5 Costs to Factor in For Moving To the Philippines
The Philippines is one of the most affordable places to live in. The vast majority of people who move to the Philippines spend around $1200 per month on living expenses. That makes it an extremely attractive option for immigrants from all over the world.
Whilst living in the Philippines, or most of the countries within Southeast Asia, is affordable and easily doable on a single-income – there are still costs that you will need to factor in before you move there. Five of these costs are listed in more detail below, for your reference.
1. Flight Costs
Flying to the Philippines is affordable from most destinations around the world, particularly if you are flying from the United States. A non-stop flight from America to this Southeast Asian gem of a country takes around fifteen hours and will cost you around $800.
There are cheaper flights available if your pension is carefully budgeted and you're prepared to take a little longer to get to your destination. These cheaper tickets will set you back about $450.
2. Shipping Goods
Your costs don't end with just moving yourself to Southeast Asia – you also need to move your belongings once you've bought a house for sale in Cebu. You could consider buying new when you arrive, just keep in mind that you won't have all the same options there as you do in the United States.
Shipping your goods can cost anywhere from $1000 to $6 000, depending on the size of the container. The smartest decision to make would be to ship only the items that you will struggle to replace on that side of the world.
3. Vehicle Purchase
Buying a car in the Philippines is usually around the same amount of money as in the United States. However, if you intend to purchase a modern, newer car, then it will likely end up costing you a bit more than it would if you were back at home. You should expect to pay around $25 to $30 000 for a new, family-friendly car, and around $8 000 for a used one.
If you move to the Philippines for work, you'll be relieved to discover that their economy is a reasonably strong one. This means that you should be compensated quite well for your time and effort, which will allow you to cover necessary costs such as electricity, heating, and cooling. These utility costs will run you around $150 to $180 per month, on average.
All Filipino citizens have access to free public healthcare from a surprisingly wide range of excellent hospitals in the cities and larger towns. That means that if you are an ex-pat then you do not. You will need to factor in the cost of enrolling in PhilHealth, which is the national health coverage scheme of the Philippines.
This particular form of health insurance does not cover all medications and procedures, so you could also end up paying out of pocket for those. Or, you could choose to purchase private health insurance instead. PhilHealth costs are $350 a year and give you access to a decent selection of medical treatments and procedures.
Once you've factored in all of these costs, you will be better able to prepare for your big move to the Philippines to start the next chapter of your life.