Costs to Consider while Relocating Internationally
Have you ever dreamed of living abroad? Maybe you want to learn a new language, experience a different culture, or join the global workforce. No matter your reasons, relocating abroad can be an exciting—and costly—endeavour. Before you start packing your bags and boarding your flight, make sure you’ve taken into account all the costs associated with moving abroad for good.
There are several factors and expenses that come with relocating abroad, from visas and paperwork to shipping your belongings and housing costs. Knowing these costs can help you plan for a smoother, stress-free move. So, Let’s explore the costs associated with relocating abroad.
Moving Costs
First, we will talk about the costs accrued for the entire move. This may be to do with your travelling or shipping costs, parcel charges or the cost of hiring an international moving company.
International Relocation Company
Hiring an international relocation company is a must for moving abroad unless you want to give yourself the challenge of a lifetime. I suggest you don’t, or you can go online and see the horror stories yourself.
If you do hire one, it can cost you quite a bit. Quite a fair bargain in return for peace of mind. The exact cost depends on various factors like the place of the move and the quality of services.
Custom Duties and Taxes
In most cases, you will have to pay duties and taxes on the goods you are bringing into the country while clearing customs. Many international moving companies take care of this and add the figure to your bill. If you are moving on your own, you might have to figure this one out by yourself, which will take away precious time and energy.
Car Shipping Costs
If you are planning to ship the car abroad, you will incur additional costs on that as well. There will be costs of shipping it, registering it again, paying its customs and other fees. The best and cheapest bet for this would be to take a consolidation service, which ships your car along with other vehicles going to the same destination. Although it takes longer, it is much cheaper.
Move-in Costs
You will also need to spend on accommodation like a rental deposit, a hire car if necessary, utilities etc., immediately after moving in.
Parcel Shipping
This is valid if you only have a few goods to ship and are not planning on using a relocation service for them. You can use a logistic service or a parcel shipping company to do the job for you rather than spend on a full-fledged relocation service.
Storage Costs
If you plan on storing your goods until you get there, it will cost you extra as well. You might want to check out if your moving company has some sort of package offering that takes care of both relocation and storage. This will be the most economical method to shift.
Moving Insurance
If you are worried about the safety of your goods and want to apply for comprehensive insurance, you will need to shell out a few bucks for that. It can cost you anywhere between 3% to 10% of the total value of goods based on the moving company.
Personal Costs
Apart from moving costs, you will also need to spend on travelling, visa and in general setting up your life there. All of these are personal expenses that will cost you dearly regardless of whether you hire a mover for the job or not.
Visa and Legal Costs
You will need a visa when you are moving abroad, and getting a visa will always cost you quite a bit. The exact cost will depend on the country of destination and immigration policies. It will also depend on the type of visa that you are applying for. Tourist visas generally cost less than work permits.
Travel Expenses
You will need money to travel abroad. You need to factor in flight tickets, food, cab charges and other incidentals. The cost again depends on the country, your standard of living, choice of food, stay etc.
Clothes and Accessories
Clothes and accessories will cost you only if you move to places with extreme climatic conditions compared to your current locality. If you are moving to Canada or Sweden from tropical climates like India, you will need to spend a fair bit of money on warmer clothes and accessories.
Mobile Tariffs
ISD tariffs are devilishly expensive, and yet they are a necessity that we can’t go without. Of course, you now have the option to communicate solely through the internet by Whatsapp and other apps. But you will need to recharge once at some point, and it will cost an arm.
Health Care
Healthcare costs vary a lot based on a country’s health policy. If you are moving to countries with free healthcare, then you need to spend on the bare necessities or on health insurance which is compulsory in many western countries. In some other countries like the US, it will cost you a kidney at the minimum to cover healthcare costs.
Conclusion
Moving abroad is an exciting opportunity, but it comes with its own set of expenses that need to be taken into account before making the leap! Visas, accommodation costs, flight fares and shipping fees all add up, so make sure you do plenty of research beforehand so that there aren't any surprises once it is time to relocate.
With adequate preparation and planning, however, relocating abroad doesn't have to be overly stressful or expensive - allowing potential expats everywhere to enjoy their move and their new homes without breaking the bank!
