Decision Made - Planning to Move to Spain

Hello Everyone,

i am sure that you are all fed up of people asking for advice on moving to Spain and thinking why do  I need advice if the decision is made!  Well my answer to that would be that all personal circumstances are different.  There is only myself and wife, I am 51 and my wife 49, our children are grown up so no ties and simply looking for a better quality of life than South Yorkshire.  I have a monthly pension of £1400 and have enough savings to either buy up to £100k or clearly rent a place. 

A question for someone that has been in Spain for a while- would you buy or long term rent?

Also could a sensible retired couple live on £1400 per month inclusive of normal bills?

we are looking at being close to an airport (within 1 hour drive) ideally Alicante. With some expat community, on an urbanisation with cafe,s etc.

Any help advice, information positive or negative would be greatly appreciated.

Jim

HI and welcome.  I am further down the coast in Almeria and still working, so I can only give you an opinion from my point of view.   If I were starting from scratch in Spain again - I would look at doing maybe a year of rental before committing to buying. This would give you time to sample the life style and get an idea of costs.   It also gives you time to look around, and looking at properties is a great way to get to know a region.  There are lots of tempting bargains, but I would take my time.   I would still buy in the end though, but I am pretty committed to Spain.  

As to money - people seem to live on small amounts, and only you know (or will know) if that will be enough for you.

Great plan so good luck!! 

Rent first and try different places you have a huge choice within an hour of Alicante airport

£1400 per month tight but should be Ok depening on what you pay for rent. Utility bills are similar to UK, council tax, urbanisation community fees are low

Car insurance similar to UK, car purchases vary - you will need an NIE before you can buy etc

Other costs usch as food are lower and you really can get bargains

Health care will be an issue as you wil not qualify in Spain or for the S1 from UK

Income tax - you really need to go and sit with a Spanish fiscal expert ASAP. Lots of people on here can help but as you say each case is different

Resaerch, research, research

Once you are all settled and over the research, red tape etc it is a great place to live

Good luck

Thanks for a swift response and sound advice. Of course you are right about rental first but don't want to miss out on a cheap purchase ( for the right property) but we,ll see.

after a hectic working life, I just want to chill, enjoy and no stress in life!

Jim

"Chill, enjoy and no stress in life"

so, why are you retiring to Spain, then?

 Better to spend less than 183 days in Spain, just have long holidays, with none of the bother of owning , maintaining a property, taxes etc.

THEN you might have a more enjoyable and less stressful( never stress FREE) life.

So you think spending 6 months away from the stress of maintaining a property, paying council tax, road tax, and all the hassle in the UK the best way forward!  My idea of stress free is not to work have everything paid, relax in a decent climate, no ties in the UK if that means going through proper procedures to do that then so be it. I presume there are professionals that can assist with all the legal stuff and when completed there will be no stress.

Yes, professionals Can assist with all the legal stuff, in theory, but there is so much conflicting advice, personallyI don't know who to trust. If you think that there will be no stress, I think you are being naive! If you think all the hassle in the UK is bad, then you don 't know much about Spain! Just look at all the forums, of which there are many, to sample some experiences and opinions, starting perhaps with the EOS blog  on whether retiring to Spain is the best option.

Even though people go by the rules, go to properly qualified solicitors, accountants etc, quite a few still have problems, often with no redress other than to go through the courts, involving great expense with no guarantee of winning, and if they do often don't receive their money back.

I just think that at least if you spend less than 183 days in a Spain, you won't get embroiled in the Spanish tax system and all that involves, income tax, cgt, inheritance tax etc.

Some do sail through everything and don 't come across major problems, but don 't make the mistake of thinking that it will be stress free!

Do read some of the blogs on here to get some idea of what Camposol is talking about. Spain is certainly not stress free, whatever anyone says to the contrary. We do not live in Spain, having made the decision not to some years ago, but we had already bought our apartment by then! Our advice would be to rent at first. Rentals are cheap and plentiful at the moment and then buy once you have decided on an area and whether Spain is for you. As you rightly said all circumstances are different.

£1400  is more than adequate to live on but may be tight if including rental costs. Could you not let your house in the UK as that should more than cover the cost?

 An income of 1,400 euros is more than what a lot live on, and ample for a couple living modestly.

Do you think you would find enough to fill your time, being relatively young to retire?

 The novelty of not going to work soon wears off!

believe it or not,I am not saying don't live in Spain, just that it is not the place some make it out to be, it is not like being on holiday full time, and I wonder how much research you've done into the nitty gritty of moving here.

I totally understand that life in General has stresses, for me it is about minimising the stress and I firmly believe that UK has higher stress levels than retiring to Spain will bring, whatever hurdles there are. The point of rental before purchase is a valid one and probably one I will follow. For me area is not an issue albeit within 1 hour of an airport.  For me it will be all or nothing - selling up all in UK for a permanent retirement is probably the better option rather than renting our property in UK.

Like the majority of working class people, I have worked since I left school. I am fortunate to have been in a profession that has given me a life pension of £1400 until I am 55 and then increase for the rest of my life. I have capital to buy a property and savings. I simply want to enjoy my life where there is very little for me to do, because in the UK I feel that I have to go out and work. You are of course right that boredom may be difficult but meeting and socialising with people in a very different environment may be the answer to that boredom.

Don't buy a property rent in different areas before you commit to buying I wish I had done this and so do many others on this form living in Spain is certainly not stress free there are far to many people watching place in the sun and actually believe in what they are watching on tv .

If you live in Spain for more than 183 days in any 12 month period you will automatically become a Spanish resident if you are not working in Spain and paying N.I you and your wife will have to take out a private medical insurance you will have to pay tax on your £1400 pension if you intend to rent your property out in the Uk then the income from it is taxable in Spain I could go on and on about stress free Spain good luck.

Some good advice on here by people who know that living in Spain is not an easy option for so many reasons. One of the principal difficulties is there are so many people selling you ideas, property, you name it. Most of whom you cannot trust. Even professional advice is suspect. Mostly people are living from each other and emptying your bank account seems their principal aim.

My best advice is move but don't burn your UK bridges and rent for 6-12 months. Do nothing, live from your income and don't trust anyone with your money, soak up everything, make your own judgements of places and people. If you still want to live in Spain after that then trust the judgements you have made.

Believe me Spain will look a very different place after that period of time.

Actually, following the emergence of "convenio especial," gradually, coming to all regions the OP will only have to have a year of private insurance, as they will then be able to pay in approx 60 euros each to the Spanish health service, and receive the same care as any  Spanish national, until Receiving the a State pension when it will be free apart from prescriptions.

Just to clarify, you will be regarded as a resident of Spain after 90 days, whether or not you sign on the EU foreign citizens register

 You will become tax resident after 183 days.

Tax is a fast changing subject, new reforms this year which affect government pensions.

you need to thoroughly research this aspect of your move. It has far reaching implications.

that is why I wouldn't 'to advise anyone to be tax resident here, unless they have modest pensions and few assets.

One key area is health care

You will not be entiltled to health care in Spain other than emergency care through EHIC.

To obtain cover on the Spanish NHS you need to pay into the Spanish system or get the UK to pay via the S1 which is for UK pensioners and those paying into the UK system like those who work in UK and have family / dependants in spain or those on a secondment from a UK company working in Spain (previously E121, E109 & E106)

Early retirees do not qualify for S1 so you will probably have to budget for private health care

Your post obviously crossed with mine.

He only has to get private cover for 1 year.

his income is sufficient for payments into the convenio especial