Relocating can be a costly endeavor, but it's important to understand why it's so expensive. The labor involved in packing, loading, unloading, and carrying heavy objects is a major factor in the cost of relocation. Surveys show that 20% of moves are due to families upgrading to larger homes, while the remaining 85% are due to other causes such as death, divorce, business transfers, and young adults moving out on their own. Real estate agents typically charge between 4-7% of the sale price of a home, which can be a significant amount for expensive homes.
Additionally, lost wages can be just as costly as basic expenses like packaging and transportation. For those who are moving out of state, there are additional costs to consider. Suspending material purchases is a good first step, but there are other financial considerations such as driving in the snow and making sure your car is prepared for the journey. High-level executives who move for work often have their relocation-related expenses covered, but this hasn't necessarily changed the cost or patterns of relocation. At the end of the day, it's important to weigh the costs incurred with the time spent by the moving company to determine the optimal combination.
Moving can be expensive, but it's justified by the amount of care and work involved. Understanding why relocation is so expensive can help you make an informed decision about your move.
