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canman80

Retirement
« on: April 09, 2013 »
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  • The Mrs. and I(she's an ex-pat I'm American)want to retire to Tenerife next year.We are not made of money and would have to sell everything we own to make it happen.One the first things we need to research is the typical monthly living costs,rent,food etc?also keeping in mind the exchange rate.Can anyone give me a ballpark idea of what we will need?   
                                                                                        Many Thanks,Dan Sawyer

    Offline Tanemera

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    Re: Retirement
    « Reply #1 on: April 09, 2013 »
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  • Rent depends on what you want but 600 euros a month, inclusive, should get you something reasonable.  Try Googling it.  Food cheaper than UK, restaurants typically cheaper and can be much cheaper, electricity dearer.  If you plan to be a resident you will pay your taxes here and I have no idea how they compare with the UK.  Before you sell up in the UK I would most strongly advise you to spend 3 to 6 months renting here.  There is a big difference from being a "winter swallow" and full time resident.

    canman80

    Re: Retirement
    « Reply #2 on: April 09, 2013 »
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  • We'd be selling up from the US and taxes here are plenty.In NYS we pay $1100USD a year just for school taxes and we don't have any kids in school.Property taxes run us $2000USD a year on a 3 bedroom townhouse on a 1/4 acre lot.Yes, I agree with you on a trial period of renting,that idea came to me as well.
    The plan is to become full time residents,I've only visited 3 times(wife more)and she loves it there and I can see the appeal.God I fell in love with Casa Pedros Tenerife Stew,,yumyum.Much to look into but thanks for the info..

    Offline Tanemera

    • Juan Tanemera
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    Re: Retirement
    « Reply #3 on: April 09, 2013 »
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  • OK, Canman80, I can understand your enthusiasm.  BUT, I know people who have taken the big step, severed their links with home and lived to regret it.  You really, really do need to live here TEMPORARILY until you are completely convinced you want it to be permanent.  There are enormous differences in the culture, politics, taxes, laws, language, etc, etc from the UK and USA.  I live here for the maximum permitted (183 days a year), absolutely love it, but would never consider severing my ties with the UK.  You could get tired of permanent springtime and carne con papas (beef stew with potatoes)!

    Offline bernie

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    Re: Retirement
    « Reply #4 on: April 10, 2013 »
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  • Renting for a while is a great idea, you can move around and find out exactly where you want to be without all the hassle of moving furniture etc from place to place. I know people who live quite a happy life on 1000 a month, single of course so add just a little bit more for the two of you and you should have a comfortable existence here in the sun. Of course if you love the night life and want to be out every night on the razzle dazzle you'll need considerably more cash.

    Offline Dolly Diver

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    Re: Retirement
    « Reply #5 on: April 13, 2013 »
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  • I severed my ties with the UK 22 years ago and have never regretted the decision.  Living here is not problem free and paperwork drives me mad most of the time, but whatever the problems are, the sun shines, it is never cold (compared to the UK) and rainfall is a welcome change as a rainy day is rare.

    It is wise to do your homework carefully before you make the move.  Please feel free to use this board to ask any questions you may have. DD

    Offline boadicea

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    Re: Retirement
    « Reply #6 on: April 13, 2013 »
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  • As a 60+ year old, the thing that would deter me from settling in Tenerife permanently is leaving our nice cosy NHS behind. Having had no experience of the Spanish health service, I am not in a position to judge its efficiency or accessibility but the thought of seeing a doctor who does not speak my language, would be disconcerting to say the least. But maybe those who have had treatment may be able to put my mind at rest.

    Offline SandyLea

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    Re: Retirement
    « Reply #7 on: April 13, 2013 »
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  • We have just sold up here and are moving out in 2 weeks.  As for the "great NHS", forget it.  If you want to see a doctor here in Lincolnshire, you have to wait at least a week, if you want a referral for a scan, you have to go private, treatments you are prescribed are too expensive for GP's to give you, patients in hospitals are treated no better than animals.  If we get ill in LG, we'll pay - at least we will be treated properly there.

    The weather in the UK for the last year has been atrocious - rain for 6 months, snow for the next 6. 

    It is much cheaper to live in LG - Council Tax in the UK is, at a minimum, 100 GBP per month.  You have no car to worry about in LG as bus services are excellent.

    I say go for it!!

    FredLee

    Re: Retirement
    « Reply #8 on: April 13, 2013 »
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  • Good Luck SandyLea for the future.   Could you possibly let us know how you get on say in a months' time?   We all are fed up here and a future in Tenerife sounds wonderful and it would be great to hear of your experiences as you go along and experience this new life.

    Offline mrswisheywashey

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    Re: Retirement
    « Reply #9 on: April 14, 2013 »
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  • If I hadnt got family ties here I wouldnt think twice about moving to L G .  One day my dream will come true  :)

    Offline SandyLea

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    Re: Retirement
    « Reply #10 on: April 14, 2013 »
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  • We will certainly let you know how we get on.  So far, though, so good.  Gail at the Marina Apartments has been so helpful already in that she is going to take us around to see some rental properties.  We have been offered assistance (at a fee I presume) from the lady who runs CK's Bistro with any paperwork/translation services we need.  Nathan in Highland Paddy also offered assistance.  There seem to be so many people willing to help you (unlike here in UK where everyone ignores you!)

    I think half the battle is picking somewhere that feels like home and LG certainly fits that bill with us.  We did various sorties to North Cyprus and Turkey to see where we wanted to settle but neither of these quite fit the bill.  LG just seems like a lovelier and warmer version of the UK - but that is just our opinion.

    Anyway, flights booked for 26 April and viewings booked for the day after so am very excited.  Five boxes of our personal possessions are already on their way out so no going back now!

    With regard to removals, we have used Hunts in Worcestershire who seem very clued up about removals to Tenerife and have given us very helpful information and an "idiot's guide" during the whole process so we would recommend using them.

    Also, we bank with Halifax over here and they are affiliated to Lloyds (who have a branch in Adeje) so there is no charge to transfer money from Halifax here to Lloyds there (in principle).  Will have to see how this works out in practice.

    Anyway, we will definitely keep you posted as we go along with any positives and negatives. 

    stevejclark

    Re: Retirement
    « Reply #11 on: April 15, 2013 »
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  • Best of luck with your move to LG this month. Like Mrs Wisheywashey, family ties prevent us from spending more time in LG. We had looked forward to spending 4-6 months a year there, but family issues have made us put our plans on hold. Let us know how the renting goes - are you planning to buy if all works out well? Hope you speak a bit of the lingo, as we've found it gets you a long way.(Lots of people offering Spanish lessons locally). Buen viaje!

    Offline SandyLea

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    Re: Retirement
    « Reply #12 on: April 16, 2013 »
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  • No, we are not going to buy.  The sale proceeds of our property here should last us for 11 years for rent.  After that, we will get our state pension to pay the rent.  We will be living on our private pensions that commenced when we were 50.

    We have bought our English/Spanish phrasebook already!!