Hidden costs when your clients move

September 29, 2017 by Alex Noonan

A young Millennial couple prepare to move.

about the author:

Alex Noonan

Technical writer

Joining Advicent as a partner support specialist in 2013, Alex provided high-quality support for partners within NaviPlan and Profiles. In 2015, he took that product knowledge to the learning development team as a technical writer, creating detailed documentation for partners with a practical focus on what they need to know. Alex received a BSBA from Drake University in Marketing/Advertising Creative in 2013.

Recently, I began preparing for my (almost) annual move to a new apartment. Though the searching, the planning, and the packing all take time, the one thing I sometimes forget about is the cost of the actual move itself. For families or clients with more things, there are serious potential costs that can affect where a client can move and how they move.

Moving with a mover company or on your own

According to the American Moving and Storage Association, The average cost of a full service multi-state move can cost over $4,000, while an intrastate move can cost well over $2,000 (depending on city and state). These costs can pile up based on obvious factors such as distance/hours on the job, number of movers, amount of property, etc. However, other elements such as “travel fees” (cost of gas, return costs, lodgings), various other fees, and weight can seriously affect moving costs.

In many cases, moving does not require a full team of movers, and can be self-service. While this strategy is much less expensive, costs can still occur with truck rental, insurance, and gas costs. Other potential option for self-service is via portable storage units. This process reduces the need for moving trucks and can be a cost effective way to move long distances.

Ways to minimize cost

As an advisor, clients may come to you and ask to begin plan for a new house purchase, or other move. Make clients aware that, in addition to the costs of buying a new home, moving costs need to be factored into what they are able to afford.

Preparing the correct moving strategy based on how much they are willing to spend on the move can dictate everything from what time of year they move, to when they can get organized in both their old residence but also their new one. Correct planning, both financially and strategically, can be the difference between making any move a nightmare or a simple process.

To learn how to effectively send pertinent information to your clients at every stage of their lives, click here.