The cost of moving is expected to decrease this year, but the inflation of consumer goods and the supply chain coming to a standstill are still major factors in the equation. Despite the current difficult inflationary period, today's interest rates remain historically low, and the housing inventory in many areas has increased slightly from earlier this year. Knowing how to account for rising costs will help you make the best decisions when creating your relocation budget. Moving and storage costs have increased by about 6.9%, furniture by 15.8%, and rentals for trucks and other vehicles by 23.4%. In terms of utility costs, electricity has risen by 11%, while natural gas has risen by 21.6%.
Grocery costs are up to 10% higher than average and are expected to rise even more. Gas station prices have increased by an incredible 48%, making it more expensive to use your personal mode of transportation than renting a truck. For small local moves, it may be best to do it yourself, but for larger moves involving lots of rooms and boxes and heavy objects, you may want to work with a nearby moving company. While you might be tempted to skip moving insurance to save money, this insurance helps you protect your belongings if they are damaged or lost during the move. Long-distance removals cost more than short distances of less than 250 miles because the moving company will have to factor in additional expenses, such as additional fuel and time. Many moving companies offer additional services that can increase the total cost of the move by a few hundred dollars.
However, due to interruptions in the availability of professional moving companies that offer full moving services, including a shortage of truck drivers, packers and carriers, it can be difficult to find a company that can help with your big move. In conclusion, the cost of moving is expected to decrease this year, but there are still many factors that influence moving costs. It may be best to do small local moves yourself, but for larger moves involving lots of rooms and boxes and heavy objects, you may want to work with a nearby moving company. While you might be tempted to skip moving insurance to save money, this insurance helps you protect your belongings if they are damaged or lost during the move.
