Getting offered a new job in a new place can be an exciting prospect. It can also, however, be a pain if you’ve planted your roots at your current home. Relocating to a new place for a job should not necessarily be an automatic decision. It’s a good idea to weigh your options and develop a financial profile for each option so that you can make the right choice. Personal relationships and roots within the community should also be important things to consider when deciding whether to move or not. No matter how financially wise a move to a new job might be, it might not be worth it if you and your family find themselves alone and unhappy in your new home.<\/p>\n
There are several factors that will effect whether or not a move for a new job is a financially wise decision. The primary cost calculation will be between your new salary and the cost of living of your new home. For example, you may find that getting a 20% raise will not mean much if the cost of living goes up by 50% or more. Likewise, you may find that taking a pay cut may be worth it if you are moving to a place that has a drastically lower cost of living. Other things to consider are how desirable the new job is to you personally and whether you need to take any type of employment that’s available just to make ends meet.<\/p>\n