Home Real Estate Our NEW Cost To Live In Paradise In 2022 | Funchal, Madeira, Portugal

Our NEW Cost To Live In Paradise In 2022 | Funchal, Madeira, Portugal

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Our NEW Cost To Live In Paradise In 2022  |  Funchal, Madeira, Portugal

We continue our 2022 Cost of Living series here in Funchal, Madeira, Portugal, with a discussion on Renting vs Buying in the current market, and how each could affect YOU. We also break down our NEW cost to live here, now that we own our own home 🧐. We hope you find it helpful and a little interesting, as you pursue your “Second Half of Life.” All the best ~ Monique & Doug ❤️ 😊

In October, 2021, we achieved financial independence in North America and retired early at age 50, while moving to Portugal. We sold everything, and downshifted to our “Second Half of Life.” We are here on Madeira Island, Portugal.

Some of our other videos you may enjoy:

▶ Still A Good Idea To Move To Portugal In 2022?
▶ Closing costs and processes in Portugal:
▶ We bought a house in Portugal. Come for a tour:
▶ Healthcare & Insurance for Expats in Portugal:
▶ #1 Beach In Europe Is In Portugal?
▶ 10 Reasons You May Want To Consider Retiring Early:
▶ How to take One Year Off and travel the world:
▶ Our Madeira Apartment Rental Tour:
▶ 7 ways to live a long, healthy retirement!:
▶ How to fly with your dog – Part 1: and Part 2:

Looking for a vacation read? Inspiration for World Travel as a family or as a couple? Then Track Us Down! check out our e-book about our One Year Off as we travelled around the world with our kids:

AMAZON Kindle version of our book:
APPLE Books version of our book:
KOBO version of our book:

#costofliving #expat #retirement

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24 COMMENTS

  1. Since then heavy use is treated as public health issue and small amount of light drugs are allowd for individual consupsion. Althow not beeing legal it is not a crime. Dealing and selling is. Still a crime.

  2. Now that you are One of US let me avise you to read law 30/2000 also Sicad. This may help to understand how we funcion as a society
    In the 80/90s we were confronted with a big problem of drug abuse and Petty crime related to that
    By pressure of the society our law makers assembled a comity involving all kind of specialists
    We couldnt accept our Youth to BE treated like criminals when in fact they needed help .That law was

  3. Hello, Doug and Monique, Greetings from sunny Australia. We are also thinking about moving to Portugal and perhaps you can give us some info about the following:-
    1)Do you think we need an immigration lawyer to handle visa process to Portugal or it can be done by us.
    2). Any recommendation for good places live rent or own say about 30 to 45 minutes to live away from Lisbon?
    3) Is there any decent schools for kids (high or middle school).
    4)How to find a good private health insurance there.
    We would really appreciate if you could provide these info here or via private message to us. Thank you in advance.

  4. I was born in Porugal and I am glad to see that both of you are enjoying living in Madeira.

    However, the price increases in housing in Portugal….70% in the last 12 years is due to foreigners moving in and upping the prices.

    Oh well…it is what it is.
    Enjoy.

  5. Hello Monique & Doug, We have been subscribed for a while as we are planning to move to Portugal in April 2023 with Madiera at the top of the list? We really enjoy your channel for the solid information and overall content. Two questions, how much time prior to applying for the visa do you recommend looking for apartment rentals and can you recommend a good realtor company to contact? Thanks.

  6. Thanks guys. I do send your videos to friends . I would like to know if you are going with the CBI program . Or D7 . If you already answered this in a previous video i apologize.

  7. I've got my D7 appointment in September and am on the fence about buying because I will need a mortgage.
    On the one hand those costs would be fixed if I buy a condo and on the other, I would have the downpayment money to invest and be a better safety net if I rent. I will be 67 buy the time I purchase a home so I'm not sure. THe other thing you may want to mention is if someone wants to stay in Portugal beyond the 10 years for NHR, then taxes will go up significantly. So, that needs to be factored in as well. That is what makes buying more appealing to me but I am concerned about having a debt in the later years.

  8. Buying – I think property owners need to consider the possible implications of inheritance/wills etc with regards to spouse and children. – especially if you have property in other parts of the world. Portuguese law is based on Napoleonic law which is very different from US and UK law.

  9. Hi Monique and Doug! I have watched quite a few of your videos now, and I really appreciate the perspective you have. However, I would like to respectfully disagree with your assertion about costs in this video. I don't think you are really giving a full picture of the cost of living in Madeira for you. It appears you now do not have a mortgage or rental payment, but you did have significant purchases in the past few months: your home and your vehicle. Even if your current costs are lower, the overall cost of living there is significantly more than you are stating in this video. Can you please clarify this? I think for those who are thinking of moving there, they need to understand that perhaps they will need $300,000+ in cash at the ready to live the lifestyle that you have. I may be wrong, but it sounds like you paid cash for the car and for the home. If not, mortgage and car loan payments would apply and significantly increase the cost of living. Again, I really enjoy your content, but I think this point needs more clarification for your viewers.

    Could you also do a video on car costs/buying experience there? I think that would be really helpful for a lot of folks thinking of moving there. Thanks!

  10. Hello, Doug and Monique. We are from Canada and we “track you down”. Thank you for very useful and important content for the ones who is planning to retire in Portugal. I have two questions if you can answer; what are travelling options from Madera? Cruises? Flights? Any recommendations for money conversion on monthly basis? Thank you!

  11. Really enjoying your channel. I am in my mid fifties, retired due to health reasons. Your channel is very informative and enjoyable. My mother was born in Portugal, I have been thinking about tracking down family and possibly moving to Portugal. How much passive income must one have a month, in order to attain residency in Portugal? I am a retired registered nurse, with SSDI, a pension, and an IRA. Thank you Monique and Doug for your incredible channel. PS I have 2 large dogs that would travel with me. Your topic about traveling with Leo, was very adorable and informative. Waiting for your next episode with anticipation. Marlyn 😍😍🤗

  12. Check out our New & Improved Cost of Living here in retirement in Funchal, Madeira, Portugal. Are prices on the rise? We'd love to hear from you! All the best ~ ❤ Monique & Doug

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