Sell ​​everything and enjoy your retirement in the sun?

Tired of Germany's cold, wet winters? Would you rather enjoy your retirement in a mild climate with plenty of sunshine? Many retirees are considering spending their golden years in warmer countries. Those who plan it cleverly can reduce expenses. However, there are pitfalls. And what should you do with your property that you leave behind in your home country?

Seniors in Germany are living longer and have never been healthier than they are today. After a demanding working life, many want to enjoy their newfound freedom and experience something new. Many seniors therefore choose to retire abroad. However, not every country is equally suitable. Several factors should be considered when moving abroad.

What is the medical care like?

Good medical care becomes increasingly important with age. A view of the sea is of little use if the nearest hospital is miles away or the doctors don't speak German or at least English.

What are the living costs?

In popular countries like the USA, the cost of living is often higher than in Germany. In countries like Spain, Hungary, the Czech Republic, or Poland, on the other hand, you get more out of your pension. Medical care is also very good in these countries. Experts also recommend researching pensions, taxes, and insurance in your chosen country.

Climate, mentality, food, language?

Those considering emigration should first think about how well they will cope with the local cuisine, mentality, and climate, and whether they can communicate with the locals. Even someone from northern Germany might find it difficult to imagine living in Bavaria, and vice versa.

What will happen to the property in Germany?

Property in Germany can be gifted or inherited by heirs. Renting it out is also an option. However, many owners need the capital for a fresh start abroad and therefore choose to sell their property. Consult a reputable local real estate agent to determine the best solution for your property.

Are you considering spending your retirement abroad and have questions about what will happen to your property? Contact us! We'd be happy to advise you.

Notes

For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.

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