Moving comes with a range of financial implications. For example, you have to pay the moving company, buy new furnishings, make small repairs and modifications in your new home, finance new mortgages, and more. However, it doesn’t have to be expensive, and you shouldn’t spend more than is necessary.
The following tips will help you save money on your next move:
1. Negotiate Affordable Mortgage Rates
The mortgage on your new house will be the biggest expense when you move. You can save thousands of dollars on your new mortgage if you play your cards well. As such, try to negotiate for affordable rates that you can finance easily without straining your financial resources.
Your best leverage when negotiating mortgage rates is a strong application. You can strengthen your application by establishing a higher credit score, minimizing your monthly debts, and making a bigger down payment on your new house.
You will also need bridging loans to make a down payment for your new house before selling the other one. Pick your loan provider prudently and negotiate for the best interest rates.
2. Compare Moving Service Providers
The moving service industry is highly competitive. Moving companies try to outdo each other by lowering their rates and offering discounts and other incentives. Each company has something unique to offer, so take your time to consider the different offers before booking.
Pricing should be the first thing to compare, but it is not the only determining factor. Other factors include discounts and complementary services, such as free packaging. Additionally, study the contract thoroughly to ensure that it doesn’t contain any hidden costs.
More importantly, ensure that you get the full value for your money. As such, don’t compromise on quality trying to save money – the mover’s incompetence may cost you more in the end.
3. Move during the Off-Peak Seasons
Summer is the best time for moving. It is also the most expensive time for moving because moving companies are usually fully booked. However, you can negotiate a better deal during the low-peak seasons when these moving companies are not as occupied.
High-peak and low-peak seasons vary depending on factors such as location, population, demographics, climate, and more. However, the general idea is to book early before other people start booking, as you can negotiate a better deal then.
Additionally, try to schedule your move for the weekend when moving companies are less occupied, as most people move during the weekdays. Moving over the weekend will also afford you enough time to settle into your new house.
4. Take Only What You Need
Moving companies set their prices based on two important factors: distance and size. You will need a bigger truck and more people if you have lots of possessions to move. It is advisable to get rid of the clutter and carry only the essentials, especially if you are moving long distances.
These tips have been tested and proven repeatedly, and they can save you thousands of dollars if you put them into practice. However, be smart when negotiating to ensure that the moving company’s quality of services gives you your money’s full worth.