Relocating for a job is a huge change which is usually accompanied by a lot of decisions and choices. While some obvious benefits of the move may seem very attractive, there might be some drawbacks you should be well aware of.
Before making a final decision, you should be honest with yourself and answer several crucial questions.
Questions to ask yourself before moving for a job
– Do you have enough information about your prospective company? Are they offering a dream job?
– Where will you and your family live? What are the housing options and real estate market condition?
– Will your budget meet new standards and cost of living in a new city? Can you afford to move to a new city and still be able to save some money for some future projects?
– Will your new company cover at least one part of the moving expenses (if not all)? Are they willing to help you find at least a temporary housing and help you sell/rent the old house?
– Will cultural and political background of the new city fit your family? Will your new neighborhood be a good match for your kids in terms of socializing and schooling options?
– Is your partner on board when it comes to moving to a new city and how will this change affect his/her lifestyle? Is it going to be easy for your partner to find a new job? Will your family be happy to move?
– Will you be stimulated at work? What your career path will look like in the next couple of years? Is your new job an opportunity for you to improve your knowledge and skills?
Factors to consider when moving for a job
Although you were offered an ideal job in a new city or state, which is a dream come true, you should be able to picture how your day-to-day life will look like in a new environment. Whether you are single or married, a decision to relocate for a job shouldn’t be taken lightly. However, when moving with a family, your spouse and children will be directly affected by your decision to move. Having their well-being in mind, make sure the relocation to a new city will give them a sense of stability.
– Research your new area in terms of cost of living, housing and education options, safety, lifestyle, weather conditions,…Before making a final decision you should ensure your new environment is beneficial for your family in terms of job possibilities, education, relationships, entertainment options,…
– Research the economic situation in your new area and check if it fits your budget. Remember that moving for a better paid job to an extremely expensive city may prove counterproductive, so weigh all pros and cons before signing any contract with your prospective employer.
– Will your higher income affect the overall living standard?
– When calculating your budget, make sure that you include housing expenses as well – rent, mortgage, security deposit, utility bills, repair works,… Research the real estate market so as to find suitable neighborhood and affordable housing options for you and your family. Bare in mind that proximity to good schools may increase the cost of the property, so set your priorities in advance.
– Create your moving budget by taking into account all possible charges and fees you may incur throughout the process. In most cases, job relocation expenses are tax deductible, but you need to be fully aware of how much the move itself will cost you.
– Will your kids be able to make new friends easily in the new neighborhood? Are they prepared to experience different social and cultural background?
– If your employer is offering financial and practical help, the relocation itself will be much easier. Depending on the written contract or agreement you have with your new employer, you may (or may not) be fully reimbursed for all moving expenses. If your new employer refuses to cover at least some of the moving costs, you should decide whether the financial sacrifice is worthwhile.