Are you thinking it’s time for a change? Is that same old neighborhood giving you the same feeling as eating the same lunch everyday? Perhaps it’s time to consider moving cities. Or maybe the company you work for is forcing you to move.
Whatever it is, before you pull the trigger in moving, here are some important factors to consider.
1. Cost of Living
This is one of the biggest components of moving. People are driven by money even if they try not to be this way. The fact of the matter is that in order to live you need to be self-sufficient somewhere or have enough money to take care of your basic needs.
How does the cost of living in your current city compare to another city? Take a look at this Cost of Living Comparison tool. Some factors are housing costs, groceries, utilities, and insurance among many other things.
If you cannot afford to live in another city while maintaining your living and retirement objectives, then perhaps you might reconsider the move.
2. Costs Associated with Moving
This expense is quite broad and will be different for everyone, but is important to consider. If you want to move to another place, you either need to store, get rid of, or transport your goods. Transportation and storage will cost money unless you have someone that can help you out. Getting rid of goods by selling, donating, or disposing them will cost you time and energy.
How much is it going to cost you to transport your goods to another place?
Here are some big name moving companies that J.D. Powers evaluated. I personally have recent experience with Mayflower Transit and overall the experience was positive, minus a few details. I recommend picking one of those for a big move since you won’t save much money moving it yourself. You won’t save much money by getting a quote online either. Many of those companies are shady businesses. If you do go with a lesser known company, be sure to check out their rating with the Better Business Bureau to see if there are any complaints.
Other costs include setup costs in your new city. Any furniture, supplies, or cars you need to replace will be a part of that cost. If you choose to ship your car that will be another expense. You could drive it but you’ll pay for gas and possibly hotels along the way.
If a company is covering your relocation costs, consider yourself lucky. Also, keep in mind you may be able to deduct moving costs in your taxes, though I am not a certified public accountant, so please see a professional for details.
3. Taxes and Wages
How will your salary from before compare to your salary in the new city? Consider after-tax pay. Suppose you made 10% more in New York, NY than you did in Denver, CO, but the cost of living was 30% higher in New York, then you are probably losing money. Maybe the qualities of the new city are worth the premium to you, but maybe not.
4. Does the new city have a “feel” that you enjoy?
When you go to a city, sometimes its “feel” just does not suit you. There may or may not be single identifiable qualities that you like or dislike, but you should pay attention to this internal gauge anyway. Part of the “feel” could be the culture of the place. Are you more liberal or conservative? Do you prefer a more internationally diverse place or somewhere that is more homogenous?
Go with your gut instinct. If someone you are moving with has a good feeling and you have a bit of apprehension, then you’ll have to talk it out, but if it’s a move you’re willingly doing on your own then ask yourself, “How does it feel?”
5. City Size
I personally like all that a big city has to offer, but don’t like the chaos of living in that mess. It’s nice to come back somewhere peaceful. Others feed off of the hustle and bustle of the big city. Then again there are some people who enjoy the peaceful small town ambiance. Ask yourself what you prefer and see how that fits in with the places you are evaluating.
6. Does the city offer the amenities you require?
Are you a big sports fan? Do museums and art suit your fancy? Maybe you’re a fan of live music. It could be that you like to travel and require a city with multiple airports and cheap flights. Are outdoor activities such as skiing, hiking, fishing, hunting, or anything similar important to you? Is it necessary that you have plenty of dining options, or lots of fresh produce for you to make your own meal? Health care will be important for some people. Does the city offer the facilities that you need or could foresee needing?
7. Crime
Do you mind risking the safety of you or your family? If the crime is petty theft, maybe you won’t be fazed by the matter. Understand the risks associated with living in certain cities and neighborhoods for that matter. Decide if it is worth it or not to live in a place with more or less crime.
8. Sunny Hawaii? Freezing Alaska? How about the weather?
Weather is important to consider. Do you like lots of precipitation (rain, snow, etc) or do you like places that are drier and less humid? How about the temperature? Think about whether you want to live in a warmer or cooler place. Some places have less of a change in seasons than others.
9. Education
A good education system will be on the minds of many. Check this out before you move somewhere and decide how important a good education is for your children. Think about the public vs. private debate. Can you afford it? If so, are there good private schools around? If not, then how is the public education system in that area? Perhaps you would like to pursue a higher degree yourself while working. This is also something to consider when moving to a new place. Although some would consider an online degree, many people still choose to receive a degree from a standard institution.
10. Transportation
What sort of transportation options does the city offer? If you hate driving and want to move to Los Angeles, you might reconsider your options. If you love to drive and want to move to New York, you should also think twice. Perhaps you enjoy biking around town. Some places are more friendly than others in this regard. Identify what the city has to offer and see if it fits your criteria.
This is just the start of a complex and involved thought process behind deciding to move somewhere. Here are some other sites that may help you decide on specific locations.
If you have any thoughts to share or other knowledge to add, please leave a comment as I’m sure we would all be interested in what you have to say.
