Planning for a big move

Moving involves a good deal more than just shifting boxes around.  Although underwriting a move can cost hundreds if not thousands of dollars if you cannot get your employer to pay for it, the reality is that relocation can also be the golden ticket to a much bigger salary, a different neighborhood with more modest housing costs, or even a completely new locale with a much lower cost of living.

Different housing variables, commuting costs and taxes can affect people’s bottom lines in a big way if they move to a new locale.  If you are aware of what these costs are, you will be able to negotiate a bigger salary in order to make certain that you will still be able to break even or even end up with more take-home pay if the wages seem to be the same.

The best situation, of course, is to move somewhere with lower costs that has a better-paid job at the end of it, especially if you can get your employer to pay for the cost of the relocation.  Some businesses are willing to underwrite such moves when it comes to valued employees.

If you believe it is possible that your firm may move you again at a later point, it might be a good idea to ensure that you take out an adjustable mortgage when you purchase a home, as well as buying a home with a good resale value.