Following on from the coronavirus pandemic, many experts are predicting that there will be a property boom over the coming months, with hundreds of people setting their sights on moving abroad. And who can blame them? After enduring months on end of lockdown after lockdown, many people simply want an escape, whether that be through investing in a new holiday home or making a permanent move abroad instead.
However, before you completely decide to jump ship, there are a few important things you’ll need to consider in advance of packing your suitcase.
From the destination you decide on, to the tax and VISA implications, join us as we run through the four key questions you’ll need to ask yourself before opting to move abroad once and for all.
Why are you leaving?
One of the most important questions to ask yourself before moving abroad is why are you leaving.
While the coronavirus pandemic may have been incredibly lonely and frustrating for many, moving abroad is a huge decision which will involve leaving everything you know – and everyone you love – behind.
As such, it’s vital to know in your heart of hearts that moving away is definitely the right decision for you.
The best way to do this is by carefully thinking through your reasons for moving, before determining whether all that you’re leaving behind is worth what you are moving towards. If it’s not, then you will have a big decision to make.
Where are you moving to?
The next question you’ll need to ask yourself is where exactly you plan on going when you move abroad.
Whether you’re looking to invest in a townhouse in the centre of Marbella, a coastal holiday home on the Gold Coast, or a deluxe villa in Santorini, it’s important to weigh up where you want to spend your time.
After all, where you decide to live will have a knock-on effect on every other aspect of your life – your finances, personal prospects, and ability to respond to cultural changes.
It will, ultimately, be up to you to decide on a destination where you feel most comfortable – somewhere you can imagine yourself feeling at home, a place where you’ll be able to learn the language and seamlessly immerse yourself into the cultural way of life.
What will you do for work?
While it may be all well and good deciding to up sticks and move abroad, you won’t get very far if you don’t have some form of financial plan in place.
As such, it’s important to think about what you are going to do for work and money while you’re out there. If you won’t be able to speak the local language for a few months, for instance, you could struggle to find a homegrown job or network with local businesses.
If, however, you are able to work remotely for the time being – or are only thinking about investing in a holiday home at the moment – this shouldn’t be as big of an issue.
Generally speaking though, it’s always good to plan and do a bit of homework on the local job market in the destination you’re thinking of moving to, if only for a bit of added peace of mind.
Will you need a visa or work permit?
Every country has different rules over who can or can’t work there, so it’s important to do some research into the visa/work permit rules and regulations before deciding to move.
Especially after the recent Brexit deal being implemented, the rules around living and working in Europe as a UK national have become more complicated.
Therefore, you need to look at what’s realistic or not. The last thing you want, after all, is to invest in a big move away to Australia, only to find out your work visa will run out after a year or so of living there.
Moving abroad can be an incredibly exciting thing to do and, following the recent coronavirus pandemic, it’s hardly surprising to find out that many people around the world are thinking of doing it
However, before deciding to set sail once and for all, it’s important to remain cautious.
Do your homework in advance, meticulously look at all the fine details before determining whether it’s the right thing for you to do or not. That way, you’ll be able to rest easier in the knowledge that you made the correct decision, allowing you better enjoy your time abroad.