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Out-of-State Relocations

Out-of-State Relocations

Part II: Questions to Consider

Last article we looked at how to market yourself to employers in another state. We now want to look at questions to ask when weighing a move. Whether you are considering relocating across town or across the country, there are several things that you should keep in mind when deciding whether or not to do it, and if you do decide to do it…how. One thing is for sure, relocations are never as easy or as budget friendly as we think.

We have costs on the leaving end as obvious as premature lease cancellations and as subtle as all the social costs tied to farewell parties and saying goodbye. Costs on the other end can be as obvious as buying a new home, and as subtle as car registration tags or school and activity re-enrollment costs.  The relocation decision is different depending on the reason. If your employer is offering to move you either for a promotion or simply to get you back home, that’s one thing. But if you are moving yourself in hopes of finding a new job or starting over, that’s another. Neither, however, is trouble free, so when weighing the pros & cons, take serious stock of the following:

1.     If the move is employer-driven, will you be happy moving from the large city office to the small satellite office, or vice-versa?

2.     If the move will require you working off-site from your team, are you prepared to manage long-distance?

3.     Is moving closer to family and friends truly the dream come true that it appears to be?

4.     Is moving away from family and friends truly the answer?

5.     If the move away from the big city is going to require the purchase of a car, have you also considered the cost of insurance, taxes, titles and tags, maintenance, gas, and parking?

6.     If the move to the big city seems lucrative because you will be able to sell your car, have you also considered the cost of public transit, taxis, and all the costs associated with urban food shopping?

7.     Your income might rise, but what about the cost of living?

8.     Are you moving from a low-tax state to a tax-happy state?

9.     What costs will you incur for breaking leases prematurely, selling in a down market, or short selling?

Once you’ve answered these questions and decided that the move is the best thing for you and your family, the important thing is to do it right. Stay tuned for Part III where we look at logistics and specifics to ease the transition.