Are You Financially Prepared for a DIY Move?

On the surface, a DIY move promises to save you and your family a lot of money. After all, you won’t have to pay the professionals the big bucks to lug your stuff around. You can enlist your friends and family to help you to get from point A to point B for the much cheaper price of beer and pizza.

Deciding to forgo a moving company means you’ll avoid their fees, but you could run into other costs as a DIY mover. Truck rentals and household damages are two things you need to consider.

Household Damage

Think about that solid wood dresser you have upstairs in the bedroom. Now consider how you and your friends will bring it down your narrow half-turn staircase. In this fantasy, you can maneuver this heavy and cumbersome item downstairs in one smooth motion, but in reality, it can take a lot more time and effort.

Eventually, someone might lose their grip on the dresser, or you can lose your patience about getting it out in one piece. Next thing you know, your hardwood floor and walls are sporting craters from your attempts.

If you counted on your security deposit to pay off the rental truck charge on your credit card, these unexpected damages could throw a wrench in your plans. Can you make last-minute repairs to your home? And if so, how can you afford them with your credit card tied up?

In emergencies, an online loan might help you cover unexpected repairs or the sudden loss of your security deposit. You can apply for an online loan as soon as you realize your mistake, requesting an installment loan or line of credit to boost your budget.

To avoid needing a loan altogether, invest in proper moving equipment and supplies, like lifting straps, furniture pads, and dollies. These tools make it easier to lift heavier items in a safe way, and they protect your house and belongings from potential damage.

Rental Truck

You could pack your car so full of your belonging you can’t see out the back window and strap furniture to your roof, making a million trips between your old place and new home. But you don’t have the time to zig zag back and forth like that. So, like most people, you hire a truck to move your belongings in one trip.

How much a truck will cost depends on a variety of factors:

The volume of your belongings: Someone moving a 3-bedroom house will need a bigger truck than someone moving a bachelor apartment.

The quality of your items: High-value assets require more care and better packing to ensure they arrive in one piece.

The distance of your move: You’ll burn through more gas to get your vehicle from point A to B when you’re crossing state lines.

You also have to consider insurance for your time behind the wheel. Don’t assume your own auto insurance policy covers the weight limit of the truck you need for a move; most standard policies won’t. Read into your policy and ask the rental company about what they offer.

Skipping this coverage could be a risk you don’t want to take. While there’s a good chance you’ll arrive at your new home without issues, insurance provides peace of mind in case something goes wrong on the road. The last thing you want to deal with is an accident with your rental. You may have to pay for all the damages, even if you aren’t at fault.

The Takeaway:

The unexpected can complicate a move, so always take out renter’s insurance and be careful when moving your furniture.