Today’s guest post on moving to another city is sponsored by CO-OP Financial Services.
On average more than 40 million people move each year in the U.S. and it is estimated that 80% of those moves occur between April and September. If you’re considering moving to a major city, to pursue career opportunities, be closer to family, or just a change of scenery, you’ll want to be well prepared to make the big transition. Here are some questions to ask yourself to make sure it’s the right decision for you:
How easy will it be to find a job?
If you aren’t relocating for a job, do some research to see what kind of work opportunities exist in your potential new stomping grounds. You’ll also want to look at the rate of unemployment in the area. A good place to start are job sites and the Bureau of Labor Statistics. Even if you are relocating for a specific job, if you end up losing that job, are there other companies in the area that you could potentially work for?
What will be the difference in the cost of living?
You may be getting by comfortably on the amount you currently make, but how much would it cost to rent an apartment that’s roughly the same size with similar amenities to your current living situation? Budget accordingly and make adjustments to account for any discrepancies beforehand so that you’re prepared.
Does the culture “vibe” with my interests and values?
Make sure the city you’re moving to jives well with you who currently are, and who you ultimately want to be. For example, if you’re currently an urban dweller who craves spending more time in the outdoors, will the place you move to have access to nature? Or if you’re a huge art lover, does the city have a bustling arts and culture scene? Tip: To test out the waters, stay at least one week in the place you’re thinking of moving to.
Do I have enough savings to tide me over?
Besides money to pay the movers and put down a deposit on a new place, you’ll also need some funds socked away to tide you over as you get settled. This is especially important if you don’t have a job lined up. Tip: You can kill two birds with one stone by selling or donating items you no longer need.
If you’re moving for a job relocation, check with your future employer to get the full details of your relocation package. Will they be paying for all of your relocation fees, or just part of it? Will they give you the money to relocate up front, or will you get reimbursed after the move?
To make sure you have a handle on your expenses, if you’re a member of a credit union, visit your local branch to see what resources are available to you for your upcoming move. And because of shared branching, you might be able to get in touch with a branch in your potential new stomping grounds.
What are the cons of living there?
Make sure you are fully aware of the cons, and that you’re okay with it. While there is no true formula to figuring this out, try sitting down and writing a list of both the pros and cons, and determine if the pros outweigh the cons.
While moving to another city is a huge change, by doing a little bit of planning and asking yourself some important questions, you’ll be prepared to make the big move.