Have you ever wanted to escape your day-to-day life and restart in a sunnier climate? Maybe the Algarve or Estoril? If you have, then you aren’t alone. This has actually become a dream for many Americans in recent years, with The Independent reporting that the number of people thinking about living abroad has jumped by 1,500% after Trump’s election win.
But this can be a massive change. In fact, you are uprooting your life and moving it to another location. This will require a lot of work to ensure it is a successful transition, so you must research every aspect. Thankfully, this post outlines three of the main factors to look into that will assist you in your potential move.
Know Your Budget
One of the most significant considerations when moving abroad is the cost. After all, you are not only going to have the living costs of an entirely new country and lifestyle, but you will also have to pay for relocation. This will include the initial expenses, including accommodations, flights, shipping belongings, and visa fees.
The bulk of the costs will be ongoing, but this will be similar to life in your home country. Cost of living might be less expensive in your destination when compared to the US; this is often a meaningful factor for people moving abroad, particularly retirees. The cost of living will include the cost of rent or mortgages, utilities, groceries, transportation, and more. If you have children, then you will also need to consider the cost of childcare, extracurricular activities, and so on.
It is also worthwhile to plan for emergencies, and this could require additional funds. This will require researching currency fluctuations, potential medical bills, and so on. You could avoid some of these costs by paying for insurance, including health insurance, which will prevent you from paying out of pocket for healthcare. To gather more information on medical insurance coverage abroad, check out overseas insurance.
Other aspects will affect your budget, but you can calculate your budget by using this cost of living information and estimating your income. Your income could be your current salary if you are retaining the same job, or a potential salary if you are searching for a new job.
Discover Your Options
With a better idea of your overall budget, you will be able to determine affordable countries to live in. This could be considered the fun part of moving abroad – you get to select the area to live, explore, and potentially raise a family. You are encouraged to start with a broad selection and then narrow your search down based on particular aspects, such as climate, cost of living (as previously discussed), distance, and lifestyle.
These factors should be researched thoroughly to ensure you make the right choice. You should think about what matters most to me in line with each factor. For climate, consider if you would prefer to have year-round sunshine or experience the seasons as they change. The distance from your home country should also be thought about, especially if you want to visit friends and family regularly. Then, when it comes to your new lifestyle, do you want calm countryside or bustling cities?
Once you have narrowed down your options to a couple of locations using expatriate forums and travel blogs, it is best to visit them. If you are moving with your family, then they should come with you on this journey. This will give you firsthand experience of life in the countries, and you should aim to stay for a week or more before heading home or to the next possible area. You will gain an insight into each place to see if they align with your ideals.
Plan Your Escape
After confirming your destination, you can then begin planning your escape. It is this plan that will turn into action, so you must be thorough and leave nothing to chance. The first step of planning your move will be to set a date. This date must allow you enough breathing room to sort out all aspects of the move without being rushed. You will need to get all of your ducks in a row, so to speak, including finances, medical records, and visa requirements.
Next, you will need to notify everyone who needs to know. This will include employers, family members, friends, general practitioners (GPs), and so on. For the more personal relationships, you can expect long conversations after sharing the news, and not all individuals will be pleased to hear you are leaving. It is also wise to let different institutions, like the IRS and Social Security Administration, know to ensure a smooth transition and avoid potential problems from occurring. Schools should be informed, too, if you have kids.
You will then need to book your flights and accommodations. The costs of this should already be worked into your overall budget, but it is best to begin with short-term alternatives like an Airbnb first. This type of housing will allow you a level of flexibility that might not be possible by buying or renting a property from the get-go.
To conclude, there are a lot of different wheels turning when you decide to move abroad. It takes a lot of planning to make this dream a reality, but you can do it with the right preparations. This post outlines three of the key aspects to organize before you jet off.
