Big part of any relocation decision is figuring out the cost of living in your destination. Knowing how much it is going to cost you to move and live might make or break the deal if you have a job offer in hand.
That is why you must take your time and make sure you’re not overlooking any big spending item. For example, if you’re moving to the UAE, school tuition could be as big as rent in terms of decision whether a salary is sufficient for you and your family.
Based on your destination, you might find enough resource — or not — to be able to find the typical cost of living. But even with these resources, you must be careful and use your best judgement. Remember, even within the same city, different neighbourhoods can bring additional costs. So be aware of the specifics of your destination.
Here are a few points to keep in mind.
Realistic costs
If you’re looking online, you might come across resources that provide broad estimates of the cost of living in your destination. Using these estimates can be misleading, although they might be a good start. To be able to discern whether these costs are realistic of not, see reviews of the websites you’re checking and compare these costs to what you can easily verify online.
Again, rents, tuition and transportation can easily be verified by reaching out to real estate agents, school and car rental companies. This information can help guide your decision regarding a website credibility. In addition, check out how dated the information is. Costs from a couple of years ago are probably unrealistic even if inflation has been low in your destination.
Find real people
If you know where you’re moving exactly, find local forums where you can reach out to your future neighbours and ask questions. Keep in mind that people live at various lifestyle. So make sure you be specific when you ask questions. For example, if you want to know how much someone would spend on groceries per week, try to get a sense of this person’s family size and types of food they purchase.
People are often willing to share as much as a receipt of their grocery purchases. Ask questions regarding particular regular spending that matter to you. For example, if you’re following a gluten-free diet, ask about availability and costs. Similarly, make sure that you are not overlooking your own lifestyle — or expect yourself or your family to make significant sacrifices.
Think of additional costs
Ask about costs that are solely related to your destination. For example, will you have to pay taxes? What is your expected rate? What appears to be a huge salary might not be sufficient if you are not considering deductions, for example, for health care, and taxes.
In addition, consider your transportation carefully. Will you need a second, or even third, car? How about childcare? All of these questions can be answered if you get a better understanding of the lifestyle at your destination and its specific requirements.
Go visit if you can
If you’re quitting your job and moving your family to a new place, a fact-finding trip is totally worthwhile. If you can afford it, go visit your destination — even if it is your home country — to get an idea of the costs of living there. Try to shop around and hit all the major expense items on your budget. Tour stores and get a sense of prices. And talk to as many people as you can about your plans. Their feedback can be invaluable.
Finally, talk with people who made a similar move to the destination. Make sure you ask the right questions. For example, ask about what stretches their budgets most. Ask about the biggest surprises they encountered after their move. By doing so, you will be able to get a full picture of the costs of living and make an informed decision.
The writer, a former Gulf News Business Features Editor, is a Seattle-based editor.
Find the cost of living before relocations
Look for reliable resources
Talk to real people
Think of additional costs
Visit before your move if you can
— R.O.
