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Hi all me and my partner are looking at buying a property in Spain and living there permanently He would like to take early retirement and use his private pension until he is able to get his state pension. I am not yet able to claim any pensions due to my age would this be a problem? Is there anywhere I can get good advice as all the websites seem to say different things and to be honest I’m a little confused by it all
Bit of a can of worms that question. Very many and varied views on the cost of living here. Depends hugely on your lifestyle , some claim very little cost, others much more. Can only speak for ourselves, as a couple we spend 150€ or so a week on food. We don't eat out often and then it is usually only 40€ if we push the boat out and have wine with the meal. Electric is expensive, 70/80€ a month for 2 bed 2 bath place, water about 70€ every 2 months. IBI (council tax) much lower than UK, ours is a 12th of what we paid in the UK. Cars are expensive to buy but cheaper on road tax. The sun is free though 🏜
Posted: Tue Mar 10, 2020 2:07pm
Super helpful member
PhilTox wrote on Tue Mar 10, 2020 9:18am:
Bit of a can of worms that question. Very many and varied views on the cost of living here. Depends hugely on your lifestyle , some claim very little cost, others much more. Can only speak for ourselves, as a couple we spend 150€ or so a week on food. We don't eat out often and then it is usual...
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...ly only 40€ if we push the boat out and have wine with the meal. Electric is expensive, 70/80€ a month for 2 bed 2 bath place, water about 70€ every 2 months. IBI (council tax) much lower than UK, ours is a 12th of what we paid in the UK. Cars are expensive to buy but cheaper on road tax. The sun is free though 🏜
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Vickil76 wrote on Tue Mar 10, 2020 9:01am:
Hi all me and my partner are looking at buying a property in Spain and living there permanently He would like to take early retirement and use his private pension until he is able to get his state pension. I am not yet able to claim any pensions due to my age would this be a problem? Is there any...
Read more...
...where I can get good advice as all the websites seem to say different things and to be honest I’m a little confused by it all
I agree the various websites & forums can be confusing. Hopefully someone on here more knowledgable may jump in and help....
I am a non-resident (have a holiday home here), but plan to move over full-time in about 5 years (health & finances permitting), so I've been looking at what's required.
I believe the two main considerations should be healthcare and minimum income requirements.
I understand that if you are under retirement age you need private healthcare for at least the first year, then you can apply for spainsh healthcare at a cost of around 60 euros per person per month. Then, when you reach retirement age (and have lived there for 5 years?) healthcare is free.
While the cost of living can be to 'live to your means', currently, you need a minimum income of 800 euos per month to obtain residency - this can be from a pension; but after Brexit this will rise to 2,100 euros per month and an additional 532 euros for each additional resident in a household. This doesn't apply if you already have residency.
What I can't see anywhere is this is net or gross income...
There are also some forums that suggest that you can count the value of your property or savings as this income - but again, I'm unsure.
Hopefully, one of the regular helpful contributors can assist...
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