Relocation Financial Assistance – Being assigned to handle things in a new place will require a lot of effort, including getting familiar with the new environment, building a new network, getting the real job done, and of course, the relocation. Relocation is a big decision that requires a lot of consideration and thinking, and the most troublesome part of it may be finding the money or financial assistance for relocation. In this post, you will learn about your options, including if there is a possibility to get some kind of financial relocation assistance option.
If you already have a current house, then things may be a bit harder. Most families cannot afford to pay for two mortgages at the same time, so the solution is usually to sell the house and purchase a new one in a new place. Moreover, you also need to consider what to do with your partner’s job (if he or she has one) and also transfer the children.
Relocation Financial Assistance from Government
Many people are expecting to find some kind of program from the government that can help them with the relocation cost. The government has two sites with complete database of assistance, available at the Catalog of Federal Domestic Assistance (CFDA) site and also the Grants.gov. Typically every grant opportunities available from the government are listed there. However, to our knowledge there’s no such thing as relocation grants.
That said, there’s still a chance that you get some benefit from your relocation. Eligible families may be subject of tax reduction. Please refer the IRS page we provide in the reference section for more information. There’s actually a possible way of getting assistance would be if you have to move due to disaster, just contact your state’s government and they will provide the contact you need.
Getting the Money
Now that you know there’s little or no help from the government, let’s learn about your options.
- Employer
The most possible source of financial assistance would be from your employer or future employer. Depending on how crucial your position in the company, your employer may be willing to provider relocation package, varying from $1,000 to $10,000. Don’t be afraid to negotiate even if the employer doesn’t usually give out relocation assistance.
However, you should do your homework first. It is important to have a clear data of moving costs such as transportation costs, truck rentals, temporary housing, storage, security deposits, etc. After that you can go to your employer and negotiate.
- On your own
There are still things you can do on your own to cover the cost of relocation. The first thing would be selling off excess possessions. For example, you can sell off that used furniture to reduce the number of things to be transported. There are also many other little things you can sell. Just use auction sites like craigslist, eBay or you can also place an ad in the newspaper. You can also throw a yard sale to get extra cash and reduce the number of things that don’t fit in your new house.
I hope this post can help you with good information on the relocation financial assistance.
References:
- Grants.gov – http://www.grants.gov
- Internal Revenue Service – Moving Expenses – https://www.irs.gov/taxtopics/tc455.html
- Image: career-intelligence.com
