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Moving to a Home In Spain – Can You Afford It?

Moving to a Home In Spain – Can You Afford It?

Moving to Spain is a dream for many but there is a number of things you need to think about before you pack your bags. Firstly you will need to consider how you are to make a living. For young people, there is plenty of work in the resorts Such as Benidorm, Salou, Marbella and Torremolinos during the summertime, but in the winter most of these businesses close as tourists are thin on the ground. This results in hundreds of thousands of summer workers out of work in Spain in winter.

If you have had a contract in Spain for six months you will be entitled to some unemployment benefit, but at around €425, this is not enough to live on if you need to pay bills, utilities and rent.

An option is to start your own business, but again you need to think very carefully before you do this and do your research. Many people dream of owning a bar in Spain only to find that dream turns into a nightmare when they are working all hours under the sun and barely making enough to get by… I’ll explain. Bars in a town like Benidorm may look busy, but you really need to be turning over money all day and night, because prices in Benidorm are very competitive and low, yet rents or a mortgage on a home in Spain on the Costa Blanca are just as high as elsewhere, and bar rents are high. So Benidorm is great for the tourists who want a cheap pint and breakfast, but not so good for the bar owners who make very little profit on each sale.

Another option is to work from home. This is coming increasingly viable for many, as more and more services are provided online. If you do not have any skills that you can currently offer, learning web design, how to write web copy or do basic search optimisation work is not that hard, and can be learned well enough by just about anyone with a desire.

However, if you work from home without excellent skills, don’t expect to make a fortune freelancing. Competition is fierce and you will be competing for work with those who live in countries with a much lower cost of living who can offer their services for far less.

Retiring

If you have a pension and no need to work, you are in a much better position when it comes to moving to Spain, and you won’t have to think about things quite so hard. Of course, you will need to decide if you’re going to buy a property or rent, where you will live, have lots of patience while getting your paperwork prepared, etc. But with a reasonable UK pension, you can have a far better standard of life than in the UK, on the same amount of money.