Rotor

Many of us own in Spain and there must be many potential ex pats wanting to buy in Spain but Brexit has no doubt changed your plans ? owners , if you could turn back the clock would you still go for it ? rent and wait? forget it all together ?
I already own in Spain but if I was new to the idea of living in Spain / the EU then I would rent and wait ,Re Brexit , I dont think anything will happen very quickly but when it does it could be literally life changing for some.

Kenwoodlad

We bought in 2012. The plan was to move into the house full time when we retired last October. We also planned to do extensive renovations to the house before we moved. Since Brexit, we have shelved all plans until there is some definite resolution to the whole mess. We're reluctant to give up everything in the UK and spend a lot of money on a house we may never be allowed to live in as non-EU citizens. Probably an unlikely outcome but we're not prepared to risk it. For now, the house in Spain remains a holiday home. Had we not yet bought a property, in light of Brexit we would be waiting to find out what happens before making that sort of commitment.

Rotor

Wise move I think , I`d hang onto your UK property as long as possible ie rent it if you do move over there.

bobd22

I am in similar situation although bought earlier. I agree with you fully. We bought on the same basis holiday home to retire to a little later. First thing that went against us pound collapse 2008 . Then just before I retired they stopped allowing S1 for those under state pension age for first 2 years 18 months based on NI contributions. That had been our plan move full time 18 months before wife reached state retirement age of 60. Then we could have continued S1 as she would be pensionable. That of course was double whammy as the then changed her pension age to 66. So we were delaying untill I'm pension age which is 2 years away. Latest is of course Brexit and all its uncertainty, if they stop free health care at state pension age then we are finished. Paying out for health care for 2 and any prescription charges etc would in my view negate why we bought to make pension go a bit further and better weather. No good having great weather countryside etc if you are skimping to get by. What was it they said you must plan for retirement😥 how exactly when the goal posts are ever shifting. Luckily we retain a bought and paid for property in UK.

Kenwoodlad

Same for us. If Brexit ends the reciprocal health care agreement, there's no way we can afford private cover.

Rotor

You may see a rush to buy in Gibraltar

bobd22

I think for many property costs/rental would be prohibitive and you still need to use an S1 would that still stand? Who knows it's a mess and worrying. Many of us that have made plans to retire are 60+ obviously health care for quite a few will become necessity in the not far distant future. Even if Spain continued with the scheme for 65 euros each, that is 130 euros less per month in the pocket for a couple, plus you must pay full cost of any prescription. That could soon mount up one serious illness say cancer or serious heart condition and one could be well and truly up the smelly creek without a paddle. Very uncertain times. Ok 5 years legal residency becomes permanent but without free health care for many that is useless. It may well help those from EU living in the EU as health care is residency based ?

Bridie55

Renting is the best option.in UK and Spain

not2old

If you sold today would you be in a 'loss position'?

If so, would it still be worth 'cutting your losses' & be done with it, guessing the future prices will not go back to where they were when you bought?

On the basis that you reside domicile in the UK, then by keeping hold of the asset in Spain would keep on costing you money for taxes, maintenance, upkeep etc year over year?

Rotor

I bought around 15 years ago so I`m lucky , wouldn't sell today if it was only for current market value , I`ll just use the place for long holidays when I retire , it`s not as if none EU citizens aren't allowed into Spain , an American friend of mine has no issues, visits when he wants and stays as long as he wants ,guess I`ll have to ask him how he goes about that.

not2old

on that point, why is that - surely every British person from early childhood is made to believe 'home is their castle to own'

Outside of being a social tenant/ council house tenant, why rent in the UK when one could be at the mercy of scrupulous landlords?

Maybe, just maybe it's an age thing or time of life change being a factor?

As for having a second home/holiday home for retirement in the 'sun & sand', I agree renting is the way to go because of flexibility, if you own 'what if's' that can come about from the death of a spouse, economic downturn, the change of government or policy, political issues, cancelled reciprocal agreements (Brexit & healthcare) freedom of movement etc

Rotor

I can understand that view with Spain and Brexit but its better to own in the UK , why pay rent ?, pay a mortgage and one day it will be yours .

not2old

Fair enough, good point.

On non-EU citizens from visa free countries spending time in Spain or any other EU country with or without Brexit, the only difference post Brexit is will Spain impose rules for Brits same as they do for other non-EU citizens that want to long stay visits or reside.

One rule for anyone not in an EU country is my guess. Brits may lose their 'freedom of movement' - it's a wait & see what Teresa May can 'deal the deal' acceptable to the remaining EU controlling powers (of Germany & France)

It may just take a couple more years before it's all flushed out so that the common folk will know 'what's-what'

Rotor

Yep , I agree , I think it will take a couple of years after article 50 is triggered for all to become clear .

Rosemary

Totally agree, we preferred to buy rather than rent and I now live in the house that I own outright, no mortgage, no rent so more money to enjoy the nicer things in life.

Rosemary