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Hi, Paul. Graham here (also quite new) and I am going to give you a bit of advice.
I bought a house a few kilometres from Torrevieja, but, as yet, haven't lived in it yet! Why? Work.
Quite simply, there isn't a lot around.
I have been working abroad (and I am away from the UK and Spain) for 5 years now and am itching to live in my new home, but finding a language school near enough to make it worthwhile is almost impossible.
I don't know your circumstances, but to teach, you'll need the following:
A degree (preferably in English lang/lit or teaching)
A CELTA/DELTA
2 years teaching experience.
I have all the above (and also specialise in aviation/engineering English) and even with 5+ years experience, jobs in Spain are very thin on the ground. I would think it is even worse on a party island like Ibiza.
Now then, you could get lucky and find private work, but will that be enough to live on? Probably not.
Sadly, ESL "teachers" are two-a-penny these days, as everybody seems to think that as a native speaker, it's the easiest way to make a living.
Believe me, it isn't.
Forgive me if I have made presumptions. You may well be experienced and qualified. But if you are not, I suggest a different career path.
Good luck in whatever you decide to do.

I am a Telecoms engineer with many years experience in Network planning and network rollouts/upgrades.
I have sought jobs here for over 10 years without any luck, the big problem in my case has been the lack of fluent  or at least a good level of spoken and written Spanish. I speak/write excellent Italian, and I speak German. I have now rather forgotten my French and Arabic. I advise you to find a job with a UK co working in the EU or some sort of job that you can do from home. I might add that experience I have had in Italy means that a company may not be able to employ you if there is a local with the same qualifications unless that company has stipulated a requirement that only you can meet at the time. It is the local employment office which can control this and make it hard for you as a foreigner.
There are some other probs too regarding issuing of an NIE etc if you do not have a means of support. This has been introduced in the last few years. No one mentions this sort of thing in the EU and the UK is sadly lacking in not having a similar system. It means that you cannot just arrive in Spain  (or most other EU countries) and get free handouts.
Do not believe what they report to the EU commissions etc regarding social security/unemployment benefits etc etc.
Your girlfriend can support you while you look but without a wedding certificate you will not get any health care entitlement either.
Sorry to put you off but unless you have some money to back you I would stay in the UK job and book cheap flights many months ahead so they cost a pittance. If you have a really good idea and a valid business plan then it may work out but I am sorry to say out of hundreds of activities that I have seen start up in the last 8 years only 1 has made it. Our business went the full time of the lease but we lost an horrendous amount and it only did that because I was working abroad and it was closed for 80% of the time, otherwise it would have folded in the first year.
Good luck but keep your head and think it through very thoroughly.
M

Hello everyone,

@ Paul, welcome on board 

I created a new thread from your posts on the Ibiza forum so that members can easily provide you with their feedbacks.

Best of luck,
Bhavna