I want to retire to spain when i am older, is this recommended or are there too many pitfalls, i am 48 now?

Question

I want to retire to spain when i am older, is this recommended or are there too many pitfalls, i am 48 now?

Answer 1

If you have paid into a pension here it can be transferred, but if you buy property it is complicated when you try to sell it, you have to pay taxes on the sale price, its like council tax for all the years you owned it.

Answer 2

I sell property in the Costa Blanca, but if I were you before you buy and commit yourself to an area that you have only visited a couple of times, spend as much time as you can now and get to know different areas. If you have already decided on an area then rent a property there long term before you buy as it may be hard to sell if once acclimatised you don't like the place you've chosen to live.

Most pitfalls have been covered by previous answers but just take it all with a pinch of salt as things here change almost daily!!

You do not need a residencia card any more (someone here said you did) but this was abolished recently! Take your time and if you don't have patience now you had better acquire it before you get here. But then again you did say you would be retiring here so you will have plenty of time on your hands anyway.

I have lived here 16 years and alot has changed since I came in 1991, too many Brits if you ask me.

Here are a few must dos:

Learn Spanish if you can, you won't need to pay an interpreter for dragging you to the docs etc and charging you around 30E for the privilege

Don't listen to too many expats whilst here when in bars etc, most of them have been here only a short time and are not well informed. They listen to some old codger in a bar and have got their info that way. Be shrewd and listen lightly.

Make sure your pension is up to date and tell the Pension Dept you are emigrating.

Don't buy property until you've spent at least a year in the area you think you may like, houses are hard to sell now whatever people say in the UK

Last of all look forward to your new adventure with a very open mind, a happy heart and a smile for the future in this lovely country.

Good luck.

If you need more advice email me, I'd be happy to help.

Answer 3

I moved to Spain from the U.K. 3 years ago.  From choice I would not move back to the U.K. but there are a lot of things to think about, such as health care.  Although the health care here is extremely good, unless you speak Spanish you will need to take an interpretor with you to the doctors, as most of the doctors under the Spanish health care system do not speak English.  You can take out private medical insurance (there are lots of them here), they are much cheaper than the U.K.  and you have a choice of doctors who speak English.  The bureaucracy here is enough to drive you to distraction.  You will definitely need to learn the 'waiting game' as nothing is done in a hurry.  (Which in my opinion isn't necessarily a bad thing.)  I can tell you that everything here isn't 'rosy' and you need to adapt to the Spanish way of life.  As long as you do your homework, do some serious reading, make up your mind what it is you want from your retirement in a new country, I would personally say go for it.  If you want to email me with any more questions I would be more than happy to help in any way I can.   Best of luck  in your new venture.

Answer 4

My ex' in laws did it, and if that pair of retards can manage it, anyone can.

The basics are, be carefull, dont take full nationality untill you really have to, get a TRUSTED person with fluent Spanish and English to help you when you buy property, and learn Spanish... You'll be fine !

I'm going when I'm 50 come h**l or high water. I'll be moving near Mojacar, hopefully on the playa, but within sight of the Med at any rate. I will spend my last years in the sun, loving it and having a GREAT time !

Answer 5

Main pitfall is 50% of brits are retiring there and pushing prices way above natural level, thus angering the locals.

( bit like brits intolerance to Asians !)

Answer 6

Before you retire to Spain visit as often as you can.

Look at different locations and make sure that your chosen location meets your requirements.

Ask yourself

1. "How close do I need to be from the nearest hospital, doctors or airport and why?"

2.Weigh up the pros's and cons of living on the coast or inland, because there are many

3.Will my income cover my expenses and what will they be?

Once you have chosen your location and worked out your finances the next step will be your accommodation.

I would strongly recommend renting a place first ( provided you are buying ) this way you will get a true feel for the area because once you have committed yourself to buying a property the chances of selling it on quickly will probably be 0%.

Be prudent when making your decision.

Look at your budget and do not go over it under any circumstances no matter how much you like the property, or what the agent may say about it as this may put a strain on you from day 1

Don't buy a property with more bedrooms than you need because of family or friends visiting, remember you have to clean it and you will be paying for the extra m2.

To most people a finca or villa sounds idyllic but consider the terrain surrounding it, can you manage all that gardening?. Remember you are retiring. Look at ease of access and parking.

If the property is on two levels will you always be able to manage the stairs. Maybe all on one level would be better.

Retirement complexes are springing up now where you have the facilities of on site doctors, shopping, librarys and social clubs, but beware many are a bit isolated and you will ned a taxi or car to get to the nearest large supermarket or bank.

Buying a property in Spain is totally different than buying in the UK

You have to add on, at the moment between 11-12% for legal fees etc.

This site will guide you to most legalities you will need

http://www.spainlawyer.com

Just click on Spain

If at all possible choose an estate agent that has been recommended to you, same goes for lawyers. An estate agent may recommend one that has a good reputation and that they deal with regularly but some may be getting paid for this.

This newspaper covers the Costa Del Sol but there will be others in different areas that you can freely subscribe to.

http://www.surinenglish.com

In it you will find day to day articles of living in Spain,property to rent or buy and much more.

This second link has a good  forum you can join where you can learn from other people's experiences

http://www.expatica.com

Finally this last link has a fully comprehensive check list of what to do before leaving the UK and then ariving in Spain. Just go to the left of the page and click on check list

http://www.countrywiseestates.com

The site is experiencing some technical difficulties at the moment but this section is ok.

Good luck on your future retirement

If you need any more information just email me

Answer 7

My Daughter moved there last year with her two children and she loves it, its a lot easier than you think. go and enjoy your self you only live once and if you don't like it you can always come back to cold Britain.

Lets face whats left in this country, and the government don't give two figs about us anymore.

There's no great in great Britain anymore, at least the Spanish Royalty work for a living, not feed of it's people like ours do.

go and have fun BON VOYAGE

Answer 8

you go for it lass, good luck.

Answer 9

No probs but if you want a spanish pension you have to pay in for 15 years!!   Dont be put off by scare stories just go and enjoy! its a much better life and all the red tape soon becomes easy at a relaxed pace!!!

Answer 10

Retiring to Spain "almost as perfect an environment as it is possible to obtain" acknowledges the World Health Organisation. It is not surprising that many people consider a permanent relocation to Spain, especially for retirement. And while it feels like a very big decision, if you explore the facts  you'll soon discover that for your health, wealth and lifestyle, moving to Spain actually makes perfect sense. Far from 'cutting yourself off from friends and family, you'll be giving them a very special place to visit, which will enrich their lives as well as your own.See http://www.spain4uk.co.uk/retiring_guide... for more details

Answer 11

Retiring to Spain can be a very positive thing to do, however it does of course have its pitfalls but with careful planning most of these can be negated and you will be able to enjoy a happy and healthy retirement in the sun.

Take a look at these articles on retiring to Spain, health  care for ex-pats etc. as they may be of some help to you.

The sooner your start the planing process and the more research you do the better, good luck!

Answer 12

Many points have already been covered so won't waste time, but also take advice on tax etc and inheritance tax is very different to the UK and yiour family could be landed with a large bill that has to be paid, and you can't sell the property to cover the debt.

Don't buy then move here, rent somewhere long term while you look and get a feel for the place, its so very different when the suns not out and the bars are closed as the tourists are all in their own counties....

Answer 13

So do I!

Assume the cost of living to be about 30% less than London.

(Rates especially)

You must learn Spanish before you go. O level is enough for starters. If you can read Harry Potter in Spanish, you should have a good level. (Note that 'varita is 'wand', not 'fishfinger').

Do not take your car south. They will charge you VAT on it!

(They call it re-registration charge!)

Make contact with all ex-pat websites, they are full of great advice.

The Spanish 'burrocracia' is complicated in that it is different from the English.

Much advice on moving to Spain is inaccurate and out of date.

I was  caught out on the car tax, and I checked with Spaniards.

When you get there, go to the town hall to get registered as soon as possible and get your 'residentia' ASAP

Make a Spanish will. (both of you).

Check the current NHS, pension and tax rules for emigrating to Spain before making any financial decisions.

Buy your new home through a Spanish Lawyer. One good tip is to get a Spanish mortgage for part of the value of your new home. You can be sure that you have good title. API estate agents are the real ones!

Holiday in the areas you are interested in.

Remember that green fields will be built on even if the are official green belt at the moment.

Make sure that you can walk to the shops. I had to get into the car to buy a bog roll once.

Do not move into an English ghetto; they are horrible.

Consider areas with additional languages. Basque is impossible; Gallego is reasonble but Catalan is tricky and difficult to write.

I could write a book on the subject but it would be out of date on the day of publishing.

P. S. Regarding health insurance, there is a good UK/Spain agreement and it works well. BUT When you go first, pretend to be on holiday until you have everything organised in Spain.

The Spanish national health workers are not very well informed on how the NHI system works in relation to UK immigrants.

Regarding local health insurance, I seem to recall that Sanitas is owned by BUPA.

Answer 14

i moved to Spain about 12 months ago loving it the health care is good although you might not qualify for the state. most doctors surguries have an english speaking doctor although theyre are exeptions. property can be lengthy to buy bacause of the lawers. and learn some spanish asit goes a long way and makes life easier although where i am a lot af Spaniards can speak a little English.

there are pitfalls but if your willing to work at it they can be over come.