5 Tips for Avoiding Unseen Costs in Your New Home

Contributed by www.flooringrepublic.co.uk, 02 August, 2017

Whether you're relocating for work or moving overseas in pursuit of better weather, with visas, flights and furniture removal fees to take into consideration, the process of emigrating is not without its costs. But with the current state of the UK's housing market meaning prices are remaining near all-time peaks, now could be the times to sell up in exchange for sunnier pastures.

Moving house can be an expensive business – especially when it involves travelling abroad – but with some careful planning, prospective expats can reduce the likelihood of running into unseen expenses when settling into a new country. From forgetting to factor in flooring costs during your home renovation to the confusion that can come with energy bills, a lot of expatriates will end up spending more than they bargained for, and that's why today, we're bringing you some top tips to help you keep moving costs to a minimum.

1. Ensure that your furniture will fit

Spending some time in your new country before making the move will give you the chance to start settling into the neighbourhood, and by visiting the house itself ahead of emigrating, you'll be able to work out what you'll actually need, and want, to bring with you. Whether you're moving into a furnished or unfurnished property, by measuring up in advance, you'll be able to ensure that the furniture you move overseas will actually fit into your new home when you arrive. By leaving behind any awkward items that you won't be able to accommodate in your new home, you could cut back on removal costs too, so there'll be more money in the budget for putting your own stamp on the place.

2. Understand energy costs in advance

While high heating bills might be less of a concern in hotter countries, air conditioning systems can be costly – so to keep your finances in order, make sure you understand how much your utility bills are likely to set you back in your new country. If prices are higher than expected, use this time before you move to shop around for alternative providers and look for efficient ways to lower your energy consumption.

Working out what your expected monthly energy expenditure is likely to be, and converting this into both your current and new currency, will mean that you can see whether the costs are proportionate with what you'll be earning as an expat. And by comparing your UK utility bills with estimated future outgoings, you'll be able to calculate what you'll be able to afford to spend each month.

3. Invest in home renovation features that will last

If you're renovating your new property, expats need to remember that the different climate is likely to affect the type of materials that are most suited to your interior. In countries with dustier conditions, easy-to-clean options like laminate flooring will save you time on weekly domestic chores – and this type of flooring can also be a cheaper and longer lasting alternative to carpet, so you can avoid replacement costs in the near future. Carpet fibres can contribute to the insulation of a property too, so if you're moving to a hotter country, keep your property cool with wood or tiled flooring underfoot.

4. Check out the customs duty charges and taxes

Depending on where you're moving to and from, the rules and regulations of different countries could mean that you find yourself facing high charges and taxes for transporting certain goods overseas – so to avoid high costs when emigrating, make sure that you fully research the customs duties and taxes first, and find out if you can claim relief on them too. More often than not, these charges will depend on both the type and value of the goods, so make sure you consider in advance whether it's worth the cost to move each of these items abroad.

5. Think about insurance

With the UK's National Health Service (NHS) designed to provide health services that are free at the point of delivery, it can be easy for prospective expatriates to forget about the need for funding their health care when moving abroad. While it may not be requirement for residents to have health insurance in some countries, in others, it's mandatory that residents purchase cover within 4 months of their arrival. In the Middle East, a 'No Insurance, No Visa' policy means that expats without proof of medical insurance in the United Arab Emirates could be left unable to open a bank account or rent a house. To avoid spending money on temporary accommodation while gaining the official documentation, research the country's rules about health and home insurance and, where necessary, invest in a policy before you make the move.

From taking measurements of each room and ensuring that your current furniture will fit in your new home to investing in long-lasting flooring that suits the needs of your new property, there are plenty of ways in which you can plan ahead – so follow these 5 tips and make sure that you're as prepared as you can be for any unseen expenses ahead of your move.

Tags: business | Work | Invest | Middle East | currency | budget | expatriates | Insurance | United Arab Emirates | regulation | services | energy | insurance | health care | fees | tax |

 

 





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