Moving abroad isn’t for everyone. For homebodies, nothing sounds worse than upping sticks and changing everything. Yet, some of us are born with wandering minds and a desire to keep things fresh. And, if you fall into that category,
the chances are that you’ve considered moving overseas at some stage. If you have wanderlust in your bones, moving abroad could change your life. It’d undoubtedly please your exploration cravings more than a short-stay vacation.
That said, plenty of travelers have failed when moving to their favorite destinations. Living in a place is a lot different from visiting there. Culture shock aside, many people just don’t prepare for the financial strain they’ll experience.
Of course, that should come as no surprise. Moving costs in your home country are steep enough, let alone when crossing oceans. Still, it isn’t unusual for budgets to run dry much sooner than people expect. And, when that happens, a life-changing move can soon turn into a major mistake.
That’s not to say the same will happen to you. Still, it’s worth considering your finances before you make this dream a reality. In an ideal world, you need enough to cope with your move and any unexpected financial events which happen along the way. And, to make sure you do, it’s worth considering the following pointers.
Research house prices
Researching house prices is a good idea when moving house anywhere. It’s the best way to know how large a down payment you’ll need. It’s also the best way to judge whether your finances can stretch. The only difference with moving abroad is that you’ll be starting with a clean slate. For the most part, we have pretty decent understandings of how much property costs in our home countries.
Rising and dropping prices appear on the news, and people we know may move and give us some idea of the market. Yet, when moving overseas, you’ll have no idea how much you can expect to pay for a property. As if that weren’t enough, you’ll also have a sketchy grasp on currency. Add that together, and you could be in for a nightmare. At least, you will be if you don’t do your research.
First, you need to get a good idea of the conversion rate. Lucky for you, sites like Google have easy cash converters which can show you how currencies compare. Once you’re on top with that, head to sites like https://www.rumah.com/rumah-dijual/di-area-jakarta-barat-idjk01/dibawah-400juta-rupiah and get stuck in with house prices. A few months of checking sites like these should give you a pretty decent idea of what you can expect to pay. And, that can then prepare you for upfront costs before you commit to a move you have no chance of affording.
Save on your relocation
Once you do commit to a property, the chances are that you’ll be operating on floundering finances. Property acquisition is always a bit of a squeeze, after all. The last thing you want, then, are substantial moving costs. Yet, if you aren’t careful, that’s precisely what you’ll get. Paying to move big furniture and cars etc. can get more expensive than you would expect.
Prices here can be so extreme that you may want to consider getting around them altogether. A fantastic way to do that would be to reduce the amount you take with you. By limiting your belongings, it’s possible you’ll be able to fit everything on your flight with you. As such, it’s worth selling large furniture pieces and the like before you head off.
That will provide you with the funds to repurchase once you reach your destination. And, it’ll ensure you don’t have to fork out a fortune for overseas movers. We know this isn’t ideal, but your bank balance is sure to thank you for your efforts.
Seek work before moving
Perhaps the most pressing financial worry is the uncertainty about work. If you move with no job in mind, it’s impossible to predict when cash will start coming in. And, your finances stand no chance of surviving if you have an indeterminate time frame.
There’s no telling whether you’ll be out of work for one month or six. Save yourself that uncertainty by seeking employment before your move. This isn’t always easy. You aren’t available for interviews, after all, and you can’t start straight away. All of which will go against you in the eyes of an employer.
Add to that the fact you may not be able to speak the language, and you could argue this is a dead-end. But, by using tips like those found at www.thespruce.com, you can make your life much easier. Taking a transfer on your current job could secure you a position in a career you already know. And, that ensures you’ll have a definite start date which suits your needs.
If you really can’t find work before your move, you could even turn to self-made sidelines which keep cash coming in. Something as simple as starting a blog could earn you enough money to supplement your income until you’re settled. And, that’ll take a great deal of pressure from your shoulders.
Better start budgeting
The chances are that you have at least some savings behind you, or else a move like this would never be an option. So, if you have some time to wait before you start earning, it’s essential you learn how to budget your funds. In truth, this is much easier to manage if you know what timeline you’re working with, but pointers like those found at lifehacker.com can help you develop budgeting skills, even in uncertain times.
The fact is, you may have to go without for a while. That might mean cutting down on the food you buy, or not restocking furniture until you’re earning again. Either way, you need to know that you’re doing everything you can to make that money last as long as it can. Only then can you make your finances stretch far enough for this to work.
