Living abroad tips and hints for money savers

Mint1955

As I have 8 weeks until we go for three months from Sept I am going to work on rooms as follows
Week 1 Ensuite and our bedroom
Week 2 outside clearing up plus get front and back doors and garage painted
Week 3 2nd bedroom which is a junk room right now!!!
Week 3 bathroom and sons bedroom
Week 4 lounge and dining room
Week 5 stairs/halls laundry room and cloakroom
Week 6 kitchen
Week 7 garage
Week 8 loft

This will mean if sell house date is earlier then I will be ahead.

Each week I will eBay anything worth doing, plus start scanning photos onto computer from huge box I don't want to take with me.

I will also start reading actual books I have on the shelf mainly autobiographies I asked for so I don't have to take them with me.

When actual post comes through the door I will make a list for when the time comes to contact everyone and delete accounts for publications for anything not important and will no longer be needed.

Now I am accountable even if no one reads this.....

gallygirl

Exciting times Mint and I will read with interest. Have you thought about keeping your house and renting it out instead? That way if you do decide to come back to the UK you will have somewhere to return to and won't be priced out of the market.

Mint1955

Hi Gallygirl,
Thank you for reading. We have done the figures and as we will not get pensions for a while we need the capitol to bank so that we can live from interest with a possible dip into the lump sum nearer pension time should the worse case of bad rates and massive rise in cost of living happen.

Ideally we would have downsized kept a small place etc but the numbers don't work.

X

Arkers

Good Luck Mint:T, I don't know a lot about North Cyprus. My dad was posted to Akrotiri, and one of the main things I remember was that it was "hot" dam "hot," but then obviously you know that. We have a place in Spain which TBH does not get used much at the moment, but when the time is right that will change. We have had the place since 2001, and seen the ups and downs which have occurred. One thing I would say (at the wish of not wanting to scaremonger), is try and keep something/anything as a bolt hole in the UK, even if this is just a small flat in a less expensive area. Time and time again we watched as people put all their eggs in one basket and it meant that they had limited options when they wanted to return to blighty (mainly due to the downturn). One thing we learned due to witnessing the distress of others is that things change and keeping all possible options open is what we will be doing.


If you have crunched the numbers and it is not an option, then ignore the above and go for it!! I look forward to reading about your progress.


GG - read your diary all the time. I know that you are chomping at the bit:rotfl:. When will all your planning come to fruition?

donny-gal

May I also agree with Arkers suggestion. I have a place in Spain as a second home, and see so many around me as they get older not coping with the heat, the language restrictions when ill, and just wanting to be back near the family especially as it grows. You could rent out a flat, which would give you a better return than interest I feel sure, especially at current rates. DG

Mint1955

I truly understand the above suggestions. I will keep number crunching with this in mind.

Yes North Cyprus is very hot in the main season and it can get quite damp over the winter but we have been in all seasons and are prepared for that.

X

seven-day-weekend

I can only agree with others about keeping somewhere in the UK, even if only a small flat or mobile home. I too have seen people put all their money into the foreign country and live on interest/capital like you are intending. If one partner gets frail, or dies, the other one often has no choice but to stay, even if they might not want to stay there alone, as they can't sell their place.

When we wished to return, after eight years in Spain, I'm so glad that we had a house to come back to. We could not have afforded a house with the money we got from our house ( even though we managed to sell it, many can't) and would have had to have a flat or mobile home.

Having said all that, do enjoy your time in Cyprus and make the most of it for as long as you stay.

donny-gal

The other factor is if one of you are left alone, have you checked out inheritance laws/taxes
DG

Mint1955

Wills are drawn up as per the laws there and either of us will be fine as far as inheritance is concerned. We also have our uk wills.

gallygirl

Arkers wrote: »

GG - read your diary all the time. I know that you are chomping at the bit:rotfl:. When will all your planning come to fruition?

15 months. Not that I'm counting..........