While it is generally known that the cost of living in Mexico is considerably lower than in countries like the United States or Canada, it also valuable to have some more specific information about how these costs. If you choose to buy Yucatan real estate, in the colonial city of Merida or one of the nearby beachfront towns, one area you will see savings are in your monthly utilities.
The price of electricity bills is determined on a 3 tier level, as set out by the the Federal Commission for Electricity (CFE). A set number of Kilowatt-hours every month fall into the "Basic" and "Intermediate" use categories, which are charged about 5 and 6 cents / kilowatt-hours respectively. This compares to an average of 12 cents per kilowatt-hour in the U.S. However, if you pass the allotted usage for the "Intermediate" rate, you will be charged the full rate which can be pricy. This policy works in favor of those who like to save electricity.
Most homes have a water heater and stove and oven run on natural gas, which is more or less the same price as in Texas. Since 1997, the price has been officially linked to prices in Texas, which are generally fairly accessible. There are no gas lines, and every home has a refill-able tank. Many homes use small 200 or 300 liter tanks (approx. 50 and 80 gallons) which, when empty, are disconnected, and carried out by trucks from the gas company which make their community rounds. They either replace the tank with a full one, or return the same tank filled later the same day. Some people choose to keep 2 tanks to avoid "down time" with no gas.
For these tanks the price is about $15 for the smaller tank. There are also stationary tanks available, which usually go on the rooftop, and are filled directly from a truck. These provide more accessible prices.
Water prices are very low, both in terms of the monthly bill, and for drinking water. Two parents and one child can easily get a bi-monthly water bill for under $10. A 20 liter (5 gallon approx.) jug of purified water, from a big-name company (Coca-cola and Pepsi both sell this kind of water, although under different brand names) costs about $2. If you buy from a local purification company it can be as low as $1.
Other than low utility bills, Yucatan is also a great place to find low-cost real estate. While cheap Mexico real estate is available throughout the peninsula, Merida and the surrounding area offer beautiful homes, and outside the city large lots, for very accessible prices.
Consider living in Yucatan; you will enjoy a beautiful colonial city, nearby beaches, and a very low cost of life. Here, your money will go further.
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Region: Yucatan Real Estate by Mitch Keenan has been a Licensed Broker in the United States since the 1980s. He holds a GRI and a CRS from NAR (National Association of Realtors). With over ten years of living and working in the Yucatan real estate industry, Mitch brings American business ethics and Mexico business experience together to give buyers unparalleled service. 512-879-6546
