There are many people that pick Spain as their go to place for holidays and finally to retire to. With places like Costa del Sol, Costa Brava, Costa Blanca, Canary Islands and Balearic Islands being the most popular.
Why is that? Well it is simple, great climate is probably number one. Affordable homes by the sea, low living cost, entitlement to state healthcare for some (only for pensioners).
However even with all these reasons actually packing up and moving can be a daunting task. So here are a few tips to help you make this exciting time a little less stressful.
If you are from the UK you can have your UK pension transferred to your Spanish bank account. If you prefer to be in control of the transfer rate from Sterling to Euro then use a currency transfer specialist so you can pick the best rate. If you need help with this we are in contact with companies that offer the best rates so get in touch if you want us to recommend someone. If you have more than just a state pension (work pension plan or other investments) it is advisable to speak to a financial adviser beforehand to work out what your most economical option is.
As stated living costs can be lower but obviously not if you go eating at the most expensive restaurants every day. You will need to plan carefully. It would be beneficial to speak the language for this as when you find out where the locals go you will find the cheapest places. Also the supermarket brand items are a really great price, also take advantage of buying food and clothes from the local market. You will probably find that electricity and water work out around the same but remember air conditioning will bump up your electric bill. Maybe you can buy a fan to save some money there. Council tax will be a big saving to you if you are coming from the UK. Spain call it IBI and on average it will be about a quarter of what you would pay in the UK. Do also take into account if you live in a community that there will be a monthly community fee that varies from place to place. Depending how much facilities the place has that needs taking care off like gardens, swimming pools and other facilities. If you don´t want to bring your car you will be happy to know the public transport is cheap, you will find it very useful if you want to take a bus to the local shopping centre.
If you are moving to the Marbella area and use us as your estate agent we don´t just make a sale and leave you stranded. We can help you find a good lawyer, get your water and electric set up. Recommend where to buy furniture, plumbers, builders, electricians or whatever else you need. We want your move to be as comfortable and stress free as possible. If you are buying in another area then check with the estate agents what they are happy to help you with so you can work with someone you can rely on if you need help, either during the buying process or in the future if you get stuck.
If you are wanting to get stuck in to the culture but feeling a little home sick then along the coast you will find many people from your homeland. There will also be many bars and restaurants that are catered for expats so you can have a little sense of home while you are trying to fit in. Some people prefer to stick to the Spanish culture and some prefer to stick with what they know, the benefit is you can pick to indulge yourself in the Spanish culture as little or as much as possible. Since these areas are full of international expats some people don´t even get involved in the Spanish culture and feel more comfortable sticking with the people from their own homeland. The great thing is that the choice is completely up to you.
Spain is also one of the healthiest places in the world to live with one of the highest life expectancies. This is due to the great climate, good healthcare, laid back lifestyle and diet. Also with the good weather you find yourself outdoors more, walking, swimming, playing golf or other sports so you keep yourself in good shape.
It is a good idea to make a point of knowing how to contact emergency services when you get here including where the local hospital is, police station and town hall. Get to know your neighbors too they may be able to give you some great advice about settling in.
Don´t forget to get internet and a mobile phone so you can keep in touch with your friends and family back home.
It is advisable to be in touch with a lawyer in Spain that is familiar with Spanish law and how things work here. That way they can advise you on inheritance tax, if you should write up a new will for your assets in Spain etc. We can always recommend a good lawyer that can speak your own language too if needed. Also you can use a lawyer to help you obtain and NIE (identification number) if needed. You will need this to buy a property in Spain and for a number of other things.
If you are planning to move to Spain permanently then you will need to become a tax resident here and pay your taxes here. If you are unsure about anything like this or what you need to do then you should talk to a financial advisor who can help you figure out all your taxes etc. If you plan to rent out your property to make extra money then you will also have to pay income tax, if you don´t and you get found out then you will end up in serious trouble. You can also speak to a financial advisor in your home country too that specializes in helping expats when they leave so they can give you advice too.
Ask your town hall where you move to for a pensioners card (tarjeta de jubilado/ tarjeta de pensionista) this gets you certain discounts and other benefits. You should also register with the town hall in the area you are moving to by filling out a padron document. It is very straight forward and you will just need certain documents like ID, something showing your new address, a utility bill and the usual things like that.
Other things not to forget is home and life insurance. Also remember your pets passport, any other documents for them and make sure that they have an ID chip before you move.
It does sound like a lot of work and maybe scary but with careful planning and organisation you can make your move seem easy and stress free. Register on forums to talk to people who have been through similar and they can adivise you also. Plus when you are living a beautiful life in the sunshine you will forget all about the move and be so happy you did it.
I hope you liked this post and be sure to keep up to date with our blog for all the latest news. To book an appointment or for more information on our properties contact us now.
