Spain is an ideal location to retire to, due to its idyllic location, fabulous food and exceptionally low cost of living. It may feel like a very big decision to make but once you have explored all the facts retiring to Spain might not seem to be such a big step.
Spain is an extremely accessible country to get to. Frequent low-cost air fares mean that travelling to and from Spain can be cheaper to get to than some areas of the U.K. by train, and once you arrive, getting around couldn’t be easier. New motorways have been built and other roads are being upgraded all the time which means you can get to the big cities easily and cheaply. Train and bus travel can also be a cheap alternative even if it is just to get to the local shops or beaches.
Life runs at a gentler pace in Spain making it an ideal place to retire to and a fantastic place for your friends and family to come and visit.
There are many things you need to consider before you go to Spain, such as where you will live. You will need to consider whether you want to live in a resort or in a predominantly Spanish community. Think about the facilities there is on offer. Is there plenty to keep you occupied? Are there plenty of shops and restaurants? You may want to take up some kind of hobby. You will need to find out what’s available. You will also need to consider whether the property you buy is suitable. Ensure it has air conditioning for the hot summer and heating for the winter. Consider going on holiday to Spain to various locations to find the best place to suit all your needs.
Consider the financial implications of retiring to Spain. You won’t be earning once you have retired. Make sure you have enough financial security to cover for all your needs, such as mortgage payments and household bills, as well as socialising and entertainment. If you have already retired before you move to Spain, make sure you inform the relevant government departments so that you can continue to receive your state pension into your Spanish bank account. Any personal or company pensions you may have can also be paid into your Spanish bank account. If you haven’t yet retired you can get a pension forecast which calculates the amount of state pension you will be entitled to. Contact the Inland Revenue for more information.
You will also require sufficient healthcare insurance. You can either take out private healthcare insurance or make voluntary contributions to the Spanish healthcare system. Apply for your EHIC card (European Health Insurance card) before you go. This will cover you for the first 6 months of your stay. After the 6 month period, you should then register with the social security system.
You should be prepared to make friends as soon as you arrive. Work on your Spanish. If you didn’t take a Spanish course before you arrived, find somewhere locally. Try talking to the locals. Most Spanish people are very friendly and are willing to help. There may even be British people in the area that you can meet.
You should also be prepared for some elements of doubt to set in. The first 2 years can be the hardest as you adjust to a new way of life. You may find that you can get a bit bored as you have been used to filling your day in the U.K. with work and family commitments. You should try to find something to do locally to help fill the time. If you can get involved in the community, you may find that you will settle in more quickly.
If you can try not to think of retiring to Spain in terms of ‘there’s no going back’ and more about ‘giving it a go’ it will help. With wonderful weather, beautiful beaches and a relaxing lifestyle, who could ask for more?