russcane

Hi all,

My name is Russell and I am 33.

My father passed away 2 years ago leaving me with a large inheritance.
I bought my brother and sister out of his house and I currently live there with my cat.
I work in a job that is mundane that I do not enjoy. I live in a house that is worth 80k more than what I need even in the area I live in.
I want to quit my job, sell the house, contents and car, live with my sister or mum if need be before taking the plunge and buying somewhere.

I want to do something huge and move abroad. Likely destinations being places in Europe, Spain, Tenerife, Greece, Malta etc. Preferably English speaking but I am willing to learn a language if need be.

I am looking to buy a property outright for approx £30,000 leaving me with six figures in my account.
I still want to work, beit bar work, security, restaurant waiting etc. or the other option is to buy and sell on ebay as a source of income.
I also have new website ideas but do not have the means or experience to launch them, that's something to look at in the future by employing a web developer first but bar work etc is a first port of call.

As I have never done anything like this before I literally need to know everything.

Best places for English speaking?
Best places for work?
Best places to take a cat with me?
Living costs of these places, ie. council tax, if an apartment upkeep costs etc.
My position as staying as a UK resident?
And literally anything else, I seriously know nothing about the subject.

I will appreciate all advice however small it may be.
I loved my father to pieces but as I am now in a position of power and I don't need to work here in a job I don't want to be in and in a country that I have no need to live in I need to sort my life out and do something about it.

Please, please, please could you all help me with some ideas on what I should do and how I should go about doing it?

My current idea is to sell the house, contents and car and move over to let's say Spain and rent somewhere, if I like the area, think it'll be good workwise etc then look for 2 apartments to buy. One to live in, the other to rent as at least some form of income. Both 30k ish so 60k total, still elaving me with plenty of funds to fall on.
Is this a good idea?
What would be the best areas to consider? It'd need to be busy enough to find work and guarantee that I can rent out the second apartment but still cheap enough to get 2 apartments for that price.
I'd need to know appox rental costs in Spain for 1/2 bed apartments for as soon as I get there plus what I'd expect as an income on the one I'd rent,

Many thanks, Russell.

cricketman

Hi Russell

Your budget is way too low for Spain. You need at least 4 times as much

Even with the Spanish housing market being really bad, you cant really get 30k flats, certainly none which you would want to live in, or which holiday makers would want to stay in

You could maybe get a half-decent 1 bed flat for 70k-80k in the South. They would rent out for about 300 euros per month

If I understand correctly, when you sell your house then you will have maybe 150k, then that is a nice amount to have a nice holiday for a few years. But you need 3 or 4 times that much to be thinking along the lines you are thinking. Given that you are 33 (and not 23) then I'm not sure what would be best for you.

Maybe a year travelling around the world would be better?

Rosemary

As Concierge for the Spanish section of BE I would like to say hello and welcome.

BE is a very large expat website, so if you have problems finding your way around we have concierges who will try to direct you. The moderators for the Spanish forums are Mitzyboy and Fred James, moderators are there to ensure that the site runs smoothly within the rules of BE. Problems and complaints should always be addressed to a moderador who will look into the matter and deal with it efficiently and fairly. Our members who post in the Spain Forums are friendly and helpful with a wealth of knowledge of the issues of living in Spain. At the top of the page you will find a quirkily named thread called Free Beer which is full of important and useful information. Hope you enjoy your time participating in the forums.

Please let me know if you need any further help.

Rosemary

russcane

Hi Cricketman,

Thanks for the reply, it's appreciated.
Yes you assume correct about 'roughly' how much disposable cash I will have.

I have scanned properties overseas and there are many for between 25 and 50k that looked reasonable inside but as I mentioned I am a complete newbie and haven't a clue about it all.

I need to research heavily.
Any other countries you can recommend for my budget and ideas?

Thanks.

andyrich666

You should watch the last few 'A Place in the Sun 2014' on 4oD

There was some right bargains which are perfectly habitable for about 35,000€

There is a 3 bed cheese house here on a Urb, not for me but easily rented out to mugs like me in the summer for 57k, at the end of the day its just bricks and you make it what you want.

IamStu

Hi Russell,
Sorry to hear about your Dad and I hope you work out what you want to do.
To be honest, your plans seem sketchy at best.
I agree with CM on the price of flats. 30-50k won´t but you much at all.
Think 80-90k and you´re in business.
I´m a bit lost on the "internet" idea especially as you don´t seem to have any knowledge of the subject.
I don´t want to burst your bubble but you have to undertand, Spain is awash with web builders. Bi-Lingual ones at that.
There is a bar near to me so let´s say you took a job there. Expect very long weeks and low pay because again, the demand for work is very high.
My advise to you mirrors what Cricketman said. Pack your bag and travel through. Learn what living in Spain means. Only then can you make such decisions.
Afterall, it sounds as you need some time out!
Please don´t take this as a negative. I´ve lived here for nearly 3 years. I have my own business and wouldn´t want to be anywhere else. I´ve only been able to do this as I have a Spanish wife and we researched endlessly!

andyrich666

Stu Im sure you could have done that without. Its not rocket science there is plenty of help around if you look for it.

I am considering opening a shop, As much as I would welcome a pretty Latin wife, I don't need one to open a business.

I don't know if I want to go back to a retail type of business though because I cant stand whingers, I much prefer dealing online but I also see so many people here being striped up by clueless idiots.

steviedeluxe

I'm given to understand the OP wants to hire a web builder - you can do that via various outsourcing sites like elance.com But the chances you'll hit on a profitable venture first time, when there are millions of people worldwide trying the same, are pretty slim.
I'd agree with the advice already given. Start to learn a language in a new country - it could be Spain, or it could be Germany or even Turkey! Start building up contacts and ask around for examples of businesses that appear to work well. And hold off selling property until you're fairly confident you have various business options to persue. It's often the case that a successful business person started off in one area and then through circumstance found a more profitable way to make their living.
I hope this doesn't seem condescending, but it may be that a course of counselling or therapy, may help you to establish what you are really after in life.
Good luck in whatever you choose to do.

jackytoo

I know many who thought buying a property to live in and another to earn income. Doesn't work for most. We bought a few properties for investment. Fortunately we realised it wasn't working during boom time. Many are now stuck, can't rent them and having to pay taxes and Urb fees, including some friends. Invest in BTL in the UK and go and rent for a while.

mikelincs

Doesn't really matter which EU country the OP wants to live in, he will have to lern the language, as, although he wants to live in an Englsih speaking area, all official matters will be in the local language. The idea of working would seem to be a good idea, if the ecconomies in those countries weren't so far dowm the toilet. The UK ecconomy is almost the strongest in the EU, and unemployment here is less than the vast majority of countries. People in Spain are desparate for jobs, and are working on the black for well under the minimum wage, I knew one person there who took a job in a bar advertised at €5, she though this was per hour, but no, it was for the evening. She lasted just the one evening, but they were getting people to work there for that.
There is NO benefit system to help you, and healthcare would either have to be private, or you would have to pay the autonomo rate of almost 250€ a month to get state coverage.

Retired in Euskadi

Have you looked at Malta? My father was from Marsaxlokk, a very pretty fishing village in the south.
At least English is widely spoken, to the extent that even Spanish people go there to learn/improve their English! Maltese as you are probably aware is an Arabic language, wholly different to learning Spanish.
It's 1 hour's flight more or less from Madrid even.
Sorry I know nothing about property prices, but a trip there would be worthwhile to scout around.

crookesey

I presume that the bar job was very dependent on tipping, I recall reading that the commissionaire at The Ritz actually pays the hotel for the privilege of acceping the tips.

andyrich666

Is it really that close ?

I guess maybe it is, I have always fancied a trip to Malta, not considering now that I live here just how close parts of Med Europe are to here now.

I think I will take a hol in Portugal this year, but I would take a few days in Malta if the flight was reasonable, bit of a trek to Madrid though !

Retired in Euskadi

Madrid's 4 hours in the coach from here; more for you I guess.
I'm pretty sure it wasn't more than an hour & a half. Certainly not the 4 hours from Britain.
Avoid August; too hot. and Buggiba…..like Blackpool!

jackytoo

We once thought we would like to fly from Malaga to Faro for a break. Only way was via Barcelona or Madrid at a cost of 280€