Relocating Expenses

Home Selling

Moving for Work? Key Relocation Expenses to Consider

February 04, 2019 | by Jamie Ayers

At A Glance

When relocating for work, there are many expenses you’ll need to consider. The most important expenditures include selling your current home and buying a new one. Find out how to save money with a Clever agent so you can spend your time managing the rest of the moving process.

Relocating Expenses

If you’re considering relocating for work, you’re probably excited about learning what your new city has to offer. While exploring the area is important, planning for your moving expenses should be at the top of the list.

From moving expenses to new housing, here’s the complete guide to all expenses to plan for when relocating.

Find Out What Your Job Will Cover

Every company handles relocation expenses differently. If your company is covering some of the moving expenses, it’s important to find out how they will be handled. Some companies will pay for the move directly, so you’ll need to know exactly what will be covered.

Are they paying for packing and transportation or just transportation? Will they pay to ship your vehicles? Will the expenses cover airfare? You’ll want to make sure you know exactly which expenses will be covered and which you’ll be responsible for.

Be sure to keep all receipts in case your work requires them. Even if they don’t, you might be able to deduct some moving expenses on your tax return.

Lastly, you’ll want to find out how the expenses will be paid. Some companies arrange the services and pay directly, while others might expect you to front the money and will reimburse you later.

Others offer a lump soon moving bonus, which they’ll expect you to use for expenses. While this last option might seem ideal, remember you’ll be expected to pay taxes on this bonus come April 15th.

Save on Commission When Selling Your Home

If you own your home, you’ll likely be looking to sell it quickly, for top dollar. A qualified seller’s agent can help you manage the selling process and offer advice to help you get the best offer on your home.

Since you’ll be busy packing, cleaning, and likely visiting your new city, a talented seller’s agent can help navigate the selling process by helping you list your home, set up an escrow account, and even show your home while you’re away. Clever can help you find the best low commission local seller’s agent near you.

Save Money on Your New Home with a Commission Rebate

Did you know you can save on the cost of your new home with a commission rebate? Home Buyer Rebates provide money back to the buyer and can help with down payments and other expenses.

In order to be eligible for a Home Buyer Rebate, you’ll need to find an agent who agrees to give a portion of their commission back to you in the form of a rebate.

Clever works with local agents across the nation who have agreed to offer buyers a rebate of up to 1% of the home’s purchase price.

Fill out our online form to learn more and connect with a top-rated, full-service buyer’s agent near you.

Plan Your Moving Expenses

Once you have agents helping you to sell your current home and purchase a new one, it’s time to start planning out the rest of your moving expenses, from selling furniture to transporting your belongings. Here’s everything you’ll want to arrange.

Selling Unwanted Items

There’s no sense in moving unwanted furniture or appliances to your new home if you don’t plan on keeping them. Earn some extra cash by selling these items before you move. This can help you save on moving costs, while also putting some extra money in your pocket.

You can hold a garage sale or post items online on Craigslist or Facebook Marketplace. This is a great way to declutter and help you figure out what items you might need to purchase for your new place.

Transportation Expenses

Once you know what your job will cover, you’ll want to plan out your moving transportation expenses, from purchasing boxes to arranging movers. If you’re packing yourself, you’ll want to color coordinate your boxes by room, using colored tape or markers. You’ll also need packaging and bubble wrap to help protect fragile items during transport.

You may also have to arrange airfare for yourself, your family, and any pets, if your home sells before you’re ready to move.

New Furniture

If you’re paying to transport your belongings or have a limited budget from your job, you may want to save money by having new furniture delivered directly to your new home. This will save on transportation costs to move these items from your old home to the new property.

Storage Costs

Depending on the timing of your move, you may need to have all or some of your belongings placed in storage. If you’ll only need a storage unit for a few months or less, it’s important to find a storage place that won’t lock you into a yearly contract. You’ll also want to plan out how much space you’ll need, so you don’t pay for more space than you need.

You’ll also have to consider the cost of transporting the items to and from the storage place, either by renting a truck or hiring movers to handle loading, unloading, and transporting.

Hotel Costs

You might need to stay in a hotel for a few weeks in between moving. Booking rooms in advance will help you better prepare for these expenses. If you’ll need to stay for a few weeks or months, you might want to find an extended stay hotel that offers a kitchen and living space within your unit.

If you’re staying for less than a few weeks, be sure to plan on your dining expenses, since you’ll likely be eating out more than usual.

Summary

When relocating for work, be sure to let Clever help you find experienced agents to help you through the buying and selling process. Once you’ve hired agents, plan out the rest of your moving expenses so you’ll feel prepared every step of the way.

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