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10 Overrated Life Decisions

        Money | Work Life

4
Relocating for a New Job
It might be flattering to be considered for a job in another location but make sure it will work out for you long-term. sturti/E+/Thinkstock
It might be flattering to be considered for a job in another location but make sure it will work out for you long-term. sturti/E+/Thinkstock

Relocating for a new job is exciting — a fresh start in a new city, often with a better salary. But you need to ask yourself some serious questions before skipping town for greener pastures. First of all, if you own a home, will you be able to sell it? Or will a weak housing market mean taking a big loss on what you originally paid? If you lose tens of thousands of dollars by selling now, make sure your salary hike in the new job will cover it [source: Levin-Epstein].

You also need to gauge the new company's commitment to you [source: Smith]. Are they covering moving expenses? Is there a clear path for promotion and growth within the company? And how strong is the company itself? Does it have the business model and track record to ensure long-term success? It would be a huge waste of time, energy and money to relocate only to watch the business fold in a year.

Other important considerations: your spouse's job prospects, your kids' new schools and how well you fit into the culture of the new city.


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