Cost of Living in Other Countries

[Ryan&Amber2013]

With a little research, I am befuddled. When looking at home prices in countries like Haiti and Mexico, countries that you would think would be crazy cheap to live in as an American exchanging money, I see that housing seems to be even more expensive than where I live right now. How is this possible? $250,000 USD to build an average house in Mexico? How do the Mexicans afford to survive? If any of you live in another country, what is the exchange rate like? I always imagined an American with $100,000 in the bank could go to Haiti and retire off that. I guess I'm way off.

 

[Pergamum]

I am living in a nice city in Malaysia right now and the land prices are expensive, but rental prices are nice. Just rent a house. Also keep in mind that you might not even be able to purchase land or a house without a national co-signer in some countries.

Also, there is the issue of visas. You must have a current one to stay legally in some countries. Presently I am working on a visa to return to my country where I serve (Indonesia) at the same time as I am renewing visas to live in Malaysia to finish my health recovery. Every 90 days I must leave and re-enter the country to get a new stamp.

Then there is crime. In SE Asia it is lower. There are many expats here, some retiring at age 50. In Mexico I would not feel as safe as I do here.

Finally, 100,000 USD does not go so far anymore. A foreign country may require you to bank that money in their country. For instance, we had to open a bank account in Malaysia and had to show a minimum income per month to process a long-term visa. If you just come over without any monthly income, you'd be rejected.

 

[Tom Hart]

Are you planning on retiring abroad? If so, I'd suggest thinking carefully about the pros and cons. Your primary concern, in my view, should not be financial.

 

[Stephen L Smith]

If any of you live in another country, what is the exchange rate like?

Here in New Zealand US$1 will buy you approx NZ$1.39.

 

[Von]

We had a pastor come over from the States. They were considering moving to South Africa. He mentioned that he would like to live in a house like ours, but when he found out the house prices, he was shocked. Even sharing the monthly groceries-prices seemed on par with those in the States.

 

[Von]

But you're welcome to retire here!

 

[Ryan&Amber2013]

Are you planning on retiring abroad? If so, I'd suggest thinking carefully about the pros and cons. Your primary concern, in my view, should not be financial.

No, I was just interested to see how we could live in other countries.

 

[yeutter]

A relatively accurate guide for gaging cost of living www.numbeo.com/cost-of-living