Cents For Sense Blog | 5 Costs to Factor in When Moving Abroad | Talkmarkets

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5 Costs to Factor in When Moving Abroad

Date: Monday, June 14, 2021 7:15 AM EDT

gray and white airplane on flight near clear blue sky

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Deciding to move abroad is not an easy decision for anyone to make, but sometimes it is a necessary one if we want to experience all the wonderful magic this world has on offer. There are several costs to factor in, some of which are often forgotten or underestimated in the first place. You do need to sit down and put together an action plan. Don’t be put off making the move, if you’ve come this far in your decision-making process then all you need to do is be prepared for the costs – particularly the following ones:

1. Shipping Your Possessions

Your shipping costs will vary greatly depending on what model of transportation you want to use. Sea freight and airfreight each come with their own set of pros and cons so do your research beforehand. Airfreight is far more expensive but it is often far more reliable. Your end cost will also largely depend on how much stuff you want to take with you and how quickly you want it to arrive in your new country. The cost of investing in real estate in a low-risk country might be one of your biggest costs but it is by no means the only cost to consider.

2. Global Health Plan

Global health insurance is the best long-term solution for individuals and families who are living or working abroad. The cost of a Cigna Global health plan will be offset greatly by the peace of mind you’ll receive knowing that if anything happens to you whilst you are living there, you will be covered. An important thing to know about these kinds of health packages is that they are customizable so you can opt for the exact coverage that you need.

3. Packaging Material

Packing your most beloved possessions will come at a cost, especially if you want to do your level best to make sure they arrive on the other side unscathed. These costs increase exponentially if you want someone to pack and unpack for you; you’re looking at around $100 an hour for a professional team to do it for you. Packing up your stuff yourself is a lot cheaper than this rate but it is still going to cost you a fair bit of money to do the job properly.

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