According to research, career advancement is the number one reason for a job-based relocation across the United States. Additionally, while individuals between the ages of 18-34 years constitute the majority of relocations, those in the older category are open to relocating if the correct opportunity presents itself. If you too are planning to follow this path, this article by e-Training Manuals will provide you with an in-depth guide for handling all your relocation-related needs.
Choose a Great Location
If you are being transferred within a company, you may be given a choice between a few cities or directly assigned a location. However, if you’re relocating independently, you have a plethora of options to choose from. When shortlisting locations, look for the following features:
- A thriving job market in the field of your expertise.
- Friendly payroll tax laws that result in low tax for employers.
- Excellent public transport system allowing you to live on the outskirts of cities and reap benefits of lower housing prices.
Shortlist Housing Options
As you will be moving to a new location, it’s a good idea to start by renting a place to live. Renting allows you the flexibility of changing homes if needed while keeping your monthly costs in check. There are various resources online which can help you find the best rentals. Not only do many of these sites have an exhaustive list of options, but provide you with real-time insights related to housing prices and local attractions. Additionally, through their 3D viewing technology, you can virtually tour properties, saving yourself from the hassle of visiting them in person.
While renting is good for the short term, you should start planning to buy a home in the near future. Opt to hire experienced realtors who can help you find a home that meets all your expectations while easily fitting in your budget. There are plenty of homes on the market, but one you may find is a house being sold “as is.” If so, understand that the seller may be asking for less than market value, but certain risks are involved because there is no requirement for the homeowner to make repairs to the property as a condition for selling. This means you may be out quite a bit financially if major repairs are in order.
Calculate Your Costs
In addition to your rent, consider how much it will cost to live in your new location. Common costs to research include:
Moreover, you’ll need to decide whether or not to hire movers. If you are moving to a nearby state, have a car, and choose to carry minimum belongings, moving independently can save you hundreds of dollars. But, you will need to buy necessities such as furniture, linens, cutlery, and more post-move. Conversely, for those choosing to move most of their belongings across long distances, hiring movers will be a wise choice. Even though you will incur a cost, it’ll tremendously reduce your moving time and make the process easier.
Fund Your Move
If you are being relocated to a different company office, prior to accepting the offer, negotiate how your employer will help in the process. This could include reimbursement for moving costs, assistance in finding a home, an increase in salary to cover higher costs of living, or other forms of assistance depending on company policies. In addition, selling your home will provide a major influx of cash for your disposal. As reported by Time, work closely with a realtor who can get you the best price for your home.
Furthermore, start focusing on saving as much as you can to cover the expenses you expect to incur in the future. One of the best ways to manage finances is securing a job before you move. This allows you to create reliable budgets, have an expected flow of income, and cover relocation costs without making a large dent in savings.
Be Active in Assimilating
Post-move, NetWorkWise suggests focusing on socializing as much as possible. This can include spending time beyond work with colleagues, attending networking events, visiting local attractions, etc. While each individual takes their own time for adjusting to new surroundings, these activities will help you meet new people, form friendships and create a support group who you can reach out to in times of need.
Now that you know what it takes to make a relocation successful, it’s time to start planning your move and getting ready for the next chapter in your professional endeavours.
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