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Moving can be expensive. Here’s how to spend less.
Key points
- High rent prices may be driving a lot of tenants to move.
- There are three steps you can take to lower your costs in the process.
If you’re struggling to keep up with the cost of rent, you’re no doubt in good company. Apartment List reports that over the course of 2021, the national median rent increased 17.8%. By contrast, annual rent growth averaged only 2.3% between 2017 and 2019.
A big reason rent prices are up so much is the demand for rentals soared last year. Plus, some landlords may be raising rents in an effort to compensate for the financial losses they incurred earlier on in the pandemic, when eviction bans were in place.
If you can’t keep up with your rent costs and your lease is coming to an end, it may be time to look at moving to a less expensive home. But to save money on rent month after month, you might first have to dip into your savings account to cover the cost of an actual move. If you’re going that route, here are three steps you can take to make your move cheaper.
1. Do a clean-out first
Chances are, there are belongings you have that you don’t necessarily need. The less you have to transport, the less your move will cost you, so take inventory well ahead of your moving date and start separating things into categories — items you’ll keep versus toss or donate.
Furthermore, if the layout of your new home is different from your current home and you think you’ll be replacing some larger items, like furniture, sell those pieces now — before you move. Not only might that save you money, but getting a little cash for those items could make your move easier to pay for.
2. Do your own packing
If you work full-time, you may only have so many hours in the day to pack up your home. But tempting as it may be to hire movers to not only haul your belongings to your new abode, but also, pack them up, doing so could cause your costs to skyrocket.
A better bet is to carve out the time to do your own packing. Figure out how long it’ll take to pack up each room in your home and map out a schedule so you’re able to …….
