A new job is nothing short of exciting and chances are if you’ve been offered one, it’s worth packing up your life and moving for it. But before you say yes to the offer, you might want to think about the relocation package, which can cost many thousands of dollars, especially if the planned move is a long-distance one.
Companies often offer relocation assistance packages. Such packages are great because they take some of the moving stress and cost off your shoulders. But don’t be quick to accept just any package. Decide what your individual needs are and make sure the offer works for you and your family. Remember you can always try to negotiate the terms. Here are some benefits you can ask for and negotiate:
Before accepting an offer, ask the company offering the job to send you and your family to visit the prospective city or town you’ll be moving to. This ensures anyone who’s moving with you will be comfortable with the decision to relocate to that area.
You can also negotiate visits for time after you’ve accepted an offer. You can use these visits to scout neighborhoods and go see homes you have an interest in renting or purchasing.
Some companies will pay living expenses for up to 90 days while you’re looking for new housing. They typically house you in furnished executive condos or apartments reserved for this purpose.
Having housing for a few months means you have a bit more time to look for a place that you and your family will be happy moving into. Since you’ll be rent- and mortgage-free during that time, you can save a bit of cash to help you move into your new home—whether it’s a down payment or a security deposit.
Packing and Unpacking Assistance
In addition to relocating your things to a new town, companies will sometimes pay for moving pros to pack you in the old home and unpack your goods in the new one. This is an add-on that many professional moving companies offer and the extra charge may be small enough that you can easily negotiate this with your new employer.
Transport of Goods
This might seem obvious to many but still worth mentioning. If nothing else, your relocation assistance package should include the transport of your items from your old to your new home, ideally by a professional moving company.
If you have a car you’d like to keep and don’t want to drive it long distance—which can put extra miles on your vehicle and also is a lot of driving time—you should see if your new employer will arrange to have it shipped for you. The same applies to motorcycles, boats, and any other modes of transport that you plan to take with you.
Storage of Goods
It can take months before you and your family can find the perfect home to start your lives in a new location. For that reason, you need to have your belongings safely stored. Make sure you negotiate for your goods to be insured and housed in a self-storage facility that’s clean, safe, and climate-controlled if needed.
Moving expenses can be unpredictable. You may need a rental car while your vehicle is being transported, or you may have to pay for meals out if you’re staying at a temporary place without a kitchen. Either way, companies sometimes offer a cash stipend, which you can use for such miscellaneous expenses during a move.
Assistance Selling Home
Some relocation packages may include help selling your current home so you can move to a new home and job sooner. Furthermore, in order to help with purchasing a new home, some companies will offer some assistance such as paying closing costs.