Moving abroad is perhaps the closest you’ll ever come to truly turning over a new leaf and starting again. It’s a chance to reinvent yourself, to build a new life, and to experience a lifestyle and culture from another part of the world. Regardless of the potential benefits of moving abroad, it is undeniably a huge life decision and is one that shouldn’t be taken lightly. If you’re considering the shift, then here are 3 things that you should consider before you go.
How much will it cost and can you cover it?
This may seem like an obvious consideration, but it’s one of the most important. Hence, it sits at the top of our list. Moving abroad can be more costly than many people think, especially if you’re planning on bringing your belongings with you. Purchasing visas and moving long-distance overseas are also particularly expensive. Worse, bills and debts at your home country may continue to rack up while you’re in the process of moving.
Make sure you budget sufficiently for your move. Setting a good buffer is highly advisable. Try to read plenty of real-life stories from people in similar positions to get an idea of the true cost of moving. Come up with a research-based figure then add a minimum of 10% buffer.
To rent or to buy?
Another major consideration when moving abroad is whether to rent or to buy your own house when you get there. Renting is a popular option as it allows you to get a feel for a new location. This leaves you open to moving elsewhere if you don’t like the neighbourhood. The downside of renting is that it often means paying more for less. Conversely, buying, especially in a new build site such as Wyndham Ridge Estate lets you put down roots and gain access to a pristine home of your own. The investment also lets you get more bang for your buck in the long run.
Your income options
Depending on where you are moving from and to, you may find that one of the biggest hurdles you need to overcome is gaining a right to work visa. If you are moving to a country for a short amount of time, then certain tourist visas do allow you to work. But if you are moving permanently, you will need to acquire a full working visa which can be a lengthy process. In general, countries are more willing to hand out visas to skilled workers. So if you plan to move abroad in the future, start looking at what jobs tend to have higher acceptance rates and train in that field early on. Ideally, you’d have a work visa lined up before you make any move commitments. But if you don’t then you need to make sure that you have some legal income options to last you until your visa application is complete.