How to Pay for Moving Expenses

Knowing ahead of time how to pay for all the expenses that come with moving can help you stay on track with your financial goals. To prepare for your move, there are several questions you might ask yourself and a few tips to keep in mind.

Table of contents

• How much does it cost to move? 
• How can you pay for moving expenses?
• What is a moving loan?
• How can you create a budget for moving expenses?
• How can you reduce the cost of moving?
• When should you consider a personal loan for moving?

How much does it cost to move?

Moving costs can range from as little as $500 for a small, local move to more than $14,000 for larger homes and longer distances.¹ For a household with three or four bedrooms, for example, the average cost to move ranges from about $2,700 for a shorter distance to $4,000 for a longer distance.²  

The price may depend on how much packing you can do yourself, how many services you require, and the time of year you move. If your new home needs additional furniture or requires expensive utilities you might budget for those as part of your overall relocation expenses.

How can you pay for moving expenses?

Depending on the total cost, you could pay for moving expenses with savings, credit cards, or a moving loan. 

Using your savings may be the simplest way to pay for a move. You need to consider, though, whether pulling money out of your savings is the best step for you to take. Spending down your savings may leave you vulnerable to unexpected expenses that can pop up during or after a move. 

Credit cards could be a convenient option to pay for expenses. You might look for a new card with a 0% or low introductory interest rate offer. This could help you isolate your moving costs into one account or earn points to be used later. A credit card may not be the best solution, though, if it has a high interest rate or you can’t pay the balance before the promotional period ends.

What is a moving loan?

A moving loan—sometimes called a relocation loan—is a personal loan that you use for your moving expenses.

Paid to you as a lump sum, a personal loan can be used for nearly any purpose. For a move, you could use the loan to help cover the cost of the mover, boxes and tape, cleaning fees, or truck rental (if you do it yourself).

You can also use it for any other expenses that might arise, whether you are painting your new place, getting furniture, dining out while you unpack, or simply celebrating the move in any way you choose. The interest rates on personal loans are often lower than rates on credit cards, and you can select from a range of repayment terms to fit your budget.

How can you create a budget for moving expenses?

Whether you are moving into your first apartment, your dream home, or your retirement residence, there are many expenses you’re likely to confront, such as:

• Packing supplies
• Cleaning supplies
• Fees and tips for professional moving services
• Moving insurance
• Truck rental fees, if you move yourself
• Shipping fees
• Gasoline
• Lodging
• Airfare
• Local transportation
• Security deposits
• Utility setup fees
• Storage

After assessing your needs and costs, create a budget. This should give you a better idea of your potential moving costs and where you might be able to save.

How can you reduce the cost of moving?

There are several ways to cut down the cost of moving. 

Limit the use of hired moving services

One of the most effective ways to lower your expenses is to reduce the need for professional movers or to minimize their services.

If you are moving a long distance, a moving container service or shared truck might save you money. If you are moving locally, it may make sense to use an app that connects you to people with a truck and moving experience. Moving during off-peak times, such as  mid-month, in the middle of the week, or during late fall or winter, might also help you save money.

Downsize your belongings

Because you may save by moving fewer items, go through your closets and dressers to decide what you can live without. Go room by room to determine what’s essential and what can be donated, recycled, or sold.

Consider having a yard sale, posting online classifieds, or donating your extra items to a local charity. The money you earn from selling things might help cover some of your moving costs.

Pack items yourself

Professional movers generally set fees based on the estimated hours a move will require. You may save money by packing smaller items yourself, such as room décor, dishes, clothing, and linens. Also, consider taking apart furniture ahead of time. Put the smaller parts of bookshelves, bed frames, or dining tables in a labeled envelope or box to help find them later.

If you are moving to a new state and have a large number of books or other eligible items, you might consider using Media Mail® services from the United States Postal Service. Compare what the postal service would charge versus a professional mover. Or think about selling those old CDs, DVDs, or outdated media players at a yard sale.

Reuse materials 

Depending on the mover you choose, you might save on packing materials by reusing boxes from your workplace, a grocery store, or local shops. Then you can get a head start by packing things on your own.

Check with friends and neighbors or inquire on social media whether anyone has boxes to give away. Rather than using expensive bubble wrap to protect your things, use items from around your home like spare sheets and blankets. Coffee filters might work to separate and protect dinnerware.

When should you consider a personal loan for moving?

With the flexibility to use the funds for almost any purpose, a personal loan may be the right solution for moving expenses.

You might not have planned for every expense in your day-to-day budget. Maybe your new home needs additional furniture or the utilities cost more than expected. By ensuring that you have enough funds for the move itself—and extra money for unexpected expenses—you may help reduce your stress during this important transition.

To learn whether a personal loan makes sense for your move, you can use our personal loan calculator to estimate your payments. Enter your desired loan amount, repayment term, and your credit score to see if Discover® Personal Loans could help with your moving expenses.

With Discover, you can see what your loan rate and set regular payment could be before you apply, with no impact to your credit.

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The information provided herein is for informational purposes only and is not intended to be construed as professional advice. Nothing contained in this article shall give rise to, or be construed to give rise to, any obligation or liability whatsoever on the part of Discover, a division of Capital One, N.A., (Discover) or its affiliates.