I am sorry if I am repeating myself, but the subject of ex pats is being discussed on the web, either retirees who have sold up and come to Spain for a better life only to discover than when they decide to return to the UK, they cannot sell or even rent out their homes. In other words, they are stuck.
Again, these articles discuss the “50 somethings” who also sold up, bought a bargain in Spain, then lived off their income hoping to find a job. In this area none are available unless you are employed by another Brit or fluent in Spanish. Those that are available being low paid.
In the last area we lived, investors were buying off plan, then discovering the rental income was very low, ie 420 euros for a 2 bed 2 bath apartment with living room, kitchen and outside space, plus the use of a communal pool. In this case substantially less than their mortgage payments. A number of the people we knew handed their keys back and walked away, losing money in the process.
When we arrived in Spain we rented and are still doing so. Until I am absolutely sure which area I will settle in, or even if I settle in Spain at all, I will continue to rent. I would strongly advise others to do the same. Ignore these people on TV who say “sell up and move out, that way you will have to integrate and settle in your new home”. I advise you to make sure that the area (and country) are where you want to spend the rest of your life before you fully commit. True the first year is hard, but you get past it if you try. If it isn´t what you want, go home knowing you still have a home to go to. For me, a safety net is so very important. Moving to a new country is a major decision and should be treated as such.
Spanish Journal • July 24th, 2008 •
