10 Tips for Retiring to Spain Successfully

More people than ever before are actively contemplating a retirement abroad.  It has become easier to source information about every aspect of relocating thanks to the internet, what’s more, people are communicating via forums and email more frequently and so ideas can be shared and questions answered.  It’s largely thanks to this access to information that we feel more people are making the move abroad in retirement a reality.

And it’s not just information that people source via the internet, they can research properties for sale, book their travel and accommodation online, and generally the world has become a much smaller, easier to navigate and access place thanks to the world wide web!

In our contribution to information provision via the internet, here are the Shelter Offshore 10 top tips for retiring to Spain successfully – because whilst it can be easy to source all the information you need, making sense of it and putting together a plan of action for a relocation can be more complicated!  If you want to get it right from the word go, trust us, the experts on all things expat!

1) Think ahead – whilst at the age of perhaps 50-something when you’re planning a retirement to Spain the idea of ever needing a home help or good access to local medical services will be a million miles from your mind, one day down the line it may well become important for you or your spouse.  So, if living the dream in Spain for you is retiring to a rural community – just take a few moments to be as realistic as you can be about how that will impact upon your life in 10 – 20 years time when getting out and about is less easy.  Future proof your retirement.

2) Whilst the thought of escaping UK and landing up in a sunnier setting overseas is all that’s keeping you going as the winter nights draw in and the days get shorter at this time of the year, you’ll be surprised how much you will miss some aspects of your life once you do move abroad.  For example, if you have children you may one day have grandchildren, and as much as that thought may be a million miles from your mind today, one day that will matter to you a great deal.  So, again, future proof your retirement to Spain and make sure wherever you choose to live you’re within reach of international transportation links.  The good news for those moving to Southern Spain and the Costas is that these are all areas well serviced by airports.

3) Actively begin looking at health insurance options for when you’re in Spain.  If you’re going to be beyond retirement age when you end up living in Spain you will be covered by a reciprocal agreement between the UK and Spain for your basic health care needs.  However, if you’re retiring early or want more than just access to basic health care, you will need to look at insurance.  The sooner you search out a suitable policy the better, as some insurers refuse to cover those over a certain age unless they have already been paying into a policy for a set term.  As stated, you will be entitled to some health care in Spain once you reach the age of entitlement as things stand at the moment, but when it comes to at home and residential care for older people, the standards are just not as high as in the UK.

4) Make sure you have a local will in Spain that covers all of your assets in that country, you will also need one in the UK if you still have British assets and you will need legal advice to make sure your affairs are properly dealt with.  Do not leave it until it’s potentially too late to get your wills sorted – no matter what age you are, if you’re an adult you should be responsible enough to have a will so that your family does not have the additional stress and trauma of sorting out your estate when you die.  The laws of succession in Spain differ to those in the UK, if you don’t have a will stating your intentions, your estate may not be dealt with as you would have wished.

5) Learn Spanish!  You will get so very much more out of your new life abroad if you make an effort to learn the lingo.  You will be able to appreciate the local culture and customs more, you will meet more people, have the chance to make more friends and what’s more, you’ll show those around you that you’re committed to your new life and this will make them far more accepting and welcoming.  You gain a new skill to boot, and you can show off to friends and family when they come and stay!

6) Get an accountant!  Most articles about buying property in Spain will tell you to get a lawyer of course, but few will tell you to get an accountant.  However, the tax system in Spain can be very complicated especially when you bring property taxes and foreign earned income into the mix.  A good accountant will help you make head and tail of the taxation system and protect you from paying too much!

7) The way of life and pace of life in Spain are different to what you’re used to.  Chances are this is one of the main reasons you’re contemplating retiring to Spain in the first place!  However, many people fail to grasp what that will actually mean to them!  You need to be aware that life slows right down, you’ll literally get nowhere fast if you try and rush and you’ll come up against a brick wall if you try and rush others.  Be ready to feel lazy initially, and then be ready to embrace long lunches that take until the late afternoon to finish!  You’ll soon wonder how you survived without a siesta!

8) Rent before you buy – you need to try the lifestyle before you commit to it and you need to try a property and an area before you buy a property in Spain.  Once you’ve retired you’ll have all the time in the world to spend time getting to know Spain.  Don’t rush your relocation, instead enjoy the process of getting to know all you can about the different regions of Spain that you’re interested in.  By taking this approach you are far more likely to succeed in making the move and making it a smooth and easy experience.

9) Get central heating installed in your villa or apartment.  Split unit air conditioning units are not sufficient in the dead of winter.  Ignore anyone who tells you otherwise!

10) If you decide that you want to renovate a property in Spain or just improve on a home you’ve already bought, know that permission is needed from the local council for almost everything you’ll want to do!  If you can, find well-recommended architects and builders who will make the whole process simpler for you by applying for this permission.  When you get a quote, make sure you find out whether VAT is included and bear in mind that it is normal to have to pay about 50% up front before building work commences.  Don’t take a chance on an unknown builder, get good recommendations from trusted sources and insist on seeing examples of their work.  If they’re a good builder they’ll be proud to show you what they’ve done before!