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What NOT To Do When Moving Overseas

By Edited Oct 27, 2013 2 6

All too often you hear horror stories of those who have taken the leap and left their home country for sunnier pastures... or beaches. They get there and everything goes wrong. They loose their shirt, their life savings dries up faster than a drop of water in the Sahara, and the end up back in their home town beaten and miserable.

In this article we will attempt to lay out a few sensible things to avoid doing when you are going to move overseas. Some may seem silly but you would be surprised how many people make these illogical mistakes and end up regretting them soon after. Follow some of this advice and you will save your self a lot of heart ache, high blood pressure, and unnecessary stress

First, Always check the title of the land. It would not be in your best interest to take the word of a bright-eyed agent that the title is clean.

Next, using your American Express card for a down payment on a property is going to end up costing you a lot more money. The current International Transaction fee is 3% in the U.S. So do the math, and plan accordingly to save money.

Don't ever just assume that taxes aren't an issue where you live. If you have any sort of income, and even if you don't, you will want to speak with both a local CPA, and your home CPA to make sure everything is right. Trust us, this will save you quite a few sleepless nights.

Another thing that is important to keep in mind is that when you are visiting another country, you may be looking at your country of choice with 'rose colored glasses' on. No matter how badly you want to get out of the country you are living in, do not buy a property on your first visit to a new country. Places like Playa Del Carmen, Cancun, and Sayulita may look nice at first, but you need to understand the reality of living in a foreign country before you take the leap. Take your time to decide where the best place is for you to settle down. Protect yourself from a broken heart.

If there is one thing the U.S. and Canada are good for, its simplicity in regards with the little things. For example, you can stroll into a library; give them your name and phone number, and then Voilà ! You are given your very own library card.

Oh if only things were that easy overseas.

Whether you are trying to get car insurance, or something a little as a video store membership, you're most likely going to be required to confirm your residency. This isn't hard to do, but it can get very frustrating and annoying if you do not have said confirmation packed away in your purse or pocket. A current electricity bill should suffice. Keep in mind though that each country is different. It never hurts to be prepared.

Lastly, take your time when it comes to seeing different properties. Even if you love the first property an agent takes you to see, take a deep breath and sleep on your decision first. It never hurts to put a little extra effort into looking at more properties, just to make sure that you are making the best decision.

Part of attaining your freedom and true wealth is living in the place and in the manner that you have always dreamed of. You can easily run an international business from your laptop anywhere... but it's not always as easy to actually live just anywhere. Take off those rose glasses, and see the reality of each and every decision you make.


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Comments

May 11, 2009 8:06pm
lissie
Yeah I am wondering with the curent financial situation more Americans will look to move to cheaper places like Mexico (ignoring the swine flue panic of course) - it would seem logical to me - but humans are rarely logical (sorry chaneling star trek)
May 11, 2009 8:54pm
brawnydt
Star Trek isn't out in theaters here yet... :((((((( I'm kinda dying a little.

But yes, Mexico has gotten a ton of bad press recently, and it's not deserved at all.
May 11, 2009 9:33pm
Ryan
Where abouts do you live Brawnydt?
May 11, 2009 11:19pm
brawnydt
Currently in a little beach town called Manzanillo. Not far from some half decent surf, but not as close as I'd like.
May 11, 2009 9:55pm
lissie
Hey as we say downunder - BUGGER - it opened in Thailand that same day as Australia - I guess you have to wait for the sub-titled version?
May 11, 2009 11:21pm
brawnydt
Yea, I guess. Everything was shut down for a few weeks due to the flu, I hope it still comes here.
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