Going away....

itsarichmansworld

Hi All,

If some of you remember a few months ago I wanted to move abroad and got some fab advice from a lot of you, But at the time I decided I was running away from my problems the debt, The old horrid joband to be honest a pretty miserable existince.

So from there I got a new job (more money)
Re-mortgaged paid off unsecured debt I still have debt in the mortgage.
And generally a lot happier wee woman.

So the story goes on Myself and DH have decided we ARE going to move abroad for a year at least we're in our 20's and its a case of now or never, Planning on going next year so we're going to start saving like mad!

We're off to Dubai the fine details like when etc we will go are still on the drawing board!

But we are going to do it.

Now This is where I need advice. How much should we take as savings?
Should we rent out our flat for the year?

Anyone who has done this or just anyone who has advice please feel free to jot them down here.

Hopefully this will be a wee diary of what we are doing etc.

immoral_angeluk

Wow well done you for grabbing life by the horns! It sounds so exciting and I'm very jealous!

ancasta_2

Best of luck to you.

We are also on the emmigration train... for America... if it all comes off.

itsarichmansworld

wow ancasta where in the states?

We looked there but all the visa stuff put me off.

Dubai employers do all that for us

I feel so excited and scared all at the same time I have to do this!

Sea78

Hi!
Sounds very exciting
are you just going for a year? Would the rent on your property cover your mortgage and any other expenses? If so - I'd rent it out as then you always have it to come back to...

Sea xx

Lotta

Not sure if this is a case of now or never, just might feel that way. There are always opportinities around the corner. I'm orignialy from Sweden and moved to Belgium in my mid-20s, and now I have moved to the UK in my mid-30s.

How much money to save is a very difficult question to answer since all depends on how much risk is involved with the move and how much your employeer is prepared to help you with.

When I moved to Belgium I had no savings but could stay with my father so none were needed and I did not have job but it was low risk move.

When I moved to the UK, I transferred within the same company but I still made sure that I had 6 months of savings, which was very good since I had to wait 2 months for my salary (due to having problems getting a bank account) and I also had to pay 2 months rent as deposit.

I would recommend that you investigate the monthly living costs, the deposits needed and any other charges that you might be faced with early on in your stay and then double this amount as being the necessary savings.

Also don't forget that you need savings for when you come back as well.

I would rent out the house regardless if the rent covers the mortgage or not.

Kind Regards
Charlotte

itsarichmansworld

Thanks Charlotte,

We've looked into this quite a lot in Dubai most companies will set us up in a house/flat and visas etc taken care off. Ideally both of us will get a job that does this I really want to work for a airline (emirates) So travel etc here and back will be no probs if I get the Job.

The house can easily be rented out for more than the mortgage.However we want at least 4k in the house fund incase we cant rent it or any problems happen whilst we're away this should cover mortgage, Ctax etc.

We have a car that we can sell we reckon we would get at least 5k for that.
Now that would be our set up fund for starting out in dubai as we need some cashflow to settle in.

Sea78 initally yeah a year but we reckon if we love it sell the house and stay out.

I'm so excited at the prospect of this feel as though I am finally realising and hopefully about to start living my dream.

elantan

oh rich ...brilliant news....i couldnt be happier for you and dubai is deff on that wish list we spoke about....cant wait to read about your success i plan on movongabroad as well (although notfor a few years) so will be following this thread and all the tips

itsarichmansworld

:wave: Hey Matey!

I was going to say something on your diary But I sabotage it enough!

I'm so excited time to save save save!

elantan

you know your more than welcome on my diary (i just write rubbish anyway)...but it is a fantastic idea to start your own...this way i can sabotage yours too lol

PigginSkint

Ooh how exciting! Good luck!