Job change decision

[Reel]

I was offered a new job that I think I would enjoy significantly more than my current job. In addition, there are a lot of financial positives that place it above my current job.

However, the biggest (and perhaps only) hurdle is that I purchased a condo when I started work here and I stand to lose the broker fees of about $10000 due to a lack of appreciation in the market. Timing would prevent me from trying to sell it myself or through a discount broker since I couldn't show it for more than a week or two before moving. Renting it out is not an option. My only real choice is to sell it through a broker as quickly as possible.

What would you do? Is your happiness worth an upfront hit of $10000?

Bonus Question: Anyone know if that is something you can deduct in taxes at the end of the year?

 

[SagaLore]

How much more is the salary of this potential new job?

Where is the job located?

 

[Reel]

Originally posted by: SagaLore
How much more is the salary of this potential new job?

Where is the job located?

$10000 annually pretax, Melbourne (melboring?), FL

 

[DaveSimmons]

> Is your happiness worth an upfront hit of $10000?

To me, yes. I'd rather do work that I enjoy than have an extra $10,000 in my brokerage account.

> In addition, there are a lot of financial positives that place it above my current job.

And it sounds like you'll get back the money eventually anyway.

 

[HeroOfPellinor]

Time to call HGTV's Designed To Sell.

And, no, losses aren't deductible.

 

[SagaLore]

Originally posted by: Reel

Originally posted by: SagaLore
How much more is the salary of this potential new job?

Where is the job located?

$10000 annually pretax, Melbourne (melboring?), FL

If you're taking a $10k hit for an additional $7k, you're going to be really hurting once you see the cost of living in FL:

http://www.bestplaces.net/col/?salary=60000&city1=0520&city2=4900

I say wait it out until you can at least break even on your condo. Or, get them to bump up the offer another $3k, AND give you $1k relocation reimbursement.

 

[Reel]

Originally posted by: SagaLore

Originally posted by: Reel

Originally posted by: SagaLore
How much more is the salary of this potential new job?

Where is the job located?

$10000 annually pretax, Melbourne (melboring?), FL

If you're taking a $10k hit for an additional $7k, you're going to be really hurting once you see the cost of living in FL:

http://www.bestplaces.net/col/?salary=60000&city1=0520&city2=4900

I say wait it out until you can at least break even on your condo. Or, get them to bump up the offer another $3k, AND give you $1k relocation reimbursement.

I have seen numbers varying widely on those cost of living calculators between the two cities. I am not really sure which one to trust. I have seen them even differing on which city has a higher cost of living.

I am losing the Georgia state income tax which is about 8% of my salary so that factors in the increase in salary as well. In addition, they offered about $3000 for signing and relocation as far as actual moving expenses but not assistance in selling the condo (and won't negotiate on that).

 

[SagaLore]

Originally posted by: Reel
I am losing the Georgia state income tax which is about 8% of my salary so that factors in the increase in salary as well. In addition, they offered about $3000 for signing and relocation as far as actual moving expenses but not assistance in selling the condo (and won't negotiate on that).

So you're about breaking even. I say visit FL for a few days and get a feel for it. If you think you'll enjoy it more there, then go. Make sure that this new company has good pay raises and room for advancement, because the network security market is very poor there (because all the big businesses moved away due to Disaster Recovery concerns).

 

[Squisher]

I too am giving up $30K in salary for something I will enjoy more. Happiness is priceless.

 

[GeekDrew]

Yeah... I'd probably sit and think about it for quite some time... but over all, happiness prevails. If you would enjoy your new job more than your current one, go for it. If your salary is similar, well that's even better.

 

[Argo]

A lot of companies would cover the closing fees for you, if relocation is required. Ping the company that made you the offer to see if they'll do that.

 

[Reel]

Originally posted by: Argo
A lot of companies would cover the closing fees for you, if relocation is required. Ping the company that made you the offer to see if they'll do that.

I did discuss it with them and the recruiter said it is not something they will consider for my level. It is something they will discuss at a higher staff level than I am entering at. They will cover all other moving costs but won't touch the purchase or sale of a home.

 

[Lord Evermore]

If you can afford the hit and can't delay, take it. A $10,000 loss in exchange for long-term happiness and long-term greater financial income is a good trade, if it doesn't mean you end up struggling for that entire first year before you've earned it back with the new job (since then you'd end up hating life anyway).

With my current job, I'm not doing the work that I love, which is what I did at the last job, and it means driving my own car to work and paying for gas, but it was such a big jump in pay that it was worth it for me. Kind of the reverse of your situation. If the pay difference had been much less, I probably wouldn't have taken it because I enjoyed the old job a lot more.

 

[SagaLore]

OP hasn't really told us why he would be happier in FL than in GA.