Relocation Considerations

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Some things to look out for when you’re preparing for a relocation

Experts agree that relocating is one of the most stressful life situations individuals face, especially considering that it is often a result of a new job opportunity. So before contemplating a stressful move, it’s important to prepare against the unforeseen changes a relocation can bring.

Financial burden on others:

When considering a relocation, individuals should look at the impact their move will have on their entire family. Sometimes, for example, the ‘other’ spouse or significant other could be forced to quit their job or change careers, which could add financial strain to the family. It is also important for a family to consider how their move would affect any individuals whom they are helping to support financially or physically, such as aging parents.

Changes in transportation related expenses:
If an individual has access to public transportation at their current job but are considering a relocation to another part of the country where it is not available, they must evaluate the financial on their commute. Vehicles can be expensive to buy, insure and maintain!

Alterations in regards to job benefits:
Individuals should carefully compare health care and other job benefits as a result of a new job. There are often hidden and unforeseen costs associated with such a transition.

Other considerations: Changes in housing costs, state taxes and other living expenses should also be weighed when contemplating a relocation. Tool’s such as CNN’s Cost of Living Calculator are helpful tools when evaluating new opportunities.

 

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