A Great Guide to Retiring in Mexico by Where Can I Live

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If you’re considering retiring abroad, Mexico is an appealing destination. In fact, in 2017, it was ranked as the best location for ex-pats looking to retire for the fifth year in a row by International Living magazine.

In terms of costs, climate, along with other aspects such as accessibility to healthcare and amenities, Mexico comes out every single time on top.

If you’re thinking of joining the many ex-pats retiring to Mexico and you’ll want to understand how you can plan your relocation. 

What is the cost of living?

One of Mexico’s main attractions is the harmony between affordable costs and the accessibility of everything you’d like to enjoy a lux and cosmopolitan life. In the major cities, you can buy luxury and imported goods and enjoy shopping or eating as you would be in other cities of the west. If you decide to save money and follow a more ‘local lifestyle, you’ll be able to live a comfortable living on a budget.

The website for data, Numbeo, provides average cost of living information that can provide an important insight into the costs of necessities as well as entertainment and travel costs across different areas.

One of the biggest expenses for ex-pats is the high costs that are charged for international transfers. If you have to frequently transfer money from your home bank account into the Mexican banking account, you should be aware that your local bank may not be the most affordable choice for this service.

Most banks charge fees for international money transfers that you might not be aware of. They may not be clear and could be concealed in low exchange rates.

How much will I need to be able to retire in Mexico?

Living costs in Mexico are hugely variable depending on the lifestyle you live, as well as the location you decide to reside. If you’re planning to have a modest retirement income and a great guide to retiring in Mexico by where can I live then its good news that Mexico is a reasonable price for daily necessities such as housing, entertainment, and other necessities and that’s an important aspect of its appeal for retired people. Mexico City ranks as 427 in a list of 514 cities in the world for the cost of living, for instance.

In reality, it’s as low as $500 per month can be enough to live on to be a low-cost resident in Mexico. This is assuming you be able to eat, shop, and enjoy yourself as the locals do – and stay away from expensive imported products.

If you’d like to live a lavish quality of life in retirement, it is possible and affordable in many parts of Mexico. If you want to retire comfortably in a home with a full-time maid service that is available three times per week, and a gardener it is possible to do this at a cost per month of approximately $2300 as per this estimate from Investopedia.

The cost of renting a home is wildly different based on the location you’re hoping to reside. This can add to the daily expenses. Naturally, it is possible that you could prefer purchasing a house in Mexico that could lower your costs significantly.

It is possible to estimate how much costs of living in Mexico by analysing the city you’re interested in as well as your lifestyle.

What’s The Daily Routine?

Mexico is a vast country with a variety of geographical terrain, resulting in differences in climate and temperatures across the different regions. The altitude plays an important part in the weather patterns that affect different locations in Mexico in the northwest, with the northern desert areas, while the coastal areas that are lower-lying are experiencing greater tropical-like weather conditions. There are storms in coastal cities during the period of hurricanes that runs from June to November.

Where Are the Best Areas to Retire?

Mexico is a huge and diverse country. Mexico City, the capital city of Mexico City, has excellent international connectivity, fantastic facilities, a lively cultural life, and excellent services to provide healthcare and other necessities. It attracts a large number of ex-pats looking to stay, work, and then retire due to this. But, crime is an issue in certain areas so it’s important to do the necessary research on the place you’re planning to retire in Mexico.

It is possible to compare criminal rates of Mexico City with those in your home town, on the internet. Follow the advice of your locals and go in the night to ensure that you’re at ease.

If Mexico City isn’t your preferred destination, but you’re looking for someplace that is within a short drive, consider Queretaro. The town’s historic colonial past is believed to have low rates of crime which means that you can relax comfortably in a beautiful setting without having to worry about security.

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