Moving internationally is an exciting challenge, but one that requires careful financial planning. In this article, we present a comprehensive guide to help you estimate all the costs involved in such a relocation. Here are the most important aspects to consider to avoid unforeseen expenses.
1. Costs of transporting the property
The biggest expense when moving internationally is the transport of belongings. Depending on the amount of belongings, the distance and the mode of transport chosen, costs can vary considerably.
How do you estimate transport costs?
- Choice of mode of transport:
-sea transport – suitable for large amounts of property, but time-consuming;
-air transport – fast, but more expensive;
-road transport – often chosen for removals within Europe.
- Weight and volume: removal companies usually calculate prices based on the weight or volume of the items being transported. It is a good idea to measure and weigh your possessions before choosing a quote.
- Additional services: packing, unpacking, storage or insurance can increase the cost of the move.
2. Formalities and documents
International removals involve certain formalities that generate additional costs.
What to include?
- Customs duties and taxes:
-many countries require a duty to be paid on the property being transported.
-sometimes VAT has to be paid on certain items.
- Documents:
-the cost of certified translations of documents such as rental agreements or certificates;
-fees related to visas, residence or work permits.
- Customs agency services:
-if you use intermediaries, be prepared for additional expenses.
3. Accommodation in the new country
The cost of accommodation is an important part of the moving budget.
What to consider?
- Renting a flat or house:
-security deposit: usually equivalent to 1-3 monthly rents;
-real estate agency costs: in some countries the agency fee is as high as 10-15% of the annual rent.
- Short-term accommodation costs:
Hotels, flats for rent or Airbnb can be essential when looking for permanent accommodation.
4. The cost of living in the new place after the move
Living in a new country may involve higher expenses. It is important to take into account:
What expenses to plan for?
- Daily costs:
-food, public transport, utilities.
- Healthcare:
Health insurance: in many countries it is compulsory and paid for;
Medical appointments: these can be more expensive than in your current place of residence.
5. Costs associated with hiring a removal company
Professional removal companies can make the process much easier, but their services are not cheap.
How do you choose a company and estimate costs?
- Comparison of offers: it is worth asking several companies for a quote.
- Scope of services:
-standard carriage;
-complete packing and unpacking;
-specialised services, such as the transport of pianos or works of art.
- Hidden charges: make sure there are no extra costs in the offer, such as charges for getting things to hard-to-reach places.
6. Property insurance
Insurance is a key part of planning an international move. It protects against unexpected costs in the event of damage or loss of property.
- Types of insurance:
-transport: covers damage caused during transport;
-domestic: covers property during the move and on site.
7. Other expenses during international removals
Unforeseen costs can arise at any time, so it is worth factoring them into your budget.
- Examples:
-costs of visits to the new country: Travelling to look for accommodation or deal with paperwork;
-selling or disposing of unnecessary items: If you decide to reduce the amount of property being transported;
-purchasing new items: Some items may not be economical to transport.
International removals
Financial planning is crucial for any international move. Taking into account all aspects, such as transport, paperwork, accommodation and daily expenses, will avoid stress and unpleasant surprises. Remember to prepare a budget with a margin for unforeseen costs and use an experienced removal company to provide support at every stage of the process. Moving abroad is a big undertaking, but with the right financial preparation you can make it much easier and more predictable.
