Is retiring abroad still a popular option for people?

ratechaser

NoMore said:

ratechaser said:

As for what counts as the 'permanent' location for retirement, that's always going to be flexible. But I've previously mentioned how attractive the Portugal tax incentives on pensions are for ex-pats, so depending on what that looks like in 10 years, it could be a significant factor - liquidate our pensions tax free and then do some serious estate planning...

https://www.portugalresident.com/portugal-to-start-taxing-foreign-pensions-under-nhr/ 
The tax regime is slowly changing in portugal, might not have that long where its still tax advantageous

Booooooo! Although even 10% could be quite attractive on a big lump sum. Not a deal breaker either way...

scaredofdebt

I'm hoping to retire in a few years.  Possible plan is to buy 2 smallish apartments probably Spain/Greece for about £50k each and live in them 2-3 months a year each and move back to England during summer.

We would rent the apartments out when we weren't there, hopefully that would generate some income, not sure if enough to live on though, probably not, but maybe enough to only need a part-time job.

DairyQueen

scaredofdebt said:

I'm hoping to retire in a few years.  Possible plan is to buy 2 smallish apartments probably Spain/Greece for about £50k each and live in them 2-3 months a year each and move back to England during summer.

We would rent the apartments out when we weren't there, hopefully that would generate some income, not sure if enough to live on though, probably not, but maybe enough to only need a part-time job.

I spent 2 weeks each visit maintaining my home in France. That, plus other costs and the inefficient bureaucracy, deterred me from ever again buying a holiday home. We will be renting whenever we travel across the Channel and ditto within the UK.

AnotherJoe

DairyQueen said:

scaredofdebt said:

I'm hoping to retire in a few years.  Possible plan is to buy 2 smallish apartments probably Spain/Greece for about £50k each and live in them 2-3 months a year each and move back to England during summer.

We would rent the apartments out when we weren't there, hopefully that would generate some income, not sure if enough to live on though, probably not, but maybe enough to only need a part-time job.

I spent 2 weeks each visit maintaining my home in France. That, plus other costs and the inefficient bureaucracy, deterred me from ever again buying a holiday home. We will be renting whenever we travel across the Channel and ditto within the UK.

Yeh, its so cheap to rent the kind of place you could buy for £50k that the  point of buying escapes me, you'll probably spend more on maintenance, plus theres the hassle especially if you are moving around and so paying multiple third parties to manage maintain and maybe market them.

ukpoker

We live in Dublin and plan to retire in 2022. Our plan is to downsize our home and move to a cheaper part of Ireland freeing up some capital to invest in a winter home in Lanzarote. Two bed apartments out in Puerto Del Carmen can be found for around €150,000 or we may do long term rents for 6 months a year (Nov - Apr). Either way I can't wait

C_Mababejive

I think many people have a dream of either having a holiday home somewhere with maybe a plan to retire there, or to spend part of the time in another country. There is a good spread of tv programmes on the subject and it can seem alluring.  I have a relative who lived in Spain for many years but eventually came back to UK because they got fed up of it. The endless sun,which can seem appealing,can get wearing it seems.

The other thing of course is that you have to consider your residency and tax status. The UK tax regime is actually quite good compared to some EU countries i believe. Ive only really looked at spain. Of course you can do six months in spain and not be classed as tax resident.

Bargain loving Brits in the sun seems fine but im not a big drinker so sitting in the sun drinking beer all day doesnt appeal.

Touring could work for a few months of the year. We are so lucky to have easy connections to France and Spain. It would be better to have a vehicle thats economical on fuel of course and most vans are not that good.

Countries like France and Spain are so big that it seems you can pick up a half decent property for a reasonable sum?

All in all i think that change is the important bit. i.e some time in another country then back to UK.

Thrugelmir

C_Mababejive said:

The endless sun,which can seem appealing,can get wearing it seems.

Denia in January was very pleasant. Though hardly sunny.  Storms , heavy rain and hail storms made it little different to home on occassions. €20 a night for B&B and a £34 return flight from Bristol made it a cheap break. Generally the place was closed for winter. Not somewhere I could spend the entire winter months. Ex-pats I met. Seemed intent on causing themselves liver damage. Sign of boredom I suspect. No shortage of property to buy and plenty of building work in progress. Wouldn't buy as an investment nor with any plan to return home. 

Crabby

The £'s taken a beating against the euro again today, I might have to come home early.

nigelbb

C_Mababejive said:

Countries like France and Spain are so big that it seems you can pick up a half decent property for a reasonable sum?

All in all i think that change is the important bit. i.e some time in another country then back to UK.

We have just bought a nice fully renovated 2-bed cottage in Brittany for just under €50K (£44K) including all fees & taxes. The housing market is totally different & there are many properties at prices that can only be dreamed of in most of the UK. Our plan is to take advantage of the last knockings of EU membership by taking up residence later this year before the end of the transition period 31st December 2020 & benefiting from the lifetime guarantees of the Withdrawal Agreement on residence, pensions, healthcare etc

royalmike

nigelbb said:

C_Mababejive said:

Countries like France and Spain are so big that it seems you can pick up a half decent property for a reasonable sum?

All in all i think that change is the important bit. i.e some time in another country then back to UK.

We have just bought a nice fully renovated 2-bed cottage in Brittany for just under €50K (£44K) including all fees & taxes. The housing market is totally different & there are many properties at prices that can only be dreamed of in most of the UK. Our plan is to take advantage of the last knockings of EU membership by taking up residence later this year before the end of the transition period 31st December 2020 & benefiting from the lifetime guarantees of the Withdrawal Agreement on residence, pensions, healthcare etc

Nice enjoy