can we afford to live in spain - Page 5

Hi. I read your question with a lot of interest because my wife and I are in Spain right now. We're based in Vera Playa and are exploring the area for a place to call our new home. We are retiring and but for a few Euros interest from a savings account, our source of income will be our pensions (some state and some private). Thererore your question is highly relevant to us.

Here's what i have discovered so far.

A few months ago, I was pointed in the direction of an article which stated that to live a reasonably comfortable life in southern Spain, you would need around $20,000 US per annum. Thats around €18,000. Having asked a couple of friends who have been living in Spain for 7 years, i was assured that this opinion is reliable.

Moving forward to the present time, as I said, we're here right now and i recalled your question, which I first saw a few days ago. I have been asking that question myself. All I can tell you is that your figure of €1500 per month will work very well.

A very good tip i picked up only yesterday was to avoid shopping in the Spanish equivalents of Sainsbury's or Tesco. I was particularly advised to avoid the Consum chain, who apparently aim all of their prices at "tourists." Stick to the local supermarkets for much better value.

The other tip you should consider carefully is to learn to speak Spanish. Not only will it make your life easier and richer for all the obvious reasons of integrarion into your new home, but it will also mean that when the old lady ahead of you in the queue at the panadaria gets charged €2 for an item, and your asked for €3 for the identical item, you will know, you will ask why, and now its known that you "hablas espanol," it will probably never happen again. It may seem like we're straying off the point of your original question, but it helps to protect your budget.

Bottom line from what I have learned is that you will have a comfortable life on your budget in Spain, but sadly not so in the UK. Hope this long, rambling answer is helpful.

Best wishes. Lee.

We plan to sell up in the next couple of years could you tell me why you think Vera is a good place to live.

I just wondered with bexit looming are the property prices rising and what are the extra cost in buying a property

Ummm 1500 is not that much to be honest  if you need to pay rent out of that plus bills. A few things in Spain are cheaper but not much. Everything else including electric is expensive   

Just to clarify a couple of things.

We're not looking in Vera. Buying a coastal property doesn't work for us. We want a detached villa, pool, a reasonable bit of outside space, etc. Simply not available near any Costa. And if it is, prices are crazy.

Hence, we're concentrating our search along the Valle de Almanzora.

As for budgets. Different folk have different needs, and indeed different depth pockets. We will be buying for cash and will be totally debt free. So, we only need to fund food and utility bills, plus entertainment. From where my wife and I are sitting €1500 a month is a very good sum, and we are very fortunate in that our pension income exceeds that sum.

at this moment in time I would have thought you would be better off getting a mortgage(if you can) and saving the bulk of your cash why?

1 we do not know how the political situation is going to turn out post brexit ( I think no change).

2 if you decide after a couple of years it is not for you,or God forbids something happens then at least you still have a house you can sell AND more importantly your cash lump

3 mortgage interest rates are very low in Spain at the moment with possibilities of fixed terms at apx 2.5%

4 property is now beginning to pick up in Spain so you could offset the gain against the pain of the mortgage

5 if after a while you do decide it is for you till the grim reaper appears then just pay off the mortgage

There's a certain amount of logic to the suggestion, BUT, yeah you knew there was a  "but" coming. The missus and I would find it all but psychologically impossible to settle up £20,000 of debt in the UK, jump on a plane and swap that for another dèbt, somewhere north of €230,000. We got married in 1975, and from then until this very moment, as I'm writing this reply, we have owed money. Its a burden we've carried without complaint for 44 years. We want to see an end to it.

Being absolutely honest, its because of the timing of the purchase of our current home in Essex, that I am still having to work full time. I've had enough. I've had 53 years of full time work and I want to put my feet up, in the sun, by my new swimming pool and relax in the full and certain knowledge that I dont owe a penny/cent to anybody.

As for Brexit, you might want to check out some new legislation passed by Spain in preparation for No-Deal or otherwise. Unlike the twats in Westminster, the Junta in Madrid are actually awake and prepared. Also, we've watched this farce from front row seats since June 2016, and we flatly refuse to put a hold on plans we have been making for the last 15 months while a pack of lying, self serving, juvenile cretins add yet another balls up to the growing list of balls ups.

Whatever happens in Spain cannot possibly be worse than what has been happening to the UK since 1997.

Hi all Spain is no longer a cheap place to live. I lived there 30 years. Since the age of 20. Was married to a Spaniard for 10. Now back in UK. Every country has its charm. There is no paradise. Two acquaintances died because of drink. Many others had drink problems. Ex pats should integrate but most don't. Learn Spanish before you go to Spain. don't treat Spain as Britain in the sun. Most of my Spanish friends avoided areas with all the ex pats who couldn't or wouldn't learn Spanish and just stuck together. 1500 sounds OK but if we leave EU I believe you will have to prove you have more than that to get residencia. I will return but Spain is not perfect but Britain is not that bad either. Its disheartening to hear people talk badly about Britain. They now have a good lifestyle because of Britain. Work is hard to find in Spain. There's enough of Spanish on the dole. You will need a work permit if we leave the EU. The employer will have to prove that they cannot find a EU citizen to fill that job. So you may work illegally but that is high risk. Suerte. Viva España 

Hello 

Your monthly amount is plenty to pay your bills run your car and have a few eating out nights a week . Lots of people live on less here.

So you enjoy your life here and go for it it’s more than enough.

Town halls organise free Spanish lesson, they are helpful with mostly everything and there is always someone who has English.

Good luck for the future 

Positive Scot Mags

Take the advice Kev gives.  It’s very sound !!

Could not agree more old mate, Going into that sort of debt would require serious considerations. We moved here like yourselves debt free after years of working our asses off to service debts....the only good debt was the mortgage on the council house we bought on the right to buy scheme years ago and made a decent profit for us to retire in our late 40's, the rest was on cars,credit cards etc etc. Never again. Living here with just the cost of the monthly utilities and entertainment debt free is a great feeling. NEVER AGAIN :)