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Old Oct 6th 2017, 12:47 pm   #16
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Default Re: we would like to retire to spain and live there

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Originally Posted by lyric030250 View Post
For some reason the forum has decided I have just joined which is just not true. I therefore cannot answer your PM Andre even thoug I have been made aware of it.
According to your profile, you joined on 4th August. If you had a previous username that you used, then as said above, please contact Site Admin (use the 'contact us' link on the bottom of each page) to merge the two accounts.

Thx.
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Old Oct 6th 2017, 1:29 pm   #17
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Default Re: we would like to retire to spain and live there

That's ok, I have received a few replies, but thank you for trying to help
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Old Oct 7th 2017, 3:30 am   #18
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Default Re: we would like to retire to spain and live there

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Welcome to BE.

1. Yes there is a financial requirement and the figure you have given seems to be the correct one, but each part of Spain is somewhat different in what it requires.

2. Yes.

£. Yes, however you will have to show you do have healthcare coverage, but, if you are of UK retirement age then getting an S1 form from the DWP, and remember to ensure that BOTH of you are on the form even if only one of you is on state pension as you will ten both be covered by the Spanish health system. If you are not of UK state pension age then you will need some health insurance BUPA and Sanitas have been mentioned as giving good coverage, and they are cheaper than in the UK.

Thees are however subject to what happens after Brexit, but, assuming you are registered as living in Spain before the deadline I really doubt it will make any difference.

Personally I would try renting for a while to ensure that you really like the place before committing to buying.
Hi....thank you for your response....we cant afford to rent longterm as we will only be living off our private pension and we have spent two weeks already in manilva and find it to be exactly the place we want to live...have you had bad experiences that prompt you to say rent first...we are both in our 50's and just want a quiet life....
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Old Oct 7th 2017, 8:07 am   #19
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Default Re: we would like to retire to spain and live there

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Originally Posted by Andre Poole View Post
Hi....thank you for your response....we cant afford to rent longterm as we will only be living off our private pension and we have spent two weeks already in manilva and find it to be exactly the place we want to live...have you had bad experiences that prompt you to say rent first...we are both in our 50's and just want a quiet life....
The main reason members of this forum advocate renting in the first instance is so that you don't burn any bridges in your euphoria about your new adventure.

Property in Spain once purchased is not so easy to sell, especially if you expect to get back the original purchase price, let alone the additional selling fees. It is not as straightforward as the UK property market.

As has been said already your UK house is a great asset and can command, usually, more in rental income than you will spend on rentals in Spain.

Two weeks is no time at all in assessing if either Spain or the area you have chosen is right for you. You need at least 6 months and preferably a year.

You need to see how living in the cold winter months will impact on your finances and also how some areas are like ghost towns in the off season.

We are not trying to dissuade you from coming, only trying to make you think about mitigating the risks if you decide, a year down the line, that Spanish life, or the area that you have chosen, is not right for you.

Good luck with your new adventure and remember the members on this and other forums are here to help you as we ourselves were helped when we made the move.

Last edited by stevesainty; Oct 7th 2017 at 8:09 am.
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Old Oct 7th 2017, 10:31 pm   #20
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Default Re: we would like to retire to spain and live there

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Originally Posted by Andre Poole View Post
Hi....thank you for your response....we cant afford to rent longterm as we will only be living off our private pension and we have spent two weeks already in manilva and find it to be exactly the place we want to live...have you had bad experiences that prompt you to say rent first...we are both in our 50's and just want a quiet life....
My favourite part of the world (La Duquesa and Sabinillas especially) and I will be coming "home" at the end of the year for mild winters and la Buena vida. I will join the chorus of others and say rent is a better option not least because of traps for the uninitiated (language, fee's, dodgy permits) but more so for the portability until you are absolutely sure where you want to live. Check out the real estate site idealista there are some nice places starting at 350 euros a month. Good luck...
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Old Oct 7th 2017, 11:20 pm   #21
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Default Re: we would like to retire to spain and live there

Someone mentioned a padron, what criteria do you need to obtain one of these please, apologies for jumping in on this thread but I saw it here.

Last edited by Rosemary; Oct 7th 2017 at 11:47 pm. Reason: changed word for OP
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Old Oct 7th 2017, 11:48 pm   #22
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Default Re: we would like to retire to spain and live there

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Someone mentioned a padron, what criteria do you need to obtain one of these please, apologies for jumping in on this thread but I saw it here.
Hi and a warm welcome to the Spanish forum on BE. Myself and Fred James are the moderators for the Spanish forums whilst BEVS moderates Europe. Moderators are there to ensure that the site runs smoothly within the rules of BE. This is so that members gain the information that they are looking for and find their experiences on the forums to be friendly and worthwhile.

Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.

Please let me know if you need any further help.

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Old Oct 8th 2017, 6:07 am   #23
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Default Re: we would like to retire to spain and live there

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Someone mentioned a padron, what criteria do you need to obtain one of these please, apologies for jumping in on this thread but I saw it here.
The "Padron" is like a register of people who live in the town. You need to be a Legal resident before you sign on the Padron. You are not forced to sign on and you don't particularly gain anything personally but the more people that are on the Padron the more funds the town/area gets from Government.
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Old Oct 8th 2017, 7:48 am   #24
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Default Re: we would like to retire to spain and live there

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Originally Posted by Andre Poole View Post
Hi....thank you for your response....we cant afford to rent longterm as we will only be living off our private pension and we have spent two weeks already in manilva and find it to be exactly the place we want to live...have you had bad experiences that prompt you to say rent first...we are both in our 50's and just want a quiet life....
I approached an prominent estate agent in Spain about purchasing a property and they wanted 5% commission from me as a buyer. Then there is 10% transfer tax plus legal fees giving a total of around 16% on the price of the home. On top of all that, they had inflated the sellers asking price of the home to grind out some profit from them. So, taking everything into account, if property prices don't go up substantially, I would be in the hole as soon as I moved in and it could be long time before I get my money back. Maybe never if there is a 'no deal' Brexit and many decide to sell.

I don't know if this is the norm in Spain but all of this looks excessive to me. I have no experience of property purchase and may this was a rouge agent. Perhaps someone could advise on what is a reasonable amount to pay for a purchase. I know agents fees are not regulated so is it a case of shop around?

Last edited by Johnboyuk; Oct 8th 2017 at 7:52 am.
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Old Oct 8th 2017, 8:41 am   #25
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Default Re: we would like to retire to spain and live there

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Originally Posted by Johnboyuk View Post
I approached an prominent estate agent in Spain about purchasing a property and they wanted 5% commission from me as a buyer. Then there is 10% transfer tax plus legal fees giving a total of around 16% on the price of the home. On top of all that, they had inflated the sellers asking price of the home to grind out some profit from them. So, taking everything into account, if property prices don't go up substantially, I would be in the hole as soon as I moved in and it could be long time before I get my money back. Maybe never if there is a 'no deal' Brexit and many decide to sell.

I don't know if this is the norm in Spain but all of this looks excessive to me. I have no experience of property purchase and may this was a rouge agent. Perhaps someone could advise on what is a reasonable amount to pay for a purchase. I know agents fees are not regulated so is it a case of shop around?
Probably a rogue agent ! The seller pays the commission ! Normally when the sale is agreed the purchaser pays a percentage of the sale value as a deposit and a private agreement is signed. Normally the agent expects their commission at this point . So it may appear that the purchaser is paying the agent .The final sale is formalised later in front of a Notary.

When buying as a "rule of thumb" expect to add between 12% & 15 % to the stated purchase value to cover taxes ( the biggest chunk ), Notary, Gestor and other fees.
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