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What budget would I have to set per month, to live in Spain

Posted: Tue May 12, 2020 3:36pm
52 replies3230 views14 members subscribed
Amanda68

Posts: 24

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Location: Camposol

Joined: 10 May 2020

Myself, partner and our 4 teenage daughters, are looking to moving to Spain, in the next 18 months. 

Would like to know roughly, how much income we need a month.  We will be buying the property out right, so just the running expenses of the home, pool, food, car etc. 

Thanks in advance 😊

PeterC

Posted: Tue May 12, 2020 3:59pm

PeterC

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Posted: Tue May 12, 2020 3:59pm

Almost impossible for anyone to say - you might want to eat out at top restaurants, run two or three cars, give the girls clothing allowances and so on. Take what you spend now in the UK, knock off a bit for lower council tax and you should not be far off.

Amanda68

Posted: Tue May 12, 2020 4:05pm

Amanda68

Original Poster

Posts: 24

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Posted: Tue May 12, 2020 4:05pm

PeterC wrote on Tue May 12, 2020 3:59pm:

Almost impossible for anyone to say - you might want to eat out at top restaurants, run two or three cars, give the girls clothing allowances and so on. Take what you spend now in the UK, knock off a bit for lower council tax and you should not be far off.

I was only asking for an idea of running home really.  

PeterC

Posted: Tue May 12, 2020 4:49pm

PeterC

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Posted: Tue May 12, 2020 4:49pm

Electricity is more expensive here, your IBI is probably less than you UK council tax (although if you choose to live on a golf urbanisation there will be community charges), water is a bit dearer, petrol/diesel a bit cheaper, car road tax similar but UK cheaper for a low-emission car, supermarket food prices not much different or dearer and so on. Alcohol is cheaper, you will have to allow for a fairly hefty health insurance bill for the six of you, and income tax quite probably more expensive in Spain. If you retain a property in the UK (or indeed outside Spain) you will be taxed on it. Most of the time the weather is better, but it does get cold in winter (so heating bills) and insufferably hot and humid in summer (so allow for air-conditioning costs).

Amanda68

Posted: Tue May 12, 2020 5:03pm

Amanda68

Original Poster

Posts: 24

2 helpful points

Location: Camposol

Joined: 10 May 2020

Posted: Tue May 12, 2020 5:03pm

PeterC wrote on Tue May 12, 2020 4:49pm:

Electricity is more expensive here, your IBI is probably less than you UK council tax (although if you choose to live on a golf urbanisation there will be community charges), water is a bit dearer, petrol/diesel a bit cheaper, car road tax similar but UK cheaper for a low-emission car, supermarke...

...t food prices not much different or dearer and so on. Alcohol is cheaper, you will have to allow for a fairly hefty health insurance bill for the six of you, and income tax quite probably more expensive in Spain. If you retain a property in the UK (or indeed outside Spain) you will be taxed on it. Most of the time the weather is better, but it does get cold in winter (so heating bills) and insufferably hot and humid in summer (so allow for air-conditioning costs).

That's great, most greatful for you help 😊 thank you so much. 😊 

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HelenRooke

Posted: Tue May 12, 2020 5:13pm

HelenRooke

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Posted: Tue May 12, 2020 5:13pm

Amanda68 wrote on Tue May 12, 2020 3:36pm:

Myself, partner and our 4 teenage daughters, are looking to moving to Spain, in the next 18 months. 

Would like to know roughly, how much income we need a month.  We will be buying the property out right, so just the running expenses of the home, pool, food, car etc. 

Thanks in advance 😊

Depending on size of property  ibi can vary from €200 to €600 plus a year.  Location of property even say 2 Rosa style houses depending on position to the sun can vary amount of electricity/oil/ gas used for heating air con.  If you have a pool that again will affect your electric and water Bill's depending on size of pool.  Most hood estate agents will have a running cost per type of property .  Winters do get cold here, so heating is required.   

Amanda68

Posted: Tue May 12, 2020 5:20pm

Amanda68

Original Poster

Posts: 24

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Location: Camposol

Joined: 10 May 2020

Posted: Tue May 12, 2020 5:20pm

HelenRooke wrote on Tue May 12, 2020 5:13pm:

Depending on size of property  ibi can vary from €200 to €600 plus a year.  Location of property even say 2 Rosa style houses depending on position to the sun can vary amount of electricity/oil/ gas used for heating air con.  If you have a pool that again will affect your elect...

...ric and water Bill's depending on size of pool.  Most hood estate agents will have a running cost per type of property .  Winters do get cold here, so heating is required.   

Thank you so much for your reply.  So helpful 😊

RichT

Posted: Tue May 12, 2020 5:37pm

RichT

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Posted: Tue May 12, 2020 5:37pm

Amanda68 wrote on Tue May 12, 2020 4:05pm:

I was only asking for an idea of running home really.  

It depends on the size of your home and your expectations really.

Home & contents insurance are comparable to the UK, but the market offers less choice of providers.

You're unlikely to have gas, so electricity bills will be higher and electricity is more expensive in spain. It's gets cold, especially at night, in the winter, so you'll have heating costs (many properties have wood-burners, but you still need to buy the logs!); and in the summer air-con. If you have a pool, then there is the cost of the pump running and more if it is heated. Electricity total maybe £120pm without pool heating.

If you don't do it yourself, a pool cleaning & maintenance contract - £35pm.

Braodband & tv similar to the UK.

Again, depending on the property, IBI (which is the equivalent of council tax) is much cheaper - we pay 400 euros per annum in Spain, but £3,500pa in UK!

Food is comparable, eating out generally a bit cheaper, fuel 10% cheaper; alcohol a lot cheaper :-)

As I assume none of you are retirement age, you'll need private health insurance, which may be £300+ per month at least.

Hope this helps!

PS - And, finally, with 4 teenage girls, bottomless pockets and a shotgun! :-)

Amanda68

Posted: Tue May 12, 2020 5:46pm

Amanda68

Original Poster

Posts: 24

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Location: Camposol

Joined: 10 May 2020

Posted: Tue May 12, 2020 5:46pm

RichT wrote on Tue May 12, 2020 5:37pm:

It depends on the size of your home and your expectations really.

Home & contents insurance are comparable to the UK, but the market offers less choice of providers.

You're unlikely to have gas, so electricity bills will be higher and electricity is more expensive in spain. It's gets cold, especially at night, in the winter, so you'll have heating costs (many properties have wood-burners, but you still need to buy the logs!); and in the summer air-con. If you have a pool, then there is the cost of the pump running and more if it is heated. Electricity total maybe £120pm without pool heating.

If you don't do it yourself, a pool cleaning & maintenance contract - £35pm.

Braodband & tv similar to the UK.

Again, depending on the property, IBI (which is the equivalent of council tax) is much cheaper - we pay 400 euros per annum in Spain, but £3,500pa in UK!

Food is comparable, eating out generally a bit cheaper, fuel 10% cheaper; alcohol a lot cheaper :-)

As I assume none of you are retirement age, you'll need private health insurance, which may be £300+ per month at least.

Hope this helps!

PS - And, finally, with 4 teenage girls, bottomless pockets and a shotgun! :-)

Hi there, your reply did make me smile 😊 my partner will be retiring age, I'll be 54, we have a 19yr old and triplets, which are 15.  

We want to retire to the easy life, girls not too demanding  - just love living life.  A bit like darling buds of May in Spain really 😊

Thank you for your reply 😊

frequent flyer

Posted: Wed May 13, 2020 7:19am

frequent flyer

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Joined: 9 Feb 2018

Posted: Wed May 13, 2020 7:19am

Your cost of living would be definitely more expensive in Spain ... although your council tax is cheaper in Spain this saving would soon be taken up with the running/maintenance of a swimming pool your weakly food bill for 6 people would basically be the same as the UK....if you are under UK retirement age you would need a private health care plan this would cost you approximately €300 per month for two adults ..as you know the UK is leaving the EU in January 2021 so you will also need a private health care plan for your 4 kids..at the moment for kids under 18 .NHS care is free in Spain up to January 2021 .. before you and your young family of 4 are excepted as Residents you would need proof of income especially if you do not intend to work ...as far as I know it's €32,000 per married couple per year for Non EU citizens ..the UK will be classed as non EU from January 2021 ..this would obviously more in your case as you have 4 teenage kids to look after so in my opinion for what it's worth you would need to be quite wealthy to live in Spain under your present surcomstances ...but this dose not stop you taking holiday's in Camposol so why not come over to Camposol first and see if the urbanisation is to your liking... good luck.

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