Cost of living I.e health insurance, taxes,

KarenG wrote on Sun Oct 18, 2020 12:12pm:

Hello Everyone, We are looking to buy an apartment in LaTorre, next year, but want to rent first.

Any guidance around cost of living, bills etc. Water, electricity, council tax, health insurance. We know about the community fees and just want a little more information. Also life on La Torre.  

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Thanking you for any information.

Karen & Mark

RichT wrote on Mon Oct 26, 2020 6:21pm:

Although you've posted this in the Camposol section of the forum, I sssume you're referring to La Torr golf resort? I've played golf at La Torre a few years ago, but wouldn't know enought about it to provide specific advice. However, we bought a villa in November 2019, so have fairly fresh experi...

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...ences to share on purchase costs, cost of living, etc.

You should allow 12-13% above the purchase price of the property for your costs. The key one being purchase tax, which is 8% (compared to say, 1.5% for Stamp Duty in the UK).

Council tax (IBI) will probably be around 10% of what you pay for a comparable property in the UK.

Electricity is slightly more expensive than the UK. Iberdrola are the dominant supplier in this areat, but they do also offer a tariff a bit like Economy 7, but you can choose which 8 hour block of the day or night you want at your cheap rate. Most properties don't have gas and it does get cold in winter, so you need some form of heating. Electricity is less efficient for heating, so costs can be higher (hard to say without knowing your property). Many villas have woodburners, but I'm not sure about apartments. Some aircon units can also provide heat.

Water costs are comparable to the UK, as are broadband and TV costs.

If you are moving permanently, then you need to take out private health insurance for the first year (approx. €60 per month per person, depending on cover, exicting conditions, etc.). After that you could buy into the spanish health system (which has a great reputation) for a similar cost; then, when you reach state retirement age, you will be covered for free - However, this may change depending on what happens with the Brexit withdrawal agreement.

Food is slightly cheaper, alcohol a lot cheaper.

Second hand cars are more expensive and a lot less choice. Car tax is cheaper; and fuel is about 10% cheaper.

Hope this helps - happy to answer any more specific questions that you may have!

RichT wrote on Mon Oct 26, 2020 6:21pm:

Although you've posted this in the Camposol section of the forum, I sssume you're referring to La Torr golf resort? I've played golf at La Torre a few years ago, but wouldn't know enought about it to provide specific advice. However, we bought a villa in November 2019, so have fairly fresh experi...

Read more...

...ences to share on purchase costs, cost of living, etc.

You should allow 12-13% above the purchase price of the property for your costs. The key one being purchase tax, which is 8% (compared to say, 1.5% for Stamp Duty in the UK).

Council tax (IBI) will probably be around 10% of what you pay for a comparable property in the UK.

Electricity is slightly more expensive than the UK. Iberdrola are the dominant supplier in this areat, but they do also offer a tariff a bit like Economy 7, but you can choose which 8 hour block of the day or night you want at your cheap rate. Most properties don't have gas and it does get cold in winter, so you need some form of heating. Electricity is less efficient for heating, so costs can be higher (hard to say without knowing your property). Many villas have woodburners, but I'm not sure about apartments. Some aircon units can also provide heat.

Water costs are comparable to the UK, as are broadband and TV costs.

If you are moving permanently, then you need to take out private health insurance for the first year (approx. €60 per month per person, depending on cover, exicting conditions, etc.). After that you could buy into the spanish health system (which has a great reputation) for a similar cost; then, when you reach state retirement age, you will be covered for free - However, this may change depending on what happens with the Brexit withdrawal agreement.

Food is slightly cheaper, alcohol a lot cheaper.

Second hand cars are more expensive and a lot less choice. Car tax is cheaper; and fuel is about 10% cheaper.

Hope this helps - happy to answer any more specific questions that you may have!