Consider Your Relocation Assistance Options



There are numerous reasons for relocating to a new city. It could be a career opportunity, a significant life change, or simply the need for a new beginning. However, new job opportunities are the most common factor behind relocation moves, which can be professionally exciting and personally nerve-wracking all at once.


Whatever the reason for the change, relocating will factor in some big decisions, including one of the most significant – where will you live? Most cities contain subtle nuances that aren’t apparent through virtual research and require some insider’s insight to discover.


This article considers common factors involved with relocating for work and tips for managing them to manifest the most stress-free relocating experience possible. Hopefully, your employer has an established system for managing employee relocation, including a budget for associated moving costs. If so, consider these tips before you begin the process – especially if home buying is a part of the journey.

Locate a Reliable Lender

The best-case scenario is plenty of time to plan the transition ahead if you are relocating for a current or new employer – especially when you have to buy a new home. A local mortgage specialist can help you determine how much home you can afford in your destination city. Finding one should top the list if your employer does not have recommendations for a home lender.


Understanding your budget and corresponding options before you begin looking for a new home will help narrow your search and save you valuable time. When searching for a lender, choosing an organization that emphasizes mortgage education alongside lending is wise. For example, many mortgage companies have lenders who thoroughly understand the unique circumstances of the relocation process to help you navigate the waters with confidence. 


Get the Lay of the Land

Once you have your lender situated, it’s time to begin research on your new location. The area you choose will primarily rely on your individual and familial needs. Factors to consider are commute times, area schools if you have children, access to grocery and other retail shopping, access to dining and entertainment, and doctor and hospital access.


We recommend tapping local resources for insider information about neighborhoods in the target city. This could be friends or family that already live in the area, a realtor, or even the local chamber of commerce. There is essential information and insight to uncover that a google search simply won’t provide, and these resources can help.


You should investigate the social, logistical, and economic nuances of the area. What communities have hidden threats – like displaced wildlife? Are there critical weather-related home considerations? Take the Pacific Northwest, where extensive rainy seasons and cold winters increase the appeal and convenience of attached garages. Insider insight can strengthen your real estate and mortgage education about the area before investing in it, which is a considerable sum when buying a home.

Track Your Expenses – Reimbursable or Not

Did you know that you can write off certain relocation expenses on your taxes if you are relocating for employment purposes? Also, if your employer reimburses you for the move, some of that money may be tax-free income*. It’s essential to meet with the department that oversees relocation details for your employer, so you can ask questions and understand their financial involvement in the process. It will help you stay financially organized and on budget throughout the process.


Whether or not your company provides a relocation budget for your moving expenses, it’s critical to track every penny for reimbursement and tax opportunities. You will want to create a list or spreadsheet and include all costs, like moving companies, travel to the new location for scouting homes, and lodging associated with relocation-related travel. Keep receipts to stay as organized as possible when tax season rolls around.


Relocation Assistance Within Reach

If you are relocating to the Western region of the U.S., Directors Mortgage can help facilitate a smooth transition, beginning with reliable local mortgage assistance. We have dedicated local, experienced mortgage experts that focus on special situations like yours so that you can focus on the next chapter of your career. We’ll work on your timeline, taking care of all the details to ensure a smooth transition from your old home to the new. 


The relocation process can be daunting. However, we believe finding the perfect home in your new city can ease the transition. Directors Mortgage is more than a lending company – we’re a community of local lenders with local values operating out of branch locations in Oregon, Idaho, Washington, Arizona, California, Colorado, and Utah. We are always mortgage educators first and lenders second, so you understand the process from start to finish. Contact us for help with your relocation today.


*Please consult our own tax, legal and/or accounting advisors to determine if you may be eligible for these possible tax benefits.