You’ve just come home from a great vacation, relaxed and refreshed after a couple of weeks away. When you get home, it’s back to the humdrum and routine of daily life. That’s when you begin to think – could I actually move to my favourite destination? What would I need to make this dream a reality? Would life be the same as when I’m on vacation? Before you sell your house and move, it’s worth some serious planning before you decide if it is really a feasible life decision.
Selling your house
Paying for a relocation is often one of the biggest sticking points when it comes to moving somewhere new. If you own your own property and need to sell, it’s worth considering if the house prices are at a similar value in the area you’re looking to move to. If it’s somewhere that attracts plenty of tourists, for instance, near the coast, then the house prices are likely to be quite high. It may be however, that moving to a smaller property is ideal for your personal circumstances. Another option would be to rent out your house and use the income from this to fund renting a property in the area that you wish to move to.
Finding somewhere to rent
Finding a long term rental property is often the ideal option when you are relocating. It means that you can make the move quickly and you’re not making a big financial outlay on purchasing a house or apartment. If you need to put down a security deposit and don’t have the funds, then taking out a personal loan can often be a good solution. Many banks offer low interest rates, so you’ll be able to pay the loan back quickly. It’s worth comparing loan rates so that you can get a competitive deal. When you’re looking for somewhere suitable to rent, you should aim to find somewhere that can offer you a tenancy for at least six months. Booking vacation accommodation on a weekly basis is not ideal, and will be extremely expensive.
A regular income
Unless you’re retired with a regular pension, you’ll probably need to consider how you’re going to make an income in a new area. In an ideal world, you will have a new job lined up before you move. Are you planning on relocating somewhere where there are good employment opportunities? It may be that you can find work within the tourist industry when you arrive. Another option would be to organise freelance work that is web-based, meaning that you can work from anywhere, as long as there’s good internet speeds.
Having access to healthcare is one of the priorities when you’re relocating. If you’re moving within the same country, this generally isn’t an issue, but if you’re thinking about moving to a more remote destination abroad, then it may be a problem. The Maldives may be ideal for a honeymoon, but if you need to see a doctor to get medication for an ear infection, it’s not going to be easy. Make sure that you thoroughly research the healthcare set up in the area you’re considering moving to.
Make a priority checklist
Moving to your favourite holiday destination is a wonderful idea, but before you put the house on the market and pack your bags, make a priority checklist. Items may include the access to schools for your children, having grocery stores nearby and an active community. Decide what are the most important things on your list and whether they can be met.
The practicalities of moving to a new area are a serious consideration. If you can find a way to work around these, then a move to your favourite vacation destination could definitely become a reality.