Everyone will tell you that if you choose a Mexico retirement, you save a good deal of money; they are right. But exactly what does this mean? What will you save money on? What won’t you save money on? The following is a brief look at the main savings you will see, and a few items which will cost you the same.
Prices of nice properties in Mexico are low; this becomes especially true when you look into any of the great real estate deals available through price reductions, pre-construction discounts, etc. Many retirees see a significant chunk added to their savings simply through the lower prices to be found for retirement properties here in Mexico. This is the most significant of savings, and it makes a very important difference, especially as more and more retirees have to think more carefully about their budget.
Whether you are paying HOA fees in a condo complex, or hiring a property manager to take care of your home, the costs of maintenance in Mexico are much lower than they would be in the U.S. or Canada. Most retirees can also hire a maid to do cleaning and have a handy man on call to trim the hedges, mow the lawn and paint the walls, and still spend less than they would on only basic maintenance costs back home.
Groceries, Bills, Daily Expenses
Most people find they can walk away from the grocery store with a bill that is about half of what they’re used to. Monthly utility bills are much lower for the most part (see the exception below) and simply any normal day to day expense will cost less.
Enjoying the little details of life is an important part of retirement. For this reason it’s important that these little details – going out to the movies, enjoying an ice cream, having a Thai dinner, or sipping a European coffee – all cost less in Mexico.
Travel throughout Mexico and nearby places is more affordable. Even flights back home have very reasonable costs.
What You Won’t Save On
A few things cost a little more than in the U.S. or Canada, like the closing costs on a real estate purchase or electricity bills (the rates go up after a certain usage level); other items like international golf or high-end gourmet will be the same.
In the end, the savings abound in so many important items that retirees still feel that they can enjoy the items that are a little pricier more than they would on their tighter budget back home.
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Doug Morgan was born in Dayton, Ohio and got his education in the Buckeye State. He has enjoyed success in the life insurance business and investment business, and is now enjoying a relaxing retirement in Playa del Carmen. His great joys are his 3 wonderful grandchildren back in Ohio, and enjoying his travels and exploration of life in Mexico. His most difficult challenges in life at this point are trying to master the Spanish language and continuing to perfect his margarita recipe.