How to Set a Moving Budget: Moving Budget Checklist

Can I afford to move home?

Well, without a list of moving expenses, you will have no idea, and even if you can afford it, it makes sense to have a grasp of exactly what your moving costs will be in advance.

Moving home can be expensive and costs can soon run away from you, and your home moving budget is blown easily.

So one of your first jobs when contemplating moving home is to create a moving budget.

You may also like to read: The Hidden Costs of Moving Home. In this guide, we share the most commonly forgotten expenses when moving home so that you can factor them into your home moving budget.

How to Create a Moving Budget Template

A simple Excel spreadsheet is the easiest way to create a budget template for moving.

You can then make use of the auto-sum features and add and delete cells as you need to.

A column for the item title and a column for the cost should be enough for a basic template, although you could go fancy and use some formulas to show when you go over or under budget if you also add an estimated vs actual cost column.

To help you determine the way you will move home, hiring a removal company vs moving yourself for example, it makes sense to have a list of all the associated costs with each of your options.

Some things may be cheaper moving yourself or it may be cheaper to hire a removal company.

A direct comparison of moving costs will be so much easier if the expense categories align on your spreadsheet.

For example, shop-bought packing boxes vs the cost of buying them from a removal company.

Alternatively, a notebook will do the same job, just not as conveniently, and you may need a calculator.

Here is a list of headings to compare:

• The first column will be a list of potential expenses by title such as:
• Transport – Van Hire
• Fuel/tolls/parking/parking permits
• Vehicle Insurance
• Packing materials
• Specialist packing
• Assembly / Disassembly service
• Furniture moving equipment hire
• Straps/holding bars for the hire van
• Hire of a ramp if no tail lift on the hire van
• Deposits
• Goods in transit insurance
• Floor protection
• Boarding for pets (if applicable)
• The babysitter’s cost for looking after the kids (if applicable)
• Storage (if required)
• Cleaning materials
• VAT – Ensure this is included in all the quotes you get
• The final line will be your total costs across all columns
• 3-4 Columns to list the prices quoted by the removal firms
• A column for expenses when moving yourself
• A column for a hybrid move such as packing yourself and hiring a company to load and transport

You may also like to read: The Pros and Cons of Every Home Moving Option. It may be useful for you to compare all the various ways to move home, and in this guide, we examine the pros and cons of each.

How to Set a Moving Budget

To make a home moving budget you will need to know all the costs you need to factor in when moving.

How you intend to move home: pack and move yourself, pack yourself and hire a removal company, or hire packers and move yourself, will determine what each entry on your budget list will be.

No matter how you intend to move, here are some essential things to know, and to consider the expense of, for each home moving option.

How Much Do Removal Companies Charge?

To be able to complete a proper comparison between the home moving options you will need to find out how much hiring a removal company will cost you.

Get 3-4 quotes from reputable removal companies and use the highest estimate in your budgeting spreadsheet.

You may also like to read: How to Get the Best Price From a Removal Company. By being flexible and thinking a bit outside the box you may be able to secure a better price for your home move, here we show you how.

Extra Removal Company Expenses to Consider

The initial quotes you receive will be for a basic service, loading, transporting, and unloading.

But there are add-on costs that you may need to factor in:

#1 Insurance. Your quote will likely include basic insurance but this will rarely cover the true value of any of your precious items. Ask the prices for enhanced insurance and check any policy carefully to ensure you are adequately covered.

#2 Standard packing service. Most people sensibly opt to include a professional packing service when hiring a removal company. Some removal firms offer free packing materials, others don’t.

#3 Specialist packing. If you have particularly valuable items you may need bespoke packing boxes or even packing crates made.

#4 Specialist moving equipment. If you are moving a piano or grandfather clock for example then these will likely attract additional charges as they will require specialist handling.

#5 Disassembly and reassembly services. If you want your furniture taken apart and put together again, that is going to cost you extra.

#6 Carpet protection. Some companies will charge extra for laying down floor protectors, so be sure to ask the question if that is included in the estimate or not.

You may also like to read: What Services Do Removal Companies Offer? Most removal companies offer a range of home moving services so in this guide we look at what those extra services are so that you can factor them into your budget if you need them.

How Do Removal Companies Calculate the Cost of Moving You?

When quoting you for a home move, the removal company will have used these criteria to determine the final price.

#1. How many things do you have to move? This will determine how big a lorry the removal company will need. The bigger the van, the more fuel it will likely use, and the more expensive maintenance, insurance, and associated costs will be.

#2 How far are you moving? The longer the distance travelled, the more fuel the lorry will use.  Add into that miscellaneous charges like tolls and parking permits.

#3 How long will it take to load? Do you live on the 10th floor of a block of flats? Is there a service lift, or has the lift got a weight restriction, which will mean more trips? How close can the removal van get to your front door?

#4 How long will it take to unload? That will depend upon the answers to the questions above.

#5 Is there a weight or width restriction in the village you are moving to? Does that mean that the removal company will need to use a shuttle van?

#6 Do you need a packing service? Do you have antiques, valuable, or fragile items that require specialist packing materials or will require additional packing time?

#7 Will specialist moving equipment be needed? Hot tubs, Grandfather clocks, and pianos are a few examples of things that may need specialist moving equipment.

#8 When are you moving? If you plan on moving on a Friday or weekend, this will cost more as it is the most expensive time of the week to move. Moving in the summer will usually incur a higher price too as it is the peak moving season.

#9 Are they a member of a professional home removal association? The removal company will incur extra costs as they must adhere to legal and training guidelines. However, it is an indicator of competence and professionalism that many people find reassuring.

#10 Remember. The removal company is taking all the risks, and any vehicle, goods, or property damage, they will be liable to pay for.

You may also like to read: 10 Sneaky Ways to Save Money Moving Home. In this guide, we share 10 unusual ways to save on your relocation costs.

Are Cheap Removal Companies Worth Considering?

A cheap removal company is usually taken as meaning an unlicensed man and a van out of the classifieds.

Whilst of course there are some excellent, legal, man and van services, before even considering such an option, you must be aware of the risks hiring just any old man and service can expose you to.

You have probably spent many years accumulating your possessions and spent a fortune in the process.

Your household goods, your possessions, may well represent your entire wealth.

Ask yourself this: Would you stop a random van as it drives past your house, give the driver a few hundred pounds to move your stuff to another address, and then let him drive off with everything in the hope he is honest?

Well, he gave you a mobile telephone number to contact him so it should be OK shouldn’t it?

Unfortunately, many many people are testament to the fact that it may not be.

And whilst we would all want a really cheap home moving service there are a few things to consider before hiring any removal company.

Ask yourself: Where will the cheap removal company save costs and how will that affect me?

#1 Are they a legal company? Being legal costs money, are they a legitimate company? Check that they are registered at Company House.

#2 Insurance. Do they offer any comprehensive insurance, or, just as unlikely, any insurance at all?

#3 Complaints. Is there a clearly set-out complaints procedure? What will you do if you need to complain or make an insurance claim?

#4 Packing. Do they offer a professional packing service? How are the packers trained? Can they prove that their packers have undergone training?

#5 Packing materials. Good quality packing materials are expensive. Are they using poor-quality packing materials that will not offer the same level of protection?

#6 Who will move your stuff? Does the removal company employ casual or seasonal labour, or are they fully trained members of staff?

#7 Where is the company located?  Is the business ran from a physical address or the cab of the van?

#8 Do they only give out a mobile number? Have they a landline and email address? Make sure you check them and that you get a response back.

#9 Does the company have a website? Whilst it is easy to set up a free website, it is also possible to track back an IP address if you are scammed.

#10 Do they have any reviews on a reputable review site? Knowing what other people think about the company is useful in determining if you should consider hiring them.

#11 How were you quoted? Did the removal come and do an in-home survey, or just quote you over the phone without seeing what items there were to be moved, or how difficult the move could be?

Beware, come moving day they could hit you with additional charges as they ‘did not know about such and such’.

#13 Have they planned your moving day? What happens if the van breaks down on moving day, do they have a plan B?

Getting answers to the above questions may prevent you from being scammed.

A reputable removal company will be able to answer all these questions, and, more importantly, be able to offer evidence to support their claims.

A cheap removal company is not always the most cost effective so choose your removal company carefully.

You may also like to read: Is Moving Home Cheaply a False Economy or Not? None of us like spending more money than we need to and there are some shortcuts you can take when moving home. But in this guide, we ask whether that is a false economy or not.

How Much Does it Cost to Move Home Yourself?

To properly compare costs and be able to complete your home moving budget spreadsheet you will need to factor in the following costs:

#1 Truck Rental

#2 CDW. It is worth taking out any additional insurance your van rental company offers you, a few pounds saved now can cost you hundreds should you have to claim.

#3 Fuel. Use a website such as www.theaa.com to calculate your mileage and fuel costs.

#4 Tolls and parking permits

#5 Packing materials. This will likely be one of your biggest expenditures as quality packing materials do not come cheaply. You can of course get free moving boxes, which will save you some money.

#6 Moving equipment. It will make it so much easier to move heavy and large furniture if you have the right equipment.

#7 Safety equipment. Plan in the cost of some good quality work gloves, it will make it safer and easier to move large and heavy objects.

#8 Insurance. This is important to know: Many insurance companies will not insure items you have packed yourself in transit. Check your policy carefully and take out extra insurance if you need to.

You may also like to read: Another 10 Sneaky Ways to Save Money Moving Home. In this guide, we share another 10 unusual ways in which you can money on your moving expenses.

Moving Home Myself – What is the Real Cost?

Logically, moving yourself rather than hiring a removal company will be cheaper.

But like many things, the cheap way is only cheap until it goes wrong. Here are a few things to consider about a self-move.

#1 Time. How long will it take you to pack your things, do you need to book time off of work? At the very least it may eat into your annual leave entitlement.

#2 Your ability. Are you physically able to move heavy boxes and furniture or go up and down 3 flights of stairs 15 times?

#3 Injury. If you cause yourself an injury during the move, can you afford to be off work?

#4 Van hire damage. Consider that if you damage a hire van you may face hefty charges.

#5 Property or item damage. Any damages you cause to your goods or your property, you will have to pay to repair.

#6 IMPORTANT. Most insurance companies will not insure items that you have packed yourself.

#7 Miscellaneous costs. Always factor in contingency costs as there is bound to be an unforeseen cost creep up on you.

#8 Stress. Impossible to put a price on but never underestimate the effect of stress that moving home causes.

#9 When should you hire a removal company? A student move, or moving without furniture, may be doable with the help of a few mates. Larger home moves are generally not suitable for self-moves.

You may also like to read: The Reality of Moving Home on a Budget. In this guide, I share what happened when I tried to move home on a budget and the lessons learned.

Things That May Blow Your Moving Budget

There are a few things that may blow your home moving budget and that you need to be aware of:

#1 Moving stuff that you no longer need

The more things you move to your new home the more your move is going to cost you. If you don’t get rid of all the things you no longer need before moving day you could easily blow your moving budget by needing more packing materials, a larger van, or incur extra hours for loading and loading.

#2 Not being truthful with your removal company

If you try to get a low estimate by not telling the removal company about all the things you have to move, come moving day your final bill may skyrocket. 

#3 Hiring an uninsured removal company

We have already covered this but it is worth repeating. Just a few damaged items could blow your home moving budget out of the water.

#4 Falling victim to a removal company scam

This cannot be repeated enough. Research and research again any removal company you intend to hire.

#5 Damaging yourself, items, or property

If you are moving home yourself you run the risk of hurting yourself and damaging your goods, and your property.

Consider this carefully as the costs could be incalculable for a back injury resulting in being off work for months.

You may also like to read: Things That Will Blow Your Moving Budget and How to Avoid Them. In this guide, we look at things people usually forget to factor into their home moving budget.

When calculating your moving costs always add in a contingency fund as there are often costs that soon bust your budget, underestimating the amount of packing materials you will need is the most common reason.

We hope you found this guide to making a home moving budget useful and be sure to visit our other guides for lots more useful information to make your home move easier, safer, and cheaper.