Hello! And thanks to all who weigh in:
I a writing for my brother, 70, who is not internet savvy. He wants to retire in France from the USA. His funds are limited. He has $62K (USD) for a house or apartment. He is looking primarily in Brittany/Normandy, but will live anywhere in France he feels he can budget. His only income is about $1,800 monthly from U.S. Social Security. He is aware that the U.S.-French agreement means neither country will tax that and feels he can make a go of it, though that $62k stash must go to housing. I have tried telling him no one will give a 70-year-old with that limited income/assets a mortgage. I have told him no one will let him pay installments as he hopes. I have told him any property he finds under $62k is likely to need a lot of work, and that materials, labor and the permit process will be expensive. He is currently working as a dishwasher the balance of this year to earn $10k more if he can. By the way, he speaks zero French, so he likes the idea of finding a large expat community. I have told him that only a tiny apartment will fit that budget, and that he is apt to find himself quite lonely. I believe even if some French regions are cheaper to live in than Detroit, USA, he is underestimating the costs of obtaining and maintaining a home while still paying for food, health care and other expenses. I don't want to be a prophet of doom, just to have him get a true and realistic appraisal of his likelihood of living this dream.
I a writing for my brother, 70, who is not internet savvy. He wants to retire in France from the USA. His funds are limited. He has $62K (USD) for a house or apartment. He is looking primarily in Brittany/Normandy, but will live anywhere in France he feels he can budget. His only income is about $1,800 monthly from U.S. Social Security. He is aware that the U.S.-French agreement means neither country will tax that and feels he can make a go of it, though that $62k stash must go to housing. I have tried telling him no one will give a 70-year-old with that limited income/assets a mortgage. I have told him no one will let him pay installments as he hopes. I have told him any property he finds under $62k is likely to need a lot of work, and that materials, labor and the permit process will be expensive. He is currently working as a dishwasher the balance of this year to earn $10k more if he can. By the way, he speaks zero French, so he likes the idea of finding a large expat community. I have told him that only a tiny apartment will fit that budget, and that he is apt to find himself quite lonely. I believe even if some French regions are cheaper to live in than Detroit, USA, he is underestimating the costs of obtaining and maintaining a home while still paying for food, health care and other expenses. I don't want to be a prophet of doom, just to have him get a true and realistic appraisal of his likelihood of living this dream.
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