Moving is one of the most stressful periods in life! It’s not just about packing stuff; it’s about packing memories.
Relocating is a big challenge, even for the most experienced moving companies. Sanctions and inflation greatly affected the global market, and the moving industry is feeling the side effects.
If you need to move, you probably wonder how wise it is to move during these uncertain times? Well, we are here to try and give you an answer to that question!
The price of everything is going up!
It’s no secret that the price of everything is going up, which also affects home buyers and the moving industry! Everyone is starting to feel the price surges! 2022 has brought many problems, and inflation is one of them! Almost every industry and business has been affected by inflation in some capacity. The moving industry is no exception! There are certain times when moving becomes a little pricer.
That typically happens during the moving season. Rates usually increase by 20 %. However, this moving season will be slightly different. Gas is causing financial problems for many moving companies. Fuel prices have become one of the major topics of discussion, and the situation won’t get better soon. The increased fuel price has forced many moving companies to increase their costs.
Inflation has changed the way many businesses function. The moving industry has already suffered huge losses, but many moving companies manage and create new ways to relocate their customers. Let’s delve into what are the advantages and disadvantages of moving during inflation!
You’ve probably thought it would be incredibly difficult to find one good thing about moving during inflation, but we have a small surprise! Inflation doesn’t necessarily mean just a bad thing; there are a few advantages along the way.
- Easier to book the date you want – during the peak of moving season, it can be incredibly hard to find. Moving during inflation can be a huge additional cost for many. Some people will want to postpone the move, leaving moving companies with free booking dates.
- Housing is generally viewed as a good asset when it comes to inflation – During inflation, rental rates increase, which is great for many real estate owners and landlords.
- Inflation creates new possibilities – Inflation is a challenge for commercial leaders. Still, it also creates many new opportunities! Many people managed to profit during the recessions and inflation. Though inflation can be concerning, it can still make big changes in the economy and entire society.
Inflation creates unexpected costs and times. Relocating is never cheap, but some moving costs can spiral out of control during inflation. That is just one of many disadvantages. Read on to learn more:
- Packing supplies are more expensive – Prices of everything are going up, so packing supplies are more expensive. Raw materials such as cellulose now cost 20% more! The pandemic disrupted the global supply of raw materials.
- Fuel is more expensive – Gas prices have been broken records since 2008. One of the main reasons for the increased gas price is the invasion of Ukraine by the Russian armed forces.
- Real estate prices tend to rise during periods of inflation – Investors search for assets that generate earnings past the rate of inflation. A limited amount of property is another important reason real estate prices go up during inflation.
- Inflation is unpredictable – Trying to understand inflation can be a mind-bending task. Even the experts can struggle with it, and its effects on society can vary. Inflation can be a result of a hot economy. Many businesses will have to raise their prices, which can severely affect the overall lifestyle of many people. It can be exceptionally hard to move during such difficult and unpredictable times.
What to do when you need to move during inflation?
Moving is never easy, but relocating during inflation is an even bigger challenge! This can be a tiring process that often requires additional help. There will always be some pros and cons when it comes to moving, especially during inflation. At the end of the day, it comes down to choosing the right timing for you.
Sometimes it’s best to let professionals take care of the laborious work of moving for you. Prices are going up, but the cost of labor work doesn’t necessarily follow that trend. A reliable moving company knows how to provide the best labor services. Though challenging, relocation can be a great way to start a new chapter in your life, no matter how difficult the circumstances can be.
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