Cheap meals out and lower monthly bills – a more affordable lifestyle is one of the benefits that come with a move to sunnier climes. Or is it? We compare some typical living costs in France, Spain and Italy and get feedback from expats…

Key to a successful move abroad is ensuring you’ll be able to afford your new life in the sun – these days, assuming that everything will be cheaper than in the UK is a dangerous strategy.

Meanwhile, if the income you’ll be living off is sterling based, for example, a UK pension or rental income from a UK property, you’ll need to consider the effects of the fluctuating exchange rate. It pays to build a cushion into your monthly budget to cover this, and to use a currency transfer specialist, such as Smart Currency Exchange, to ensure you get the best rate at the time that’s right for you.

Aside from rent or mortgage repayments, wherever you live, key monthly outgoings include council tax and utilities bills. Expats in three of the most popular destinations compared costs in their new home country with those in the UK, and offer up some other living costs tips.

France – Alexis Goldberg, resident of the Languedoc
Council Tax is considerably lower in France – based on a three-bedroom property, a typical bill is €100 (£72) a month, compared to around £150 in the UK. Water and electricity are also cheaper here, but we pay more for our internet and satellite connections.

Alexis’s top tip: DIY goods, in particular decent paint, are more expensive here, as France has not yet caught up with the UK in terms of ‘doing it yourself’! That said, prices are gradually coming down, as interest in this very British trait grows among the French.

Spain – Sally Veall, resident of the Costa Brava
Council Tax varies by region in Spain, but generally what you pay for your local council each year here is around a quarter of what you do in the UK – often, as in Catalonia, your bill for rubbish collection might come separately. Electricity and water cost less here, but expect to pay more for your internet and satellite connections. Remember that if your home is on a complex or holiday development, you are likely to have community fees to pay, too, which will vary depending on the facilities.

Sally’s top tip: Public transport is cheaper here and local train fares are especially good value. If you are over 60, you can get a tarjeta dorada (golden card) for €6 a year, reducing your fares by 25 percent or 40 percent, depending on the day and type of train you travel on.

Italy – Angela Lyons, resident of Puglia
Thankfully, Council Tax bills are tiny down here in southern Italy – typically about £16 a month for a three-bedroom property. Be prepared for slightly higher electricity costs though, and gas, if you have it, costs more too. Our satellite TV is less, but our Internet bill is more.

Angela’s top tip: In Puglia, where I live, day-to-day living costs are extremely reasonable. Probably the most expensive outlay you’ll have here as an expat is the cost of car insurance and health insurance cover. Also, like anywhere, steer clear of restaurants in the touristy areas – you can pay a lot for a meal in a restaurant somewhere like Ostuni, the famous and much visited White City, but head into the countryside or another less known town, and a local eatery will be great value.

More info
Alexis Goldberg, Sally Veall and Angela Lyons write info-packed articles for online resource OverseasGuidesCompany.com. Receive their regular emails and download a free Buying Guide, by clicking on France, Spain or Italy. Similar information is available for Portugal and the USA.

If you are considering an overseas property purchase in 2015, whether for lifestyle or investment, opening a no-obligation account with FCA-authorised Smart Currency Exchange will enable you to benefit from their competitive exchange rates and specialist currency knowledge, ultimately saving you money and time. For more information, download Smart Currency Exchange’s free report or visit the Currency Zone.