Home Buying

Although it’s relatively easy to find  cheap homes in spain, UK residents should know that the cost of the house is only one aspect of cheap homes to buy in Spain. There are some every day costs that those who obtain holiday homes in Spain are subjected to—the same as at home. In this piece, we will make a comparison of some normal costs regarding ownership of Spanish homes. While such comparisons often depend on both your budget and the location of Spanish holiday home, it still can be helpful to have a general, overall understanding of what to expect. 

The Cost of Living in Spain

Normally, it is to be expected that the common price of living in a cheap home is Spain would run about 10% to 15%  lower than the cost of living in the UK. So, if you were to purchase, for instance, a bag of groceries for £30 in the UK, you would pay around Euro 25 less for the same in Spain. Housing is perhaps the biggest expense on your budget when looking for a bargain home in Spain. Considering the area, you will pay at the lowest Euro 49.000 (£39,000) for a studio, Euro 110,000 (£87,000 for a townhouse, Euro 81,000 (£64,000) for an apartment, and Euro 169,000 (£134,000 for a villa. There’s good news on mortgage rates for homes in spain: typical rates are about 5.5%. Electricity and gas charges about the same as the UK. Even though the water cost in Spain is Euro 15 (£12) or less monthly, several residences have gardens, fountains, or swimming pools—therefore, a purchaser should have 4 times that much in their expenditure allotment. Regarding holiday homes in Spain, real estate taxes run below Euro 250,000 (£198) each year. 

The Price of Food in Spain

Food costs are perhaps the next biggest expense for people who are considering holiday homes in Spain. Even though prices change according to locale, there are some average prices below to use just for comparison. Be certain to look into food costs in the location in which you are pondering to purchase your holiday home in Spain. Normally, however, the price of groceries altogether is around 2/3 the cost in the UK if you cook it yourself from scratch. If you prefer to cook with pre-packaged or convenience foods, your groceries will cost about the same as at home.

{Meat - chicken - Euro 2.60 to Euro 4.00 (1 Euro  equals about .8 GBP)

Meat - pork chops - Euro 5.00 to Euro 6.00

Meat - lamb - Euro 8.00 - Euro 10.00

Cheese - Spanish - Euro 3.00 for about 250g

Cheese - Cheddar - Euro 6.00 for about 250g

Tea - Euro 2.00 to Euro 2.50

Milk - Euro 1.00 per liter

Frozen pizza - Euro 3.50

Vegetables - tomatoes - 80c per kilo

Vegetables - green peppers - Euro 1.80 per kilo

Vegetables - potatoes - 70c per kilo

Breakfast cereal - Euro 2.60 for about 400g

Wine - Spanish – approximately half the expense in the UK

Wine - French, Italian or Australian - slightly below in the UK}

You may wish to eat out, in this case you will need about Euro 15.00 to Euro 20.00 for each individual for dinner and Euro 6.00 each for lunch. However, take out meals aren’t normally available in Spain—make certain to take that aspect into consideration when budgeting for food for your affordable home in Spain.

Cars in Spain

Another item many folks will use when they obtain vacation homes in Spain would be a . Vehicles are less expensive in the UK than in Spain, but maintenance and gas is actually less expensive in Spain. If you have to get your vehicle repaired, you will probably pay Euro 25.00 to Euro 40.00 per hour and if it has difficult-to-find car parts for your vehicle in Spain, you will have to pay extra for that. If your automobile is registered inside Spain, your insurance premium will be fairly inexpensive and the road tax is also remarkably low. Note, though, that a car is really costly to insure in Spain when it is registered in the UK. 

All in all, when looking at the purchase price of homes in spain and considering subsidiary charges like taxes, food and automobile transportation, it’s possible for UK residents for find cheap accommodation in this friendly, sun-drenched land. To sum it all up, if you are trying to purchase cheap homes in Spain and weighing the cost of subsidiaries such as taxes, cars, and food, you can more than likely, as a resident from the UK, get cheap accommodation in this cordial, sunshine-drenched country.