retirement salary

[tangobob]

Fourquestions:

1 You were charged more for the apartment than the original contract?

2 You had to pay on the purchase?

3 Were the escribano's fees unknown to you when you "bought" the apartment...or higher than quoted?

4 Do you know if only the buyer pays the escribano a fee or does the seller also pay?

1 I was not charged more for the appartment, but I was hit with bills that I still have not established what they were for, this is still being investigated.

2 sorry I do not understand the question.

3 I did not know, despite constant requests, how much he would charge until two days before. Luckily I managed to borrow some money from friends.

4 I think both the buyer and seller have to pay, but you would be better asking someone more qualified.

and finally Pericles is dead right about escribanos not knowing what they are doing, that is until they hit you with a bill.

 

[steveinbsas]

2 sorry I do not understand the question..

oops...I left out the word "tax"...

my question was: 2 You had to pay taxes on the purchase?

 

[perry]

The escribano fees should not be more than 2 percent . The biggest tax you must pay is Impuesto De Sellos ( Stamp Duty ) this is 2.5 of the price of the property . This is normally shared between the buyer and the seller.
There is an exemption on this tax if the purchaser is buying his first property in Buenos Aires . The stamp duty is only paid on purchases over 360000 argentine pesos close to US 120 thousand dollars and is paid on the difference between 120 thousand us dollars and the escritura price.

 

[steveinbsas]

The escribano fees should not be more than 2 percent . The biggest tax you must pay is Impuesto De Sellos ( Stamp Duty ) this is 2.5 of the price of the property . This is normally shared between the buyer and the seller.
There is an exemption on this tax if the purchaser is buying his first property in Buenos Aires . The stamp duty is only paid on purchases over 360000 argentine pesos close to US 120 thousand dollars and is paid on the difference between 120 thousand us dollars and the escritura price.

Thanks, pericles. Do both the buyer and the seller pay escribano's fees?

 

[perry]

They both pay fees to the escribano but the buyer will pay more than the seller.

 

[Stanexpat]

I met with an escribano yesterday who informed me that a DNI is now required to buy property here. If this is indeed the case, it would no doubt have (perhaps already has had) a negative effect on sales. If any of the real estate pros who regularly post here have more info I hope they'll share it.

It looks like this may not be the case but serves to underline the potential risk with investing in Argentina or purchasing real estate there. The rules can (and do)change from day to day without warning and without logic. Private property rights can be redefined or withdrawn almost at the whim of a handful of people who have little accountability to anyone.

 

[Pwil56]

Hello to "Just arrived"

We are in our mid 50's, married, and daughter grown on her own .
I am forcibly retired on an artificial ankle replacement from a career at sea as Merchant Seaman.

We too are looking for a more affordable venue with all the events happening here in the US.Indeed costs today are surpassing my meager income from disability and I continually have to dive into Savings which is a non sustainable tradgedy I have to deal with here on an ongoing basis...

This situation alone has led me research Argentina,all the more urgently.

I was originally raised in Switzerland and travelled extensively worlwide over the years. I speak some Spanish--could use some refresher training though..

We would like to possibly get with other retired persons considering the Argentina retirement route--probably all with very similar reasons incl Health Care and quality of life--

We plan to come down and visit-- first for about a month---in the US Fall (Argentina Spring) to get a lay of the land so to speak and get familiarized first with traditions,expenses and way of life and to make an educated assesment on the viability of such a change and whether it is workable financially in the long term.

By long term I speak of any Long Term care Insurance availability in Argentina should we decide to become residents as well as the necessary Health Care Insurance costs --which we understand to be more affordable in line with general population incomes.
While I have Social Security Disability income coming in I also plan to keep the US Medicare Advantage Plan in the US should any future need arise.
We also have sufficient enough assets to consider an outright cash purchase of a Condo in the Cordoba region--something like Miracielos--somewhere perhaps in the Villa Carlos Paz area away from the major city.

WE would welcome any expat participants in a similar situation for communication and understanding while we try to deliberate this necessary consideration of our lifetime survival on this planet.

Thanks,

Phil

 

[gouchobob]

Hello to "Just arrived"

We are in our mid 50's, married, and daughter grown on her own .
I am forcibly retired on an artificial ankle replacement from a career at sea as Merchant Seaman.

We too are looking for a more affordable venue with all the events happening here in the US.Indeed costs today are surpassing my meager income from disability and I continually have to dive into Savings which is a non sustainable tradgedy I have to deal with here on an ongoing basis...

This situation alone has led me research Argentina,all the more urgently.

I was originally raised in Switzerland and travelled extensively worlwide over the years. I speak some Spanish--could use some refresher training though..

We would like to possibly get with other retired persons considering the Argentina retirement route--probably all with very similar reasons incl Health Care and quality of life--

We plan to come down and visit-- first for about a month---in the US Fall (Argentina Spring) to get a lay of the land so to speak and get familiarized first with traditions,expenses and way of life and to make an educated assesment on the viability of such a change and whether it is workable financially in the long term.

By long term I speak of any Long Term care Insurance availability in Argentina should we decide to become residents as well as the necessary Health Care Insurance costs --which we understand to be more affordable in line with general population incomes.
While I have Social Security Disability income coming in I also plan to keep the US Medicare Advantage Plan in the US should any future need arise.
We also have sufficient enough assets to consider an outright cash purchase of a Condo in the Cordoba region--something like Miracielos--somewhere perhaps in the Villa Carlos Paz area away from the major city.

WE would welcome any expat participants in a similar situation for communication and understanding while we try to deliberate this necessary consideration of our lifetime survival on this planet.

Thanks,

Phil

I did basically the same thing you are considering, i.e. early retirement. My thoughts would be as follows:

1. You and your wife would probably spend $300-$400 a month on private health insurance today in Argentina. Also note that rates increase substantially for people over 65.

2. Don't know anything about long term care insurance in Argentina. I'm not sure it even exists.

3. The cost of living in Argentina is probably as high or higher than an average city in the U.S. today. Inflation is running 20-30% per year so you could figure what it will be in a year or two here.

Overall your cost of living could be higher than the U.S.(don't know specifically where you live now). If you do come rent at least for a year or two, until you are sure you want to stay. You mention wanting to be away from a major city so you would probably need a car which are more expensive here. One advantage of living in the big city is you don't need the hassle and expense of a car.

Another alternative in my mind would be someplace like a small town in Italy. Europe has gotten a lot cheaper recently for Americans with the Euro decline. I lived there a few years ago and we spend $185 dollars a year for health insurance which covered everything.

My guess is however that if you pick the right spot in the U.S. you could live as cheap or cheaper than Italy or Argentina.

 

[SaraSara]

Small towns in the US are inexpensive, and very pleasant to live in. Prices drop dramatically inland, away from both coasts.

Argentina was cheap for a few years but it is now expensive, and getting more expensive each year.

If you move outside the dollar area, keep in mind the currency risk: your pension may be indexed to the US cost of living increase, while your expenses will go up with local inflation. Last year's US inflation was zero, while in Argentina was over 20%. This year it promises to be even higher: many unions have already secured 30% salary increases for their members.