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How to Accurately Calculate the Real Cost of Moving

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Last Updated on March 22, 2020

People are often surprised to discover how much moving truly costs when the total net cost of moving to a new property is considered. When you move to a new home, you will have to hire movers, cleaners, real estate agents and a broad range of other professionals who you will need to rely on. You may even have to pay fees to terminate your lease or mortgage early, and there may be additional costs associated with your new residence. As a result, it is important for you to accurately understand what moving will cost in your situation so that you can avoid being caught off guard with costs that exceed your budget.

People are often surprised to discover how much moving truly costs when the total net cost of moving to a new property is considered. When you move to a new home, you will have to hire movers, cleaners, real estate agents and a broad range of other professionals who you will need to rely on. You may even have to pay fees to terminate your lease or mortgage early, and there may be additional costs associated with your new residence. As a result, it is important for you to accurately understand what moving will cost in your situation so that you can avoid being caught off guard with costs that exceed your budget.

Real Estate Agent Fees

You will usually have to pay at least around 3.5 percent of your home’s value to a real estate agent who helps you sell your property. You may also have to pay a similar amount to a buyer’s agent who helps you find your next home. Many people who move fail to account for the cost of a real estate agent, but the reality is that real estate agent fees are an unavoidable expense associated with moving to a new home.

Cleaning Costs

Unless you plan to hold on to your old home, you will need to get your home ready for the next owner. If you are selling your home, it will be important to have both the interior and exterior of your entire property thoroughly cleaned. The cost of having the interior of your home cleaned will depend on its size and the amount of cleaning that will be needed. To find out how much does moving out cleaning cost on average, you should talk to a reputable home cleaning company in your area. They can provide a reliable quote that can be used to more accurately assess the real cost of moving.

Cost of Repairs and Improvements

You may pay around $2,500 to have your home professionally painted to increase the marketability of your property. There also will usually be some repairs that you will have to make in order to satisfy city inspectors or your landlord. Some repairs are inexpensive, but other repairs can cost thousands of dollars. Finally, you may need to make some improvements to your property to make your home more attractive to buyers. Although you may get a return on investment from some home improvement projects, upfront costs could exceed your budget.

Cost of Movers

The high cost of hiring professional movers is one that prompts many people to handle the moving by themselves. However, there are situations where it’s simply more feasible to hire movers. Labor costs are generally around $25 per hour per mover. The amount of belongings that you have in your home ultimately determines how many labor hours will be required. On average, a team of three movers takes about eight hours to pack up the belongings in a two-bedroom apartment. Of course, these costs have to be doubled since your belongings will have to be unpacked at your new home.

Cost of Transportation

Additionally, you will have to pay the cost of transportation, and movers generally charge transportation rates of around $3 per mile. If you are traveling 1,200 miles to your new home, therefore, your transportation costs would be around $3,600. With careful planning, you can sometimes bring down the cost of long-distance transportation by having movers pack your belongings into shipping containers that are less expensive to haul long distances. In all, the total amount that you can expect to pay a moving company if you are moving 1,200 miles away would be around $4,000 to $6,000 in most cases.