Now I'm settled (1.0) in Portugal, in my nice little cabin, with my house in the UK successfully tenanted, I've finally managed to calculate my total cost of transitioning, and it looks like this:
Total cost = £4390
- Travel = the cost of driving from the UK
- Accommodation = hotels and AirBnBs
- House rental = getting the house sorted for rental
- Setting up = getting sorted in my cabin
- Beers = Beers!
There were some unexpected expenditures along the way, so the cost has been slightly higher than I'd anticipated, but the move hasn't broken the bank either!
Category breakdowns
- Travel costs were quite a lot more than I anticipated - mainly because of my flat tyre en route, which I drove on for way too long to the extent that I mullered two tyres, and did some other damage too, costing me 200 EU to get it fixed. I also scraped my car, and that'll probably be another 200 EU (estimate) to sort, AND I've got a few silly toll fines to pay - I had no idea I had to pre-register to drive on motorways in Portugal, it's such a shitty system!
- Accommodation costs were just my temporary dwellings en route and when first arriving in Portugal - a couple of hotel stays, I didn't find sleeping in my car in Aires comfortable at all, and I had an extra 5 nights in an apartment in Covilha because I left the UK a week earlier than expected, then my nice yurt near Orca which was planned.
- House rental - I've already talked about that - more than I thought because of some gas safety work I needed to get sorted and I've included the first month's fees - which is most of the first month's rent!
- Setting up the cabin is mainly a new heater and gas bottles, but also I've included the deposit, which I'll get back, so maybe OTT.
- And beers, that's just beers!!!!
There might be additional expenditures
There's a possibility I might have to pay another £1000 or so to sort my car out for Portugal, and maybe some further costs related to stuff I need to buy that I haven't anticipated.
When will this pay for itself?
This all depends on what my average monthly cost of living is in Portugal compared to in the UK.
I estimate my average monthly expenditure is going to be around £1100 a month for the foreseeable future, compared to an average of £1700 back in the UK, so that's a £600 saving per month, so I should be break even after 9 months at a conservative estimate, which is pretty good going if you ask me, as I'm not intending on going back to the UK!
However, the plan is to buy land, so that 9 month figure is possibly hypothetical, and when I do make the land purchase, which I'll call transition 2.0, my costs will skyrocket, but it will reduce my monthly outgoings even further, so I'll have to recalculate!
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Saving £600 per month sounds great! That's about 2 months rent for my apartment..
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Less than a month at mine which is why I'm also keen to get the feck out of the UK!
Yeah, I can totally understand that. I've never had any real thoughts about leaving Sweden, but it does sound tempting sometimes.
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Come to Canada! Actually, don't if you are looking to save money on rent. 🍁
That's about what I'm paying here in Portugal, about £300 a month, it's double that in the UK!
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I guess it comes down to how big the apartment is, the location etc. But it sure sounds a bit expensive in the UK.
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Life is expensive generally, so savings will be welcome. You can buy more !BEER then. You need to do a checklist of things people need to know before they go to Portugal as you seem to have been caught out by a few.
Yes, I was in something of a rush to get here, not too bad though!
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Moving to another country is good experience. We have moved from Ukraine to Slovakia.
What?!
And you have to do this prior to driving in Portugal, online? Farce!
You can - there are also little lay buys shortly after the borders where you can register your card at a machine, but the only directions are signs - they don't look very formal or compulsory, a lot of people get caught out by it apparently.
I've now registered online. I wouldn't have known were it not for a chance conversation a couple of days ago.
It's really fucking dumb.
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You're supposed to if you want to drive on the motorways, but there's no clear indication anywhere!
Sounds like a tourist tax to me :)
What kind of stuff did you have to do to get a visa sorted to stay in portugal?
Nothing to get in here, I've got three months as a tourist, but for a longer stay I've had to get my NIF number (tax number) and the next stage is proof of residency - which I understand involves a trip to the local then state town halls with proof of my address - which is basically going to be my landlady coming with me to say I live with her!
If you rent a regular flat you can take your contract as proof of address, but to get a contract you need a NIF number (for which you need a passport and proof of UK address.
It's all a bit of a mission!
And I think the first drafts last for six months, then after six months you can apply for a more permanent residency certificate which is six years.
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Very admirable limitation of the beer budget too as I know you envisioned 1/3, 1/3, 1/3 ratio between that, travel costs and House Rental. ;)
It's been great so far, not too bad financially.
Beer is pretty cheap here, and wine too - I mean you can get a pretty decent bottle for 3 EU!
Great to keep a track of the expenditures. You must have one killer spreadsheet! Hopefully you won't run up too many unforseen expenditures but there is always something. Sucks about the Portugal tolls catching up with you but at least you know now and that's a one off expense.
Fingers crossed it all works out, sounds like you're on it!
At least they don't increase the longer you leave them like they do in the UK! That's something.
I think I'll be OK financially, but it will be touch and go trying to buy land with just my savings - I'm now thinking it'll be a lot easier to just sell the house, pay the mortgage off, buy a PROPER piece of land and but quite a lot of money in the bank which I can then use to build with.
We'll see!
Also, from what I've heard crypto taxation should be more favorable in Portugal than anywhere in Europe. Have you looked into that in detail? With the next bull market top coming up next year this could be very significant.
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I have heard the same about Portugal yes, let's just say I'm holding off cashing anything out until I've done a bit more research!
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