Relocating for a Job? Here are a few things you need to consider
There are many factors that one needs to consider before looking for a job change or accepting a new job offer particularly when you have to relocate to a different city or country. Many a times candidates make these decision in haste or simply by being blinded by the five or six-figure salary that is being offered, but those numbers can be deceiving. There are many factors like cost of living, lifestyle, social support, education etc that one needs to consider. In a situation when you’re relocating for a job it’s not just your decision but also a decision that you must make with your spouse, family. Inspite of the salary hikes that come with relocation the reality is a little more complicated.
Here are 8 factors you and your spouse/parents need to consider before you relocate for a new job.
Salary: Negotiate your salary in such a way that you will not only be happy with the raise you get, but also comfortably cover the living expenses in the new city. Find out if any of your moving expenditure is tax deductible.
Spousal Income: Finding employment for the relocating employee’s spouse or partner can be difficult. It will be a while before they can find a job in the new city and you need to ensure that you have enough buffer to tide over financial difficulties until you do so.
Relocation Assistance: Moving homes is often a painful, messy and costly ordeal. Most companies offer relocation assistance to employees. Make sure your new job has this or at least ensure that your new salary will be able to cover for the expenses. If your employer doesn’t offer relocation assistance, ask for it.
Social Support: Moving to a newer city often means the lack of social support initially. For one, it could mean that your parents or spouse will be left back in the old city until you figure out if they should move with you too. Look up old friends and acquaintances through your contacts or Facebook and ask them out for coffee or lunch.
Current Home: If you have been living in a rented place, then give the owner a heads-up of when you are planning to move. If the move is going to be sudden, the owners might ask you to cough up like two month’s rent. If you own the house, paying EMIs for your home and rent in the city can be daunting. Then, do you give it out on rent or get a caretaker to maintain the house until you get back?
New Home: Explore the city and learn about its neighbourhoods. Before you find a place to live in, find out which areas are residential or commercial, are these areas dangerous and do they have the kind of facilities that you are looking for? Does the neighbourhood you are eyeing have a good smattering of grocery shops, schools, clinics, hospitals and malls?
Cost of Living Index Comparison: It is important to know how much you are going to spend in the new city so research housing, transport, healthcare and food prices in order to create a realistic budget. Is there public transport? Can you walk to your workplace or do you need a car? Calculate how much your new salary will affect your daily budget and your ability to save.
Education of children: One of the first things you need to check out before moving to a new city is about what kind of schools are present in the city and their distance from your new home.