Average monthly living expenses

[Zaknumber1]

Hi I’ve agreed with my work to be able to work 1 week and have 3 weeks off every month
My plan is to rent a room in a shared house in England for that 1 week then buy an apartment in Paphos for approx £80k to come and spend the other 3 weeks in the sun. I’m looking for advice on how much I will need per month to live on in Paphos for those 3 weeks am looking to have a small car and eat out maybe 2-3 times a week
Many thanks

[Dominic]

Why not just rent an appartment for a couple of weeks, and keep an eye on your spending habits? See how much you actually spend, not think you will spend. One persons idea of cutting corners will be another person's idea of extravagance.

[Zaknumber1]

I was thinking to allow £200 for flights
Am looking at around £500-£700 for bills and living expenses and going out and a small car upkeep a month depending on how much flights are
What do you think ?

[josef k]

Many people could live a good life on 500 - 700, but could you? The only person who could answer that is you and you don't know yet. I echo Dominic's advice and try it before you commit yourself. That is what I did and kept records of all spend during the time. Then I went back to the UK and played with "what ifs" on spreadsheets for a while.
As to flights, it depends on where you fly from and costs vary according to the time of year. 200 is far to little. I have checked today for a flight in one weeks time from Gatwick to Paphos with a return in 2 weeks. The cheapest was around 550.

I recommend more research.

[ApusApus]

As to flights, it depends on where you fly from and costs vary according to the time of year. 200 is far to little. I have checked today for a flight in one weeks time from Gatwick to Paphos with a return in 2 weeks. The cheapest was around 550.

I recommend more research.

I agree …………… who knows what the prices of flights will be beyond the window that the airlines release?


Shane

[Zaknumber1]

Hi thank you all for your comments I will have a house share in the uk so if the flight prices got too crazy or high I would stay in the uk for a while extra. The plan Is to buy an apartment in Paphos and share my time between there and the uk I have free train tickets as I work on the railway so can fly into and from any uk airport.

[trevnhil]

Don't forget to factor in Cyprus Income Tax and Health insurance.

[Lofos-Jan]

In an apartment:

Water: approx. €15/month
Electric: approx. €50/month (not allowing for excessive air con use)
Refuse/communal fees: between €12 and €20/month depending on Municipality
Complex communal fees: between €40 and €80/month depending on complex/facilities
Internet/TV: approx. €60/month for full package (less for basic freeview systems)
Car insurance/tax for small car: approx. €40/month
Building & Contents insurance: approx. €20/month

So that lot is approximately €285/month. On top of this you would need to budget for and factor in:

Food and personal shopping (including eating out)

Fuel (a little cheaper than UK)

Car maintenance & servicing

Parking costs at airport

Property maintenance

Entertainment

You would also need to consider the cost of health insurance although initially you would be able to use your EHIC card until you register as resident. You will become tax resident when you have spent more than 183 days out of a full year here. Due to your slightly unusual circumstances, a good tax accountant would also be advised.

Hope that helps

Jeanne

[Anarita John]

For around 8 years, when we retired from full time work and were doing supply teaching, we came around a week before each school holiday, to take advantage of cheaper flights. We book as soon as easyjet release their flights, so often pay around £40 each way. We leave our car with a meet and greet at Manchester Airport and get a good deal, far cheaper then the train fare from Colwyn Bay or a taxi.

We found owning a car here much cheaper than renting and have had our Honda Jazz now for fourteen years. We have got away with servicing it every two years by using high grade fully synthetic oil.

I would think of renting here, rather than buying. I wish we had, it would have saved us a lot of money and worry.DO NOT BUY ANY PROPERTY THAT HAS NOT GOT CLEAN TITLE DEEDS. And use a fully independent lawyer.

[Zaknumber1]

Thank you once again for your helpful comments and I didn’t know about the 183 days to become a tax resident working it out I think I would be just under that. I like the idea of renting for a while first and buying a car i was thinking in the universal area as fairly close to everything and on a bus route what do you think about this area ?

[trevnhil]

Initially you said.. " My plan is to rent a room in a shared house in England for that 1 week then buy an apartment in Paphos for approx £80k to come and spend the other 3 weeks in the sun "
If you do this every month would this not amount to over 183 days ?

[Lofos-Jan]

Some love it, some hate it but I think it will be a great place for a first base, for the buses and to get the feel for the local areas. Tombs of Kings area is also good for the bus routes.

Jeanne

[Zaknumber1]

My apologies yes I did say in my original post 1 week work and 3 weeks in Paphos. I wasn’t expecting anyone to be so cutting to me. It was just a rough idea as some weeks in would be maybe 2 weeks in England and 2 weeks in Paphos it was just very roughly I expect it would be around 24 weeks a year in Paphos sorry for any confusion.

[June]

If it works for you then great!
You may find that the summers are so hot in Cyprus that you'll pass on one or more of those months (which would help sort out the 183 days) but otherwise you'll be living the dream of many on here who still live in the UK
Go for it

[trevnhil]

My apologies yes I did say in my original post 1 week work and 3 weeks in Paphos. I wasn’t expecting anyone to be so cutting to me. It was just a rough idea as some weeks in would be maybe 2 weeks in England and 2 weeks in Paphos it was just very roughly I expect it would be around 24 weeks a year in Paphos sorry for any confusion.

Zak I wasn't meaning to be 'so cutting' as you put it. You asked the questions and I told you about having to be registered her for tax if you stayed the length of tome the you mentioned... Paying tax in Cyprus would I think be financially beneficial to you. And you certainly need to sort out medical insurance should you fall ill whilst here, in fact I think it is something that immigration would require.

[Anarita John]

Trev, we have never taken out any medical insurance other than our travel insurance, which covers us for 45 days for any one visit and our EHIC card, which hopefully will be valid for a bit longer. We, however, are under (just) the 183 days, basically because we do not come out in the height of summer anymore and have not been out for Christmas for the last couple of years.

We are just hoping, that after next year, we will still be able to come for a couple of months stay without a visa. For us, under the new double taxation rules, it would not be advantageous to become a Cypriot resident.

[trevnhil]

John, as you say, you are under the 183 days.. But in the original post it was stated that 3 weeks out of four would be spent in Cyprus. This would / should mean that income tax must be paid here. To do that he would have to register with immigration, and I believe they need a person to be covered for health insurance.
Regarding yourselves and becoming Cypriot residents. I feel sure that many people just come and go as they please and use both the Cypriot health scheme and the UK one.