how much to save to move out of state

3 min read 04-02-2025

Moving out of state is a significant life event, filled with excitement and, let's be honest, a healthy dose of stress. One of the biggest stressors? Figuring out how much money you need to save. This comprehensive guide will walk you through the various costs associated with a cross-country move, helping you determine your savings goal.

Estimating Your Out-of-State Moving Costs

The amount you need to save depends heavily on several factors: your current location, your destination, the method of moving (DIY vs. professional movers), the amount of belongings you're moving, and the time of year. Let's break down the key cost components:

1. Moving Costs: The Biggest Chunk

Professional Movers: Hiring professional movers is the most expensive option, but often the least stressful. Costs vary wildly based on distance, weight of belongings, and additional services (packing, unpacking, etc.). Get multiple quotes to compare. Expect to pay anywhere from a few thousand dollars for a small move to tens of thousands for a large household. Consider factors like fuel surcharges, which can add significantly to the total cost.
DIY Moving (Rental Truck): Renting a truck and moving yourself is cheaper, but requires significant time and effort. Factor in the cost of the truck rental, gas, mileage, tolls, and potential expenses for packing supplies.
Shipping: For particularly large or valuable items, shipping may be a cost-effective option. However, this also comes with its own price tag. Research various shipping methods to determine the most suitable and affordable option.

2. Transportation Costs

Driving: If you're driving yourself, factor in gas, tolls, food, and lodging along the way. A cross-country road trip can easily cost several hundred, even thousands, depending on the distance and your travel style.
Flying: Flying is quicker, but you'll need to factor in airfare, baggage fees, and potentially the cost of shipping your belongings.

3. Pre-Move Expenses

Packing Supplies: Whether you hire movers or do it yourself, you'll need boxes, tape, bubble wrap, and other packing materials.
Cleaning Deposit: Before leaving your current residence, be sure to have saved enough for your security deposit or cleaning fees.
Storage: If you need temporary storage for some of your belongings, factor in those costs as well.

4. Post-Move Expenses

Security Deposit and First Month's Rent: In many states, you'll need to pay a security deposit equal to one or more months' rent, plus the first month's rent upfront.
Utilities Connection Fees: Set up utilities (electricity, water, gas, internet) at your new residence, bearing in mind potential connection fees.
Groceries and Initial Household Supplies: Don't forget to factor in the costs of stocking your new kitchen and pantry.

5. Unexpected Costs: Always Budget for the Unforeseen!

Things rarely go exactly as planned during a move. Always set aside a contingency fund for unexpected repairs, delays, or other unforeseen expenses. A buffer of 10-20% of your total estimated moving cost is a good starting point.

How to Calculate Your Savings Goal

Detailed Estimate: Create a detailed spreadsheet listing all anticipated expenses. Include even the smallest costs to gain an accurate representation.
Research: Thoroughly research moving companies, rental truck prices, and accommodation options. Get several quotes for comparison.
Contingency: Add a 10-20% contingency fund to cover the unexpected.
Timeline: Set a realistic savings timeline. The longer you save, the less stressful the process becomes.

Example Savings Plan: A Hypothetical Cross-Country Move

Let’s imagine a hypothetical move from New York to California for a family with moderate belongings:

Professional Movers: $8,000
Travel (Flights): $1,500
Packing Supplies: $500
First Month's Rent & Security Deposit: $4,000
Utilities Connection Fees: $300
Groceries & Supplies: $500
Contingency (20%): $1,400

Total Estimated Cost: $16,200

In this scenario, saving at least $16,200 before the move is crucial.

Conclusion

Moving out of state is a significant undertaking. Careful planning and saving are essential for a smooth transition. By meticulously accounting for all associated costs and building a healthy contingency fund, you can confidently embark on your new adventure. Remember to start saving early and track your progress regularly. Good luck!