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MOVING COSTS

MOVING COSTS

Old Sep 16th 2009, 11:46 am
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Default MOVING COSTS

Hi, my husbands company have been mentioning a possible move to NY for a year to 18 months but have just been working out a package. The package is too expensive for them (it comes to approx £500,000 including salary and basically all costs for the year, rent etc). They have asked us to come up with the amount we need to move. This is totally new to me. We need to include, fares, storage and shipping, costs for replacement items, rent, visa costs, medical/dental care, car hire for the year, flights home for the family for a holiday. Is there anything else we need to think about? Thank you in advance.
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Old Sep 16th 2009, 11:54 am
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Default Re: MOVING COSTS

Originally Posted by alicehh View Post
We need to include, fares, storage and shipping, costs for replacement items, rent, visa costs, medical/dental care, car hire for the year, flights home for the family for a holiday. Is there anything else we need to think about? Thank you in advance.
I believe his company will already cover the visa costs and medical/dental care, so you don't need to include those costs in your calculations. And it will probably be cheaper to buy a car instead of renting one for an entire year. You can include maybe a month's car rental until you can buy one of your own. I also don't think rent is a moving expense, except for a limited time in a hotel until you can find a place of your own.

I've never moved internationally, though, so just my ideas...I'm sure someone will come along who knows more about international moving.

Best Wishes,
Rene
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Old Sep 16th 2009, 12:04 pm
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Default Re: MOVING COSTS

Originally Posted by alicehh View Post
Hi, my husbands company have been mentioning a possible move to NY for a year to 18 months but have just been working out a package. The package is too expensive for them (it comes to approx £500,000 including salary and basically all costs for the year, rent etc). They have asked us to come up with the amount we need to move. This is totally new to me. We need to include, fares, storage and shipping, costs for replacement items, rent, visa costs, medical/dental care, car hire for the year, flights home for the family for a holiday. Is there anything else we need to think about? Thank you in advance.
Where would you be living? (NY sometimes implies NYC, but NY is a big state so wanted to check. A car would be a liability in NYC).

Medical is almost always included in the employer package in the U.S. - usually with most of the cost being borne by the employer but often with a monthly contribution from the employee. Varies wildly - so best to check.

How much stuff are you thinking of shipping? Some on here who moved more recently than I will be able to recommend some companies for quotes.

Moving costs almost always come to more than people think - how badly to you want to make the move?
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Old Sep 16th 2009, 12:11 pm
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Default Re: MOVING COSTS

First, on the move of goods and the like, figure out how much stuff you actually plan to bring over (and note, you will have to take it back too so make sure that cost is included with the company as well). You'll probably come up with a figure of 1-3 bedrooms worth of stuff, or maybe 5 to 7 rooms if you are bringing over the couch and chairs and dining room set, etc. When you talk to some moving companies to get some quotes tell them how many rooms you have / what size container it would take (20 foot, 40 foot, etc). They'll also charge for packing and for delivery on the other end. Get some quotes from some shippers (search this forum for some names) and you'll have some hard numbers to throw to the company.

As for other things, the list can be big if you want it to be.

Moving expenses: note either they pay the shipper directly or give you cash and you shop around.

Moving replacement: Some folks who get the cash get a little extra for stupid mickey mouse stuff they have to buy like electric tin openers or hair dryers because small electric appliances from the UK don't work over here.

First month rent: Will they put you up in a corporate apartment a) until your stuff arrives and b) until you find a place to live?

Car rental. Renting a car for a month or two until you can sort out your transportation needs (note: in the US, you need a car, possibly even two).

Education fees: Will they pay to send your kid to a private school or do they have to go to the nearby government one?

Flights home: a) when you are all done with the assignment, b) for a holiday if possible, c) for a family emergency (sick granny). Ask for what they are willing to pay.

Health Insurance: Don't take their word 'we'll cover that'. Make sure there are not giving you a policy with a high premium (amount you have to pay monthly) or a high deductible (amount you pay annually before insurance starts) or high copays (amount you have to pay each doctor visit or prescription purchase).

Visa fees. Goes without saying

Take a look at the wiki. Some of the things you have to think about now are in there: http://britishexpats.com/wiki/Category:USA_Lifestyle
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Old Sep 16th 2009, 12:12 pm
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Default Re: MOVING COSTS

Hi, we would actually be in Stamford which I think is juts in CT. They want the costs for the whole year so rent etc would be included in the costings. We do want to move very much but we want to make sure we are not out of pocket so want to include ALL costs in our quote. I would love the details of the companies you used. Thanks
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Old Sep 16th 2009, 12:55 pm
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Default Re: MOVING COSTS

if they are going to pay your rent for the whole year then they are the most generous company ive heard of? Most people just get some cash to cover the first month in a hotel or company rental til they can find their own place to rent.

what place do you have back home? ie - will you let it out and recoup some costs (which makes the company paying rent above even more weird) - or do you rent now - in which case im guesing you would let it go and re rent on your return?

If its just for a year is there any point in schlepping a whole container load of furniture across the ocean - bearing in mind it could take 6-8 weeks BOTH ways! can rent furniture or rent a furnished place etc. Might be better to store the UK furniture.
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Old Sep 16th 2009, 12:57 pm
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Default Re: MOVING COSTS

If they are saying they will re-imburse you for 'everything' remember to include car/property insurance. Bear in mind that their medical cover may have a deductable and co-payments that you will have to meet before insurance kicks in. Utility bills, Replacement electrical goods that you can't take with you, Costs involved in applying for drivers licences. Just a few off the top of my head !
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Old Sep 16th 2009, 1:52 pm
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Default Re: MOVING COSTS

Originally Posted by MsElui View Post
if they are going to pay your rent for the whole year then they are the most generous company ive heard of? Most people just get some cash to cover the first month in a hotel or company rental til they can find their own place to rent.

what place do you have back home? ie - will you let it out and recoup some costs (which makes the company paying rent above even more weird) - or do you rent now - in which case im guesing you would let it go and re rent on your return?

If its just for a year is there any point in schlepping a whole container load of furniture across the ocean - bearing in mind it could take 6-8 weeks BOTH ways! can rent furniture or rent a furnished place etc. Might be better to store the UK furniture.
My husband's worked overseas and the company organised and paid for an apartment...although that was some time ago.

To the OP...is it a small company...are they familiar with staff moving overseas? Because I find some of their requests a little strange...like asking you for the cost of a visa and medical insurance.

Have you been to Stamford? I certainly wouldn't consider moving until I'd done a reccie. The company paid for us to come over for several weeks to find accommodation etc. If you rent a house furnished you will only need to bring over personal items.

You said it could be for 18 mths...so maybe a 2 year car lease would be best if the company are paying. You will almost certainly need 2 cars unless one of you is working in NYC. I take it you would keep your home in the UK...therefore you wouldn't need storage.
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Old Sep 16th 2009, 7:32 pm
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Default Re: MOVING COSTS

Originally Posted by alicehh View Post
Hi, we would actually be in Stamford which I think is juts in CT. They want the costs for the whole year so rent etc would be included in the costings. We do want to move very much but we want to make sure we are not out of pocket so want to include ALL costs in our quote. I would love the details of the companies you used. Thanks
Hi

Also take into consideration what you will pay on tax - alot of your relocation package could be taxable (we are just getting ready to move in 4 weeks) so see if you can your benefits protected (so you dont pay the tax). Also ensure you ask for a tax consultant for at least a year but try for 2 (parituclarly if you are moving half way through a tax year). Our removals for a 20ft sea container and a 8 ft azir container are about $18500 - but we only know that as we did see the costs although we are not paying for these, the company are paying directly. Check the insurance and storage cover aswell on both the sea and air freight.
Good luck with it all - starts off as a nightmare but ends up being the best thing (in my opinion)

Best wishes
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Old Sep 17th 2009, 5:12 pm
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Default Re: MOVING COSTS

Are the employers mental?

All that cost and hassle for a visa just for a 12-18 month stint?

What visa are they sorting out? H1 wouldn't allow spouse to work, company transfer, the L1 would, so that might make a difference.

Shipping stuff, depending on where to where and how much rubbish you bring, £5-20K

Rent, for a decent sized apartment/small house $1500+ but remember you'll probably have to pay first/last plus 1-3 months worth in deposit.

Utilities, Electric $80-150 a month, Oil $60-450 a month - both depend on the season, Cable/Phone/Internet $100-150 a month...with out credit history budget for $1000 deposit on each utility and it's a bonus if it is less.

Car rental, $30 a day...but buy a car after a few weeks. You'll pay tax on a second hand car, expect around $200 on inspection, plating, registering and titling a car, maybe a little more or less.

Car insurance anything from $600-3000 for six months depending on coverage, location and car.

How far is the commute? Parking can be anything up to $35 a day if you drove, which would be mental, so check on commuter rail rates, I've no idea down that way.

Figure out tax accountant as it's a hassle moving in the middle of a tax year, twice.
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Old Sep 17th 2009, 5:39 pm
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Default Re: MOVING COSTS

Originally Posted by alicehh View Post
Hi, my husbands company have been mentioning a possible move to NY for a year to 18 months but have just been working out a package. The package is too expensive for them (it comes to approx £500,000 including salary and basically all costs for the year, rent etc). They have asked us to come up with the amount we need to move. This is totally new to me. We need to include, fares, storage and shipping, costs for replacement items, rent, visa costs, medical/dental care, car hire for the year, flights home for the family for a holiday. Is there anything else we need to think about? Thank you in advance.
Not exactly the same, but you may find this recent thread has some helpful information:

http://britishexpats.com/forum/showt...ght=relocation
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Old Sep 19th 2009, 9:26 pm
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Default Re: MOVING COSTS

If this is an expat move the costs can be astronomical. Is it a short term or long term move?
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