Don't move! 5 reasons not to relocate for a job
(MoneyWatch) A recent survey from Atlas Van Lines found that 72 percent of companies gave people a mere two weeks to accept a relocation offer. For many employees or candidates, those 14 days are undoubtedly spent weighing the pros and cons. The 361 relocation experts (mostly HR professionals) who responded to this national survey said that housing and mortgage concerns were the top reason for refusing to relocate. Here are other five other reasons experts say you should consider staying put.
You'd lose money on the sale of your home.
If you're going to make more money by moving, but take a huge loss on the sale of your home, a move might not make financial sense. For example, Jill Knittel, chief operating officer at Employee Relations (ER) Associates, shared that one of her clients recently turned down an offer to relocate because the move would have resulted in a $50,000 loss related to a weak housing market.
Why a lateral job jump might be a smart strategy
Expecting layoffs? 6 ways to prepare
Your family isn't on board.
If your significant other can't relocate with you, is it worth it to try dating long-distance? If you're married, is your job able to support both of you until he or she can find a new one? For parents, are your children going to be able to smoothly relocate their own lives, in terms of school and friends? Executive coach Meg Montford says that in addition to these questions, you may have to ask yourself this simple one: "What's most important to you - your job or your home life?" The answer might not be black and white, but asking yourself this question might help you find your answer regarding relocation.
The cost of living doesn't add up.
If a pay raise doesn't cover an increased cost of living, think twice, says Knittel. "Beyond the salary, assess a comparison of the local costs such as education costs, fuel and utilities and income taxes." Try a few different online calculators to make sure you're making an accurate assessment.
You are sure the grass will be greener.
No job is perfect. "If you are of the opinion that a new job or location is going to solve all of the problems you do not like about your current placement, then you should not move," says executive coach Stephanie Somanchi. Plus: If you realize that the problem stems from within you, know that it'll follow you wherever you go.
Your gut check says "no."
Don't forgot to consider your emotions, as well as logistics, when weighing a relocation offer. Knittel says she asks candidates: "Would you be relieved or disappointed if you turned down the offer to relocate?" If a candidate answers "relieved," she says it's likely not worth making a move.