Moving to a new home can be stressful, especially when it comes with unexpected costs.
It's a common problem, too: 53% of Americans who moved in 2023 say their total moving costs were higher than expected, according to a recent survey of 2,000 Americans by Clever Real Estate, a real estate brokerage.
Based on the findings, the approximate median cost of moving is "very close" to $2,000, according to Clever's data analyst.
Just under two-thirds of movers used a professional moving company. Those who did were twice as likely as do-it-yourself movers to spend at least $2,000.
While hiring professional movers can be expensive, there are other easily overlooked costs to consider as well, even if you take the DIY route. Here's a look at some of the common reasons why people underestimate moving expenses and what you can do about it.
Why people overspend on moving
A third of respondents who moved in the last year say they didn't budget correctly for their move.
This suggests they either underestimated or were not fully aware of the total costs.
One big expense is hiring movers: A local move for a three-bedroom house will likely cost between $600 and $1,000, according to an estimate by Consumer Affairs. However, those costs can increase based on the number of movers needed, how much stuff you have and the distance between homes.
Other commonly overlooked professional moving expenses include stair fees, heavy item charges and tips, according to the Clever Real Estate study.
Another thing to consider is how long it will take to move. If you're paying by the hour, underestimating the time needed could lead to a final bill that's more than you were expecting.
While professional movers can be expensive, the DIY approach still includes costs like renting a van, gas and packing supplies. Other moving costs to consider include deposits for utilities in your new home, installation of appliances or TVs, moving insurance and storage space if you've staggered the timing of your move.
How to reduce moving costs
If you're hiring movers, try to shop around and get multiple quotes from moving companies before you decide which one to choose. You can use these quotes to negotiate a lower cost or discount from your preferred moving company too.
When providing information for a quote, you'll want to be as accurate as possible about the number of boxes and furniture that needs to be moved. Forgetting to include something like a big TV could add additional costs for labor and extra packing materials, since TVs are large and easily damaged.
And to be safe, you might want to budget for a few extra hours of labor if you're using a professional mover that charges by the hour. Costly delays do happen.
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