The Corporate Relocation Moving Guide

08/28/15
The Corporate Relocation Moving Guide

Our careers can take us down unexpected paths. Sometimes that can include relocating to a new city. And while changing cities can be very exciting, the transition from your old life into your new one can be quite an undertaking. Finding a new home, overseeing the safe transport of your belongings, enrolling kids in a new school and acclimating to a new work environment can be a lot for anyone. But it certainly doesn’t have to be difficult. With some careful planning, relocating can be made less complicated. 

Here are some guidelines to help make the relocation to a new city easier:

 

Find out everything your company offers to relocating employees.

Many companies have resources available for employees that need to relocate for their job. Some may offer to pay or reimburse employees for flights to the new city while searching for a home, temporary housing, professional movers, car transportation and more. Companies may have deals with relocation businesses that provide services at a discounted rate. They may have preferred real estate agents who specialize in relocation. Some may even provide services to help spouses in their job search as well. It never hurts to ask what parts of a relocation your company will pay for or provide assistance with.  If they offer help, take advantage!

Take the time to learn about neighborhoods.

Don’t purchase a home in haste! Contact a local realtor to discuss your requirements, then travel to your future city of residence and drive through recommended neighborhoods yourself. If possible, take the drive during hours when people are home. You’ll really get a feel for the life of the neighborhood. Is it quiet with older residents? Is it buzzing with activity from families with young children? Visiting will help you move into the type of neighborhood where you’ll be comfortable. And don’t forget to research schools grades and crime information. If you don’t have time to travel before you move, consider renting a place first with a short-term or month-to-month lease and then buying after you gain a better feel for the area.

Research cost differences from place to place.

Make sure to learn about any additional costs associated with the cost of living once you get to your new home. There can be dramatic differences in taxes, utilities and insurance costs from state to state and even city to city. There are even differences that may sneak up on you, like gas and grocery prices. Have a clear understanding of the economics of your new location and you’ll be better prepared to mitigate any higher expenses. This knowledge will also help you make a more sound financial decision when choosing your new home.

Keep your receipts.

You might be able to deduct a portion of your relocation expenses from your yearly taxes. The IRS details the following requirements for claims:

  • The move must be work related
  • The move must be a minimum of 50 miles away
  • You must work full-time for 39 weeks at your job the first year. (78 is self-employed.)

Relocation is never cheap, so take full advantage of these deductions available to help ease the burden. Visit the IRS website for more.

Use these tips as a guideline for relocating and you’ll keep unwanted surprises to a minimum. Start off the newest chapter in your life with the excitement it deserves. If you’re relocating to the DMV area, contact the relocation experts at the Creig Northrop Team for assistance!

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