Canadajobs.com: Articles: Relocation: Counting Costs - What To Consider When Relocating

Counting Costs - What To Consider When Relocating
By Canadajobs.com Staff

Moving is an expensive undertaking. Once you've factored in the actual costs of moving, you've got to consider the real cost to you at your new location. To find out if your relocation plans are feasible, consider these factors.

Your Salary:

Comparing your costs to the salary or wage you will be receiving is the best way to decide whether a move is financially feasible. Remember that even if you might make more, it will likely take a few months to pay back a move. If you will be making just enough to make ends meet, it might not be the right move right now. You might have to find a job that pays a higher wage if the costs in your new town are higher than you're used to. Remember to consider your spouse's wages or ability to get a job as well.

Housing Costs:

Are the real estate and rental prices in your new neighbourhood considerably higher than you are paying now? Housing costs vary from city to city, so make sure you check these out before considering a move. Looking online is one of the best ways to research this.

Insurance:

Often, your rates will change when you move. Find out from your car insurer and home insurer if your premiums will change, since things like theft and break-in rates and accident rates vary from area to area. These are used to factor the cost of insurance and can differ greatly.

Costs of Services:

Services like high-speed or dial-up internet, cellular plans, telephone service, cable service all vary in cost from province to province, and often city to city. It's important to have a look at what the rates will be in your new area, as well as the availability of services you now enjoy. Incidentals like this might not seem much, a few dollars here and there, but if you use a dozen services, your bill might be considerably larger each month.

Cost of Food:

It's amazing how food prices vary from city to city. Get a good idea of the cost of groceries by looking at an online flyer for a supermarket in your new area. If you have friends or relatives in your new area, you might want to ask them for an idea of average prices. The cost of food can greatly impact your cost of living.

Gas Prices:

Remember to factor in the cost of gas if you have a vehicle. As this varies greatly by area, it might influence the wages you will need in order to make your move viable. Looking online is a great way to see what your costs might be.

Public Transit:

The cost of public transit should be factored into your expenses if you plan on using the bus or train in your new area. Remember that monthly passes can save you money but they require an expense upfront at the beginning of each month.

Evaluating your costs means taking a look at the big picture. By considering things like your salary, housing costs, insurance and fuel prices, you can get a better idea of what it will cost you to live in your new area, and whether it is a move currently worth making.

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