htomm76

Hi all,

I am new to the forum.

I have recently inherited from my parents after being their carer for the last 10 years. I have very little family here, and what I do have is distant. I'm past the age of nightclubs and a perfect day for me would be walking my dogs by the beach.

I estimate that I have enough to purchase a 100,000 euro property in Spain, although I would obviously rent for a period first to see if this ideal lifestyle is what I'm hoping for.

After that, I would have a slush fund of 30,000 euros and would receive 1,800 euros a month from renting properties in the UK.

What kind of lifestyle would this give me?

From looking at other posts it seems if I live in a community site I don't pay council tax but more of a charge that I equate to living in a flat here in the UK, a maintenance charge. What is this on average?

What could I expect to pay for utilities?

What are car costs like? Do you have car tax or is it only on fuel and insurance? Ideally, I'd run something like a 4-year-old Volvo S40 if that helps.

I don't smoke and seldom drink, but I am a foodie, not necessarily eating out, eating in as well.

I am a huge sports fan so having a decent TV, internet and TV package is key.

I know I am a dreamer and over think things and should just do it, but I want to find out as much info as possible.

If I stay in the UK, due to the high prices I would have to look at going back to work. Whilst I hated the idea of giving up work back when I became a carer, I'm now a changed man and would rather get the most from life with what I have. I've just turned 40 by the way.

Thanks in advance for your replies.

Tom

BigD Nerja

Tom you would have a v high standard of living. Two of us on the Costa del Sol; all utilities, running a car, full UK TV package, unlimited Internet, 2 mobile phones, eating out 4-5 times a week cost 1-1200€ a month. This does not include rent which can range from 2-300€ a month for a small flat to a couple of thousand for a large villa with private pool.

Enjoy and I can highly recommend Nerja. All beaches dog friendly out of season.

Moses2013

€1800 is more than most people have and is that guaranteed? As long as you have taken everything into account, private pension, exchange rates, taxes, then that's a great amount. How secure is it to just live off rental etc.

Rosemary

Hi and a warm welcome to the Spanish forum on BE. Myself and Fred James are the moderators for the Spanish forums whilst BEVS moderates Europe. Moderators are there to ensure that the site runs smoothly within the rules of BE. This is so that members gain the information that they are looking for and find their experiences on the forums to be friendly and worthwhile.

Problems and complaints should always be addressed to a moderator who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are usually friendly and helpful with a wealth of knowledge about the issues of living in Spain. I hope that you enjoy your time participating in the forums.

Please let me know if you need any further help.

Rosemary

scot47

Why buy ? Rent a place - until you find that things are working out.

Bo S

Its a lot of money for one person and two dogs You will live well so will the dogs. Don't forget holidays, private health care insurance, trips to the UK re your assets and affairs costs and possibly local legal advice fees.

Keep the £30k for emergencies.

Go for it!

http://moneysavinginspiration.com/wa...-planning.html

Bo S

He does suggest this as an idea.

olivefarmer

Spanish Income Tax?

Loafing Along

I think the allowance today for a single person is about Euro 5.500,- thereafter 19% on the next Euro 12.450,- and then 24% above that.

What do you need to "survive" in the UK ? If you can "manage" on the sterling equivalent of Euro 1.800,- ( it changes every day at the moment ) you will be OK in Spain with a better quality of life. Good weather and plenty of beaches to walk the dog as long as you don't do it in the summer months in the popular areas.

Loafing Along

If you own a property you pay municipal taxes, normally collected once a year or every six months and also a refuse collection tax in addition to any community fees. Community fees vary tremendously depending on the type of services, size of the community and its age - three major categories : gardening, pool, lifts and then rest, common water, electricity, insurance and so on.
Utilities - Electricity fairly expensive,( air con in summer and heating in winter ) comparable to UK (?), water, at least in Andalucia, cheap.
Cars pay annual road tax,varies with model, engine emissions, fuel type etc, insurance plenty of good offers. Car has to have bi-annual inspection after four years, annual after ten years.

rspltd

I believe you will also have to declare your rental income to UK tax authorities.

Loafing Along

I believe you will find if you are a Spanish resident the Spanish taxman takes priority - they want their slice of your worldwide income. So even if the rent is earned in the UK it should appear on the Spanish declaration

BigD Nerja

Regarding the tax, there is a dual agreement with Spain so you can claim relief in either the UK or Spain depending on your circumstances. Best to seek professional advice if you go down this route. Alternatively if you are renting then many people don't tell the Spanish authorities anything and just pay UK tax via self assessment.

Neptuno

If you retire at 40, what are you going to do for the next 60( possibly) years?
Golf, charity work etc ?
By the way you're probably very eligible now!
A la Mrs Merton, "what attracted you to the wealthy expat....?"

jogger

I think you have an excellent prospect ahead of you and you should grab it with both hands. You seem to have a reasonably cheap lifestyle as in walking the dogs on the beach etc. From your OP you won't be flying back to the UK every month to see distant relatives and being a fairly young age, if you are healthy your health insurance will be very reasonable. Lots of people like BigD have given you great examples of living on a reasonable income. If it was me I know what I would do.
PS: Property is still cheap, which I'm sure you are well aware, I'm in the process of buying a place and we are moving over early next year.
Good Luck