What kind of Madrid lifestyle can I afford ?
First of all, great news! Madrid has been named as one of the top 10 European cities with the lowest cost of living! Fantastic for anything thinking of a metropolitan lifestyle without a huge budget.
Compare your monthly budget to these estimations, and visualize right now the lifestyle you can afford in Madrid, including all costs for living (rent, bills, food, and the bonuses indicated) per person:
- 800 – 1000 €: bare necessities in Madrid’s city center for a student life,
- 1100 – 1500 €: living a bit more comfortably, eating out with some week-end excursions
- 1600 – 2000 €: professional type living, travelling,
- 2000 – 4000 €: living comfortably, think about investing, charity and buying a home if you’re planning to stay for years, able to sustain a family,
- over 4000 €: we can talk of a luxury lifestyle.
Do also use Expatistan.com to compare the cost of living levels of Madrid to the city you’re moving from. For instance, according to them, life in London is 43 % more expensive than in Madrid. Then compare this difference in the cost of living to the revenue gap you will experience by moving to Madrid.
Or directly ask one of your relocation experts to draw an optimized monthly expenses based on your lifestyle and budget, ask now for your free relocation consultation !
Also, you will find more details hereunder for the main items of your budget:
- Bills, with utilities, internet and recommendations for the best providers,
Do read these articles as they detail the main items of of your budget.
And if you prefer specific answers to your individual questions in terms on how to optimize your budget, with professional help to make sure you get the best neighborhood for your lifestyle, and know what are the dangers to dodge in Spanish contracts:
Do not hesitate to leave a comment if you have any kind of question. Madridly yours,
Pierre & the Moving2Madrid Team – Madrid Property Search & Relocation