Live Your Dream

Retire to Paradise in Spain

Spain is the number one country where many people are buying a second home or retiring for cheaper living rates and expenses. A relaxed atmosphere, with a climate among the best in Europe, low property prices and a lower cost of living, it is easy to see why it is the most popular destination for retiring to Spain.

Spain has rapidly become the number one country in the world for people all across the globe seeking a retirement paradise or a fabulous, affordable, second home. While there are many reasons the numbers of people are migrating the most enticing is the weather, which is the best Europe has to offer. Another valid and substantial reason for the re-locating population is the favorable currency conversion, which lends ultimately to increased buying power. Couple these reasons with a relaxed comfortable atmosphere, fabulous local cuisine, a population of friendly locals, property prices that trend below that of other comparable climates, soon you truly appreciate change is good. This fact is especially true for pensioners and retired persons because on average alcohol and tobacco is at least 30% less than in the United Kingdom in comparison. 

Often buyers have a variety of reasons for buying a home in Spain. For example, many people buy a holiday home with an idea of living there permanently or semi-permanently after they retire. A second example might be to move and live in Spain and work, or the last example to maybe plan to relocate and retire in Spain. Each a genuine and realistic idealistic notion for many of us. It may also be important to you to buy a Spanish home or invest in real estate in hopes of profiting in the future. And, why not, land is a healthy investment and one that can be passed on to your children and grandchildren.

Here s a bit more incentive if you need an extra nudge in the Spanish direction, health care is affordable –much more so than in the United States and many other countries. Best of all, you have the remainder of Europe practically at your doorstep waiting to be explored. Yet, as with everything in life, proper planning and preparation is the key to a successful experience. This is true no matter what the task ahead but much more so when re-locating to a new country. Paramount Places has made an effort to assist you in your transition to Spanish living and residency by providing as much pertinent information as possible. Be certain to explore the remainder of our website to begin building your own future in the country of Spain.

 

 

Advantages and Disadvantages

There are both advantages and disadvantages to retiring in Spain…

Advantages

·                                 Great weather year round

·                                 English speaking communities

·                                 Stress free living and locals who enjoy welcoming newcomers to their unique culture

·                                 Increased buying power thanks to a favorable currency conversion from most countries.

·                                 Continue to receive your pension

·                                 Excellent medical coverage and health care costs are typically lower in Spain

·                                 Medical coverage is free to non-pensioners –something unique to Spain

·                                 Wide variety of public transportation systems

·                                 Local language is easy to learn

·                                 Some of the best wineries in the world are found in Spain

·                                 Scrumptious local cuisine

Disadvantages

·                                 Check about crime and burglary in the area.

·                                 Overcrowding in popular tourist areas

·                                 Traffic congestion

·                                 Pollution in many towns and cities

·                                 Possible unexpected renovation and restoration costs.

Exemptions on the Sale of Homes

·                                 Those over the age of 65 are exempt from capital tax gains on the sale of their home if it is their primary residence

·                                 If the home is not the primary residence, one is only taxed 20%, and non-residents taxed only 18%

Banks and Finances

You will be dealing with Euros, as in most other European countries, but Spanish banks are simple to use and will accept British credit cards in their ATMs. You can also find branches of Barclays and other familiar names in Spain.

Metro Conversion

An actual calculator that helps you convert money from one country to another, just scroll down to the calculator.

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Do not be too hasty or act on impulse when you buy the first house you look at, check around, and make sure this is where you want to retire the rest of your life. Many people make expensive errors when buying homes in Spain, usually because they do insufficient research and are in too much of a hurry, often setting themselves up for a big disappointment after retiring.

You should not expect to make a quick profit when buying property in Spain, but should look upon it as an investment in your family’s future happiness, rather than merely in financial gains. The lifestyle in Spain is also very attractive and tranquil. With a very low cost of living, not only will your money go further but also it enables you to live life rather than just live. Often the only regret is not having made the move sooner.