Although it’s relatively easy to find Cheap Homes in Spain, UK residents should know that the cost of the home is only one aspect of affordable 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 article, we’ll compare some of the typical expenses involved in owning Spanish homes. These assessments many times are dependent upon the amount of money available and on where your Spanish holiday home is; it is still helpful having a basic knowledge of what you can expect.

The Expense of Taking Up Habitat in Spain

Typically, you can expect that the average cost of living in a cheap home in Spain will be about 10% to 15% less than in the UK. As an example, you may pay ?30 for a bag of groceries in the UK, and get the same amount of groceries for Euro 25 less in Spain. Shelter is probably the most expensive thing in the budget if you are searching for a bargain home is 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 Cheap Homes in Spain: typical rates are about 5.5%. Electricity and gas cost about the same as the UK. Normally you don’t pay above Euro 15 (?12) for water in Spain each month; however, because a lot of the houses have a pool, a garden, or a fountain a buyer needs to allow about 4 times more in his financial plan. The real estate taxes on holiday homes in Spain come to under Euro 250 (?198) each year.

The Price of Food in Spain

The cost of food is likely the next most expensive thing for someone that is planning to buy holiday homes in Spain. Despite the fact that prices are different with regards to region, some median prices appear below for contrasting purposes. Be sure to investigate food prices in the area where you’re planning to buy 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. But if you’d rather use pre-packaged food or foods make for your convenience, the cost will equal what you would have paid at home.

is roughly the same as .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[/spin]

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. Unfortunately, though, takeout food is usually not accessible in Spain; so factor this into your food budget for your affordable home in Spain.

Vehicles in Spain

The next thing most people need when they have vacation homes in Spain is a car. Cars are much more expensive in Spain than in the UK, but fuel and maintenance are usually cheaper. If you need car repairs, expect to pay Euro 25.00 to Euro 40.00 per hour and if parts for your car are not widely available in Spain, you’ll pay a premium for them as well. You don’t pay a high prices for road tax and the cost of car insurance is about average for your car in Spain as long as it has registration there. But—it will be quite expensive to acquire car insurance in Spain if your vehicle is UK-registered.

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 affordable 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.

This entry was posted on Wednesday, January 28th, 2009 at 2:26 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.