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ABC At Home

Homeschooling Mommy Entrepreneur

The Ups and Downs of Moving to Spain

February 25, 2022 by Lauren Palmer

It is the dream of many that their retirement is peaceful. Where their time can be spent meandering along endless coastlines, relaxing in the sun, or browsing through local museums. Those who have chosen to retire in Spain have found all of these things are available and so much more. You need to know that retiring to Spain is a big decision, and you will need to do plenty of research before you set out to enjoy your well-deserved retirement.

Below we will take a look at some of the things you will need to consider before you decide to retire in Spain.

What about your finances?

One of the top reasons why so many British people who have moved to Spain pack up and move back home is their finances. If you cannot sort out your finances before you make the move, you will quickly find that you have fallen into a trap, and everything around you becomes far too expensive, leaving you on the breadline. You need to remember that you are heading into retirement. You will need to make sure that the funds you have available will last for the rest of your life. Remember that relocating costs money; there are no two ways about it. What’s more, a fluctuation in a currency’s value can leave you suffering if you haven’t protected against it.

What about your family?

One of the most vital questions to ask yourself is whether you will be able to leave your family behind without any regrets. When looking at your family, you need to keep in mind that if you have children or grandchild who may still rely on you financially and emotionally, this could make you move quite difficult. You could also choose to take your family with you, but this will come at an additional expense. You must talk with your family about your move. Find out how they will cope without you around and whether they will visit you.

What about your friends?

Many people who have lived in the same house for a number of years have made strong friendship connections. You might find that those connections are what make life so special. You need to keep in mind that when you move, you will not have those connections, and you will not have a close friend to turn to in person when things get a little tough. You will need to come to terms with this if you decide to move abroad. But, rest assured, you will make new friends, and you will be happy.

What about your home?

Before you move to Spain, you must decide what you will do with your home. You could sell the property and use the cash to purchase a dream villa, but in doing so, you might not have anywhere to return to should things go south. Of you could keep the house and rent it out, which will provide you with a small income to sustain you during your retirement. This is one of the biggest decisions you will make. If you decide to rent the house out, you need to know that you will still have to pay for a property in Spain. However, the rental income gained from a UK home is likely to be more than sufficient to pay your Spanish rent.

Filed Under: Finance

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About Us

Welcome to ABC at Home! The woman/parenting/homeschooling/entrepreneur resource brought to you by a busy, but efficient mother! I write articles about travel, business, finance and many more subjects for stay-at-home parents (yes, that includes men too) so that our kids can thrive as much as we do.