Moving abroad is an exciting step to take, but the cost of doing so can vary greatly based on a number of factors. Whether you are moving alone or with your family, have a job already lined up or need to find one once you arrive, the choice of your destination country and desired lifestyle will all impact the final amount you will need to pay. Here is a breakdown of the key costs involved in an international move so you can plan for the road ahead.
One of the first expenses you must deal with are your plane tickets. The price will depend on where you are headed, with average costs ranging from £200 to £1,000 or more. If you are moving your family, you will need to multiply that by the number of travellers. Additionally, if your new home will not be ready when you arrive, remember to factor in the cost of temporary accommodation. And don't forget about travel insurance to cover potential unexpected costs like lost luggage, long delays or cancellations.
The biggest part of your international moving costs will likely be shipping your belongings. You can choose between sea and air freight, with container shipping costs varying depending on how much you are moving. For some, using ocean freight can save money, though it takes longer than air freight. A full container load for a two-bedroom house typically costs between £3,000 and £5,000, while smaller shipments will be cheaper. Most shipping companies offer removal services that include packing materials like boxes and bubble wrap, but these extras can quickly add up to make the final price you have to pay unreasonably expensive. There will also be extra costs if you require storage space upon arrival.
Visa fees are almost always unavoidable. These fees can range from £100 to £1,000, depending on the country you are moving to. If you are lucky enough to have a job lined up, some employers may cover this, but if not, make sure you budget for it. In addition to that, you will also need to factor in customs duties on your household goods when they arrive at your final destination. Most countries have customs duty fees for large items, like furniture and electronics, although some offer duty-free policies for new arrivals. Planning to take your car overseas? You will face custom duties for that, too, along with extra paperwork.
Once you have arrived in your new country, the cost of living becomes a factor. If you don’t have a job lined up, you will need enough savings to cover rent, utilities and daily expenses until you are settled. If the country doesn't offer free healthcare, health insurance is another must-have and that will depend on the rates in your new home. Don’t forget to also account for any unexpected costs, like the fees involved in transferring money abroad – it is always wise to have a buffer.
Your cost of moving overseas will vary depending on many factors, from the size of your household to your destination country. Larger container loads, moving insurance, visa fees and even moving a cat abroad all add to the total cost. Make sure you also consider additional costs, such as removal company fees, customs duties and travel costs.
International moving companies offer packages covering everything from removal services to shipping, but prices vary. You can compare options and secure the best deal by getting quotes from different shipping companies. Planning ahead for all the costs involved will make the whole process easier and help you avoid surprises as you prepare for your big move.
The Importance of Having Insurance
A Guide to Managing your Money: Repaying Multiple Lenders
Talking to kids and young people about money
A Guide to Managing your Money: Sustainable Budgeting
For more helpful information about how to manage your money, different financial products or what we do at Polar Credit, take a look at our Info Hub.