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What You Need To Know About Moving Abroad Print E-mail
Written by Louise Tillotson   
Tuesday, 31 January 2012

ImageMany people are now considering moving abroad to enjoy the great weather, laid-back lifestyle and stunning property bargains. While moving to another country is in some ways similar to moving house within the UK, there are a few areas where a bit of research can be very helpful. For example, before you start looking at houses abroad, review your finances and make use of a mortgage calculator to see exactly what you can afford to spend.

Whether you are planning to move for a new job, buy a retirement property abroad or are simply renting a house in your chosen location, it helps to do some investigation before you start. Initially, you need to decide which areas you would like to live in and what type of property would suit you. It is important to get an idea of property prices in the country you are moving to.

Visit the Location First

If you can take a trip to your preferred country, then stay for a few days and have a good look around. Investigate the essential amenities you might need such as schools, local shops and healthcare providers. This kind of extended visit will also give you the chance to experience other aspects of life such as travel costs in the area. If you can, talk to the locals and other ex-pats and find out as much as you can.

Once you have decided on a location and have an idea of property prices, you should look closely at your own finances to see if you can comfortably afford to buy the kind of property you want. A mortgage calculator can be a handy tool as it can help to make monthly mortgage payments transparent. An adjustable mortgage calculator will show how changes in interest rates and borrowing periods will affect these monthly payments.

Expect the Unexpected

Don't forget to factor in the additional costs of moving abroad. As with moving house in this country, you will need to pay transport costs and solicitors fees. However, bear in mind that you might have local taxes to pay. You will definitely need to instruct a lawyer in your chosen country. Allowing an extra 10% on top of the cost of your new home to cover all of the extras is recommended.

It's important to check any visa or immigration requirements you might need to meet. If you want to take your pets you will have to fill in the respective forms and applications. It is worth taking some time to learn the language of your new country, even if the locals do speak English. Making use of the services of a moving company that specialises in relocating abroad can take away a lot of the hassle.

Moving abroad can be daunting and a little confusing, so getting independent advice can be very helpful. Despite all the red tape and weeks of planning, starting your new life abroad will be the biggest adventure you'll ever undertake and you will never look back.

Written by Louise Tillotson on behalf of MoneySupermarket.com . If you're planning to move abroad, try the free mortgage calculator tool on Moneysupermarket to help you figure out what you can afford.

 

 

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Last Updated ( Tuesday, 31 January 2012 )