Before Pocketing $5K, Ask Yourself These Important Relocation Questions

July 13th, 2021

Small communities are getting creative and opening their pocketbooks to solve their severe labor shortage woes. Hamilton, Ohio, is doling out $5,000 for student loan debt to young workers who move there. Grant County, Indiana, is offering $5,000 to people buying a home. And North Platte, Indiana, isn’t messing around: $10,000 to anyone who moves there for a job. The chamber will hand over the check at a ceremony in your honor.

Before you jump on some free cash, there are many things to consider. Ask yourself these questions before you relocate for any job to ensure the decision is the right one for you.

What’s the Cost of Living?

A big pay bump often lures people into relocation, but it’s important to consider the changes in cost compared to what you are dealing with currently. An apartment or house in one city could be significantly more in another city, so that pay raise might not necessarily mean more money in your pocket. In addition to housing, consider costs of food, entertainment, transportation, etc., to make an informed decision.

Will It Affect Your Family?

Even if you don’t have immediate family (spouse, kids) to consider, you still may want to think about the impact of your decision on other people in your life. Aging parents may need assistance, for example, so living nearby could be advantageous. What’s more, family can make any place feel like home, so for some, living near relatives is a priority, while others may not be close to family and therefore it’s not as much of a consideration.

Is There Relocation Assistance?

Moving isn’t cheap. It takes a lot of time, effort, and money. It can be even more if you’re moving a family. Does the company you’re going to work for offer relocation assistance, or at least curb the expense? In addition to financial considerations, some relocation programs assist workers in finding new housing, schools, day care, and other important aspects of living that need adjustment during a move.

Is There a Catch?

It’s important to read through all documents and agreements so you understand any requirements and restrictions. For example, many companies will require you to pay back relocation expenses if you decide to quit within a certain period.

Is There Growth Potential?

If you uproot your life for this new job, you want it to be for a good reason. Beyond the position you’re taking, do you see room for professional growth and development? You want to ensure that your near and far future is bright, so take into consideration today, one year from now, and five years from now.

Does It Feel Right?

There will always be pros and cons to relocation. Few things in life are cut and dried. However, if it doesn’t feel like the right decision in your gut, step back and reevaluate. You don’t want to make such a big change if you’re having strong reservations.

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