The question we get asked most frequently by people considering a relocation is: ‘What is the cost of living in Mexico–can we afford to live there?
As the costs of living in developed countries continue to rise, people on fixed incomes drawn down from lifetime savings and investments (like retirees) as well as people with flexible work options (like freelance contractors and consultants who can work remotely) are beginning to explore the option of relocating to places with a lower cost-base, either within their home country or abroad.
Mexico is a natural alternative choice for Americans and Canadians; although it’s clear from looking at the local expat populations that a growing number of Europeans are also choosing to relocate here.
Living costs in Mexico depend on your lifestyle choices. Expats find that essential costs like rents, fuels and wholesome foods can be less expensive in Mexico than they are in the US, Canada and Europe. Property prices vary depending on where you intend to buy, but there is no doubt that property maintenance costs and property taxes are lower in Mexico when compared to the US and Europe. Some things are more expensive in Mexico than they are in the USA: computers, cameras and some home ware goods, for example.
We have just published the second annual edition of our Mexico Cost of Living Report that can be downloaded from our eBooks section. The report, fully revised and updated for 2012, will help anyone who is considering a move to Mexico, whether to live here full time or part time; to work, study, take a sabbatical or retire, and who wants to better understand the cost of living in Mexico today.
The report offers a detailed analysis of the real costs of day-to-day living in Mexico with prices across a range of products and services most foreign expatriates buy when they live here. It also includes a number of overlooked costs which people tend to forget to include when they compile their budgets. The report features up-to-date prices for over 260 everyday items which can be purchased at supermarkets and pharmacies, enabling you to compile a considered estimate of your annual living costs in Mexico based on your individual lifestyle choices and expectations.
The report includes price comparisons with 2011, using price data from last year’s report, so you can see how prices have changed in Mexico over the last year. Full details about the Mexico Cost of Living Report can be found on the eBook store.
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