The Cost of Living in Belize
While you might think that living in a Central American nation like Belize can be a costly endeavor due to being a tropical paradise, this is not quite the case. Indeed, Belize is all too willing to encourage people to retire within its borders, if not just give them a new place to call home. Just keep reading this article to get a better idea of what sort of toll Belizean living takes.
As previously mentioned, the temperature range and natural beauty of Belize is what draws many toward it, though the food is also something everyone should experience. After these initial factors grab someone’s interest, it soon becomes evident how cheap it is to live in the country; the Belize Dollar keeps parity with the United States Dollar at a constant ratio of 2:1 ($1 USD = $2 BZD). While Belize is cheap to live within, the real issue is how you plan to live here; do you plan on renting or getting a mortgage?
International Living Magazine broke down what the average cost of living in Belize is like and home-owning ex-pats can do quite well for themselves with only $1,500/month. One of the variables in this calculation is how you plan to stay fed. Most of the local fresh produce you will find, as well as seafood and chocolate, is considerably cheaper than in North America but imported goods, including gasoline and electricity, can range in price between two and five times as much. Notably, neighboring Mexico has access to discount chain stores like Walmart at a cheaper price, if you ignore the cost of gasoline to reach them.
Something of note to Belizean homeowners is that property taxes are exceptionally cheap. Even million-dollar homes rarely exceed a four-figure tax because the usual percentage is based on 1-1.5% of the undeveloped land. Furthermore, the government only taxes domestic income and capital gains taxes do not exist. The average daily cost of staff like housekeepers and the like is no more than $60-40 a day. Lastly, the QRP program allows qualifying retirees to important almost of their stuff duty-free.
Gas issues aside, it is relatively cheap to get around the country. Entrance fees to many of the national parks and other major sites is no more than $10 at most. While home internet can range from $25-50/month, mobile internet can be exceptionally more costly than in the USA. Utilities, with the previously mentioned exception of electricity, are also quite affordable.
If all of this sounds awesome and you are just looking for a good place to settle down within Belize, Salt Life Belize is among the best options you could choose. Whether you are just looking for a part-time home, a vacation getaway, something with a bit more permanence to it or you want to play the booming real estate game, you cannot go wrong with this Ambergris Caye community. The community’s founder happens to be an expat himself and understands ex-pat needs.
Contact the friendly Salt Life Belize staff today and ask all of the questions you like using this toll-free number: 1-800-669-6970. We look forward to seeing you sooner rather than later!