Retiring to Spain
Hi, just joined this forum and me and my wife are looking at moving to Spain early next year, we will have lots of questions to ask and fingers crossed you will be able to help us.
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Re: Retiring to Spain
Welcome to the forum :thumbup:
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Re: Retiring to Spain
Originally Posted by Phil080
(Post 12651508)
Hi, just joined this forum and me and my wife are looking at moving to Spain early next year, we will have lots of questions to ask and fingers crossed you will be able to help us.
Renting or buying ? |
Re: Retiring to Spain
Originally Posted by tebo53
(Post 12651785)
welcome, and which area would you like to retire to?
Renting or buying ? |
Re: Retiring to Spain
We know you're renting (possibly buying later), but whether or which you are about to make one of the most important decisions of your life and those around you. If like most you haven't won the Lottery or correctly answered the penultimate question on Who Wants to be a Millionaire? There are some thoughts to make the whole process favourable.
1. Don't burn your boats. Keep your property in the UK and rent it out if you want to finance your reign in Spain. You should have plenty left to live on without affecting your life savings.Your retreat if necessary is open and friendly. 2. If you intend buying property even years later ensure you like the area in which the property is. If you wish to narrow it down to a particular district, then do so; you might even choose a particular road or even which side of the road. Rent there. Walk the road every day. Talk, listen, feel. Don't make a decision too quickly. Wait weeks. There are more points, but in importance they differ from person to person. Do it once, do it right! |
Re: Retiring to Spain
After a holiday in Almeria we fell in love with Andalucia and its people. We sold our house in Scotland ( had a bad experience renting it out as it was trashed , and then other tennents moved out owing a lot of rent ) so we came down here in 2008 spent two weeks looking at properties ( after a year of research and discusions, we made a database and had a tight schedule of meetings and viewings with lots of agents and private sellers) put in an offer and bought a property, and we have never regretted retiring here for one minute.
Pete |
Re: Retiring to Spain
Good for you Pete.
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Re: Retiring to Spain
Tax, Tax, Tax!
If you have any ISA assets and a decent income spain is a horrid, high tax country. Appalling! Personal allowance - negligible, IHT - Urgh, Capital Gains - Argh. Spend your time 50%/50% instead. It would cost us £40,000 a year to live in spain - forget it. Or rent and dont declare residency - unless the neighbours shop you. Actually the incompetence of AEAT means you run few risks. This is a high tax country. Portugal is a dream OTOH for expats. May Spain sometime see sense... |
Re: Retiring to Spain
Originally Posted by frigilianafreddy
(Post 12655920)
Tax, Tax, Tax!
If you have any ISA assets and a decent income spain is a horrid, high tax country. Appalling! Personal allowance - negligible, IHT - Urgh, Capital Gains - Argh. Spend your time 50%/50% instead. It would cost us £40,000 a year to live in spain - forget it. Or rent and dont declare residency - unless the neighbours shop you. Actually the incompetence of AEAT means you run few risks. This is a high tax country. Portugal is a dream OTOH for expats. May Spain sometime see sense... |
Re: Retiring to Spain
Not sure why you would think that you need £40k a year, unless you have a mega mansion and live a really lavish lifestyle. We have a very comfortable 2 bedroom/2 bathroom apartment on a secure residential complex, 15 minute walk from blue flag beaches, Marina and a further 20 minute walk from a lovely Spanish Coastal town. Does not cost us any more than €6,000 a year to cover our apartment costs. Obviously on top of that there are everyday costs, Groceries, Fuel for the car and then personal spending but we have a very enjoyable lifestyle. |
Re: Retiring to Spain
Similar here, housing and utilities cost us around €6500 PA with food and car and optional spending etc. on top.
€40k is patent nonsense and someone clearly has a major downer on Spain or is simply talking out of their derrier with nothing to back up their ridiculous claim. |
Re: Retiring to Spain
However, if someone were to gift me £40k a year I feel confident that I could spend it quite easily :thumbup: |
Re: Retiring to Spain
Originally Posted by Notdunroamin
(Post 12656362)
Similar here, housing and utilities cost us around €6500 PA with food and car and optional spending etc. on top.
€40k is patent nonsense and someone clearly has a major downer on Spain or is simply talking out of their derrier with nothing to back up their ridiculous claim. |
Re: Retiring to Spain
Hi there,
You mention about "Spend you time 50%/50% - and "rent and dont declare residency". How does this work if one buys a Static Caravan on a site and split their time between UK and their static Caravan in Spain? We are planning ahead now for our Retirement in 15 years time or so and seriously thinking of selling up our family home here in the UK - buying a Static Caravan in a Residential Park in the UK and the same in Spain. This will still be cheaper than owning a house in the UK - to have two seperate statics in either country. What are the legailities? Can you just do this? Any advice greatly appreciated. |
Re: Retiring to Spain
I imagine you are aware that we are leaving Europe and therefore will be non EU folk. This means we will no longer be free to move and live in Europe. At least not unless you have oodles of spare cash in which case I doubt you would want to live in a caravan
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