A move can unlock freedom, flexibility, and a new lifestyle. However, without a financial plan, it can also cause serious financial stress.

A 2020 survey conducted by OnePoll found that survey takers listed moving as the most stressful life situations, outranking a divorce or getting married.

Many fail to realize the true cost of moving and how it may impact their financial well-being until they are deep into the process. Many underestimate the true cost by more than $700.

Let’s break down the cost of moving, so you don’t get caught off guard!

Your Moving Budget: The Real Numbers

Before you search for your dream home or pack a single box, get clear on your financial capacity by asking yourself these questions.

• What is the maximum I can afford to spend?
• What is the responsible number, considering savings and buffers?

Be honest in designing your budget. Overextending here can lead to months of financial strain.

Factor in These Costs:

Upfront housing payments

• First and last month’s rent or mortgage payment
• Security deposit (3 months rent) or down payment (often 3.5% to 20%)
• Closing costs (buyers) or broker fees (renters)

Moving-related expenses

• Moving truck or professional movers
• Packing supplies and boxes
• Gas, tolls, or long-distance transport fees
• Storage unit rental, if needed
• Cleaning services or pet boarding

Setup costs

• Furniture and kitchen basics
• Appliances (or appliance upgrades)
• Internet and utilities installation
• Laundry setup, if not included
• Parking permits or space rentals

Monthly and recurring costs you may forget

• Utilities (gas, water, electric, trash)
• Renters or homeowners insurance
• Gym or other memberships that now need to be paid separately
• HOA fees or property taxes
• Lawn care, snow removal, or pest control
• Streaming services, security systems, new groceries

Smart Checklist for Buyers and Renters Alike

Before You Commit

• Determine how much space you really need
• Decide whether you need a roommate or co-buyer
• Research neighborhood costs, including transit, food access, parking
• Look into taxes, insurance rates, and school zoning (for buyers)
• Request an inspection and review your lease or purchase agreement carefully

Planning the Move

• Book movers early or reserve a truck
• Get price estimates from different moving companies and make sure they’re legit, licensed, and insured
• Cancel or transfer utilities, and set up new ones
• Change your address with USPS, banks, your employer, DMV, etc.
• Create a “first week” box with essentials, including toiletries, essential paperwork, chargers, snacks, and cleaning supplies
• If necessary, look into the costs of a rental unit to house any overflow belongings, seasonal items, or furniture that won’t fit in your new space

After the Move

• Take inventory and photos of any issues (especially renters)
• Review your budget again after the first 30 days
  Set calendar reminders for rent, mortgage, utilities, and maintenance
• Re-evaluate your emergency fund, especially if it was impacted by the move
• Adjust lifestyle spending to match your new reality

Renting vs. Owning

Owning can build equity, but it comes with upfront investment and long-term responsibility. Renting offers flexibility and often fewer surprise costs. Your choice depends on your income, savings, and lifestyle goals.

Read our breakdown of the renting vs owning dynamic to help you choose what’s best for you.

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Moving is more than a moment. It’s a financial milestone. Don’t let the excitement or stress blur your budget.

Step into your calm, reference your resources, check the real numbers, and make choices that protect your financial wellness for the long run.

No matter where you’re headed, your best move is always a planned one.