Cost of Living

Well, let’s start off with what “BestPlacesToRetire.com” has to say. In 2008 it rated the Lake Chapala area as The #1 Place in the World to Live. But we already knew that and soon you’ll know it too.

As most ex-patriots here have discovered, the moderate cost of living is just another reason they come here to live. The abundant availability of modern goods and services has made Lakeside a great place to retire or to vacation. The numerous markets and shops have abundant supplies of ripe fruits and vegetables, along with fresh fish and meats of every kind. And, it comes from the local farmers and growers.

Some writers have claimed that one can live here for “next to nothing”, well that’s a bit of a stretch. But you can live very comfortably here on much less than it costs in the US, Canada, or in Europe. And yet, some items are more expensive here in Mexico, especially anything that is “imported”. But local products and services are very reasonably priced, including houses. They are mostly made of concrete and they can last for hundreds of years if maintained. And of course, you will not need fire insurance. Once you are here, you will find that electricity, gas, water, local produce, domestic help, property taxes and maintenance are amazingly low cost items compared to where you are currently living. To sum it up, we have found that most Americans, Canadians and Europeans can live very well here on their pensions and retirement incomes. Not including the cost of buying a house, two people can live very comfortably on $1200. a month.

Owning a Home in Mexico

Here in Mexico a foreigner can legally own property with a clear title unless it lies within 31 miles of the coastline, or if it is within 62 miles from the border. If you want to purchase property within these restriction zones, you will have to buy it through a “trust” at a bank, but its easy to do. But if the property is located anywhere else in the country, it is the same as owning property in most other countries. And, the property taxes here are extremely low.

Bank mortgages are rare here, mostly because of high bank interest rates. So, most homes and land are purchased for cash, or owner financing with a substantial down payment. But recently here in Lakeside an increasing number of US banks and financial groups are offering mortgage financing at relatively low rates with a down payment of at lease 50%.

Your Healthcare

Healthcare is a big consideration here. The services of bilingual doctors, dentists and other healthcare providers are very reasonable. And the costs for most items can usually be paid right out of your pocket. (A recent 45 minute doctor’s visit cost me $52.US, and it also included an EKG!).

Many of these medical professionals are trained and educated in the US, and are just as competent as any I have ever used. And they are readily available for you when needed. Our internist even gave us her “cell phone number”. Do you have your doctor’s cell number? (I’ll bet you don’t!). It’s too bad that Medicare is not available here because if it were, they would actually “save” money on medical services in Mexico. Actually, Medicare should send their patients ‘here’ for their care! There are good local clinics in Lakeside, and one can find numerous excellent, modern, new hospitals in nearby Guadalajara.

The IMSS is Mexico’s equivalent to Medicare. It is available to everyone here, including ex-patriots, for a modest annual payment. Celia and I have the coverage but have never had to use it. I’ve heard that it is good care from well-trained doctors but the facilities are usually a bit old. Some ex-patriots choose to take out a major medical policy from a well known US company, and that is certainly an option for you.

And most medicines are sold in Mexico without prescription, and of course, they are quite a bit less expensive here.

Your Safety

My local friends and I are really amazed about the negative image that so many Americans have of Mexico when it comes to crime. We are also surprised at how ineffective Mexico has been to tell the truth about life here and to dissuade those fears. Typically, what the foreign press says about Mexico is that it’s virtually being controlled by drug cartels, but that is simply not true. If it were, we wouldn’t live here!!! It’s just as simple as that. The trouble occurs in a few of the border towns (on both’ sides) where the drug cartels are dominant. But, in general, the great majority of this lovely country is a wonderful place in which to live. I feel safer walking around central Guadalajara or in Chapala than I do in the center of most US and European cities. Just think about that!