Moving? Eliminate Moving Expenses!
By: Ian Golightly MBA, Realtor
Table Of Contents:
- 1. Timing Is Everything
- 2. Shop For The Best Rates Locally
- 3. Go DIY and Pack Yourself
- 4. Get Tax Reductions
Are you moving to your dream home or relocating across several states for a new career? If this is your first time please brace yourself with the costs associated with moving. Personally, I have moved from the Midwest to the south and then back to the Midwest. In the event of moving to different states when you have a household of stuff, it is stressful because it is not easy and it is not cheap! But please read further because I am going to share with you how you can reduce moving expenses.
If you are not going to sell everything or leave everything behind, expenses are unavoidable. The great news is that you don’t have to break the bank. One of the most common Tactics is by shopping from local deals but if you really want to save money you have to use every single opportunity that you can to reduce expenses.
Timing Is Everything..
We hear this from time to time but it’s true that timing is everything when it comes to moving statewide. The first step to cutting expenses is having an exact known date on when you were moving because professional moving companies usually charge more during the months of May to August because it is usually considered their peak season.
If you’re moving Between the months of September and August you are more likely to get a better deal on prices. In most cases, it is cheaper usually to move during the mid-week versus the weekend.
Shop For The Best Rates Locally
You should have a few moving companies around your area to do a little shopping on prices. If you decide to move during a non-peak month you may find yourself getting a discount on top of a cheaper price as a strategy from the moving company during slow months. For long-distance moves, Cost is usually determined by the weight of the move. One tactic that you could do to reduce prices is to sell some of your things through the Facebook marketplace or Craigslist. if you want to write something off your taxes you can donate to Goodwill or the Salvation Army.
If you’re able to minimize and bring the things that you need versus the non-essentials, you may be surprised at how much you’ll save from expenses!
Go DIY & Pack Yourself
Having the luxury to have a professional packer is the fastest and most convenient way to pack, but if your goal is to save money, doing it yourself or finding a creative way to get it done is one of many ways to save on costs. If you have friends or family that is nearby, they may be interested in helping you to move that will save you time and money. However, if you have something that’s valuable like a rare painting or antiques, you may be better off hiring a professional to make sure it is properly wrapped, secured, and ready for transport.
Getting free moving boxes will help reduce your moving expenses. I’ve achieved this by going to my local grocery store and asking if they had any extra produce boxes that I can have.
Get Tax Reductions
You’ll want to talk to an accountant, but you may be eligible to get a tax cut. If you are moving to a new home because of work-related reasons you may be qualified your movie cast is a federal income tax deduction. However, for reassurance, you should talk to a licensed CPA. You’ll want to save your receipts in case you are eligible.
Contact us if you are looking for a well-respected CPA in the St. Louis area.
There are many other ways to save when moving to a new place. The tips here are the ones that I’ve used in the past and were most effective. Every situation is different, so you’ll always want to remember to plan ahead and compare prices if you are going to use any type of moving service.
PS- Bonus! If you read all the way down here.. The most effective tip is to ask your employer if they will cover any expenses. I’ve seen employers who have relocation incentives in the few thousand dollars that could help buffer moving costs.