Most everyone knows that moving to a new city for a job can be a costly proposition in terms of time and money. The list of things to budget for is extensive. Even the most budget-conscious of people may not remember to put aside for some things that could come up during a move to Austin. If you are thinking about a new job in another city, here are five expenses you should evaluate as you put together a budget.
1) The cost of moving everything
If your new job is with one of the 41% of companies in the United States that does not make available some form of funds to help pay for the move you will be making, this is a bill you will have to take on yourself. Whether you employ a company to relocate your household or you choose to handle it yourself, it can get costly. Deciding upon the former has higher upfront costs, but there will still be considerable expenses with the latter selection, as well.
To begin with, you'll have to rent a trailer (and a hitch if you do not already have one installed on your vehicle) or moving truck to transport your possessions. Next, you'll have to think about travel-related expenses while you are traveling to Austin.
A do-it-yourself move may not be as expensive as having someone else to do it for you, but it will not be cheap. Plan accordingly. Read more about the Pros and Cons of DIY Moving here.
2) The cost of traveling to a new location in Austin
While we are on the subject of traveling…
This was mentioned briefly above, but the cost of traveling to a new location should be brought up when discussing a move. If you plan to drive, you need to budget for food, gas, lodging, and tolls, if applicable, as well as set some money aside for vehicle repairs in case there is a breakdown while you are on the road.
Even if you hire a professional mover and plan to fly out ahead, there is still the cost of air travel. Either way, you will need to allot some expense to get to Austin.
3) The cost of temporary housing in Austin
If you do not have permanent housing lined up when you arrive in Austin, you will at least need to make arrangements for a location to live temporarily while you search for something more permanent. It may be a hotel, or a month-to-month lease on an apartment, but it is something you need to take into consideration. Another matter should be the cost of storing everything you do not need while you hunt.
4) The cost of living in Austin
The compensation you are being offered may be ten percent higher than what you are currently being paid, but how much will that matter if the cost of living is even higher in the town you will be relocating to? Evaluate what you'll be spending there for things like groceries, transportation, and insurance to what you are spending presently to see what the change in costs of living could cost you.
5) The cost of leaving your current community and creating a new one
No, this cost is not a monetary one, but it is crucial to think about when you are relocating for employment. Unless you are a loner, you have a community of people where you are currently that probably consists of family, friends, and co-workers. Moving to a new city will sever some of those relationships and make others more difficult to preserve. It can take considerable amounts of time and effort to build similar bonds in a new place, so prepare yourself correspondingly.
