Five Aspects to Consider When Relocating for Your Job

Starting a new job can be stressful — as can moving to a new home — but when that new job you are starting requires you to relocate, the pressure can increase tenfold. There are usually a myriad of aspects to consider before accepting any new job, especially one that necessitates a simultaneous change in location.

“Relocating can seem like a high-stakes proposition with too many unknowns,” said Lynn Taylor, a national workplace expert and bestselling author. Yet, what if it’s the “perfect job”? Refusing may not seem like an option. However, make sure you consider all facets which could be potentially affected by such a major life modification, and remember to weigh pros and cons.

Whether you have been offered a job with a new company, or your present company is relocating and wishes for you to remain onboard, here are some ideas to consider:

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1. Relationship/Family status

If you’re a single professional, you may not have much to worry about, but if you have a spouse — or especially if you have a family — this decision will certainly have a major impact on those closest to you. Researching and assessing neighborhoods, school districts, the local job market status for other adults in your household, as well as overall proximity to other necessities should be among some of the deliberating factors. In the article, Should You Move For a Job? When Relocation Makes Sense — and When It Doesn’t, CareerCast.com suggests asking yourself if the move will be a positive one for your family, or if it will create serious problems.

2. Budget and relocation costs

When considering a long-distance job transfer, determine whether you can actually afford the cost of the move. Is the company offering to pay for relocation, and if so, do they offer just the basics or a comprehensive plan toward new homeownership as well? For those looking to purchase a new home within this context, Zillow.com suggests asking if the company offers a Guaranteed Buy Out (GBO), in which they will purchase your home if you are not able to sell it within a given amount of time. Ascertaining the presence, as well as the quality, of the company’s relocation package is a vital step before making any final decisions.

3. Cost of living and lifestyle

Be sure to thoroughly research the area to which you plan to move. Is it more expensive, and if so, by how much? How much will your cost of living increase, and will you be getting a raise to compensate for enhanced costs? You will also want to make sure that the new city is somewhere you would actually enjoy living. Look into aspects such as weather, traffic, businesses, crime rate, and any other factors which are of importance to you.

4. Financial profile of the company

It wouldn’t do you any good to relocate for your job if the company is experiencing financial difficulties. You may be setting yourself up to become unemployed in a new city. Research the company’s portfolio, stocks and other available financial material to make sure it is a stable enterprise before deciding to uproot your life and that of your family.

5. Plan a visit

According to Brenda Harrington, president of Adaptive Leadership Strategies, it’s vital to not only travel to your new prospective location, but also immerse yourself in the local culture and activities. Attempting to grow a personal perspective on what the living experience would be in the new location can be very beneficial not only to you, but to those in your household.

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THE TAKEAWAY

Relocating can be exciting, but it can also be risky. Make sure you do your homework beforehand. If a company is willing to offer you a job, and even assist with your relocation process, they will likely offer you a reasonable amount of time to consider the opportunity and perform the necessary research. As the old adage states, “it’s always better to be safe than sorry”; and making this determination before you sign any final agreements will help to ensure that you have made the right decision for you, as well as those who depend on you.

Fred Coon, CEO

 

Stewart, Cooper & Coon, has helped thousands of decision makers and senior executives move up in their careers and achieve significantly improved financial packages within short time frames. Contact Fred Coon – 866-883-4200, Ext. 200