5 Financial Factors To Consider When Moving To A New State

In the last few years, I’ve noticed more people moving to different states than ever before. Their reasons vary, from cost of living, to taxes, to job opportunities, to retirement, to just needing a change of scenery. No matter what the reason for the move, there can be some serious financial implications. This is a discussion of upfront costs, tax considerations, risks to plan for, treatment of investments and property, and estate planning considerations.

Budgeting For The Move

Moving is expensive. All in, costs for a move to a new state can average between $950 and $17,000. If you are moving because of a job change, there’s a chance that your employer will supplement some of these costs. However, for a particularly big move, you may still end up taking on some of these expenses yourself.