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Is it possible to live in rural Spain on a limited income? .

Is it possible to live in rural Spain on a limited income? .

Old Aug 21st 2016, 4:22 pm
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Default Is it possible to live in rural Spain on a limited income? .

Not been over there for a while so I am not sure how dear it is now? I have a small pension income of approx £850 pm. Is it possible for a couple to live simply on this amount in locations away from the cost? We would buy a property outright so there will not be rental charges to take into consideration.

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Old Aug 21st 2016, 5:00 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Just about, I would have thought...but only just.
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Old Aug 21st 2016, 6:47 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Yes

but the problem is that when you have a sudden or unexpected expense you need a reserve to draw on.

E.g. teeth failing, car going faulty. Boiler packing up, Relatives in UK needing your presence. Vet bill.

Don't spend all your cash on the property, keep a reserve.
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Old Aug 21st 2016, 10:11 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by Gray C View Post
Not been over there for a while so I am not sure how dear it is now? I have a small pension income of approx £850 pm. Is it possible for a couple to live simply on this amount in locations away from the cost? We would buy a property outright so there will not be rental charges to take into consideration.

Thanks
Graham
One member does ( Baldilocks ) so he often says.
650euro a month and that is for 3 adults and a dog.
Takes 2 holidays a year & can also save from that as well.
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Old Aug 21st 2016, 11:12 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by VFR View Post
One member does ( Baldilocks ) so he often says.
650euro a month and that is for 3 adults and a dog.
Takes 2 holidays a year & can also save from that as well.
As Baldilocks has not been on here since April 2014 it is not a good idea to quote his statement on finances as though it is current.

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Old Aug 21st 2016, 11:31 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by olivefarmer View Post
Yes

but the problem is that when you have a sudden or unexpected expense you need a reserve to draw on.

E.g. teeth failing, car going faulty. Boiler packing up, Relatives in UK needing your presence. Vet bill.

Don't spend all your cash on the property, keep a reserve.


Owning a property brings other expenses just got hit by the annual Council tax ( IBI ) and Rubbish collection tax on our apartment, always comes in August . Paid first installment of Income Tax in June, second coming up in November .Washing machine died early last year . Fridge a couple of years ago. Our dog developed allegies late last year ,intense three months treatment, still going on fortunately at a lower level. Bit on a piece of cake a couple of years ago , Euro 1.500,- in dental treatment . Cataract op last April . Day to day fine but yes the "Unexpected" is always around the corner .
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Old Aug 22nd 2016, 1:58 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by Loafing Along View Post


Owning a property brings other expenses just got hit by the annual Council tax ( IBI ) and Rubbish collection tax on our apartment, always comes in August . Paid first installment of Income Tax in June, second coming up in November .Washing machine died early last year . Fridge a couple of years ago. Our dog developed allegies late last year ,intense three months treatment, still going on fortunately at a lower level. Bit on a piece of cake a couple of years ago , Euro 1.500,- in dental treatment . Cataract op last April . Day to day fine but yes the "Unexpected" is always around the corner .
Sounds like the basic for lyrics to a country song. Just put it to music and you're away!
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Old Aug 22nd 2016, 2:05 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by Gray C View Post
Not been over there for a while so I am not sure how dear it is now? I have a small pension income of approx £850 pm. Is it possible for a couple to live simply on this amount in locations away from the cost? We would buy a property outright so there will not be rental charges to take into consideration.

Thanks
Graham
Don't regard £850 as a small pension! Is that a private pension?
Are you under state pension age?
May seem nosey, but these things affect the situation?
Some do live on state pensions, but usually two of them so that's more doable
If you just had a small flat, or villa ,modest lifestyle, then yes, you should manage. If you have state pensions coming in the future, then you'll be ok till then
As someone said you have to have a cushion for emergencies, so could you reserve some money from your house sale and buy a smaller property?
What are you doing about healthcare?
You do realise that you will have to go private for a year with Spanish health insurance?( if not state pensioners)
Do you know the financial requirements for residency?
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Old Aug 22nd 2016, 2:07 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by Rosemary View Post
As Baldilocks has not been on here since April 2014 it is not a good idea to quote his statement on finances as though it is current.

Rosemary
Plus Baldilocks says he has a cushion to fall back on, and has other sources of income, not just state pensions!
However, he still manages to live frugally, apparently!

Last edited by Neptuno; Aug 22nd 2016 at 2:12 pm.
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Old Aug 22nd 2016, 2:16 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

I see it this way. It doesn't matter where the OP lives and you could say Is it possible to live in rural UK on a limited income? At the end of the day the £850 won't change. Of course you have to consider having money for emergencies and the other points regarding health care etc.







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Old Aug 22nd 2016, 4:31 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

You should also consider whether one or other of you can live on the remaining income should something happen to the other partner.
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Old Aug 22nd 2016, 4:37 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Remember since Brexit £850 has dropped from over Euro 1,100.- to Euro 950,- and not so long ago it was worth Euro 1,200.- Prices in Spain have not changed they have just got more expensive if you have a sterling income.
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Old Aug 23rd 2016, 12:35 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

I do not think that there is a difference in cost of living in rural areas vs villages/towns. The prices are the same... (if no rent involved)
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Old Aug 23rd 2016, 1:32 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

I would suggest it would be more expensive to live in a rural area where a car would be required.
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Old Aug 23rd 2016, 8:15 pm
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Default Re: Is it possible to live in rural Spain on a limited income? .

Originally Posted by Gray C View Post
Not been over there for a while so I am not sure how dear it is now? I have a small pension income of approx £850 pm. Is it possible for a couple to live simply on this amount in locations away from the cost? We would buy a property outright so there will not be rental charges to take into consideration.

Thanks
Graham
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