Want To Know What Happens When You Don't Do In-Depth Cost-of-Living Research Before Moving Abroad?
Marcia Hylton
Sell It All And Move Abroad ☑︎ Travel Writer ☑︎ Move Abroad Advisor ☑︎ Founder at She's Unbound 📌 I Help Prospective Digital Nomads Fund Their Move Abroad ☑︎ Former Corporate Marketer ☑︎ Digital Nomad ☑︎ AF Veteran
Deep down, we all understand that moving abroad is a life-changing decision, requiring thoughtful preparation—especially when it comes to understanding the cost of living in your prospective new home. Yet, it's easy to become so enamored with the allure of an exotic locale that we might overlook crucial details.
Different places can dramatically vary in living expenses, and what might seem affordable at first glance could turn out to be quite costly—or vice versa! Whether you're eyeing an apartment in Mexico City, a beachside villa in Thailand, or a busy urban center in Brazil, getting a realistic picture of potential costs is crucial.
So, do you think you can afford to move abroad? Maybe! This article guides you through some considerations of cost-of-living research with a mix of online resources and firsthand experiences shared by travelers.
Start With These Tools
Before diving into personalized data, tools like Numbeo (Numbeo.com), Expatistan (Expatistan.com), and Earth Awaits (TheEarthAwaits.com) offer a great starting point. These platforms provide general comparisons of the cost of living between cities worldwide.
These sites aggregate user-provided data on everything from the price of a gallon of milk to the cost of a monthly transportation pass to give you an overview. However, remember that these averages might not reflect the nuances of specific neighborhoods or the latest inflation rates.
Additionally, some prospective expats will run country comparisons, forgetting that the cost of living can vary significantly between regions of a country and even within neighborhoods.
Personalize Your Research
After using these tools to get a general idea, your next step will be to customize your research to match your lifestyle and budget. Here are some effective strategies:
1. Airbnb And Accommodation Costs
Many prospective expats recommend starting with Airbnb to gauge rental prices. Monitor daily and monthly rates to understand seasonal price fluctuations and availability. Be cautious in places with high inflation, such as Argentina, as listed prices might not be up-to-date.
2. Dining And Everyday Expenses
Browsing restaurant menus on Google Maps can be pretty revealing when estimating dining and grocery costs. For a deeper look, check if the city has popular food delivery or grocery apps. These platforms often provide current prices and are used frequently by locals.
3. Transportation
Transport costs can vary significantly from one place to another. Checking local public transport sites for ticket prices and passes can provide good insights. Consider the cost of long-distance travel within the country if you plan to explore extensively.
4. Engage With Current Residents
Connecting with people who live or have recently lived in your destination can offer invaluable insights that no website can match. Platforms like Facebook (country-specific expat groups) and Reddit allow you to direct message users for firsthand accounts, which can be more up-to-date and personalized than published data.
5. Consider Lifestyle And Regional Differences
The cost of living can vary dramatically even within the same country, often being higher in major cities than in surrounding areas. Consider whether living on the outskirts of a big city could balance affordability with quality of life. Additionally, universities often provide budget estimates for international students, which can be a helpful reference for understanding living costs in developed countries.
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Data Can Differ Across Cost of Living Comparison Platforms
Let's compare Mexico City's cost-of-living data across three platforms. In this example, we compare two cities: Mexico City, Mexico, and Houston, Texas.
These platforms may use different data points and conversation rates and update their data in varying timelines.
Feedback From Other Expats
Here are a few experiences shared by expats:
My Final Thoughts
Understanding that costs can vary significantly by region, city, and even season is crucial. Always use country-wide averages as a guideline, but be prepared to adjust your budget upwards for cities like Munich or Hamburg, especially during peak rental seasons tied to the academic calendar.
By taking a thorough and measured approach to researching your potential new home's cost of living, you can set realistic expectations and budget accordingly. This proactive research will prevent unwanted surprises and empower you to make well-informed decisions, ensuring a smoother transition to your exciting new life abroad. So, use these tips as your first step towards a successful expat experience—wherever life may take you!
More Resources
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