Living Costs in Costa Blanca

Living costa have already been covered:

Living costs

For a pool you'll need a major works license, with full architect's plans.

Minor work outside the property needs a minor works license, which is much easier to get.

UK license is OK to start with, but you have to change it to a Spanish license. Vehicle running costs are similar to the UK. It's the vehicle purchase which is expensive; if you buy second-hand, it will be a lot dearer than in the UK as vehicles here hold their price, and you'll have to pay tax on the value of the vehicle plus a fee for doing the transfer of ownership.

Just curious about your electric bill... Here in the UK mine is around £30 per month but I live on my own. Yours seems astronomical in comparison, is that because of your house and family, or Nexus it is just more expensive in Spain?

Solar panel install I see is around 6000€ which would probably pay for itself fairly quickly?

Hi there

So if I wanted to live in Spain full time I would have to pay my income tax in Spain and not UK even if my income is generated in UK? Is that correct?

I did some research and read that income from renting a house isn't taxed in Spain at all, would anyone be able to confirm or deny that please?

Andrew 😊

Hi Kim

I see, thanks. So you don't then pay any income tax in Spain at all?

Hi Kim

That's really interesting, I've just been reading about it all. 

For me at least, I'll only be paying an additional 5% income tax by the look of it when I become a resident. While not insignificant it is still affordable, I'll just offset it against all the glorious sunshine and being able to spend about 90% more time outside walking or cycling!!

Thanks

Andrew 😊

I think you can better buy than rent, I work voor a realty company in Alicante and I have appartments for sale starting at 30.000 euro for a 90m² appartment with 3 bedroom, 1 bathroom, kitchen, living room and terras and this in the center of Alicante.

If you rent that will trow you back anywhere between 500 and 1000 euro / month, if you would buy at current loan rates it would cost about 300 euro for a loan on 15 year.

So if you want to save money, buy.... asap.