Out a Personal Loan
If you end up short of your budget a month before your moving day, consider taking out a personal loan instead of charging your credit card. Credit cards have obscenely high interest rates with some as high as 36%. Personal loans offer much lower rates depending on your credit history with some as low as 3%.
Of course, you’ll need to do your research. You should try to avoid peer lending companies as you will end up with variable rates depending who chooses to give you the money. Other lending companies might not be available in your state or might have to charge additional fees due to your location. Still, it’s worth it to look up every option available as you will save a significant amount of money over time with this option.
If you can’t get a personal loan, consider opening up a new line of credit. Many credit cards offer an introductory 0% APR for the first year. This is a great option if you know you are able to pay off the balance in one year. Depending on your credit card score your credit card limit could be between $2,000-$10,000.
Moving might not be cheap, but it doesn’t have to break the bank either. So long as you spend some time planning and saving up money for your move, you should be able to find a way to finance your NJ move.
One of the best ways to save yourself time and money is to hire a NJ moving company like us to help you! We provide excellent service at affordable rates and can save you a lot of time and reduce the stress of moving. Make sure to contact us today!
Should I hire professional cleaners when I move out to make sure I get my security deposit back?
Leaving your apartment a mess could affect how much of your security deposit you get back from your previous landlord. If you have time and confidence in your cleaning ability, you can always clean it yourself. If you don’t, you should definitely hire a professional. While you’re at it, hire a pro for your new home too!
Does NJ Great Movers provide moving supplies?
Some items are included in the move such as two wardrobe boxes for your clothes and moving blankets. If you need us to pack your belongings, we do charge a materials fee for the supplies.
How much does NJ Great Movers charge for a move?
It depends on the size of your move. You’ll need to contact us to get a quote. Make sure to include as much detail as possible so we can give you an accurate estimate.