The Weak Pound is Not Completely Bad News for Expats, Actually

The Weak Pound is Not Completely Bad News for Expats, Actually

The pound to the euro has always fluctuated over time

British holidaymakers have always benefited from a strong pound, but British expats living in Spain have always benefited from a strong euro. The UK government has recently confirmed that they would trigger Article 50 – the official exit of the UK from the EU – in early 2017. Of course this news was immediately followed by all the typical doom and gloom talk and panic, which was only to be expected. What was a little unexpected was that the pound would drop so sharply against the euro afterwards.

While the pound has begun to recover it’s weaker than it has been for some time now. Last year you would get €1.34 euros to the pound. Now you would only get €1.11 euros to the pound. This is quite a considerable drop considering it’s only been a year, and experts are already predicting things can only get worse as Article 50 approaches.

The thing is though; this could actually be good news for current and future expats. The euro is currently stronger than it’s been in over three years, and this will probably not last for too long. The value of the euro fluctuates a lot more than the value of the pound and there are bound to be more ups and downs for both currencies as the Brexit nears.

There is another point to consider here and it’s perhaps the most pertinent of all. It’s important to remember that expat life is a two-way street. Just because you live in Spain and are working for euros that doesn’t mean the pound becomes meaningless to you.

Many Brits in Spain should see the weaker pound as nothing short of a godsend. It makes it much cheaper and easier for an expat to fly back to see their family or to have their belongings shipped over. They can also fly their friends over or purchase things online for cheaper now too.

It is true that Brits who are interested in selling and starting up anew will have a home that is worth a little less but it’s much easier to sell a property in Spain cheaper. This means you’re getting to Spain and living your new life faster than before.

One of the most important nuances to foreign exchange rates is how rich you actually are compared to how rich you end up feeling. When the value of the pound goes down it leaves those euros you’ve got feeling like they’re worth more, and that’s a good feeling for an expat to have.

If you’re unsure about whether or not you should make the jump to Spain then you’ll be comforted by knowing that the pound is currently one of the most stable currencies in the world. If you’re considering that move to Spain then there really hasn’t been a better time than now.

Three Ways You Can Turn Thinking About it to Actually Moving to Spain

Three Ways You Can Turn Thinking About it to Actually Moving to Spain.

Spain tops all other European destination to live.

If you’re one of the many people coming back home after a Spanish holiday then you probably feel the post-holiday blues. The drab and grey British sky is nothing compared to the bright and sunny skies of Spain so it’s no wonder that you’re feeling a little down now that you’re home. The same feeling comes after comparing going to work with spending a week by the pool.

There is more to the problem than just readjustment for some people. Spain just gets to some people. The culture, the people, the architecture; everything about Spain is appealing and it can be hard to get rid of thoughts about packing everything up and just moving to Spain.

What would it be like to wake up to the bright skies and welcoming warmth each day? What would it be like to get rid of your boring British home that is probably overpriced and undersized and swap it for a spacious Spanish property for sale on the Costa del Sol.? What would it be like to avoid the rush hour traffic, the wet puddles and the people on the train at 7AM?

You can find out what all that would be like if you want but it takes a little more than just packing up and moving. There’s a lot of thought, tons of planning, and the urge to just jump when it comes to moving to Spain. You shouldn’t rush into a decision such as emigration though, so you might be wondering how to go from thinking about moving to Spain to actually going. While everyone is different in their own ways we’ve compiled a list of three simple truths that should help you make the choice.

You’re In Good Company

The idea to move to another country is definitely daunting but it’s not as much of a step into the unknown as you think it is. Many people have already emigrated to Spain and are now living the life of luxury. There are so many, in fact, that it’s impossible to know how many Brits have moved to Spain. The official estimates suggest that there could be as many as 1.2 million Brits living in Spain. A million Brits can’t be wrong, right?

The most expat-heavy areas in Spain are found along the Mediterranean coast. The Costa del Sol in particular has everything that an expat could possibly need to live and work in peace. There are plenty of British supermarkets, greasy spoon cafes, plumbers, solicitors and teachers that have all made the journey from the UK before you. As such it makes integrating much easier than in other areas of Spain.

Now Really is the Best Time

Spanish property prices are currently around 28% less than they were at the peak of the boom period in 2008. Even so the data suggests that these prices are still continuing to rise across the country, especially in the popular buying areas such as Marbella and the surrounding regions. That’s why Spanish property is currently almost the perfect storm. It’s affordable for Brits who have the money for it (and may even be selling their home in the UK) while at the same time you know that in the future your Spanish property will be worth a fair bit more than it is now.

Throw in the uncertainty of the Brexit and Brits have a two-year window in which they can take advantage of the current EU laws that allow Brits to live, work, and own property in another EU member state such as Spain. Things are going to be a little foggy after the Brexit and there’s a solid chance things are going to be tougher.

Money Worries Will Always Be There

Something that stops potential expats from moving is that they worry about work and pensions. Ask yourself if you already have those worries at home. If you don’t then you should be able to afford a move to Spain. But if you do already have those worries then why are you expecting things to be magically different if you move? If you’ve got the knowledge and the resources to hold down a job and support your family in Britain then there’s no reason that you can’t do the same thing in Spain.

There will undoubtedly be challenges (you should probably start learning Spanish now before you move) but the facts are in and they paint a great picture; it’s cheaper to live in Spain, they also have an excellent free healthcare system, the education standards are top notch, the Spanish job market is recovering, and the Costa del Sol will always have openings forqualified and competent English speakers; which you undoubtedly are if you can afford to move to Spain.