Temp storage, setting up new utilities, taxes on the lump sum.
When I got relo before the lump sum was based on the per diem costs of the city where I was relocating, not necessarily what I spent. This actually worked out like a signing bonus cause I didn’t use all the money for my expenses.
Cost of food during move and temporary housing (my H's company gave a daily dollar amount for him, for me, and even for our infant daughter) and cost to transport pets and board them while you're in temporary housing if needed (not an expense covered by my H's company)
Post by orangeblossom on Dec 17, 2014 18:30:50 GMT -5
Our latest relocation package included the following:
45 days of housing (we asked for and got a 15 day extension to 60) 7K to do what we wanted (car registrations, deposits, etc). No receipts needed ~20K closing costs (though we've yet to sell our house, and will likely lose that benefit ) 7K moving costs
I think that's it. We didn't need to scout anything out or have our car shipped, but I believe if we did, there would be funds available for that.
3 months furnished temp housing Moving with packing and partial unpacking Storage for our stuff while in temp housing $9k for house hunting trips and miscellaneous expenses Closing costs on our new house Realtor fees and the loss on sale of our old house Payment of our property taxes and interest while our house was on the market Lawn service while our house was on the market
Post by FishChicks on Dec 17, 2014 19:34:14 GMT -5
As others have noted, temporary housing is typical and I'd expect compensation to include it, for at least a month. Also, for me, the "actual cost of moving" was increased beyond what my package covered because I needed to crate some furniture (around $500 per item crated) and because I had a wine collection that had to be moved (estimates of $4k from insured shippers) and wasn't covered under the standard moving costs.
The big, unexpected item is taxes. I paid more than $20k in taxes on the lump sum that went along with my relo package. If I had been counting on that $20k, I'd have been seriously unhappy. I was able to negotiate the lump sum I wanted after taxes, and my employer figured out the necessary starting value so I'd net what I wanted. I couldn't get the payout until after I'd started the job, though.
Those are all great suggestions! We are relocating out of state next month and we are only getting $7500 total to cover all expenses (negotiated up from $6,000) and 6 months of housing (which is too low and will only cover part a portion of the rental expenses unfortunately since it is taxed). We'll probably have to spend an additional $5000 out of pocket for the move alone. We've also spent $1000 fixing up little things on our house before we put it on the market and we'll have some continued expenses to maintain our house while we are out of state (cleaning services, lawn mowing if not sold by the spring, carpet cleaning, utilities for house, etc...)and increased homeowners insurance for vacant home.