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Advice on cost of living

Advice on cost of living

Old Jan 9th 2019, 6:23 pm
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Default Advice on cost of living

Hi,
My husband retires in July 2019 as he will be 65. We are cash buyers and would like to purchase a 2 bedroom townhouse in Villamartin near Alicante for approximately £80,000. I am not at retirement age yet I am 52. If and when we move to Spain I will be giving up a full time job so we will have a monthly income of 1,373.64 euros each month from my husband's pension. Will this be enough to live on and pay utility bills. We are social drinkers on a weekend and I am the only one who smokes which is tobacco.
I look forward to hearing from anyone to give me a rough idea.

Thanks
Caron
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Old Jan 9th 2019, 6:27 pm
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Default Re: Advice on cost of living

Originally Posted by cunninghamc1 View Post
Hi,
My husband retires in July 2019 as he will be 65. We are cash buyers and would like to purchase a 2 bedroom townhouse in Villamartin near Alicante for approximately £80,000. I am not at retirement age yet I am 52. If and when we move to Spain I will be giving up a full time job so we will have a monthly income of 1,373.64 euros each month from my husband's pension. Will this be enough to live on and pay utility bills. We are social drinkers on a weekend and I am the only one who smokes which is tobacco.
I look forward to hearing from anyone to give me a rough idea.

Thanks
Caron
​​​​
I would avoid making any concrete decisions until after March 29th to see what Brexit may do to your ideas. Have you lived or stayed long term im Villamartin? I have lived there for a few months and couldn't wait to get out of the area.
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Old Jan 9th 2019, 6:36 pm
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Default Re: Advice on cost of living

Hi,
My husband and I are going in April to look for property and to see what the area is like. Could you tell me why you didn't like it.

Caron

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Old Jan 9th 2019, 7:31 pm
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Default Re: Advice on cost of living

monthly income of 1,373.64 euros
Seems a little tight. What is your monthly expenditure in the UK?
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Old Jan 10th 2019, 5:32 am
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Default Re: Advice on cost of living

Originally Posted by cunninghamc1 View Post
Hi,
My husband and I are going in April to look for property and to see what the area is like. Could you tell me why you didn't like it.

Caron

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It's a soulless concrete jungle, only redeeming part is the shopping centre
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Old Jan 10th 2019, 7:05 am
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Default Re: Advice on cost of living

Originally Posted by cunninghamc1 View Post
Hi,
My husband retires in July 2019 as he will be 65. We are cash buyers and would like to purchase a 2 bedroom townhouse in Villamartin near Alicante for approximately £80,000. I am not at retirement age yet I am 52. If and when we move to Spain I will be giving up a full time job so we will have a monthly income of 1,373.64 euros each month from my husband's pension. Will this be enough to live on and pay utility bills. We are social drinkers on a weekend and I am the only one who smokes which is tobacco.
I look forward to hearing from anyone to give me a rough idea.

Thanks
Caron
​​​​
Sure, some people can manage on that and others can't. Don't forget that when you'll be giving up a full time job, you aren't paying into the pension pot anymore, so you just have to do the right calculations. He is retired but you aren't, so check health care costs and 52 is still young, so will you be happy long term? And as mikelincs said, what will be the outcome after Brexit. If the British economy is suffering and the pound drops, Villamartin won't suddenly see property prices increase. It will be the opposite, so no need to rush into buying there now.
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Old Jan 10th 2019, 4:30 pm
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Default Re: Advice on cost of living

Originally Posted by Moses2013 View Post
Sure, some people can manage on that and others can't. Don't forget that when you'll be giving up a full time job, you aren't paying into the pension pot anymore, so you just have to do the right calculations. He is retired but you aren't, so check health care costs and 52 is still young, so will you be happy long term? And as mikelincs said, what will be the outcome after Brexit. If the British economy is suffering and the pound drops, Villamartin won't suddenly see property prices increase. It will be the opposite, so no need to rush into buying there now.
As he is retired then if he gets the S1 from the DWP and ensures that he includes his wife she will get full coverage even though she is below pension age. this is the current situation.
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Old Jan 10th 2019, 6:05 pm
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Default Re: Advice on cost of living

Originally Posted by mikelincs View Post
As he is retired then if he gets the S1 from the DWP and ensures that he includes his wife she will get full coverage even though she is below pension age. this is the current situation.
Yes the current arrangment - Lets hope this doesn´t change on a hard Brexit, if Brexit happens at all!
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Old Jan 10th 2019, 6:14 pm
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Default Re: Advice on cost of living

Originally Posted by cunninghamc1 View Post
Hi,
My husband retires in July 2019 as he will be 65. We are cash buyers and would like to purchase a 2 bedroom townhouse in Villamartin near Alicante for approximately £80,000. I am not at retirement age yet I am 52. If and when we move to Spain I will be giving up a full time job so we will have a monthly income of 1,373.64 euros each month from my husband's pension. Will this be enough to live on and pay utility bills. We are social drinkers on a weekend and I am the only one who smokes which is tobacco.
I look forward to hearing from anyone to give me a rough idea.

Thanks
Caron
​​​​
OK so on your calculation, you need to include the 10% sales tax on purchasing a property and all the other costs - normally quoted as around 12% of the purchase price in total. Generally the cost of living is lower here, but the cost of energy is generally higher and yes you will need heating in the winter!
Take a look at Oliva! Its further north of Alicante by an hour. Is a Spanish village on the coast, just south of Gandia. It has a thriving British community and it is possible to purchase a nicely refurbish town house for your budget and certainly a nice apartment. Oliva has a lot going for it, including a cinema that shows English language films on a Thursday night.
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Old Jan 10th 2019, 7:08 pm
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Default Re: Advice on cost of living

The general consensus is, it is better to rent for at least 6+ months and in that time you will know the area pretty well and also if you like the experience you will have picked up some very valuable knowledge re property prices and cost of living generally. If the place is not what you expected then all is not lost. So rent, sniff the locals and size it all up.
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Old Jan 11th 2019, 7:27 pm
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Default Re: Advice on cost of living

You are a cash buyer, so after having paid the price of the townhouse, the 1373 eur is for food, car, cloths etc.
Just some figures: We pay approx 70 EUR per month for electricity (without heating), 650 EUR local taxes (IBI etc) for our house, 350 eur for house insurance, 25 eur for internet per month, gaz bottles are not expensive (compared with France and Portugal).
It depends how you want to live, at what standard and what makes you happy. Do you like to dine in a posh restaurant once a week? I think that 1373 eur is possible for a couple, because you are cash buyers. So no further housing costs.
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Old Jan 12th 2019, 11:38 am
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Default Re: Advice on cost of living

Originally Posted by Pilou View Post
You are a cash buyer, so after having paid the price of the townhouse, the 1373 eur is for food, car, cloths etc.
Just some figures: We pay approx 70 EUR per month for electricity (without heating), 650 EUR local taxes (IBI etc) for our house, 350 eur for house insurance, 25 eur for internet per month, gaz bottles are not expensive (compared with France and Portugal).
It depends how you want to live, at what standard and what makes you happy. Do you like to dine in a posh restaurant once a week? I think that 1373 eur is possible for a couple, because you are cash buyers. So no further housing costs.
hi, I’m assuming the figures you quoted above 650€ and 350€ are annual not monthly?
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Old Jan 12th 2019, 12:05 pm
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Default Re: Advice on cost of living

Yes, per annum.
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Old Jan 12th 2019, 1:36 pm
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Default Re: Advice on cost of living

To be honest you know what you can live on in the UK so if the amount you will have allows your lifestyle in the UK then it will in Spain. The examples given so far fit in with my costs to live. It is difficult to be truly accurate as areas do differ slightly some things are cheaper in Spain some more expensive .Alcohol and cigarettes definitely cheaper. Don't get sucked into believing because of weather you will pay less on fuel. Spain in winter months is cold electricity is dearer than the UK and you need to stay warm. Outside isn't generally the issue it's inside Spanish houses in winter are notoriously cold. If you don't have a grand lifestyle and own outright then you should manage. Don't forget as well flights if you need to go back for family or whatever and transport while in Spain. Bus fare generally is much cheaper than UK if you don't intend having a car.
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Old Feb 18th 2019, 2:00 pm
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Default Re: Advice on cost of living

Originally Posted by Pilou View Post
Yes, per annum.
Thank God for that; my heart plummeted, my dream of moving to Spain seemed to vanish in a puff of smoke when i thought you meant monthly, there.
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