Relocating for Work – Relocation Costs

Relocating for work is a big decision and moving to a new area can bring with it a lot of unknowns. One of the most important things to consider when you’re looking at moving for work is your budget and how any move would affect your financial security. Moving costs will always be a significant factor in any decision you make, which is why many companies will offer relocation assistance for candidates who are moving areas to take a role. This is becoming increasingly common in sectors such as healthcare where home-working is impractical, as it allows employers to attract the best talent from around the UK and beyond.

So what should you factor in if you’re considering accepting an offer that requires relocation?

Moving House

Finding a home in your new area is usually the biggest expense in terms of both time and money, so this is where an employer should provide you with the most support. Your employer may offer assistance in any or all areas of the move, from hiring a removal company to covering any costs involved in selling your home or finding somewhere to rent. This can even extend to helping you cover costs associated with searching for a new home, and the cost of temporary accommodation if required.

Travel Costs

An employer may offer to cover travel costs to your new workplace, either temporarily while you search for new accommodation, or permanently in the form of reimbursed travel expenses. Travel costs to and from your new location can quickly mount up, so it’s worth being clear about what exactly your employer will cover.

Contract Cancellation Fees

If your move requires you to cancel contracts for utilities, insurance, or other services, this can often incur a fee from service providers, and so employers may offer to cover the cost of contract cancellations as part of your relocation package. Alternatively, some larger organisations may offer to help you switch suppliers to ease this process.

Other Costs

It’s worth leaving some room for unforeseen costs that may arise during your relocation. You may need new furniture, changes to insurance policies, and your new job might require a longer or more expensive commute. While employers are unlikely to cover many of these costs, they’re worth considering if you’re looking to relocate, as your new employer may still be able to help with some of the administrative work or get you preferred-supplier rates.

While not every cost of your move can be absorbed by your employer, it’s always worth having a clear idea of the costs and benefits involved in relocating for work, and how your employer might be willing to help.