First Time Relocating?

Here’s what you need to know

If you are reading this, chances are you have just accepted a new job or position that requires you to relocate to a new city. There are many things to know and think about when it comes to relocation, which can be very overwhelming for the seasoned relocating employee, and doubly so for someone who is relocating for the first time.

American Relocation Connections (a leading global relocation company) has compiled a good starting point of some of the industry’s best tips and practices. The below list covers some of the key things that you should be thinking about and some questions you should be asking. Relocation can be extremely complex and unique to each individual’s situation so obviously the below list is not inclusive of everything, so we encourage you to contact us for more in-depth information and assistance.

Relocation Costs

Relocation is expensive, so make sure that you completely understand all of the costs that you will encounter during your relocation process, which costs your employer will be covering, and which costs will be coming out of your own pocket. Are there some cost-saving or tax saving benefits that you should be aware of, such as large volume discounts or direct bill vs direct reimbursement. Make sure that you aren’t leaving money on the table.

Understand Your Benefits

There are many different components to a company’s relocation benefits package. Make sure that you carefully review all of the information provided by your employer, and don’t be afraid to ask questions if you are uncertain about anything. Please click here to download our list of FAQs about relocation benefits.

Negotiating Benefits

Some elements of your relocation benefits package may be negotiable. For example, some employers might put a monetary cap on the amount that they will be willing to pay for the shipment of your household goods. It would be better for you to negotiate with your employer to have them pay for the total cost of the shipment or put a cap on the size of the shipment instead of only paying up to a certain dollar amount. (The costs to ship goods can vary drastically from region to region, time of year and depending on the contents of the shipment so be very wary of a capped dollar amount and how the amount was established and if it is sufficient amount to cover the cost of your relocation). As with any hiring, there can also be “discretionary benefits” offered to you, including things like insurance, retirement plans, wellness programs and more. 

Tax Implications

Do you have a home to sell before moving to your new location? If so, your relocation may include specific home sale benefits. But, be aware that not all home sale benefit programs are created equally. Some have higher tax implications than others. Click here to for a 2 minute demo on the tax implications for home sales in relocations. Find more information on costs and examples of buyer value options here.

Cost of Living

Have you done your homework about your new location? Cost of living expenses can vary significantly from one city to the next. Make sure that you research your new city, so that you have a clear picture of what your new life is going to cost you. There are many available online tools and resources to help you. For a FREE relocation cost estimate complete this form.

Who’s Involved

This can be the confusing part. As soon as the wheels are in motion for your relocation, you will most likely be contacted by various providers of relocation services. Depending on your particular circumstances, they might include: relocation counselors, Realtors, corporate housing providers, household goods movers, appraisers, inspectors, etc. If your relocation is being managed by a Relocation Management Company (RMC) like ARC, then we will be managing these service providers as well as all aspects of your relocation.

Who to Contact

With so many different service providers involved, you may not always know who to contact. We make that easy for you. As your primary contact and personal counselor, we will be there for you every step of the way!

Plan for the Unexpected

As with any major life changing situation, it is important to plan for the unexpected. This can include anything from minor out-of-pocket expenses, to large unbudgeted items. Unfortunately, it can also include the loss of a job following a relocation, or disenchantment with a job or new city. While that might seem like the worst case scenario, it is important to remember that even under the best of circumstances, unthinkable things do happen.

It is only natural for you to be full of questions and anxiety, because let’s face it – you don’t know what you don’t know. Fortunately, you have come to the right place. Relocation is our business, and making it easier for our clients and their employees is what we do best!

For more information, please contact ARC at www.ARCrelocation.com or Toll Free 866-697-3561