Aside from the expenses for moving to your new home, which include removal costs, rent deposits and sale fees, have you considered the actual cost of living abroad? Many people think that life in a new country is cheaper and they are most likely right in some cases. But still, there are countries such as Norway or Switzerland which are famous for its high standard of living. Here is a breakdown of the costs which you should consider when moving abroad.
Cost of everyday items – food, petrol, etc.
The cost of everyday items like groceries and fuel vary widely across Europe. While many popular expat countries like Spain have seen a significant rise in the cost of living it can still be about 20% cheaper for Britons to live there. But note that cities such as Barcelona and Paris are among the most expensive cities in the world to live in. You can check the cost of living in various European cities with this useful online tool.
What taxes will you have to pay in your new country?
Taxes will vary depending on where you move to and whether you are employed or self-employed. If you spend more than 183 days or 6 months in a given country, you will need to pay tax. Keep in mind that if you are not going to apply for a permanent residency you may need to still pay tax in your country of origin. To check what rules apply to you do your own online research. This website, for example, can give you further information about the taxation rules that apply to people who are EU residents but live outside their home country.
Childcare – how much does it cost?
Childcare costs vary widely from country to country and you will need to research how much it will cost you in the country. you’re moving t. If you currently reside in the UK, for example, you probably pay around £1,000 per month for full-time childcare, whereas in Norway the cost of childcare is around £300 per month. In Poland and other countries, for instance, childcare is offered to children between 4 months and 3 years old. After that, they are sent to Kindergarten until they turn 6.
Education – what are your options?
If you have children, the cost of education plays a huge role in your decision about moving abroad. In many countries the free public schools are excellent and you can confidently send your child to one. Alternatively, you can choose to pay for private education at an international school. The cost of sending your kids to an international school is likely to be prohibitive but many expats moving abroad with children look to have the cost covered as part of their relocation package.
The cost of healthcare
One of the most important things to do when moving abroad is to research the healthcare options available to non-residents. The healthcare systems and the way they work vary greatly from country to country so make sure to get familiar with the specifics of the healthcare plans in the country you’re moving to. Bear in mind that most European countries have public healthcare service available to anyone, including foreign citizens, while others may require you to get private health insurance to get the best healthcare service.
When moving abroad don’t forget to consider the monthly costs you will need to pay. And they include more than heat, electricity and water, there is the price tag on your phone bills, internet subscriptions, etc.