The pandemic has forced many people into working from home permanently. Because of this, many people are considering relocating.
Whether you want to save money, be closer to family, or are looking for a safer neighborhood, you might want to read this post first to see some factors you need to consider before deciding to move.
Work From Home
Proximity to one’s workplace has always been one of the major determining factors when choosing a new home. However, the pandemic continues to change our perspective on things. Even work culture has been modified, and employers have realized that remote work is feasible for many positions. Suddenly, it’s possible to work from anywhere!
However, it’s necessary to factor in how effectively you can work from home long-term. Will you be able to deliver the same quality of work despite being away from the usual office setup? If you’re a team leader, can your team function if you are only managing via emails or Zoom calls? Ideally, a great-working team can deliver the best results no matter the conditions, but there is something to be said for being in-person.
If you do move places, will you be able to attend in-person meetings if the company requires you to? What would happen if out of an entire team, you’re the only one who works fully remotely due to your new location? These two questions can greatly affect your value as a team member.
If your company does function well working remotely, you have the wonderful opportunity to relocate from a central area to a more suburban location. Things are uncertain during these times, but you can succeed with a well laid out plan. While it is important to live in the moment and address your immediate needs, don’t forget that you have to make decisions that will help you thrive and succeed in the long run.
Career Opportunities in Your New Location
You have to accept that moving might close opportunities for you. You may also want to consider if you are likely to switch to a different career in the future. If so, perform in-depth research on what opportunities your new location can offer you.
You should consider moving to a location that has a stable job market for your chosen path. It can ensure that you have a fallback if things don’t work out with your current company. You can also look for firms that are willing to employ remote workers even after the pandemic. That way, you’ll have both the place of your dreams and job security.
Your partner’s career is also an important factor to weigh. Will they be able to find job opportunities just as easily as you? The move should still offer both of you access to income.
Salary vs Cost of Living
One option for moving is simply vacating the big city and moving to the suburbs. However, you need to keep in mind that the suburbs can be pricey, too. It’s important to do research and look for a desirable neighborhood that will actually decrease your overall cost of living.
A few things to consider are differences in transportation costs, utility costs, and food and entertainment costs.
Since you’re not in close proximity to your workplace, you might need to drive to your office from time-to-time to attend meetings. This could also cost you a lot once quarantine restrictions are lifted and businesses go back to normal.
You also have to survey the average cost of necessities in the neighborhood you’re looking at. There might be a significant difference in utilities, recreation, and even grocery prices. You might think these are small differences, but they can add up over time especially because these are essential monthly expenses.
Quality of Life
So do you really want to leave your current home? You probably chose that place because you love everything around it. The walkable shops, the nearby parks, even the weather. Do these things still bring joy to your life? You either have to wait until you can fully enjoy them again once things go back to normal, or move on and start a new life elsewhere.
The relationships you’ve made in your neighborhood also matter. Your personal network might also affect your decision to move. Is moving far away from your friends going to significantly affect your life? Or maybe meeting new people isn’t an issue with you at all?
Your kids’ lifestyle is also on the line. They might have to change schools, meet new friends, and grow up in a totally different environment. Do you think your children can handle this sudden shift? Not all kids can adapt easily, and this move might greatly affect their future.
For more great relocation tips, visit CORE Finance Group.
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