Retire in Mexico?
Do You Wonder What It Would be like to Retire in Mexico? I live in Chicago, so now that Fall is here and winter is coming I am revisiting what it would be like to retire in Mexico. The Chicago Tribune picked a good time to share the Best Places to Retire in the World, an annual list created by International Living Magazine. For 30 years International Living rated the top foreign countries in the world for American retirees.
What do they include in evaluating countries?
The major categories include:
- Real estate prices
- Cost of Living
- Cultural events and places
- Availability of quality healthcare
- Cost of healthcare
- Infrastructure
- Safety/Stability
- Climate
Mexico was ranked #2 in 2001 (up from #3 in 2010)
Mexico—Comfortable Living Close to Home
Mexico is the perfect mix of centuries-old traditions and contemporary lifestyle, Mexico ticks all the boxes: wonderful weather, vibrant colonial towns, postcard-perfect beaches, rugged highlands, welcoming locals (many of whom speak English). Whatever retirement setting you imagine, you can find it just south of the border. Mexico has the great advantage of being close by and easy to get to. Lots of folks simply get in their cars and drive.
There are established expat communities where you’ll fit right in — like San Miguel de Allende, Ajijic, or Puerto Vallarta. But there are not-yet-discovered places as well — like Tulum, on Mexico’s Caribbean coast. There you can pioneer a new life of luxury on a white sand beach, for a small fraction of what a comparable lifestyle would cost you at home. Want something in bewtween? Try Playa del Carmen, an international beach haven 30 miles south of Cancun , great architecture, international cuisine, and lifestyle. PLaya, as the locals call it, is the gem of the Mayan Riviera.
Playa is internationally known for its majestic blue sea, white sand beaches, and the hospitality of the Mayan people. Here retirees enjoy an array of water activities and sports always near by, not to mention coral reefs, amazing sea life and archeological sites in abundance! There is never a dull moment here, nor a moment where you are not awed by the beautiful landscape of the natural environment. There are high-class restaurants, shops and jewelry. If you imagine living in a luxury area of beach, sand and sun, then this is the location for you! For more information on the Mayan Riviera, Mexico, click here.
Cost of Living – 40% less than cost of living in the US!
In Mexico your dollars stretch far. Based on a U.S. dollar exchange rate of 11.00 pesos, the cost of living in Riviera Maya for an expat varies from US$6,783 or 74,613 pesos (high-end salary) to US$2,870 or 31,570 pesos (low-end salary) a month. These figures are based on expenditure on housing, food, education, transportation, clothing, recreation, health, furniture, appliances and personal use.
Mexico Real Estate
The average rent in Riviera Maya is around US$610 a month or 6,700 pesos. Purchasing a house is most affordable in Playacar, a short walk from central Playa del Carmen’s 5th Ave. A 2 Bedroom/2 Bath condo on the beach in the Premier Zone of Playa can run $200,000 – $300,000. A condo 2 blocks from the beach will be under $200,000.
Fresh fruits, vegetables, and seafood are abundant here. WalMart and Mega are the largest supermarkets, but you can also buy fish on the beach from the fishermen when they pull in daily.
A big feature of living in Mexico is that domestic help is relatively cheap compared to countries in the Western world. In Riviera Maya, it’s common to pay around US$25 to a person (usually a lady) who will come and clean your apartment, iron clothes and, if you’re willing to pay a bit extra, do some cooking as well.
In Riviera Maya your biggest expense will be electricity. If you run the AC on a regular basis, you can expect to pay US$200-500 every two months. (Its billed every two months). Long distance using a landline is very pricey, but there are all sorts of ways to make overseas calls without using Telmex (SKYPE, call back services, VoIP, etc.). Bottled Water (5 gallon bottles) is incredibly inexpensive. Look to pay around 60 pesos for two months. That’s about US$4.
Retirement Mexico
There’s something for everyone in Mexico: condo, house, apartment, palapa or grass hut. You can have a healthy lifestyle with fresh, healthy food. The climate is one of the most desireable in the world. Mexico is rich in romance and beauty but also offers first-rate hospitals, clinics and medical staff, many of whom speak English.
Best Places to Retire in Mexico:
- Mazatlan
- Cuernavaca
- Playa del Carmen
- Tulum
- Puerto Vallarta
- San Miguel de Allende
- Oaxaca
Video of Playa del Carmen – Best Place in the World – Best Places Retire