What Is the Average Cost of Relocation?
Relocating to a new place is an exciting opportunity, but there are also a lot of things that may arise when you’re trying to get everything in order. And, knowing the costs that you may be facing during this process is absolutely essential during the planning process. How can you be sure that you’re doing what works and what you’re asking your employer for enough money for your long distance relocation services?
Looking at the average costs around relocation is helpful and essential, and you want to be sure that you can get as much info as possible while you’re setting everything up. And, if you have an employer paying for some of your relocation costs, you can also have a solid idea of what you need to ask for.
In this blog, we’re going to give you answers to commonly asked questions regarding the moving process and what you’re going to have to pay for it.
How Much is the Average Relocation Package?
If you’re working with an employer to get the money that you need for relocation services, then you want to be sure that you have every angle of those services set up as they need to be. If an employer is really excited about hiring you, it’s likely that they will be more generous and flexible about the relocation package that they offer.
Here are some of the things that may be included in your relocation package.
- Cost of hiring a moving company: The cost of hiring a moving company is usually the base of what you’re getting in your relocation package, so keep that in mind when you look for movers to take care of your needs.
- Any loss of pay for the time you’re moving: Some employers will give you some extra money as a “cushion” while you’re settling into your new home with your family.
- A trip to visit so that you can find the right place to live: If you need to fly or drive in so that you can explore housing options, you may be able to get some of those costs back as part of your relocation package.
- The security deposit or down payment for your new residence: You need to be able to pay a down payment or security deposit on your new home, and your employer may give you a little bit of the money you need to make that happen.
- Tolls and other transportation costs: Tolls, flights, car needs, and whatever other transportation costs are involved in your relocation are usually going to be covered as a part of your package.
- Hotel costs: If you are going long distance or there’s a delay between when you start work and when you’re able to move into your new place, your employer can offset some of the hotel costs you’ll accrue in the meantime.
While not all employers will provide all of the above costs, it’s fine for you to consider them when you’re looking at an average relocation package.
Estimates say that the average relocation package provided by employers is around $20,000. That cost can vary based on the above factors, but also can differ based on what city you’re moving to, the cost of living, and the size of the company that you are going to start working for.
What is the Average Cost to Move a 3 Bedroom House?
If you are currently living in a 3 bedroom home, that’s going to be the basis that is utilized to determine how much your relocation estimate should be. Many moving companies will use this information to be able to give you an estimate about what you need to do and how you may want to proceed with everything that you want to accomplish in the long run.
For the most part, you’re looking at around $1000 per room if you’re dealing with a long-distance move. So, if you have a long-distance move where you’re just getting loading and unloading services, then you will find that $3000-$4000 is a fairly decent estimate for a 3 bedroom home.
If you’re adding additional services, those are going to vary based on the amount of time it takes. For example, packing and unpacking services are typically hourly plus the cost of supplies. Assembly and disassembly are the same. If you’re moving fragile or large items, you may get an additional flat fee to take care of those.
Local moves are a lot cheaper than this.
For a 3 bedroom home, you can expect the move to take somewhere between 5 and 7 hours, and you’ll likely be paying $30 to $50 per mover, per hour. This, then, makes it so that your move is likely between $300 (2 movers for 5 hours) and $1400 (3 movers for 7 hours).
3 bedroom homes are the “standard” when it comes to looking at prices for local and long distance moves, so you can utilize these numbers in order to get a clearer picture of what you may be spending for a home of another size.
You can also use these estimates so that you know what you’re looking at in terms of averages, allowing you to try and get the best price for your move, no matter whether it’s local or long distance.
How Much Does it Cost to Move Locally?
Local moves are a lot more affordable than long distance moves, and many moving companies actually have local rates that are hourly, instead of dealing with all of the logistical costs that can come up with a long-distance move.
On average, your moving company is going to charge somewhere between $30 and $50 an hour per mover, per hour. They can typically give you that rate when you call or use a mo0ving facilitation service.
Many local moves end up being less than $500, and they only really go past that when you are dealing with a home with 3 bedrooms or more. If they’re just dealing with loading the truck and unloading it at your new place, then it’s going to help to keep all of the costs down as much as possible. But, if you’re on a time crunch or you need assistance with things like packing and unpacking, or taking apart and reassembling your furniture, then you are going to look at higher costs.
In many cases, it’s best to just put aside around $1000 for your local move. That way, you can have some wiggle room for extras and make sure that you’ve got absolutely everything that you may need in order to get ahead of problems. And, if you have extra money, then you can order in or go out to eat on moving day instead of trying to dig out the pots and pans so that you can cook.
What is a Reasonable Relocation Package?
The best relocation packages are going to be there to cover the cost of moving, any storage needs that may arise, and taking care of selling your existing home. Many employers, especially if they are doing well and they really want to be able to utilize your services and expertise, are going to give you a fairly decent, inclusive option when it comes to sorting out what it is that they want to be able to offer you.
Why do relocation packages matter?
The fact is, you’re going to be uprooting your life and trying to work out how to make a lot of changes, very quickly. Because of that, you need to be sure that you’ve got all of your ducks in a row and that you’re going to be able to make those changes as smoothly and as low-stress, as you possibly can.
So, employers often like to chip in costs because they know how inconvenient and difficult it can be to get everything together for a move. Even if you’re just moving to the next town over, you are going to need to make a number of considerations and you’re going to want to ensure that your family is as prepared as they can be.
The financial end of that can often be the most stressful part, and employers know that they can help to eliminate that uncertainty.
It’s essential to discuss the options that you have with your employer so that you can work out important details and make sure that you’ve got everything ready to go. More often than not, they will be willing to work out a relocation package as part of the whole big picture when you sign your contract to work for them, so be sure that you’re clear with expectations and that you’re able to work out everything in a positive way.
If you’re looking for your best relocation options, then consider talking to our team at iMoving. We work with a number of different moving companies to help you find the one that can help you to take care of everything in a proper fashion. Use our site to search and then find the movers that can help make your move go as smoothly as possible.