Is $5000 enough to move out of NYC?

Calculating how much money you are going to need for relocation is quite complex. There are many things that should be taken into consideration. We are going to give you a helping hand by letting you know what to include when calculating your moving budget. Once you do this, you are going to get an answer to the question is $5000 enough to move out of NYC. After you learn the important pieces of information, it will be much easier for you to organize the entire process.

When should you start saving money?

If it happens that you already have some money on the side, it is great. However, if you have not planned to relocate anytime soon, you should start saving money as soon as you start thinking about this. A great majority of people say that they needed ‘3 months expenses’ to relocate. Of course, this amount can vary because it depends on different factors.

Calculator, notepad, and money
Do some calculations and you will get the answer to the question ‘is $5000 enough to move out of NYC’

But basically, if you are relocating an average-size home and you are not moving to a different part of the country, the amount we have mentioned will probably be enough. Once you are sure about this part, the next thing you should do is hire a moving company. Best Movers NYC will help you choose the one that can meet all of your moving requirements. Also, feel free to point out how large your moving budget is and they will take this into consideration as well.

Is $5000 enough to move out of NYC?

You already know that your moving costs depend on the size of your home, the weight of your belongings, when you are relocating, etc. However, there are some average numbers you can rely on. For example, if you are moving an average studio, your moving costs will be between $420 and $700. In case you are relocating a one-bedroom apartment, you will have to pay $700-$1100. If it happens that you are moving a two-bedroom home, the amount you will need is between $1100 and $1500. You are going to need at least $1500 if you are relocating a three-bedroom apartment. These are just the basic expenses when residential relocation in NYC is in question. The additional ones would be greater distance, more moving services, a great number of belongings, etc.

How to calculate how much money you can put aside?

We are going to provide you with some average numbers that will give you a clearer picture of how to calculate your moving expenses. For example, if your rent is $1,000, you will need to save $3,000 if you want to save up to 3 months of expenses, as we have discussed before. In addition to this, if you decide to save up to 3 months of expenses for food, utilities, and transportation, you will have to put aside around $1,200.

Living room
Going through residential relocation is not cheap, but it does not have to be too expensive

We have come to this number by calculating that each of these costs $100-$150 a month. However, since this will probably not be enough, it is preferable that you try to save money on other things. For example, avoid buying cosmetic products and clothes if it is not necessary. Also, you can organize a garage sale and make some money.

Pay special attention to the additional expenses

Yes, you should be careful when the main moving expenses are in question. However, you should also put a special accent on additional expenses. It can easily happen that they pile up and that you need more money than you have calculated. First of all, you will probably have to pay rent in a new apartment for two months. This is quite a large expense and you should put it on your list as well. In addition to this, you should check your utility bills. If it happens that you have to pay for an extra month, you may not stay within the limits of your budget. Also, if you would like to ask for additional services from your mover, make sure you point this out before you sign the contract. Ask for a free moving quote and you will know how much NYC movers cost.

There are many ways in which you can save some money

We have already mentioned some ways in which you can reach your goal. The good thing is that there are many other things you can do that are also helpful. For example, try to skip eating out. It is much less expensive to eat at home and it is also much healthier. Also, go through your bank account statements and see what subscriptions you can cancel. Even if you cancel them for only 3 or 4 months, you will get to save a nice sum of money.

Woman writing
Check your bank statement as well and cancel all of the subscriptions that are not necessary for you at the moment

In addition to this, try to avoid using your car as much as possible. Use public transportation or carpool with friends. You will also get to save some money aside and even if you are relocating locally in NYC, each dollar means a lot.

As you have had a chance to see, it is possible to hire a professional and relocate on a budget. If you have wondered ‘is $5000 enough to move out of NYC’, you have gotten the answer. All in all, everything is possible if you find a way to do it. Do your best to lower your expenses on time and this amount of money will surely be enough. Of course, if you manage to save more money, it will do no harm. So, do some calculations on time and think about how you can reach your goal. In the end, you will be satisfied with the final result because you will have a professional moving company by your side to help you.

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