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Retirement Destinations?

Only PFM could have a long exchange about Switzerland as a retirement destination.
I'm sure it is a lovely place when earning a fat salary.

Yes, you need a hell of a lot of money to live there full stop, even if you are wealthy enough to own your own property. All things considered (particularly healthcare when one gets on a bit), the UK is very hard to beat as a country to retire in (and live in for that matter).
 
My brother in law lives in Basel and my wife’s godmother lives in Commugny. I find a Switzerland a real contradiction. Full of great natural beauty yet one of the dullest places I’ve ever visited.
Not sure what exactly "dullness" entails, but if Switzerland personifies it, I'm happy to be dull.
 
How much, start to finish, would it cost to move from the U.K. to Portugal, using a removals company, and including estate agents fees, any tax incurred etc, from say a £400k house here to a €250k apartment?
A £250K apartment would not qualify you for a golden visa so you’d need a long term visa and full private medical insurance.
 
Yes, you need a hell of a lot of money to live there full stop, even if you are wealthy enough to own your own property.

I guess it depends on how you want to live. We're not wealthy, and we live relatively modestly. I guess that, if "live" entails fancy cars, expensive restaurants and holidays in exotic locations, then, indeed, it would require a lot of money. And we own our own property (well, actually only half of it, the bank owns the rest - one never pays off a mortgage in Swizzieland, because then the place becomes taxable).
 
How much, start to finish, would it cost to move from the U.K. to Portugal, using a removals company, and including estate agents fees, any tax incurred etc, from say a £400k house here to a €250k apartment?

You’d burn a lot of the difference one way or another, plus healthcare etc. Many do it, realise it’s not for them, then can’t afford to buy back in the UK. Mind you, the cost of moving in the UK is colossal. Having recently done so, I made damn sure we moved to a house which was future proof in terms of location and ongoing maintenance etc.
 
I guess it depends on how you want to live. We're not wealthy, and we live relatively modestly. I guess that, if "live" entails fancy cars, expensive restaurants and holidays in exotic locations, then, indeed, it would require a lot of money. And we own our own property (well, actually only half of it, the bank owns the rest - one never pays off a mortgage in Swizzieland, because then the place becomes taxable).

Yes, that sort of lifestyle will cost anywhere. Assuming no rent or significant mortgage to pay, I’m thinking more about the day to day cost of living. Food, fuel, local taxes, a meal out in a local restaurant, that sort of thing.
 
How much, start to finish, would it cost to move from the U.K. to Portugal, using a removals company, and including estate agents fees, any tax incurred etc, from say a £400k house here to a €250k apartment?
Tony….www.algarveremovals.com
Fully packed including taking care of customs paperwork etc, approx £3.5k max for the removals.
Add in solicitor costs in Portugal for purchasing ( plus the uk solicitor fees for selling), sales tax & local estate agents fees.
In Spain, you need to apply for NIE residency status to allow stays of over 90 days. Not sure what the deal is in Portugal.
Yes, accept that you will be paying for private medical & dental cover, but in Spain that is substantially cheaper than bupa etc in the UK & is superb service.
Golden visa in Spain is proof of approx €500k in value of property, investments etc, but again a good local solicitor is a must for managing this for you.
 
I would add that the best way to look at retiring to Spain or Portugal is probably not the “bargain loving Brits in the sun” type thing, hoping that life is miles cheaper than the UK, but rather that it is a bit cheaper ( depending really on £-€exchange rate) but a whole lot better lifestyle for similar cost.
Some things cost, yes private medical etc, be aware of the cost of running a private swimming pool, ( which is something your visitors will use more than you will) air con costs, community fees if you’re on a complex, making sure there are no hidden future costs etc.
OTOH, a coffee or a beer on the beach will cost €2 unless you’re in Marbella etc, fresh grilled fish, prawns etc also just a few €, & with a bit of sun & friendly people, that can be a great way to live. Walking the dog on the beach or biking inland, or golf if you’re of that persuasion, a bit of fishing, or train rides through spectacular country………..there’s got to be worse ways to live!
 
A £250K apartment would not qualify you for a golden visa so you’d need a long term visa and full private medical insurance.
A friends son had to live with his parents until he was in his early thirties in order to afford the deposit for a small apartment in Geneva.
 
I guess it may come down to what a “reasonable pension pot” is in hard figures?
Must admit I don’t really know what an average or good or very good pot is in the UK. And then it come down to what your expectations of a decent standard of living is I guess….. eat out once a month, or twice a week?
Sea view or inland finca location?
Wine at £5 a bottle or £15 a bottle?
Golf club membership, dogs to look after, pre-existing medical conditions etc etc.
 
Looking at the current state of the NHS, as I have through family members being in hospital recently, the private medical in Spain is like going to a 5 star hotel in comparison.
But yes it is a cost of maybe €100 per month that has to be factored in to the spreadsheet.
 
I guess it may come down to what a “reasonable pension pot” is in hard figures?
Must admit I don’t really know what an average or good or very good pot is in the UK. And then it come down to what your expectations of a decent standard of living is I guess….. eat out once a month, or twice a week?
Sea view or inland finca location?
Wine at £5 a bottle or £15 a bottle?
Golf club membership, dogs to look after, pre-existing medical conditions etc etc.
I was referring to the reply that a £250k apartment wouldn’t be enough for a golden visa.
 
A friends son had to live with his parents until he was in his early thirties in order to afford the deposit for a small apartment in Geneva.
Many years ago, I worked for 3 months in a patent attorney firm in Geneva, and was horrified by the accommodation prices. Geneva is, of course, home to many international organisations (20-something from memory), all of whose workers are not only well paid, but who also pay no income tax, and therefore have considerable disposable income. When I asked the office folk why it was so expensive, the reply was "Les organisations internationales!" But when I asked the international folk I knew, they replied, "Well, we have to be well paid, it's so expensive to live here!"
 


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