In a world that’s not always known for its happy events, it’s good to welcome some positive news. So here’s something optimistic to consider: the UK mortgage market is looking more favourable than it has for a while, if you’re thinking about selling up. Many of us have a longstanding dream to relocate overseas – maybe to sunnier climes, or just to somewhere different and exciting. If that’s true of you, it might just be that this is the year you can take steps to turn your dream into reality.
What’s happening with the market?
Although the current demand for properties remains below pre-pandemic levels, it seems that buyer activity in the UK is gradually picking up. More people are looking to buy, supported by easing mortgage rates and a desire to capitalise on lower prices.
Of course, there’s always a note of caution to be struck. It’s never possible to predict how things will change in the market, and the national market picture might not reflect your specific region or property type – but overall there are definitely some strong signs of hope.
What does it mean for me?
If you own a UK property and you’ve been considering putting it on the market, this could be a good time to make your move.
There’s no need to make a commitment straight away, but you could make a no-obligation appointment with a local estate agent to get their input. Their knowledge of the market in your area will help you understand exactly how profitable a sale might be for you right now. Armed with the facts and an accurate valuation, you’ll be in a better position to make the right decision.
Where could I go?
Perhaps you’ve always had a hankering to move to Hong Kong, or a desire to live Down Under. But maybe you don’t have a specific country or continent in mind – you just know you’d like to live abroad and see the world.
Here are some questions to ask yourself, to help narrow down the right relocation for you.
- Do you crave sunshine and beaches? If so, European countries like Spain and Portugal, or far-flung places like South Africa and Australia could be strong contenders on your wishlist.
- Do you want a similar language and cultural backdrop? English-speaking countries like Canada, New Zealand or the USA could be practical options to consider, that still offer plenty in the way of new and exciting experiences.
- Are you looking to immerse yourself in a new culture and language? Japan or France might be right up your street.
- Are career opportunities a priority? Think about thriving locations like Singapore, the UAE or Belgium.
If you still can’t decide, you could always browse our destination guide, with useful and practical information about the myriad possibilities that are open to you. The world is your oyster!
What could I do?
With the rise of remote working, it’s easier than ever before to pursue or continue your career in another country. Many people dream of becoming a digital nomad, working from anywhere with a decent internet connection, all the while exploring new cultures and experiencing different environments.
Alternatively, if you already work for a multinational firm, it might be possible for you to organise a relocation within the same company.
Or maybe you are looking for an opportunity to work less than you do at the moment. Many countries offer a cheaper lifestyle compared to the UK, allowing you to stretch your budget further and potentially work fewer hours.
Whatever your work aspirations, it’s important to understand that employment abroad is not always straightforward or guaranteed. Do some research to make sure you’re up to speed on the employment regulations in your chosen location: you’ll need to know all about work permits and visas, tax, health insurance and employment rights.
If you’re bringing your family, you’ll also need to research work opportunities for your spouse, and understand the education system in your chosen location.
Other practicalities to think about
It’s exciting to put plans in place and bring your dream of relocation that bit closer to becoming a reality. And if you’re the kind of person who loves to make a list, the good news is that there will be plenty of boxes to tick before your move goes ahead!
When you start taking your relocation idea seriously, you’ll need to consider practicalities such as where you’ll live, how you’ll access services like healthcare, and what to do with all your stuff. Luckily we have some comprehensive international moving advice to ensure that no stone is left unturned in your preparations.
Take the first step towards a new life abroad
The future is just around the corner, so reach out and grab it with both hands! Seize the day and pick your destination for a new life in another country.