- May Leong and her husband moved to Valencia, Spain, after she semi-retired and he fully retired.
- They purchased an apartment and condo within one year and said the process was surprisingly quick.
This as-told-to essay is based on a conversation with May Leong, a 62-year-old semi-retired career coach, business consultant, and nonprofit fundraiser who moved from Oakland to Valencia, Spain. It's been edited for length and clarity.
My husband is originally from Limerick, Ireland, but we spent the first 35 years together in the US. Since we spent all that time in the US, it was only fair to spend our later years in Europe and explore the many countries there. In January 2023, we moved from Oakland, California, to Valencia, Spain.
We wanted to retire in a warm location in a city by the water, so we considered Lisbon, but because it's so hilly, we looked elsewhere in Europe. Valencia, Spain, showed up as a low-cost place to live and within a year, we purchased two properties there — all cash. We paid $170,000 for one property and $200,000 for the other. We also paid taxes on the properties not included in the sales price.
We have a $3,000 monthly mortgage payment back in the US but are considering living in Valencia permanently. We're living the American dream in Spain — owning our home free and clear.
We'll probably sell our US property
We're renting out our US property, but we'll probably sell it because it'll take decades to pay for it. My husband is a retired sailboat captain, and I'm semi-retired. When we purchased our California home in 2016, there was a bidding war for every property we were interested in. We didn't want to participate, so we bought a new development in Oakland for $700,000 with a $520,000 mortgage — it was the only place we could afford.
Our US property is a 1,475-square-foot house with 2.5 baths and two bedrooms. We were lucky to get a place there, but it was a longer process because it was a new development. It took about nine months from the down payment to closing.
Buying a home in Spain was easier than purchasing one in the US
After we decided to move, in June 2022, we visited Spain to check out neighborhoods. Within a week, we found a condo we loved. The homebuying process in Spain is different. You have an inspection in the US, but we skipped an inspection in Spain, and our lawyer did almost everything for us. We weren't even present for much of the process.
The real-estate agent recommended our lawyer and we signed off power of attorney to them for our first Spanish property. Then, we returned to the States and owned the property within a month. We're lucky to have found a great lawyer, which is necessary for due diligence.
I was surprised to purchase two properties so quickly
That first property was an almost 800-square-foot condo with two bedrooms and one bathroom in a fantastic and convenient location close to the center of town. Condos and homes in Europe tend to be much smaller than in the States.
We purchased the second property for $200,000 almost a year after arriving. We weren't planning to buy another home, but our real-estate agent showed us this gorgeous loft-style condo with high ceilings and exposed concrete beans — everything we love. It's just over 1,000 square feet with two bedrooms, two bathrooms, and a cute inner courtyard. We moved into this second one, and we're working on renting out the first one.
Although any American is allowed to buy a home in Spain, you may need to apply for a visa if you plan to live there. I got residency through my husband because he's an Irish EU citizen. Although our neighborhood is filled mostly with local Spaniards, various ex-pats of different nationalities (Dutch, Ukrainian, Italian, French, Americans, and British) live in surrounding neighborhoods.
As more Americans purchase properties in Spain, gentrification has become an issue, raising housing prices. I believe in buying property to live here and contribute to the community instead of simply purchasing property as an ex-pat as an investment.
When purchasing property in Spain, you must be careful
One tricky part of the homebuying process in Spain is that it can be murky and confusing. Sometimes, when we spoke to one person in a city office, we'd get different answers when talking to a different person.
Luckily, the real estate agents we worked with were highly reputable. Purchasing a property is a considerable investment, and it's not uncommon to get scammed when buying in a different country. We found great local expat Facebook groups to learn about the local community and to get advice.
When purchasing property in Spain, you must be careful. You might find a great home, but when you look closely at the paperwork, it's not coded or approved as a residence. We were warned about this from various sources: Facebook groups, our real estate agency, and our lawyer.
Overall, we prefer Valencia to Oakland for several reasons
Valencia has a lower cost of living, great weather, less crime, and great food and drinks. We can walk almost everywhere and anywhere in the city day and night and aren't worried about being mugged or assaulted. We miss having friends and family and access to great Chinese food in Oakland and the Bay Area. Most of the Chinese restaurants in Valencia haven't been great, but we still prefer living here.
Valencia is also Spain's third-largest city — it's very urban. The attraction of moving to Valencia was being in the middle of the city. Just outside our door are cafés and restaurants that close at 2 a.m. We love our lives here.
Correction: April 1, 2024 — An earlier version of this story misstated the Oakland house cost. The house cost around $700,000 overall and was purchased with a $520,000 mortgage, it did not cost $520,000.