Sharon Wright

Hi everyone, I have just joined in the hope of getting some feedback regarding the cost of living in Portugal as having researched for a while on different web sites, forums I am getting mixed answers.

My husband and myself, both in our 50's are hoping to move to the Silver coast (Caldas da Rainha) area in the next 12 - 18 months but I am holding back as I need confidence that our money will last us until our pensions kick in.

Having visited Portugal many times I am comfortable with the cost of groceries, and how much our social life will cost us. I just need to understand total cost of household bills to include the usual things. Electric, internet, rates, water, mobile phones, etc. I have already researched Healthcare so do not need to include that in the overall figure.

Is it possible to give a % versus the UK i.e. 30% cheaper? I could then estimate based on our current spend.

Thanks you for your help

EMR

Internet, power,water more expensive than Uk, rates considerbly less as is eating out and basic food stuffs.
For us our time in PT costs at least 20% less than equivalent period in UK.
Have you looked at the non habitual residency scheme, could provide positive tax benefits if you inntend to live in Portugal.

Sharon Wright

EMR thank you for your swift response.

That matches some of the research I have already done. I knew about the non habitual residency but have not gone too deep into it yet. If I applied for this would I be able to work? The reason I ask is that I would like to do some either part time or seasonal work if I could get it which would be a bonus to our savings.

Red toms

Hi what is the non habitual residency scheme? I would like to find out more about it and what it means. Many thanks Louise

GeniB

check back through previous posts Red Toms you will find a lot on the subject.

Sharon Wright

Can anyone advise on the timescales involved in buying a property in Portugal. I have read a couple of posts suggesting it can take a long time if it is a Portuguese family owned house due to all parties having to sign the paperwork. Assuming this is not the case what is the usual timescale? We are coming over in the summer to view properties etc and make our final decision on whether we take this huge step. Should I sell my house first and spend money renting whilst waiting for a house purchase to go through or can they link together like they do in the UK?

mfesharne

If the estate agent has done his job properly & you have your funds in place then 4-6 weeks isn't impossible.

ouriquejan

We're hoping for 4 weeks, maximum.

The house we're buying is empty, the people buying our house are Portugese, no mortgages involved, should be a piece of cake.

or is that famous last words??

Sharon Wright

That's not too bad even if we do rent first then. Are house prices static at the moment or on the increase? Like I say it will be the summer when we make our decision and therefore more than likely another 3 - 6 months for the move.

ouriquejan

Not rising too much yet Sharon, but the decent houses are going, fast.

Just keep an eye on the local market, we've done that, via the agents websites.

Ukkram

I have really benefited with this regime with a 10 year exemption on PT tax.
I pay no tax at all in PT and since I have been registered for tax in PT, my home country cannot tax me due to the Double Tax Treaty even though I get my income from my home country.
If you need more info and an accountant to do it for you then PM me.

mfesharne

Sharon: One thing you do have to be careful of with prices is some agents will over inflate the house price for overseas buyers whilst other agents and often property finders will often have the same property listed at a lower price..... One example is one of my local agents here is listing a particular property at €25k more than it's listed with my neighbour who is a property finder. so do your research very carefully indeed.

some people will tell you to avoid property finders and only deal with agents but assuming you use a good lawyer (and you always should) there's nothing at all wrong with property finders and they'll very often save you a very significant amount of money.