Downsizing to a more manageable home is a liberating experience but it can be even more exciting if you go abroad. Aside from the weather, here are 6 reasons retirees hunting for their next home should consider a sunnier destination
Buying power
Growth in property markets in much of Europe has been almost non-existent in recent years, making them especially good value for anyone selling their home in the UK, where property prices have been on an upward curve.
“In Spain’s Costa Blanca, for example, a quality two-bedroom apartment or townhouse within walking distance of the beach and amenities is easily achievable for £70,000-£100,000,” confirmed Elaine Ferguson of OverseasGuidesCompany.com. Any left-over money from the sale of a UK home can be put towards retirement funds, help family members with their finances or perhaps a left-hand-drive car!
Reducing bills!
Moving into a smaller home anywhere should mean less maintenance, a smaller carbon footprint and lower household bills. But two bills that should fall noticeably when you live somewhere warm are your heating bills and council tax, which for most people in the UK is higher than it would be if they lived in Europe. And if you buy a new property, you’re likely to save even more as modern building materials are typically more energy efficient.
On-site facilities
Fully managed developments with a reception or 24-hour gated access suit older people, who feel safer knowing there is always someone on hand to deal with an emergency. And picking somewhere where most property-owners are permanent residents rather than holiday homeowners also brings peace of mind. Meanwhile, many new developments have excellent on-site facilities, so it’s never far to walk for a coffee by the pool, or yoga session in the gym.
A better social life
Developments abroad are real social hubs, and don’t just attract Brits but expats from other foreign countries too, enriching the whole experience of living there. According to Age UK more than two million people in England over the age of 75 live alone, and more than a million older people say they go for over a month without speaking to a friend, neighbour or family member. Loneliness doesn’t need to be an issue in a development abroad, where there is usually some kind of social event or club going on – from coffee mornings to bingo.
Starting afresh, by the sea!
Downsizing and moving to a new area in retirement can give people a new lease of life. Many people dream of living by the sea in their retirement, whilst others prefer the convenience of a busy town. It’s being able to combine these options with a fantastic climate and affordability that make destinations such as the Costa Blanca in Spain so popular.
Lock up and leave
Many expats welcome the convenience to travel as well as the security that owning on a gated development brings with it. It makes locking up and leaving an apartment or townhouse easy when they decide to travel, in particular back to the UK to see friends and family.
More info
For more information on buying overseas property successfully, download the Overseas Guides Company’s free France Buying Guide, Spain Buying Guide, Italy Buying Guide, Portugal Buying Guide or USA Buying Guide – and start receiving free news updates by email.
If you are considering an overseas property purchase in 2015, whether for lifestyle or investment, opening a no-obligation account with FCA-authorised Smart Currency Exchange will enable you to benefit from their competitive exchange rates and specialist currency knowledge, ultimately saving you money and time. For more information, download Smart Currency Exchange’s free report or visit the Currency Zone.