If hiring professional movers for a relocation, you can expect to pay at least $1,000. As mentioned above, the American Moving and Storage Association states that the average cost of a local household move is $2,300, and the average cost of a long distance move is $4,300. Of course, the cost of your move will depend on a number of factors including distance traveled, weight of belongings, moving date, labor costs and any additional services needed such as insurance or packing.
All interstate movers are required by federal law to offer Released Value Protection and Full Value Protection to customers. The cost of Full Value Protection varies by mover, so be sure to ask your moving company for details. The most basic level of liability, Released Value Protection, is automatically included in the cost of your move. This basic protection covers 60 cents per pound per item. While this type of coverage won't cost you anything extra, it is considered the bare minimum. Those looking for more comprehensive coverage should opt for Full Value Protection. This level of liability means that if the mover damages or loses a belonging, the mover must either replace your item or reimburse you for its current cash value.
Yes! Save those receipts because your moving expenses could be tax-deductible. If donating household items to a charity before or after the move, be sure to itemize all belongings and record their current cash value on the donation receipt. You should be able to claim a tax deduction on these donations. In addition, those moving for work may be eligible to receive a tax deduction on moving .
Possibly. If you are moving for work, your moving expenses could be tax-deductible. According to the IRS, "if you moved due to a change in your job or business location, or because you started a new job or business, you may be able to deduct your reasonable moving expenses but not any expenses for meals." The IRS claims that you can deduct these moving expenses if: 1) Your move closely relates to the start of work. 2) You meet the distance test. 3) You meet the time test. To deduct these expenses, you must fill out and submit IRS Form 3903.
WHAT SHOULD I CONSIDER BEFORE HIRING A MOVING COMPANY
Before hiring a pricey moving company, be sure to consider whether or not the expense is worth the money. If the answer is no, consider less expensive DIY alternatives such as truck rentals or moving containers. However, if your budget is more flexible, and you'd like to save time and energy on the move, then hiring movers may be worth the price. Whatever you do, be sure to weigh the pros and cons of each choice carefully before deciding on a move method.
The cost of an interstate or long distance move is determined by the weight of the shipment, the mileage between the origin and destination, and the labor costs. Calculating the cost of a local move is slightly different. Intrastate moves are based on a flat dollar amount per hour. Factors that affect this hourly rate include labor costs, services such as packing or climbing an excessive number of stairs, assembling furniture and extra add-ons. In addition, many local movers also offer customers a flat rate option. A flat rate is typically the moving company's estimated number of hours the move will take, multiplied by their hourly rate. Many times this fixed price includes the cost of add-ons as well.