Can We Afford To Live In Spain?

[crookesey]

We are both in our early 60's, both fit (famous last words), sick of work (so we won't be doing any in Spain), we won't have any debts and our clubbing days are long gone. We are not aversed to the odd lunchtime beer and meal out but intend to buy somethinge large enough to spend our time in and around without tripping over each other. Most of our eating and drinking will be done at home as is currently the case.

We will run a car and have to pay bills and rates etc, I'm not bad at tax mitigation as it forms part of my current job but find that tax inspectors wordwide like to have their little victories so will err on the side of not upsetting them. Things will need replacing and refurbishing, climbing up ladders with a pot of paint in one hand and a brush in the other is something that I don't do now and I don't envisage changing my ways in Spain. Clothing costs will be far less but the car will still need servicing and repairing, and of course there will be costs that we don't incurr in the UK, maintaining a swimming pool comes to mind.

So how much per annum will we require? Is there anyone out there who's circumstances are similar to ours? i.e. Living off the proceeds of state and private pensions and investments, call it £30K per annum net of UK taxes. Are we being realistic by thinking that we could live a better life in Spain than we live in the UK?

Oh and whilst I am on, we will be viewing properties in September ranging from 285,00 euros to 395,000 euros, all but one are owned by Brits who want to return to the UK.

All appear to be very nicely furnished but I can't imagine that they will be shipping it back to the UK. In view of the near collapse of the Spanish property market I have a feeling to go in at 30% less than the asking price inclusive of the furniture, what do you gyus think?

[Big Pete]

Originally Posted by crookesey

We are both in our early 60's, both fit (famous last words), sick of work (so we won't be doing any in Spain), we won't have amy debts and our clubbing days are long gone. We are not aversed to the odd lunchtime beer and meal out but intend to buy somethinge large enough to spend our time in and around without tripping over each other. Most of our eating and drinking will be done at home as is currently the case.

We will run a car and have to pay bills and rates etc, I'm not bad at tax mitigation as it forms part of my current job but find that tax inspectors wordwide like to have their little victories so will err on the side of not upsetting them. Things will need replacing and refurbishing, climbing up ladders with a pot of paint in one hand and a brush in the other is something that I don't do now and I don't envisage changing my ways in Spain. Clothing costs will be far less but the car will still need servicing and repairing, and of course there will be costs that we don't incurr in the UK, maintaining a swimming pool comes to mind.

So how much per annum will we require? Is there anyone out there who's circumstances are similar to ours? i.e. Living off the proceeds of state and private pensions and investments, call it £30K per annum net of UK taxes. Are we being realistic by thinking that we could live a better life in Spain than we live in the UK?

Oh and whilst I am on, we will be viewing properties in September ranging from 285,00 euros to 395,000 euros, all but one are owned by Brits who want to return to the UK.

All appear to be very nicely furnished but I can't imagine that they will be shipping it back to the UK. In view of the near collapse of the Spanish property market I have a feeling to go in at 30% less than the asking price inclusive of the furniture, what do you gyus think?

On 30k i am sure you will be more than comfortable . and without doubt you will be better off , as you use less heating , lighting etc etc than in UK .
On foods and stuff make sure you get a garden and you can grow your own fruits and veg as you get the weather ..

Regards the trying 30% go for it , sounds a lot of discount to me and i would say go and run and jump or similar But if there desperate or they brought it themselves at a keen price then could say ok

[jojo]

House prices in spain are predicted to have fallen by approx 20% by the end of 2010 - maybe wait til then to put in offers of 30% below the asking prices or you may not be taken very seriously! Also, you should look at which agents are selling which properties, some actually add their commission on top of the price the vendor is wanting - and the agents commission percentage can vary hugely! So you may find the same property on with several agents at different prices. You also have to pay a lot to buy a place here, around 7% - 10% of the house price - and be very careful that the property has the correct paperwork

As for living expenses, well I'm not finding it much cheaper than the UK, although people on this board would probably argue with me (in fact they have on a previous thread LOL!!!)! But I live here with two children. three dogs, a car and I smoke, dont drink or eat out very much and we spend approx 1,000 euros a month excluding rent and school fees

Jo

[Big Pete]

Originally Posted by jojo

House prices in spain are predicted to have fallen by approx 20% by the end of 2010 - maybe wait til then to put in offers of 30% below the asking prices or you may not be taken very seriously! Also, you should look at which agents are selling which properties, some actually add their commission on top of the price the vendor is wanting - and the agents commission percentage can vary hugely! So you may find the same property on with several agents at different prices. You also have to pay a lot to buy a place here, around 7% - 10% of the house price - and be very careful that the property has the correct paperwork

As for living expenses, well I'm not finding it much cheaper than the UK, although people on this board would probably argue with me (in fact they have on a previous thread LOL!!!)! But I live here with two children. three dogs, a car and I smoke, dont drink or eat out very much and we spend approx 1,000 euros a month excluding rent and school fees

Jo

Yes but bear in mind at the moment the Euro is some 20% against us hence why not so obviously cheaper .. but when Euro back in synch happy days.

Also young jojo what would your expenses be if you was back in UK ? as things here are creeping up and up ..

[jojo]

Originally Posted by Big Pete

Yes but bear in mind at the moment the Euro is some 20% against us hence why not so obviously cheaper .. but when Euro back in synch happy days.

Also young jojo what would your expenses be if you was back in UK ? as things here are creeping up and up ..

Yeah, the damn euro isnt helping!! Its difficult to guage the difference between what I spent in the UK and now, cos i buy totally different things here and of course the UK is also having major price rises. I guess I take a glance at familiar and similar items and there really isnt much difference -- I dont think??? fuel and utility bills are cheaper here though! In fact I cant get over how cheap the community/council charge thingy is here - 8 euros a month!!!! and we get a bin collection every other day!


I like the "YOUNG" Jo - I doubt whether theres much difference in our ages LOL!!

Jo

[Big Pete]

Originally Posted by jojo

Yeah, the damn euro isnt helping!! Its difficult to guage the difference between what I spent in the UK and now, cos i buy totally different things here and of course the UK is also having major price rises. I guess I take a glance at familiar and similar items and there really isnt much difference -- I dont think??? fuel and utility bills are cheaper here though! In fact I cant get over how cheap the community/council charge thingy is here - 8 euros a month!!!! and we get a bin collection every other day!


I like the "YOUNG" Jo - I doubt whether theres much difference in our ages LOL!!

Jo

Well i must admit when i was over last week i found myself thinking things wasnt much difference to the UK on a lot of things , but it was only when i calculated the Euro thats where the prob was ..

yep i agree the Rates are good value for money ours is emptied every night at about 1.00am . regular as clockwork. and the roads get swept and even one day this young kid was walking along blowing the paths down in readiness for the sweeper
And i have street lights on every night , we have 8 down the road here in UK but they only light 3 at a time and here i pay £ 2000 a year in Mallorca £ 300

Well i am 50 and everyone is young to me I started work at 17 had me first business at 19 so i grew up quicker than most And now capturing my youth i guess
I Look 40 ish but feel 80 and act 21

[chris(madrid)]

€ - the problem is that the pound is allied more to the Dollar and that's weak. Take a look at UK/US stocks vs Spanish stocks and you'll see far more volatility there too.

Pete: Rates good vfm - You'd be of a different opinion if you had to do the work. The pay is ****e.

btw - when were your rates here last reviewed?. Ours shot up 300% when they were. Often happens at (just after) change of ownership - more or less when Catastro notes the change.

[chris(madrid)]

Originally Posted by jojo

As for living expenses, well I'm not finding it much cheaper than the UK, although people on this board would probably argue with me (in fact they have on a previous thread LOL!!!)! But I live here with two children. three dogs, a car and I smoke, dont drink or eat out very much and we spend approx 1,000 euros a month excluding rent and school fees Jo

KERIST! We have 2 cars, 3 bikes, 2 dogs (no kids) - Monti (the missus) smokes - we eat out at least once a week and we're living on a LOT less.

We do both work though so have less time to spend money. It makes a difference. Gotta love this strong Euro - makes UK trips almost acceptable.

[jojo]

Originally Posted by chris(madrid)

Gotta love this strong Euro - makes UK trips almost acceptable.

Not if your income is in sterling!!

jo

[Stravinsky]

Crooksey

You sound as if your expectations are much the same as ours. We dont draw pensions yet though, and live on investment income at the moment.

When we first arrived, only 2 years ago, I had calculated that we could live comfortably on around €1000 - €1200 a month, using capital if we needed any "extras". In reality it was about right then ..... but now of course with the r/ex we have to send over more sterling to get the same euros.

Even so, on £30k (€37k) you will live like kings around this area (I believe you are looking near us). Quite often I do hear people say they are finding it as expensive as the UK (and I don't doubt them) but here we dont find it so.