Financial Moves: The Real Cost Of Moving

Save to notebook Email article Print article More articles

By Mia Bolaris-Forget

While you’re planning on moving ahead, the cost of moving can very well be moving you (financially) behind. If the cost of moving is simply not moving you, consider the hidden fees that may just pack on the dollars to your original (and often anticipated) quote.

· Additional supplies, such as that much needed hand truck, that you forgot about

· Last minute packing may mean idle hands, at least for the hired help…which means YOU are paying them for standing around doing “nothing” while you tend to final details.

· Taking time off from work to pack, load or drive the (moving) truck may mean a loss of salary, sick days, or vacation time, that may prove more costly than hiring professionals to do the job.

· Munchies for your hired help. If you haven’t factored that into your total cost, you may want to recalculate. Having a few handy snacks and beverages on hand is not only a nice gesture, but has been shown to boost morale.

· Tipping workers is also recommended. You may choose to give one lump sum or tip each individually. Either way, you’ll need extra cash on hand.

· Hourly paid employees may try to milk as many hours out of a job as possible.

· Packers paid by the job may have a tendency to rush and therefore be neglectful with your possessions. Besides breakage and damage some items that may require assembly may be fashioned together in a poor fashion or not at all.

· Friends and family may take advantage of your relationship and you could lose time and money. Some may also be negligent with your merchandise leaving you with damaged goods not covered by insurance.

· Home Improvement costs could also be part of your move. You may find that your new residence has some unexpected surprises to offer. If it’s a rental, you may be entitled to some rental compensation to cover the cost of the damage, a new home makes the responsibility all yours.

· Injuries can result in medical bills, therapy expenditures and in the worst case, a lawsuit.

Do It Yourself:

· You’ll need to purchase truck insurance because most car insurance plans do not cover rented moving vehicles. Keep in mid that truck insurance only covers damage to the vehicle, not the contents, and neither does your homeowner’s insurance as long as they (your goods) are in transit. So, you may also need to buy a rider to insure your belongings.

· Driving can be costly, especially with the price of gas these days….but if you’re driving, YOU’RE also the one responsible for fueling up.

· Long distance hauls should include the other costs of long-distance driving such as tolls, hotels, eating establishments, etc. If one person is driving the truck and the other a car, you may also incur the cost of a two-way radio for the trip or additional minutes on the cell. If you have children, there require plenty of extras such as snacks and activities to keep them occupied.

· Older vehicles may break down, burn more gas, or require more time to arrive at your destination. This could mean repair fees, more gas money, and perhaps more hotel stays.

· Breakdowns could also mean the need to hire a towing company or a moving company. Even if the movers breakdown, it could mean wasted time and money, as you have to cover additional hours, gas mileage, etc.

While nothing in life is perfect, one way to perfect your moving skills is by doing your homework. Count on hidden costs, plan ahead and prepare for spending more than you bargained for.