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I was offered a package that basically just said we'll cover your expenses to move. There were some exclusions, I think mostly based on tax rules, but it wasn't
by manyxcxi 10y ago
I was offered a package that basically just said we'll cover your expenses to move. There were some exclusions, I think mostly based on tax rules, but it wasn't a lot. I could imagine if I had submitted a $30K bill it would've been an issue though. The difference is that it's not like I could economize to pocket extra cash.
$30K seems reasonable, if not even generous. I guess it's all relative to your base comp and if you're getting any other bonus. For instance, I also received a sign on bonus that was divorced from anything about the moving costs.
To move from Portland to Seattle (I know, not THAT crazy of a move) it cost us about $10k including having the moving company pack up the entire house, storage fees, etc.
If the wife hadn't have been pregnant and I would've taken more time off (I literally ended one job on Friday and started the other on Monday) we could've probably halved that cost, if not more.
If it was me and I had a $30K lump sum I'd do what I could to minimize the charges the moving company was hitting me with by packing up myself (I hated how they packed us up and I had more things broken in that move than I have ever had in any move and I've moved across the Atlantic and back).
You also will want to look at selling anything that's kind of big or heavy that isn't sentimental and worth less than a few hundred dollars.
For example, get rid of any IKEA furniture you have and buy it again when you get to where you're going. It will literally cost you more to move than it is worth.
On that note, especially if you have lots of stuff and/or are in a fairly big house now- try to sell or give away as much as you can. Use this as an opportunity to clean out the accumulated life cruft and start fresh. If it was up to me when we moved we would've been able to fit it in the back of my pickup.
Save money by driving instead of having your cars shipped and flying- and take a vacation while you're at it. Shipping your cars costs a lot, it's a hassle, and they'll probably get banged up. Plan a road trip and have fun with it.
- nbclark 10y agoOne thing to keep in mind is that relocation expenses trend to be tax deductible. What's not used will be taxed as a bonus