The cost of moving can add up fast, regardless of whether you hire professional movers or execute a DIY move. As a result, it is important to carefully plan out your move in order to know what to expect in terms of the expenses that come with it. When you have a well-planned strategy, moving can be a lot less stressful and effortless.
How much does it cost to move into a one bedroom apartment? The cost of moving into a one bedroom apartment greatly varies depending on a number of factors. Some of these factors that affect the cost include the distance you are moving, how many belongings you have to move, and the time of the year that you decide to move. According to Movers.com, a one bedroom apartment move by professional movers can cost you up to $500 for labor alone.
There are other aspects to take into consideration when moving to a one bedroom apartment other than the cost of hiring professional movers or renting a truck. Here are a few things to keep in mind to help you budget your move into a one-bedroom unit.
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Things to keep in mind to help you budget your move into a one-bedroom unit
1. Factors that affect the cost of the move
While the cost of moving into a one-bedroom apartment varies, a few factors that you can use to estimate how much your move will cost you include:
- The time of year you schedule your move – Many people tend to move in the summer due to the availability of a wide selection of apartments and the generally favorable weather of the season. Unfortunately, this means that you will have to pay more to hire professional movers or rent a truck due to the increased demand that comes with the season.
- The distance you are moving – If the location you are moving to is far away, there are many more costs to think about. You will have to pay more whether you are moving with the help of professionals or using a truck rental. Furthermore, if you are moving out of the city or state, you also have to factor in the cost of accommodation, gas, and any other additional expenses.
|One bedroom apartment (3500 pounds)
|With insurance and packing services
- How much stuff you own – The number of belongings you have will affect the cost of moving, whether you are using the services of professional movers or not. Professional movers typically charge you based on the size and weight of your belongings. The more items the movers have to deal with, the more you will pay for their services.
Although a DIY move using a rental truck s typically cheaper, if you have more items to move, the costs are higher. This is because you will need to rent a bigger truck which will cost you more.
|60″ flat screen television
|Dining set (medium table, four chairs)
|Desktop computer and monitor
Tables taken from movers.com
2. Costs you are likely to deal with during the move
There are expenses that you have to take care of as you pack up your old place to move into the ideal one-bedroom apartment. Some of the costs you are likely to encounter are as follows:
- Professional moving services/ truck rental if your move is DIY – If you opt to use the services of a professional company, carry out some research first to determine one that will suit you best. You can do this by looking at reviews online as well as inquiring from friends and family. Once you narrow down on a few that you like, gather written estimates from the companies. From this information, you can then see which company provides the best value. Keep in mind that the estimates are not binding, and the actual costs could actually exceed the numbers you are given.
For a DIY move, you also need to carry out your research in order to ensure that you are hiring the most affordable truck rental service. Book one in advance and carry out an inspection before you use it to ensure that it is in top condition.
- Moving insurance – What most people refer to as “moving insurance’ is actually valuation coverage, which is simply the amount of liability the moving company of your choice is willing to accept in the event that your belongings are damaged or lost during the move. However, valuation coverage is limited and does not offer you full compensation in case anything happens to your stuff during your move. Consider purchasing additional insurance from a third party insurance company in order to have more assurance. Remember to factor in the cost of insurance in the budget for your move.
It is important to ensure that the truck rental service you hire has valid insurance coverage as well. This is vital in case the truck is involved in an accident during the move.
- Packing supplies – Packing your belongings is an essential part of moving. You will need several packing supplies, including boxes of different sizes, tape, permanent markers for labeling, scissors, box cutters, bubble wrap, packing paper, and colored stickers or markers for room color coding.
- Moving equipment – For the heavier household items, you will need moving equipment such as hand trucks or dollies in order to move them.
- Cost of a storage unit rental – There might be some items that you don’t need in your one-bedroom rental but you aren’t willing to get rid of. This is where a storage unit comes in handy, but at a cost.
- Servicing your car – It is important to ensure that your car has a full tank of gas and has undergone maintenance prior to the move in order to avoid any potential breakdowns along the way. This is especially true if you have a long journey ahead of you.
- Tipping the professional movers – You also have to remember to budget for the tips that you will offer the movers once the job is done on top of the estimates the moving company gives you.
- A little something for your friends for helping you move – If you opted to go the DIY way, chances are that your friends played a crucial role in helping you to move. Therefore, don’t forget to set aside some money for snacks, drinks, or gifts to offer them after the moving is done.
3. Cost of travel (if you are planning a long-distance move)
If you are moving across the country, there are some travel expenses that you need to take into consideration other than what you are paying for the move.
- Gas and toll fees – If you are driving to a far-off location, having a full tank of gas should be a priority so that you are not stranded in an unfamiliar place because it ran out. The toll fees that you may pay along the way should also be included in your budget.
- Cost of air tickets – Air fare is a significant part of the cost of moving if you are flying to your destination.
- Cost of accommodation – You’ll probably stay in hotels if you are moving to a place where you have no family or friends you can stay with as you wait to move in.
- Cost of food – Of course, you have to eat something along the way as well as when you arrive.
- Vehicle maintenance – Before your journey begins, consider servicing your vehicle so that it is in top condition for a long distance drive. You don’t want it to break down along the way and stranding you in an unfamiliar place.
4. Costs associated with finding a suitable apartment
There are expenses you need to take care of in order to secure that one-bedroom apartment you expect to move into:
- Rental application fee – The first step of potentially moving into an apartment is applying for it. You will need to pay a rental application fee in order for your application to be processed. The application fee may be used to cover the cost of background checks, rental history verification, and any other costs incurred during the screening process. This fee is non-refundable and may cost you $100 or more in some areas. Once your application gets approved, you can then proceed to sign the lease and finally move in.
- Security deposit – In order to move into the apartment, you have to pay the security deposit. The amount you will pay for your security deposit depends on where the apartment building is located. Although there is usually no required limit in most states, others have one. For example, in Kansas, the security deposit for an unfurnished apartment is one month’s rent, while the deposit for a furnished one is one and a half month’s rent.
Other than the location of the apartment complex, your credit score will also affect the amount you pay as a security deposit. If your credit score is low, then you can expect the security deposit set to be higher since you are considered to be a risk when it comes to how dependable you are.
If your tenancy goes smoothly, the security deposit will be refunded. However, some small itemized expenses such as cleaning or repairs may be deducted from the security deposit so you might not get the full amount.
- Holding fee – A holding fee is money that you may pay a prospective landlord to reserve an apartment for you and temporarily take it off the market while your application is pending. Even though holding fees are legal, you should be wary of handing over money to a landlord just to keep your place in line. Make sure that you come to an agreement with the landlord regarding how the holding fee will be used if you get the apartment and have it in writing. Having a written agreement is also important in case your application doesn’t go through or if you change your mind about moving into the apartment.
- Pet deposit (if you have one) – A pet deposit is basically a security deposit for your animal friend. It is meant to cover any damage caused by your pet.
- Cost of utilities – As you move into your one-bedroom unit, you have to take into consideration the cost of utilities such as water, electricity, internet, and gas.
The electric bill will probably be one of the highest utility expenses. How much you pay for your electric bill depends on the state in which you live, the number of people in the unit, and the number of electronics and appliances that use electricity to operate. On average, the electric bill for a one bedroom apartment is about $60 if you live alone. This could vary depending on your utilization of the air conditioning unit in the summer and heating in the winter.
Some rental units use natural gas for heating in addition to cooking. In the winter, the cost of heating your one bedroom unit could be as high as $60 on average. When it comes to the water bill, expect to pay as much as $50 per month if you live alone. The garbage bill could cost as much as $20, while the internet bill could cost an average of $45 per month.
- First month and last month’s rent – More often than not, landlords may require that you pay first and last month’s rent upon move-in. This is not considered a deposit and is non-refundable. However, in cases where you already paid the rent for the month that you give
noticeto vacate the unit, you can request a refund for the money that you paid for the last month.
- How long does it take to move a one-bedroom apartment? The actual amount of time it will take to move can vary greatly from one move to another. Based on the experience of professional movers, the average time it takes to move a one bedroom apartment is 2-3 hours.
- What is the average cost of moving to another state? According to the American Moving & Storage Association, it will cost you an average of $1,170 to move within the same state, while the average cost of moving to an entirely new state is $5,630.