w/o cold winters/island: On an island you are on an island. Lots of germans moved to the Baleares, Canares, Portugal, Spain, or some richer Caribbean island, such as Kitts and Nevis or Bahamas. But generally they prefer New Zealand over that.
Most New Zealanders relied on wood fires until the 90s. Many still do. Most homes are drafty, which is okay during the summer - unbearable in the winter. New Zealand had to supplement older people and retiree heating costs during the winter, because too many old people were getting sick and dying.
Your income will be about half of what you make in the EU, and about a quarter what you'd make in the US. Your cost of living will be higher than both.
For OP, I'd recommend a cheaper part of Europe. You're still within flying distance from friends and family, but you can likely rent, buy or build property that fits your needs during the year.
The north part of Australia might be more suitable if that's something you don't care about - wages are stagnating in Australia, property prices are beginning to plateau (in some cases come down) - however materials and labour are still ridiculous right now.