Nobody relocates without thinking things through. At least, nobody who isn’t in a film, and can’t conjure up the money at the click of their fingers. We may all have an idealistic idea of hopping on a plane, but the reality is very different. It involves endless paperwork, finances, and decisions.
The main thing to consider during any relocation is the money involved. First, you need enough to buy a new place to live. And, of course, you need to pay to have all your belongings either shipped or flown to you. On top of which, there are the costs of your flights. It all adds up.
And, that’s not even the end of it. The true cost of a relocation is often in the little things. And, to make sure you don’t overlook them, we’re going to go through some here.
#1 Passport Renewal
Because the universe likes to trick us, you might want to check your passport well before your move date. You won’t be going anywhere fast if you need to get renew it at the last minute.
Even if you do check in time, this will set you back a steep £72.50. That’s a significant chunk of money you didn’t account for.
But, if you want to go, you’ll have no choice but to head to https://www.gov.uk/renew-adult-passport/renew, and get yourself a new one.
Bear in mind, too, that if you have loved ones back home, you’ll need to do this every ten years. And, the chances are that the cost will have gone up a little before your next time around. The expense will soon add up.
It’s also important to note that any policies you already pay may become obsolete in your new living situation. As can be seen on sites like https://www.insurancehero.org.uk/faqs/can-people-residing-outside-of-uk-get-life-insurance.html, policies such as life insurance don’t always cover an overseas move.
The same can be said for health insurance and such. Even your pension may come under fire in your new situation. Make sure to update and change everything to save yourself spending money on policies which are no longer relevant.
Bear in mind, too, that you may end up spending more to receive the same cover you did before.
#3 Ongoing Costs of Travel
We touched above on the ongoing need for passport renewal. But, that’s not the only expense involved with moving away from loved ones.
You will also face ongoing travel costs. Even seeing your family once a year will set you back a fair amount by the time you’ve bought a return ticket.
And, given that this will be an ongoing situation, those costs could add up to a significant sum over your lifetime.
So you see, even if you think you can afford a relocation, you need to have plenty to play with. Not all these costs are relevant immediately, but they will be down the line. And, given that a relocation can be a pretty permanent thing, it would pay to consider them before it’s too late.