Retirees should consider long-term before moving abroad
People looking to retire overseas need to plan for the long-term, a leading charity has warned this week.
More and more older people are selling up and heading overseas for their retirements, to take advantage of the sun and lower cost of living.
With Brazil growing dramatically in popularity among British investors, the sorts of expatriate communities that are common in more established, less adventurous destinations for overseas property investment are beginning to build up.
"Anyone thinking of moving abroad should research where they want to move to thoroughly. They should find out the advantages and potential pitfalls of moving there and make sure that the country they are moving too will suit their needs now and in the future," a spokesperson for Age Concern said.
"Long term financial planning is essential. Find out about the cost of living and consider whether any of your income will stop if you move abroad."
Age Concern suggested that many buyers choose to keep hold of their UK homes for a trial period to allow them to judge whether living abroad is for them.
With prices in many beautiful parts of Brazil so low compared to the UK, and other markets inflating to the point of unaffordability, this is a real possibility for those thinking of investing in the country.
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