CB Cares July 6, 2023

Your Guide to Employee Relocation

Moving out of the area? We’ve got you covered!

Congratulations! You’ve just landed a position in a new city, state, or even country! But before you start packing boxes, there are some very important things to consider throughout the relocation process. Not sure where to begin? Check out our tips below to ensure smooth sailing into your new location.

Negotiate Your Relocation Benefits

Make no assumptions! While the majority of US companies offer relocation incentives to new hires, if a package was not discussed in your offer, you’ll need to start the discussion on your own. Go into the negotiation process understanding the different ways in which your new company can assist you during the relocation process, anything from covering temporary housing costs to helping you sell your current home, and an estimation of your needs. Once you’ve figured out the areas in which you’ll be receiving assistance, you can work to put a plan in place for the rest.

Understand the Tax Benefits of Relocating

If your new position requires relocation, any costs of moving or travel may be eligible for a deduction if they meet IRS standards. Consult with a tax professional to ensure you’re maintaining all proper procedures.

Be Fully Aware of all the Costs in Relocating

Be sure that when you begin the moving process, you are taking into account all costs associated with relocating. Every market is different, so when you’re looking for your new home, factor cost of living, taxes, etc. into your decision-making process. In addition, do not overlook the cost of travel. If you’re looking at housing options, you may need to travel to the area prior to your move to tour your possibilities. These expenses can be easy to overlook when you’re attempting to calculate moving costs.

Find Help

Contact your local real estate agent. While working with an agent is crucial for the home selling process, your agent will likely be able to put you in contact with the RIGHT agent to help you throughout the buying process. Remember that an agent is so much more than a resource for your real estate needs, but rather a guide in an unfamiliar community, so finding a person you trust is an important task. And who better to recommend a great agent than the agent you’re already comfortable working with?

And Finally…celebrate this new chapter in your life! After all this hard work, you certainly deserve to!!

For more info on relocating see: www.coldwellbankerishome.com/relocating