Small family cost of living - Madrid
 

Hello first time poster, relocating to Madrid later this year on a job transfer.

Would anyone here have some ideas on what sort of take home salary would allow a small family of 3 a somewhat comfortable life renting a 2/3 bedroom apartment in say the Alonso Martinez / Colón areas with one child in a British International school ?

Edit : Also considering Valencia

Thanks in advance

Re: Small family cost of living - Madrid
 

No experience personally but have friends who live in Madrid. You can get a good idea what you would need based on rental prices and life in any capital is not cheap. https://www.idealista.com/en/geo/alq...onso-martinez/
I sometimes wonder how families manage and it's no surprise why Spain has such a low fertility rate compared to other EU countries. At the end of the day a comfortable life is different for all and only you can do the math. With the same salary in Valencia you'd obviously be far better off financially and at least have the sea on your doorstep.

Re: Small family cost of living - Madrid
 

The Mediterranean is not an ocean!

Re: Small family cost of living - Madrid
 

Deportes acuáticos en Valencia - Ocean Republik - windsurf, kitesurf, surf You have ocean republik close by;)

Re: Small family cost of living - Madrid
 

I’m totally amazed by the question from the OP!

You state that “relocating to Madrid later this year on a job transfer”, which clearly indicates that the decision has already been made to move here.

I would have expected for you to have at least done a back of an envelope calculation, to ensure that you can break even on a month-to-month basis!

I have just done a quick search and there are lots of resources online which enable the cost of living to be estimated. Have you done this?

Re: Small family cost of living - Madrid
 

I live in Madrid with a wife and two kids so I guess I have some idea...

If you want the international school then that will probably cost at least 1000€/month/child, depending on ages, bus routes, etc. (e.g.one of the more expensive options: https://www.hastingsschool.com/admissions-fees/fees/)

Colon is central and has many upmarket areas nearby. Renting a 2 or 3 bedroom flat is probably upwards of 1500€/month. Madrid has excellent public transport, and you can find cheaper, decent accommodation slightly further out, where there might also be less hustle and bustle..

I would then budget 2000€/month to live off. So maybe you need a take home salary of at least €4500/month.

Of course this is a very rough approximation, and depends on things like running a car, how many flights home, age of child, etc, etc.

Re: Small family cost of living - Madrid
 

Hi chopera

That's about the figure i got to as well ( 5k) , so very happy to see our estimates were not too far off.

Thanks for confirming.

Re: Small family cost of living - Madrid
 

"As of 2021 the average salary in Madrid is of around 1600 euros per month. In Madrid salaries usually range from 1000 and 3500 euros a month."

https://checkinprice.com/average-min...-madrid-spain/

That is a VERY HIGH salary for Madrid, or indeed anywhere in Spain...

Re: Small family cost of living - Madrid
 

Most experienced white collar professionals I know in Madrid earn between €30k and €60k. Also most Spanish households I know have two people earning those kinds of wages. So a combined takehome of €5k a month isn't that unusual. Also the OP has specified an expensive area in Madrid and an expensive school, so you'd expect to be earning a decent wage to afford that.

Re: Small family cost of living - Madrid
 

Afternoon choppera,

I hate to be pedantic but:

• The OP did refer to “a take home salary” which is very clearly in the singular…
• The range you specify, 30,000 to 60,000 euros, only equates to 1942 to 3530 euros, take home per month.
• Furthermore, a gross salary of 80,000 euros is required to get a take home or net salary of 4500 euros per month.
• But if you do want to do a bit of goalpost shifting, a combined salary from two people holding full- time jobs would make 5k euros a month quite achievable.

Notwithstanding, all of the above it is a no-brainer, Valencia wins hands down against Madrid for numerous reasons!

Not sure if the OP is aware but Madrid get quite cold during the winter.

A salary of 90,620 euros is required to get a take home salary of 5k euros per month, which the OP referenced.

Re: Small family cost of living - Madrid
 

To give you the Valencia comparison. Rent will cost 800 upwards but if you're considering private schools as well I guess you want to live somewhere nice. City centre apartments with 2/3 bedrooms in nice areas start around 1200. Parking spaces 100-150 each but the infrastructure is good enough not to need a car unless you need to leave the city. Rental cars are still cheap enough plus you can rent Smart cars and mopeds by the minute. For utilities, home internet with 2 unlimited SIMs and TV around 60. Gas water and electric around 150 all in, that's running 2 home offices and a/c when required plus a teenager who doesn't know how to switch off the lights. Cleaners and babysitters are 10 per hour. A decent meal in the city is about 25 per head, you can find menu del dia for 9. The Michelin star restaurants start at 45. My son attends BSV, it's around 8k but that depends on the age of the child. There's a buy one get one half price deal on the admission fee and I believe there's a reduction for the fees as well. 5k would be very comfortable, depending on your lifestyle.

Re: Small family cost of living - Madrid
 

The only reason I can think of that makes Madrid better is its airport has more connections than Valancia.

And as for that airport at Castellón de la Plana, someone for sure took a bribe for it to be located where it is.

But then again that seems to be fairly common here in Spain...

Re: Small family cost of living - Madrid
 

Funnily enough I just booked a flight from there to Stansted. Once Wizzair stop cancelling every other flight it's handy for me as they will fly to Luton and the bonus is the free car park.

Valencia is pretty well served for short haul flights. Not as good as Alicante but it's a lot more efficient due to it's small size. For long haul you just fly to Madrid or hop on the train. If you book ahead, 40 Euro return is possible.

Re: Small family cost of living - Madrid
 

I'm not really sure what kind of point you are trying to make here. All you've demonstrated is that you need a relatively high salary to live in an expensive part of Madrid and send a kid to an international school. Which is what I said. I mentioned the 30k to 60k salary range as an aside, to give an idea of what most white collar salaries are in Madrid, and demonstrate how some households might be able to achieve a 5k net income. Of course some people in Madrid earn more than 60k, and plenty of people earn less than 30k. It's just to give an idea, as a follow up to the link you provided.

Re: Small family cost of living - Madrid
 

That's about the going rate for the part of Madrid I live in. It's not as upmarket as the Colón area that the OP specified, but still quite central and nice enough.

Re: Small family cost of living - Madrid
 

It really depends how much you like cosmopolitan, big city life. Madrid has a lot more going on, in terms of arts and entertainments, nightlife, culture, sports, etc (although you really need to speak Spanish to appreciate it). There is always something to do, some new part of town to discover. However I struggled the first few years I lived in Madrid because I wasn't used to big cities and had grown up next to the sea in England, with easy access to the countryside as well. And I missed all that (I still do, to a lesser extent). Other people come to Madrid and absolutely love it, others hate it. It's horses for courses. Of course the main reason a lot of people live here is for work.

Re: Small family cost of living - Madrid
 

chopera, you're definitely not a maths teacher and logic isn’t a strong point of yours either. I guess you must be the creative type.

As you say chopera, lots going on in Madrid. But like everywhere else, Covid has put a spanner in the works when it comes to 'what on'.

Work is the big magnet for Madrid. But this is not an issue for the OP, as they can relocate to either Madrid or Valencia.

Not sure what the OP does, as the OP has been rather elusive on that point.

Regardless, the OP specified a monthly expenditure of 5k euros which equates to 90,620 euros per annum. CEOs and Directors don't get that here in Spain...

However, assuming the salary will be the same regardless of location in Spain then the OP will get more bang for his buck, if he goes to a lower cost location like Valencia.

All things being equal, the OP appears to have done a Houdini.

Re: Small family cost of living - Madrid
 

There is plenty of information out there which disagrees with that statement. These figures are from a report produced in 2018 but indicate salaries in excess of that figure for CEOs and Directors.

https://www.michaelpage.es/sites/mic...utive_2018.pdf

Re: Small family cost of living - Madrid
 

Lynn, good information you posted. I was just yanking choperas chain, a little bit.

I think the point being that 90k is a rather high salary for madrid.

But I do suggest you take a look at this...

https://teleport.org/cities/madrid/salaries/

The highest salary here is the executive salary which has a median salary of 83,781 USD, so when converted from bucks to euros is 71,448.877 euros!

Regardless, we deviate from the point. The OP never specified his profession, but has estimated he would require 5k euros per month to live.

O well, I was getting that back in 2010, in Spain, when I was on the Beckham scheme. I don't suppose the OP even knows what that is... Be worth his time finding out...

https://cimg2.ibsrv.net/gimg/british...8f14dbe127.jpg

Re: Small family cost of living - Madrid
 

What an arrogant conceited little troll you are. The OP has probbably disappeared because (unlike you) I answered his/her question and they don't want to engage with idiots who have nothing to offer apart from starting arguments with other posters, trying to insult them, and generally derailing the thread. As it happens I managed to earn over €50k in Madrid as a software developer (is that "logical and mathematical" enough for you?), and I got nowhere near CEO level. Plenty of developers I know got a lot more than me at companies like Accenture, Santander and Microsoft. To suggest that CEOs and Directors don't get €90k in Spain demonstrates you have absolutely no idea what you are talking about. Do you really think the CEOs of companies like Zara, Santander, BBVA, etc don't earn well over €90k?

Re: Small family cost of living - Madrid
 

The OP posted at 10.11 am today so he definitely has not disappeared.

Rosemary

Re: Small family cost of living - Madrid
 

What an extraordinary outburst!

I hope you feel better today.

Re: Small family cost of living - Madrid
 

I wouldn't think 90k is high for an exec in Madrid. That number will be low because the the small and medium tech firms give executive titles to lower paid workers. The Tik Tok generation are motivated by their title. Most executive expats would be earning more than that. You have to consider they're relocated for a reason and get a whole load of benefits including housing and education grants. The freedoms we lost in Brexit mean you're unlikely to see a new expat employee earning a low salary. The others are the digital nomads and IT consultants, they aren't working for less than 400 per day and with the social security and tax breaks given to newcomers they're sitting pretty.

Anyway, I'm sure the OP came for advice instead of a peeing contest and green eyed monsters. If you want any real life experiences of Valencia city life and schools, send me a message. Chopera sounds like your best option for Madrid.

Re: Small family cost of living - Madrid
 

Regardless of averages and what other people earn, it's down to each individual to decide how much they need to live a comfortable life.
Income inequality has always been high in Spain and it's not as if earning €50K in Madrid is a huge amount either, plenty of people would be happy if they had this amount though.

Re: Small family cost of living - Madrid
 

SanNico only the open forum is possible at the moment because he cannot message you yet.

To the OP...... you have two very knowledgeable, reliable and helpful people happy to answer your questions and provide you with an insight into living in Madrid and Valencia so ignore all of the unwanted and unwarranted additional argumentative posts and concentrate on the information from SanNico and Chopera.

Rosemary.

Re: Small family cost of living - Madrid
 

As always - Valencia.. If not for anything else - the weather. Equal distance to Madrid or Barcelona.. The local government also seems to be better run than Madrid or wanna be out of Spain Barcelona..

Re: Small family cost of living - Madrid
 

My wife and moody teen are both quite keen on Valencia, so your insights will come in handy, thank you.

Agreed.

Re: Small family cost of living - Madrid
 

I am very biased towards Valencia but must say that I love Madrid too and that is from someone who dislikes large places. Have you all experienced both cities? Why are they keem on Valencia? Agree with those who mention that Valencia is not as cold as Madrid in the winter but also wanted to say that in the summer many people from Madrid head to the Valencia coastline as it is cooler for them than their city.

Rosemary

Re: Small family cost of living - Madrid
 

All things being equal I have Valencia down as the Number 1 location in Spain to live. No debate!

Re: Small family cost of living - Madrid
 

It would be interesting to hear where the OP lives now and what they expect from the move? I'd say Valencia offers everything you need and if you consider that both places have flats, a football stadium and plenty of Starbucks, the benefits of saving more and a beach on your doorstep are clear.

Re: Small family cost of living - Madrid
 

Moody teens I can vouch for. If already in the private system they make friends easily as they all seem to have mutual friends, even in different countries. Here's a list here of schools in both cities, scroll down to the 3rd list.

The 30 best valued public, private and concerted schools in Spain (elconfidencial.com)

The central area in Valencia is also around Colon, so that should make the house hunt simple. Anything between Calle Colon and the towers is considered the city centre so prices are higher. Just south of there, although still fairly central, are the areas of La Gran Via and Russafa. A bit cheaper but still very nice.

Right now you may be able to pick up a bargain rental on Placa de la Reina. They're appoaching (April) the end of a huge renovation project where a lot of the tenants vacated due to the noise and dust. Some landlords have taken advantage and renovated the apartments too. The digging is almost finished so from November onwards it should be light construction for a few months. Valencia: The reform of the Plaza de la Reina recovers the monumental scale of Santa Catalina, the Micalet and the Cathedral | Valencian Community | THE COUNTRY (elpais.com)

Re: Small family cost of living - Madrid
 

I'm curious, where do you/did you live in Spain? I only have weekend visits to compare it with other cities but would recommend it compared to other European cities. I have colleagues in Madrid, Barcelona and Seville and we argue that we live in the best city. The only thing 3/4 of us agree on is that Seville is not the correct answer.

Re: Small family cost of living - Madrid
 

Well, I am going to be changing location in Spain soon, so where I end up remains to be seen.

You would only get me kicking and screaming to live in Seville. Far too hot for me during the summer.

Madrid is arguably one of the best capital cities in Europe, in terms of work-life balance. Low crime, attractive city, lots going on, very cheap and excellent transport infrastructure. But very Spanish city. The list goes on.....

Barcelona, politics and independence movement are a big issue. Otherwise Barcelona the surrounding area has to be one of the best places in Europe to live. But, I don't have any time for anything Catalan. Did plan to buy in Castelldefels, but scrubbed that idea a few years back with all the independence nonsence. But Barcelona is quite an international city when compared with Madrid.

Bilbao, too cold and wet. The natives have bad press as being stroppy. I have no experience Basques, so cannot comment.

Re: Small family cost of living - Madrid
 

Please don't mention Valencia, Madrid and football in the same sentence again this week. I had the pleasure of sitting next to a Real Madrid fan on Sunday night. He was a very gracious winner.
https://cimg5.ibsrv.net/gimg/british...2547a5617.jpeg
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Re: Small family cost of living - Madrid
 

I would never live in one of these large cities personally and also far too expensive for housing. We do have a place 1 hour drive from Barcelona and the independence movement has never bothered me really.
It might be more extreme in small villages but I can ignore it and we are closer to the coastal touristic areas.

Re: Small family cost of living - Madrid
 

Yes, cost of housing in Spain is astronomical!

Interested in your perspective that you can just get on with life and just ignore them...

Areas both north and south of Barcelona are great.

Sitges seems like a nice spot and within commuting distance of Barcelona.

Re: Small family cost of living - Madrid
 

In fairness I am not a full time resident and only a holiday home, so the rest of the time I'm in Ireland;). I suppose I'm just not bothered one bit about the politics and just accept that I'm a foreigner and let other people talk. Apart from that I do find the Catalans to be honest/reliable and you seem to hear less of the mañana. Since we are not that far from Blanes & Lloret (which I must say has improved a lot in recent years), you have more of an international feel and people are quite relaxed. I do avoid the main beach when the younger tourists are around and off season it's a complete different town. I do prefer Tossa which is around 15 km further, but houses were not within my budget:eek:. In any case it's very easy to drive to a nice beach, cove and we are in the urbanizations outside the town. Sitges (although not cheap) is also nice and the Maresme coast is a good option for those working in Barcelona. https://www.theguardian.com/travel/2...pain-catalonia

Re: Small family cost of living - Madrid
 

Some years ago, I travelled both north and south of Barcelona checking out the various towns on the coast looking for a place to buy. I recall the roads were twisty turny going north whereas south they seemed to be better. Will take a note of Maresme coast and have a look at again at some point. Sooner or later I will be buying here. Just sittng on a shed load of investments at the moment instead.

I see Barcelona goes direct to Dublin and Belfast City and Girona gets you to Dublin also. I guess then based on your location Girona would be better, but there seem to be less flights.

Re: Small family cost of living - Madrid
 

I prefer driving to be honest. We usually take the ferry to France and have also booked the Bilbao route recently.
It also allows to bring back plenty of wine:drinkwine:. Yes you have a lot of twists and turns between Lloret and Sant Feliu de Guíxols.

Re: Small family cost of living - Madrid
 

​​​​​​​Lol, nice view though