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01 Feb 2016 20:42 by dav306 Star rating. 4 posts Send private message

Hi I`m new to the forum. Planning to move to San Javier area in the near future. Will be letting my UK property to fund the new lifestyle (with some savings) as I am not pension age yet but keen to make a lifestyle change. Am I being unrealistic?





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01 Feb 2016 21:14 by newworld Star rating. 841 posts Send private message

You will need to be getting £800pcm for your UK rent to cover your out going in Spain, you dont say if you are buying or renting in Spain, are you on your own ?. You will pay tax in Spain on your UK property if the spanish tax man gets to know you are renting.





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01 Feb 2016 21:57 by dav306 Star rating. 4 posts Send private message

Hi thanks for the reply. I would be renting the smallest property I could find in the area, accompanied by a partner who is also some years away fron pension age.





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01 Feb 2016 22:17 by mariedav Star rating. 646 posts Send private message

A bit of an impossible question to answer, I'm afraid, as we know nothing about your income, your lifestyle, your health state and so on.

Hundreds of thousands of Brits have made their homes in Spain and, contrary to perceived ideas, the majority are under pensionable age. A couple can live, fairly comfortably, on €1000 a month but this would be difficult if you run a car, pay rent,  need to pay health insurance for pre-existing conditions or even find you can't give up UK luxuries like baked beans or Iceland frozen gateaux.

Even if you get a cheap flat rental (and some studios go for around 200 a month) your utility bills will be at the minimum 100 euro a month (more like 150+ if you don't constantly scrimp). 

However, we are all different. I would say go for it as you may constantly regret it in future if you don't.  You'll certainly know after 6 months if it's working out for you and 6 months is not much of an investment. 

We retired here well before retirement age (but have now reached it). I wouldn't have changed what we did for anything but we did have good savings and pensions to back us up. It hasn't worked out for some people as the didn't realise it's not a permanent holiday or missed family more than they thought. 

Best of luck whatever you do,

 

 

 





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01 Feb 2016 22:33 by windtalker Star rating. 921 posts Send private message

If you are only relying on one rented house in the UK to fund your stay in Spain as Newworld said you would need to be getting a big rental return after  tax and management fees to do this realistically you will need approximately 1200eu per month to live on when you factor in the rent /IBI /electricity / water you will be left with approx 700 pm for two to live on food is about the same price from supper market's as the UK  I am sure you can work the rest out yourself .

 


This message was last edited by windtalker on 01/02/2016.



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01 Feb 2016 23:33 by hughjardon Star rating in Jaywick Sands. 345 posts Send private message

hughjardon´s avatar

What about if you get voids you could have no income for 3 to 6 months have you considered that

PS no alcohol in Jan hope to liven things up happy New year Allyes



_______________________
Done the Spain thing Happier in the UK



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02 Feb 2016 01:52 by aliton Star rating. 333 posts Send private message

What we did 3 years ago was take some equity from our UK house and funded a cash buy in Camposol near Mucia.  for 30,000 you can get a really decent villa and then you have an option to do it up & rent it through an agent In Spain when back in the UK . It worked well for us and got through the problem of raising a mortgage in Spain.

We gained a lot of knowledge about living abroad but decided to sell as ex pat life wasnt for us.



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  The Corvera Plane Spotters Club.. founder member.

 

 

 




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02 Feb 2016 10:16 by dav306 Star rating. 4 posts Send private message

Good morning everyone, many thanks for all the information ...Very helpful. What is IBI?





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02 Feb 2016 10:50 by newworld Star rating. 841 posts Send private message

Money to your local town hall. Council Tax





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02 Feb 2016 11:41 by dav306 Star rating. 4 posts Send private message

Is IBI due if I am a rental tenant? Also interested to know what health cover i would need to arrange for an indefinate spanish stay.





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02 Feb 2016 12:58 by mariadecastro Star rating in Algeciras (Cadiz). 8670 posts Send private message

mariadecastro´s avatar

IBI is not on the tenant, it is an ownership tax, it is on the landlord.

http://www.eyeonspain.com/blogs/costaluz/14474/legal-tip-1260-buying-my-sunny-property-what-is-ibi-tax.aspx

http://www.eyeonspain.com/blogs/costaluz/1378/tax-on-property-in-spain-ibi.aspx

Any questions... feel free....

Maria

You can check on our rental services on saferent

saferent

takelegal

wemovetospain

 

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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