I can offer you some insights from my personal experience. I made the leap, but I don't think I thought about it as much as you did before making the leap. I think my biggest concern at the time was if I could even land a job abroad which would pay me ok.

Now I could say that financially I am a lot better but it's only because I can take advantage of the foreign exchange and I plan to return to my home country eventually. If I plan to retire here, I would just be ok, surviving. But not rich as I could be if I go home.

Socially, I suffer. I thought with my liberal views on things when I was back home, I would relate more to people here. But I end up appreciating my eastern values more instead. The sense of community I had back then, is something I know is the price I pay by coming here.

In terms of mental health, it highly depends on what your stressors are. If it's genuinely coming from being too close to friends and family, physical distance does help. But if it's coming from yourself then it is only going to exacerbate. Mental healthcare has a long wait list so just bear that in mind.

In general and of course it's only because hindsight is 20/20, my home country isnt so bad after all. It was difficult but it wasnt underdeveloped, just developing. There are a lot more things I can appreciate about it, and having these black and white views on oh thats 1st world country or 3rd world country are quite dated and colonial, and it would give you a clearer view if you objectively analyse these countries on what sets them apart.

Best of luck.