Being armed with facts even before you arrive

Getting an opportunity to relocate abroad often brings a lot of excitement, but along with this joy comes a question: Is that move affordable? The answer requires a deep understanding of the cost of living in your destination, particularly if it is a pricey one, as well as understanding your own priorities.

When looking at how much income and relocation costs are needed to make the move feasible, you should make sure that you’re not miscalculating any factor that can later prove to be hurdles in the way of continuing to live abroad or at least enjoying your new life.

Learning about the cost of living in a particular city isn’t complicated, however. In fact, in today’s world where information is easily accessible online and travel is relatively inexpensive, one can get a pretty accurate idea about the exact cost of living somewhere. Most important is to be realistic and thorough in your research and take the right approach toward estimating not only the cost of your essentials, but also the luxuries that you often like to enjoy.

Here are a few methods to help you with your research:

Online resources

There are many online resources that can get you started. First, check local forums and post questions about your exact destination. Be as specific as possible. In most big cities, costs are not even among different neighborhood.

So try to get a clear idea about the status of your future neighborhood and the costs of major categories such as rent, school tuition, commute, etc. You’re more than likely to find many people who are willing to share their experiences and details of costs. Use what’s relevant in developing your own list of expenses.

In addition to online forums, check local newspapers and websites, read unbiased articles that discuss issues such as inflation, rent increases, poverty, etc. This will help you develop a clear picture of where you will be landing.

If you’re moving to a big city like Dubai, London, New York, you should find plenty of online research reports that discuss the cost of living in these cities, issues related to increasing prices, etc. These reports can be detailed and serve as a good guide for which areas even within the city are more expensive and which are not. This can help you plan your move more precisely.

Fact-finding mission

A decision to relocate into a new city can be a big move for the person making this decision, as well as everyone else who is affected by it. You want to get it right. With that in mind, if you’re not sure about whether your future income will be sufficient or not, it may be worth it to take a fact-finding trip.

Yes, this is a costly approach, but it may be well worth the investment either way. If you find that the costs are reasonable and you can handle them well, then your investment is well in its place. If not, you’re not saving yourself a wrong move that could have ended up much more expensive. The trip also can help you look around and get a feel for the place – traffic, feel of different neighborhoods, etc.

Know your lifestyle

A major issue that comes with moving from to a city with a higher cost of living is dealing with compromises. Assuming your pay proves to be enough to cover just the basics, now it is time to choose which luxuries have to go. In this exercise, you need to be realistic about what affects your quality of life as well as that of your family.

Are you planning to move from a five-bedroom villa to a two-bedroom apartment? This may be tough. Will you disposable income be on par with your current status to allow for vacations, outings, etc.? It is really a matter of taking a close look at where your money goes now and see if you’ll be to maintain a similar lifestyle with tolerable compromises.

The writer, a former Gulf News Business Features Editor, is currently a Seattle-based editor.