5 Ways to Save Money When Moving Homes
Moving is a hassle that takes up your time, energy, and money. Nobody enjoys the process, but once the move is finished you’ll feel a lot better. Preserving your money when moving is important if you are living on a budget or just spent the majority of your savings on a down payment on a new home. There are a number of ways for you to save your money when moving to a new property. Let’s go over a few of them.
Do all the packing yourself or with friends and family
Packing things up is a tedious task that requires many hours of work. The first thing you’ll need to do is organize all of your belongings into different categories. From books to financial records, to electronics and easily breakable objects, the last thing you want when you finish moving is being confused about which boxes hold what.
Get your friends and family to help out if they have the time as it will save you many hours of your own time – or hundreds of dollars in labor from a moving company. Label boxes with a marker so you know what each one contains, and bubble wrap any objects that you consider valuable or could break if not handled delicately.
Want to save even more on packing costs? Consider going to grocery stores or liquor stores and picking up some of the free boxes laying around. When you’re on a budget every dollar counts, so consider balancing your time with the amount of money you’re willing to spend on the move.
Buy a home without a Realtor
Buying a home without using a Realtor is a risky move, yet could be the right decision for you depending on your situation. The ability to search the internet for properties and negotiate with Realtors yourself can be daunting, but if you are successful in your journey then you will up saving thousands of dollars in commission fees.
However, this is easier said than done – especially in competitive real estate markets like New York or Toronto, Ontario. There are some companies online that work like real estate agents but don’t charge the usual commission fee.
For example, InstaOffer is a company based in Toronto, Canada that allows you to make bids for homes directly from their website. The Realtors who work at InstaOffer do all the negotiation for you to make sure your offer gets accepted and will review any contracts to make sure you aren’t getting taken advantage of.
You only have to pay them a flat fee of $5000 instead of paying your real estate agent’s commission (which will be a way higher price). This means that the more expensive the home you’re buying, the more money you are going to save using their service.
Buying a home without a realtor is a dangerous game though, since you may end up buying a home with issues unbeknownst to you. This could include faulty wiring, loud neighbors, airplanes flying over your home daily, or an insect problem.
Many of these issues take time and money to investigate, but a real estate agent can guide you through these problems and make sure you don’t make a mistake on your purchase.
Book a moving company during the non-peak season
Many people don’t know this secret, but moving companies tend to increase their rates in the spring and summer because things get busier. Many people are trying to move during the warmer months, so take advantage and move during the fall or Winter.
Give a few different moving companies a call and ask what their moving rate will be if you book a few months in advance and want to move during the off-season.
Depending on the size of the moving company, you may be able to negotiate a cheaper move for giving them notice and providing them business during the months when things slow down. To try to save even further when booking a moving company, negotiate moving on a Tuesday or Wednesday since weekends are busier times.
People typically work full-time during the weekdays so moving companies may be more compelled to lower their fees for you if you book at a time when business is slow.
Sell or give away things you don’t need
This should be done at least weeks before your move date to avoid any stress. You may have hundreds of dollars worth of electronics, books, furniture, or other things in your home that you rarely ever use.
Make the most of these items that you will never use and sell them on sites like Kijiji, eBay, or Craigslist. You can also trade them for other items using Bunz. The less stuff you need to pack the better, as it will save you money on moving costs and organizing things.
You’ll also have more space available in your new home once you move in. Use the money that you earn from these items toward hiring a moving company. For the items that no one wants to buy, either donate them to charity or leave them on the sidewalk for others to pick up.
Hoarding is a bad thing to do when it comes to moving. The lighter the load the better.
Move everything yourself
If you are really trying to conserve your money when moving then consider renting a moving truck. You will save hundreds of dollars on hiring a moving company, but you’ll have to be prepared for what comes with moving everything yourself. Big items like couches and large televisions require at least 2 people to move, so you’ll have to ensure you have a physically capable friend or family member to help you out.
The whole moving process will be twice as stressful, but it may be worth it if your budget is tight. You’ll probably be sore the next day and may injure yourself during the move, especially if you live on the upper level of an apartment or condo, so be careful.
Remember, asking a friend to help you move is a big commitment, so be sure to repay them in some form or another. Follow these tips and we’re sure you’ll save hundreds, if not thousands on moving costs.