Guest Blog #189, Entry #673, September 23, 2011
If you are thinking of changing jobs and relocating to a new city, state, or even country, have you thought about the cost, time, and wear and tear on your family? While job relocating can be beneficial, think of all of the factors to help you and your family make an informed decision about moving. My Guest Blogger gives you 3 cost saving tips to consider.
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Job relocations have become more prevalent in recent years as job seekers have become more flexible due to changing markets, high unemployment rates, and the increasing popular of corporate relocation to cut costs. Although relocating can be a great way to boost your career and long-term employment prospects, there can be some hidden costs to such a decision. Here are some things to consider before relocating.
1. The cost of replacing lost or damaged possessions.
Moving in general is an expensive and time consuming process. It is all about taking all your possessions, packing, sorting and then moving them across sometimes vast distances. Items can be broken or damaged during the move. It is important then to make sure you enlist a highly-reputable moving company – which is hopefully something you can find with the aid of your company’s corporate employee relocation firm.
Working with a corporate relocation service can help you find a good moving company, work out other moving details (like property transfers and sales), and they can even offer advice if things go wrong during the move. These services will help you dramatically reduce the stress involved in your relocation, so hopefully your company will “spring” for one. Regardless, there’s always a chance your possessions will get lost or damaged in a move. Therefore, it’s good advice to plan for this possibility.
2. Negative equity in real estate.
Negative equity in real estate is also referred to as being “upside down” or “underwater.” Essentially, it means owing more on your home than it’s worth on the current market.
Negative equity has become increasingly common in recent years due to the mortgage crisis. There are many reasons for negative equity, such as depreciation due to declining property values or the fact that your house may have been overvalued in the first place. Regardless of the reasons, the end result is still the same, and unfortunately this is a problem for many people who undergo a job relocation.
If you must sell your home while you’re living and working out of state, it’s a good idea to ask a local relative (or hire someone) to check on your property regularly. If your home is vacant for a period of time, it can be vandalized or fall into a state of disrepair…neither of which help you sell.
3. Lost personal time spent dealing with your move. The personal time it takes to plan, coordinate, and then actually move your belongings can take weeks or even months to plan. Packing alone is time consuming because you have to organize everything first, buy boxes and then pack it up.
Then, once you’re packed up, you still have to coordinate the moving date, contact movers and/or rent a moving truck, and etc. This is not only costly in terms of dollars, but it definitely takes time.
Relocating is often a stressful experience that can be hard on your family, so it is not something to be taken lightly. You don’t want to underestimate the time you need to help your family both physically and mentally prepare.
Image courtesy of Allerair
While job relocations can be very time and money consuming, it’s usually because they’re worth it. It’s a huge compliment when your company thinks enough of you and your work to move you across country, and it’s likely your career prospects are a little brighter as a result. Good luck!
Author Jason Lancaster works with TRCGS.com, a corporation that helps employees and companies relocate. If your company is relocating your office, be sure to have them visit TRCGS.com.
For more moving tips on Stagetecture, click here.