After Retirement

Salvadore said:
You could also consider short term corporate lets which might be a bit less hassle, particularly if you want to move back.
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I'd be thinking the same as Noproblem, if you don't need the extra cash you certainly don't want the extra hassle of dealing with renting
And I would have thought a short term corporate let might be somewhat hassle free renting but would expect that the standard of furnishings and services for a €50/60K a year let would be a lot higher and more expensive to maintain than a normal house letting and would be just as much hassle
 
Salvadore said:
I’ve toyed with the idea of buying abroad for retirement purposes but decided against it. Unless you’re very familiar with an area you’re planning on moving to, you’re taking a big chance.

I think renting abroad, particularly in the early stages, is a better option. You have none of the responsibilities of home ownership and you have the flexibility to try a number of different options should you get fed up with any single area.

Also, you want to be able to relax while abroad without having to worry about decorating, upkeep, home insurance, utility bills etc. A cousin of mine bought a beautiful apartment in Italy some years ago but seems to spend his holidays tending to some sort of domestic issue - broken washing machine, residents association issues etc. It’s not all chianti and tiramisu. He also pays about 1000 a year in management fees.

Think also about the lifetime cost. Off season rental in many resorts is very reasonable. You could spend two months abroad for a couple of grand. Over say 20 years, this is a lot less expensive than forking out a six figure sum on some property that you’ll be tied to in the long term.
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Same thoughts here. Also I dont want to be tied to a single location. I intend to travel far and wide wherever I feel like at a particular time. If I get a grá for a particular location I will rent longer term and check it out but I intend to blow most of my savings by the time I am about 75-80 and let the chips fall where they may after that. Easy to say at my current age, I may feel different when the time comes.
 
mary poppins said:
Same thoughts here. Also I dont want to be tied to a single location. I intend to travel far and wide wherever I feel like at a particular time. If I get a grá for a particular location I will rent longer term and check it out but I intend to blow most of my savings by the time I am about 75-80 and let the chips fall where they may after that. Easy to say at my current age, I may feel different when the time comes.
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I have spoken at length (understatement) about the trials and tribulations of buying property abroad. But, being tied to one locations isn't one of them. One of the advantages of owning property abroad is that you can swop yours for a holiday (even extended holiday) in another location. Mrs Lep and I have done this
 
Following on from Leper if one owned a holiday home here and was getting tired of the one location after a few years one could always do a swop too. Had'nt really thought of that.
 
Or spend less on the holiday home.

e.g. rather than spending €500k, spend €250k.

So it’s not as annoying or as ‘costly’ to go elsewhere.
 
Gordon Gekko said:
Not being funny, but where? In the middle of nowhere?
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You get what you pay for in the Costas. But, if you want a 2 bedroom apartment with sea views and centrally located you're talking circa €200K. Some resorts are dearer than others. You can buy an apartment for €40K too, but on a clear day you may see the ground and your neighbours may be a bit rough.
 
Leper said:
You get what you pay for in the Costas. But, if you want a 2 bedroom apartment with sea views and centrally located you're talking circa €200K. Some resorts are dearer than others. You can buy an apartment for €40K too, but on a clear day you may see the ground and your neighbours may be a bit rough.
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So €250k wouldn’t get me a mansion then like you suggested ;)

We’re starting to plan for a purchase in the next five years so I’ve commenced my research!
 
Roro999 said:
I guess not being funny that some people might prefer living in the middle of nowhere.
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Good for them. There are always outliers, but they hardly prove whatever point you’re trying to make. Most people prefer to be located centrally, near the beach, near some retail, near some leisure, near some golf, relatively close to the airport, etc.
 
Gordon Gekko said:
Good for them. There are always outliers, but they hardly prove whatever point you’re trying to make. Most people prefer to be located centrally, near the beach, near some retail, near some leisure, near some golf, relatively close to the airport, etc.
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I know of several rural holiday homes in Ireland available for 100k to 150k fifteen minutes from a beach, some retail and restaurants, golf but you have me on an airport. Just making a point that there are people or 'outliers' who do like to get away from it all and purchase a holiday home in rural locations.
 
Roro999 said:
I know of several rural holiday homes in Ireland available for 100k to 150k fifteen minutes from a beach, some retail and restaurants, golf but you have me on an airport. Just making a point that there are people or 'outliers' who do like to get away from it all and purchase a holiday home in rural locations.
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We’re talking about retirees here though and overseas.

Reliance on a car and remoteness are a problem the older one gets.
 
Would should consider the impact on climate when purchasing a property abroad..

Is it not more sustainable for all if property lets are being used through out the year instead of new properties being built!
 
Random question
People staying Spain, Portugal during months November to April: does the complex bar, restaurant tend to be closed?
 
moneymakeover said:
Random question
People staying Spain, Portugal during months November to April: does the complex bar, restaurant tend to be closed?
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Again, this depends on where you live in Spain/Portugal in winter. But, the main coastal towns have bars, restaurants open all year round.
 
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