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UK Family's £90k Rental Home Funds Dream Spanish Life
25 Feb
Summary
- Family left UK for Spain due to high cost of living.
- UK home generates £90,000 yearly rental income.
- Spanish living costs are nearly half that of the UK.
Seeking a better work-life balance and escape from rising UK expenses, Julia and Callam Walsh relocated their family of five from Scarborough to Javea, Spain, in 2020. Their move was facilitated by transforming their seven-bedroom former home, Royal Victoria House, into a lucrative holiday rental.
This UK property, which they purchased and renovated for over £100,000, now generates approximately £90,000 per year in rental income. This income stream covers the mortgage and supplements their Spanish lifestyle.
The Walshes noted that daily living costs in Javea are significantly lower than in Britain, with groceries, wine, and coffee being substantially cheaper. Their mortgage rates in Spain are also considerably lower than those available in the UK.
In addition to enjoying a more relaxed pace of life and better climate, the family benefits from lower energy bills and cheaper fuel prices in Spain. They have also secured Spanish residency permits, allowing access to the national health service.
