A pet, a lease, a partner, and a plethora of other barriers can prevent us from jumping into the deep end and relocating permanently to a foreign country. However, it is possible that after you have removed everything that was in your way, you suddenly think, “How am I going to pay for this?”
It is expensive to relocate abroad on your own dime. You’ll need to make numerous trips to IKEA to get your apartment in livable condition, in addition to paying for flights, Airbnbs, deposits, and other expenses.
Here is a realistic estimate of how much it will cost you to relocate outside of Europe and how you can finance your aspirations!
Deposit and rent
Rent costs and the required security deposit can change depending on where you’re moving. In addition to the cost of living, which includes your monthly rent, you’ll also need to have this amount on hand.
The customary deposit amount in Germany is three times the monthly “cold rent.” Therefore, your deposit would be 1,500 EUR, for instance, if your rent is 700 EUR, which includes heating and other amenities, and costs 500 EUR as a base price.
Of course, it depends on the area. However, in Germany, you would be required to pay the security deposit AND the first month’s rent together with your initial payment. Be ready because in many cases, that amount could be in excess of 2,000–3,000 EUR!
Flights
You must calculate the cost of your flight, including the cost of bringing the necessary luggage. You won’t have to pay for additional luggage if you pack lightly and only bring a carry-on, a large suitcase, and a smaller one. Otherwise, the majority of luggage is charged per kilogram, so keep those costs in mind.
Depending on the time of year, where exactly you’re flying from, and how much luggage you want to bring, I would budget between $1,000 and $1,500 for traveling between Europe and the United States.
Visa costs
In Germany, a Blue Card costs 140 EUR, but the price can vary depending on the nation you relocate to. Make sure to research the costs in the nation where you intend to relocate.
So, what is the price?
Here is how I personally calculate the cost of moving to Berlin as a single person. Based on the cost of living where you want to relocate, you will need to modify it:
- 2,500 EUR (Living expenses)
- 2100 EUR (Safety deposit)
- 1,200 EUR (Flight)
- 140 EUR (Visa)
- 1,500 EUR (Safety net)
8,000 EUR in total