You got a new job and that’s exciting. It’s even exciting that you’re moving to a new town. The only thing that’s not exciting? The thought of leaving your house, finding a new place to live, packing, unpacking, and trying to get Wi-Fi and cable as quickly as possible. It’s a pain—and it’s expensive.
That’s why many companies will offer new out-of-town hires a relocation package. It can range from a few hundred dollars (very weak) to close to $100,000.
Here’s how to negotiate your deal.
Relocation Package Negotiation Tip 1: You Have to Ask
Every company is different. Some may present you with a detailed relocation package. Others will wait till you make the first move. This isn’t the time to sit back and see what happens. If you want a relocation package, you may have to ask—before you accept the job. And make sure you get it in writing.
Tip 2: Know What You’re Asking For
The bare minimum is to have your moving costs covered. Start by finding out how much it will cost you to pack and move.
Tip 3: Consider Secondary Expenses
Here’s where you have to dig a little deeper. Take some time and think of every way this move will affect you and your family financially. You may not be reimbursed for every item on your list, but it’s a good starting point. Here are some examples of things that may be covered:
• Trips for you and your family to your new location to do some advance scouting
• The cost of selling your old home and buying your new home
• Help with your spouse’s job search
• The cost of breaking a lease at your old home if you rented
• The cost of school tuition if you leave in the middle of a semester
• School choice assistance
• Elder care
Tip 4: Think About Temporary Housing
Let’s say you’re moving to Kansas City. Sure, it’s possible to head there for a weekend before you start your job and buy a house. It’s more realistic, however, that you’ll want to arrange for temporary housing, so that you’ll have time to get to know the city and make a more educated housing decision. Employers will often cover this for a set period of time—usually about 60 to 90 days.
Tip 5: Don’t Forget About Taxes
There are a few different ways that you can be reimbursed for relocation expenses. One option is that your new employer will give you a lump sum to cover your costs. If that’s the case, you’ll have to pay taxes on that money, which means you should negotiate for more than you actually need. A better option is to ask your company if they will bill directly for moving services, which simplifies everything for you.
Relocation Packages and StorageMart
If you do end up in temporary housing, there’s no reason to unpack a house’s worth of stuff since you’ll just be moving again soon.
At StorageMart, we offer self storage units
that are clean, well-lit, climate-controlled and available on a month-to-month basis. Check out our storage unit guide
or rent a unit online today
Moving is hard, but self storage can help lighten the load—and make the whole process more enjoyable.