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09 Nov, 2020
Step By Step Guide To Create A Realistic Moving Budget

Planning and organising an entire relocation process can save you from last-minute chaos and unnecessary expenses. Apart from sorting household items and packing valuable items, make sure you also set a realistic moving budget. This will help you track all your expenses involved in a move so that you can plan things according to your estimated budget.

Whether you are moving next to the street or across the new state, it is imperative to focus on keeping a close eye on all types of costs, including the hidden ones. From arranging the right packaging boxes and supplies to hiring a reliable company for stress-free removals in Sunshine Coast, you need money as well as proper financial management skills.

To make things easier for you, we have compiled a step-by-step guide that will allow you to prepare a realistic budget for your next relocation. All you need is a positive mindset and a little bit of patience. This will also help you save a few extra dollars at the end of the day.

Let’s Get Started!

1. Prepare an Inventory List

The first step is to creating a moving inventory to help you decide what’s moving to the new house or not. It is good to sort all the household items at least 8 weeks prior to your move. Purge out unnecessary belongings, such as kitchenware, clothes, shoes, gym equipment, etc before packing your stuff.

For calculating the estimated moving budget, you need to inspect room by room to create an inventory of all the belongings you are planning to take along with you. Check all the items and include in a list to know the estimated cost.

2. Create a Moving Budget Template

You can either create a budget template on a computer or laptop using software or jot down all the possible moving expenses on a sheet of paper. For quick and error-free calculating, it is good to use the Excel.

Consider the following tips while creating a moving budget template on the system:

• Add the Category, Estimated Cost and Actual Cost on columns in the top row.
• Add the expenses listed below in the category section
• Write down the estimated cost of each task, such as the estimated cost of all the necessary packing materials, etc.
• After filling all the categories, create a row and name it as Subtotal.
• Sum up all the estimated and actual costs.

This will help you create a realistic moving budget.

3. Determine the Cost if You Are Hiring Removalists

There is a myth that hiring removalists is an expensive deal. However, this is not the truth. Proper research can help you avail the high-quality service at the affordable rates. The best thing is that movers can sometimes save you money by protecting your precious belongings and saving your precious time. If you have decided to hire professionally-trained removalists in Sunshine Coast, then determine the potential costs for better clarity.

It is important to know that most moving companies calculate the cost depending on the distance of the move and weight of the household belongings. However, there are certain things you need to consider:

Base rate or moving fee: Many service providers begin with a base rate. This is the cost that all their customers pay despite the weight and distance.

Speciality Items fee: This includes heavy furniture, such as pianos, pool tables, and fragile items. Many companies ask you to pay extra depending on how fragile they are to relocate.

Moving insurance: Most companies offer valuation, which acts as insurance for your belongings to protect them from damage during the transition process. You are compensated if the removalists damage or lose your things. However, they won’t charge you for basic coverage, but you can get complete coverage.

Packing Services: If you want to keep your precious belongings intact, then you can avail professional packing services. Since it is not covered in a moving service, ask for a quote so that you can determine the cost.

Storage Fee

Many people don’t have enough space in their new homes, and that’s why they avail storage facilities to keep their belongings in a safe and sound warehouse. If you want that service, then ask them everything about the storage fee.

Here, you can also save money by hiring the professionals ahead of time. Instead of moving in peak hours or days, choose the day wisely and save money. You can pack your belongings on your own if you are under a tight budget.

4. Create a Budget for Self-Moving

If you are planning to do it yourself to save money, then you need to consider some key factors that can determine the overall moving cost. Here is the list of things you need to include in your moving budget template:

Truck Rental: Since you are not hiring professionals, you will need to arrange the right size of a rental truck. The cost will be determined after evaluating the distance of your move and size of a vehicle you need.

Mileage/Gas: Believe it or not! You need to arrange money for mileage or gas so that you can transit your belongings from one place to another. So, don’t forget to add this cost in your moving budget.

Rental Equipment

You also need to buy moving equipment, such as moving dolly, etc on rent if you are moving on your own.

Storage fees

Storage units are available with monthly fees, and you will have to buy a space on rent. You may also have to pay a security fee- which may cost you higher.

5. Expenses on Packing Materials

It is good to invest in quality packing materials for a safe and sound transition of your belongings. So, creating a moving budget depending on the cost of packing supplies can make things super easy. Make sure you have:

• Cardboard boxes: arrange old cardboard boxes to save money.
• Packing tape
• Packing paper
• Bubble wraps
• Mattress covers, etc.

Endnote:

It is difficult to calculate the precise cost of home relocation. With the help of this guide, you can create a realistic moving budget depending on your specific needs and other factors. After calculating the budget, you can hire the most trusted moving company for the smooth removals in Sunshine Coast.