Buying a property abroad - 10 key questions

1. Do you want to emigrate completely or split your time with the UK?

The idea of leaving Britain once and for all may seem tempting, but what happens if you get fed up living abroad? Lots of émigrés miss their families and friends more than they had anticipated, or find that life overseas just doesn‘t meet their expectations.

Some become ill or lose their spouses or partners and end up heading back home. Don’t assume you’ll be immune from such problems, and if you can possibly afford it, keep a property in the UK so you’ve got somewhere to come back to if needed.


2. How accessible do you want your new home to be?

Part of what drives many people to retire abroad is the desire to escape overcrowded Britain and find a rural idyll somewhere.

But bear in mind that life in the sticks can feel doubly isolating if you’re in a foreign country, especially as there are usually fewer English speakers in more remote areas than in bigger towns.

And remember that although budget air routes may have widened your choice of retirement destinations, they are not all suddenly flying supersonic.

So be realistic about door-to-door journey times when you think about whether your new home is close enough to the UK - and about how you would cope if the airline pulled the plug.

3. What sort of climate do you want?

It’s important to do your research into what the weather’s like in your possible new home all year round. Even in the Mediterranean the climate can be much more variable than meets the eye.

Winters in parts of Spain, Italy, Greece and the Balkans can be harsh, for example, and especially if you buy in a mountainous region you may find your ‘place in the sun’ spends several months of the year far from it.

4. What’s your ideal environment?

Being beside the seaside might be great for holidays, but if you’re choosing somewhere to live in for keeps it’s important to choose a location that suits your temperament.

If you like to busy yourself with cultural pursuits and enjoy the buzz of being surrounded by shops, bars, restaurants and galleries, don‘t banish yourself to the back of beyond.

Maybe all you want is a quiet life and plenty of good wine, in which case that sleepy village the locals can’t wait to escape from might be just up your street.

5. How much space do you need?

If you’re selling a valuable home in the UK, it can be tempting to buy something huge overseas, simply because you can afford to - but why bother if you’ll be rattling around in it on your own?

Equally, if your children have flown the nest, it’s easy to go to the other extreme and choose somewhere tiny - but remember you could end up cramped when family and friends descend and what about practical issues like where you’re going to store your car, bikes and golf clubs?

6. Would you like other Brits nearby - or are you trying escape them?

Some people who retire abroad do their best to integrate into the local community, gradually improving their language skills through total immersion and welcoming the opportunity to try new things and have their beliefs and preconceptions challenged.

Others prefer to live a more expatriate lifestyle, choosing more obvious overseas property hotspots, clustering around fellow Brits and ‘getting by’ with limited knowledge of the local language. You need to decide which category you fit into.

7. Do you want to have facilities and other retirees on-tap?

The growth in overseas retirement is leading growing numbers of foreign property developers to construct secure, purpose-built retirement communities, where shops, restaurants, leisure facilities, social events and even medical care are provided on-site.

Normally marketed at the healthy 50s end of the market, Spain is probably your best bet within Europe for such developments, with other countries sure to follow.

Some people find such complexes a complete turn-off, but if you are interested, do plenty of research and check the small print about details like age limits and service charges .

8. Do you really want to cope with a renovation project?

Romantic as it may seem to buy a country pile somewhere and do it up, it’s vital to tread carefully to avoid coming a cropper when renovating. Renovations can work brilliantly, but many end up costing much more than anticipated.

You might hear otherwise from dodgy builders, but in most places planning controls are just as tight as in the UK - if not tighter - so take time to find an architect or master builder you can trust.

Keeping a lid on building costs when you’re not on site to manage the project is a really tough call; taking a DIY approach can also be disastrous unless your language skills are fantastic and you find a way of collaborating successfully with the locals.

9. What about your finances?

We all know Britain has a high cost of living, but that doesn’t mean you can forget about finances when moving abroad. Apart from the need to borrow, especially if you are keeping a base in the UK there are a host of other issues to consider.

You have to think of things like furniture removal, relocating pets, the costs of a letting agent back home, and the possible effects of exchange rates. Tax, pensions, other investments and inheritance arrangements all need careful planning.

10. What about healthcare?

There’s plenty wrong with the NHS, but at least it’s free at the point of delivery, which is more than can be said for most other countries’ health systems.

Even if you’re healthy now, chances are you’ll need increasing amounts of medical assistance as you get older - so think carefully about how much it’s going to cost to surround yourself with a decent level of care.

Many retirees end up returning to the UK at least partly because of healthcare concerns - make sure you do your homework first if you want to avoid doing the same.

Written by Jeremy Davies, the author of the Which? Essential Guide to Buying Property Abroad, available at all good bookshops and via www.which.co.uk
Source: http://www.saga.co.uk/magazine/money/planningforfuture/abroad.asp