Factors to Consider When Retiring in the Philippines
It is no news that the Philippines is a trendy destination among international and foreign travelers. And why shouldn’t it be? Surrounded by over 7,000 islands, the geography ranges from beaches and tropical rainforests to volcanoes and mountains.
It is famous not just for a vacation trip but for retirement too as life in the Philippines is relatively cheap. People are willing to move from their native country to here as the Philippine government attempts to attract expat retirees, offering an easy path with perks to permanent residency.
In a nutshell, the Philippines will give you the retirement experience that you won’t get anywhere. So no matter, if you are a Filipino or coming from a different country, retiring in the Philippines might be one of your best decisions. But that too depends on the lifestyle you want and many other factors.
Let’s talk about the factors you should keep in mind while planning your retirement.
Calculate How Much You Need
First, you should start with your savings and expenses, as your budget will decide your lifestyle after retirement.
If your goal is to retire on a small budget, you should live somewhere outside the city or in one of the less populated places. Determine your overall expenses from daily to contingencies and estimate your possible income. The trick is to maintain the balance between the two.
Cost of Living
It is good to do your research and consider all the costs of retiring. The Philippines has a low cost of living in general. International Living reports that you can live comfortably for $ 800 to $ 1200 a month, including housing, utilities, food, health care, and taxes. Accommodation can be of significant expense and takes up a substantial portion of your income. Housal offers you ease on your budget while looking for a house for rent by giving you amazing offers.
Retiree Housing in the Philippines
When buying a home for retirement, most people want amenity packages, low-maintenance living, and comfort. Downsizing and moving into an active adult community does not necessarily mean you have to sacrifice home quality.
To get the home you need for retirement, you must start looking for houses with Housal. Check out the listings of House for sale or House for rent at your preferred location.
Your Investments
With the never-ending expenses and fixed savings, investing can be a good source of income for retirees. Retired people should strive to find a safe investment to protect their sources of income as they face the risk of running out of money when they retire. You can consider investing in properties as well. Although non-Filipinos cannot own land, they can own property.
Retiring may change a lot about your routine, expenses, income, and lifestyle. To be prepared for the unexpected, you need to consider its factors and be thorough with your plans. If you plan to come to the Philippines from another country to retire, you might want to check with visa requirements. You have to deal with many complex things, but you can simplify a major part by getting onboard with Housal. Sort out your Housing plan by getting your home with us. Look at these Condos for sale and Townhouses for rent and get yourself a perfect home for retirement.
