The Cost of Living in Madrid, Spain
Sometimes when securing a new job, it can be beneficial to commute or even to move closer to the surrounding area. At TRS we pride ourselves on ensuring recruitment needs are met, whilst recommending employees who will have a strong understanding of the predicted quality of life based on costs, location and transport times. To help make moving decisions a little easier, here are estimations of the cost of living in Madrid, Spain.
Carefully consider all of your options, are you in a location with relevant transport? (i.e flight paths, train routes etc.) Some employers require face-to-face interviews. To show your commitment to working in the required area you will need to be able to attend any on-site interviews. This means you will need to apply for locations that you can realistically attend.
Ensure you gather all of the official documentation you may need, including Identification documents, Qualifications, health cards, driver’s license and bank details. This will allow you to start work as soon as possible.
Finding suitable accommodation is essential when making a comfortable move, however finding a balance between cost and quality is crucial in overall positive living. Housing is a necessity that’s price is dependent on area and proximity to work. This can vary depending on career paths. For example, for wind farm jobs in Spain, it may not be a requirement to live in built-up areas; therefore prices can vary to reflect this. These variations are also relevant to civil jobs in Spain, pipeline jobs in Spain, as well as project control jobs in Spain. By determining your Industry you can research the prices expected for the housing you most prefer. According to Expatistan, monthly rent for a 900sqft furnished accommodation in an average area has an expected cost of €944. Utilities such as heating, electricity, and gas for 1 person are valued at €101. By setting yourself a budget considering your salary and required location within Madrid, you can determine what accommodation is most affordable for your duration of work.
Understanding your needs regarding transport can help you calculate the most beneficial transport method, taking consideration of cost and convenience. A monthly public transport ticket is expected to cost €54; it can, however, be more cost effective to purchase your own transportation depending on commuting expectations. The general estimate for vehicles similar to the Volkswagen Golf 1.4 TSI 150 CV is €21,466, with 1 liter of gas averaging at €1.19. These costs can be recommended to those with lengthy or otherwise complicated commutes, offering ease in traveling.
Health and wellbeing are essential for a positive working and private life, therefore it is valuable to research into medical costs as well as hygiene costs to ensure your body and mind is healthy. A short visit to a private Doctor is predicted to cost €67, along with a box of antibiotics valued at €5.40. The ability to seek medical help is important to both employers and employees, and the likelihood of being able to afford such assistance should be prominent in decision making.
Social and entertainment factors are also important aspects to consider when debating moving to a new location. These may not occur as often as transport and accommodation costs, but they can make a significant impact on your savings. It is beneficial to research into experiences such as dinner costs, cinema costs, and gym memberships in order to predict your average entertainment costs based on your interests. In Spain, 2 tickets to the movies are estimated at €18, and a basic dinner for 2 at €32. Gym memberships vary across companies and locations, 1 month’s gym membership in the business district typically costs €45. Estimating events that are likely to become monthly expenses from your budget means that you can determine how you can afford these. This includes estimating the frequency that these events can occur whilst being affordable, and a prediction of overall cost against salary and other expenses.
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