Preparing for relocation

Moving is never an easy process; it is also one that can be very draining on the finances.  There are a number of things that need to be taken into consideration when relocation is involved.  The first step should be to get organized, particularly when it comes to your financial records.

If you are making a move because you have a new job, you may be able to claim some expenses back when tax time rolls around.  It can be a good idea to come up with a list of deadlines and dates, a ‘to do’ list, and to buy a binder that you can carry by hand that will hold all the paperwork that will be gathered during the course of the relocation process.

One good tip is to create a budget.  This can be hard, as you may be unaware of what to expect and you will have to start researching the cost of living in the area that you will be moving to.  What is the average utility bill there?  How much does it cost to rent or buy an apartment/home?  You will need to make sure that you have some financial cushioning in case you encounter some unexpected costs.

You also need to check with your bank to see whether it has a branch in your new local area.  You might have to create a new account at a bank there, so check to see if there are any penalties or transition fees associated with this.