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Looking to retire early. & need advice on monthly spenditure

Posted: Wed May 20, 2020 3:08pm
3 replies157 views3 members subscribed
Mrstt

Posts: 1

Location: Olula del Río

Joined: 20 May 2020

Hi. My husband & I are lookibg to take early retirement & move to Spain. We would like an idea of average monthly outgoings for 2 people so wr can budget & see if it is pheasable. Also would like to hear from anyone that chose Olula del Rio & hear of their experience. Many thanks

Jack

Posted: Wed May 20, 2020 4:07pm

Jack

Helpful member

Posts: 196

205 helpful points

Joined: 8 Oct 2016

Posted: Wed May 20, 2020 4:07pm

So many answers to this question.

Firstly the type of house? Villa, cortijo, apartment.

Heating/air con

Pool or no pool?

Electricity is slightly more expensive than UK.

Car tax is cheaper as is IBI ( council tax ).

Don’t forget about a car, repairs, ITV ( MOT ).

The type of lifestyle you want? Eating out is cheaper but doing it every day can add up.

Groceries about the same cost.

One main thing to remember if your income is coming from the UK it’s highly likely that sterling will fall steeply, it already is approx 1.11 at the moment. So base it at level and don’t rely on getting more.

I honestly would calculate what it takes for you to live in the UK and say it will be the same here.

Matthew

Posted: Thu May 21, 2020 9:34am

Matthew

Very helpful member

Posts: 497

542 helpful points

Location: Mojacar

Joined: 16 May 2018

Posted: Thu May 21, 2020 9:34am

You're asking questions that everybody would and Jack's post is on the button. But, we don't know if you want a car available to you, we don't know what activities you want to enjoy or if you're just fed up with northern european weather. I bet it's the weather.

Back to the Basics:- The only way you'll know if Spain is for you is by moving out here. As soon as you can rent an apartment/duplex/house/villa/cortijo in the off season (Oct, Nov, Dec, Jan, Feb, Mar,Apr). You could rent a good two bedroom apartment, centrally located, within a few mins walk of beach, supermarket, restaurants for about €675 per four weeks (Euros not GBP£) inclusive of electricity and the other utilities. You're thinking getting an apartment to rent and dealing with estate agents is hassle. Believe me, it is almost as easy as buying a bar of chocolate but remember you must take the first easy step. If you spend 5/6 weeks continuously in Spain you'll know if it is for you. You'll want a place near a bus route too. Most likely you don't need to be out in the sticks (initially at least). Keep an open mind and don't do anything stupid.

Don't sell your home in the UK. If you do you'll burn any hope of a dignified retreat if necessary. 

Don't die wondering if Spain is for you? Try it out asap. It's never been easier.

Lowie1960

Posted: Thu May 21, 2020 3:02pm

Posts: 27

7 helpful points

Location: Albox

Joined: 10 Aug 2019

Posted: Thu May 21, 2020 3:02pm

I will TX you later tonight.  Terry

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