What are the true savings?

[abrowne1950]

My wife and I are actively doing our due diligence regarding a possible early retirement and permanent move to CR.  We hear that one can live quite nicely for much less that it would cost to live in the US.  My problem is finding current and accurate information that would allow us to compare the actual costs.

Can anyone point me to appropriate websites that contain this sort of information.

Many thanks.

[Russ]

Hi, welcome to the AE Forum.

Have you narrowed it down to any particular area as yet?  The costs are a little different depending on your area. 

The GoDutch web site has some good information for the Central Valley:

Central Valley Costa Rica cost of living

Expat focus also offers an article, Costa Rica cost of living

I believe that utilities are much less expensive here.  Especially if you live in one of the more temperate climates.  Car gas is more expensive per gallon (liter), but maybe you won't have to drive as much.  Probably you will get into a more economical car, like a turbo diesel SUV versus a V8 full size you have back home. 

Another savings is medical care. Currently a visit to the doctor or dentist runs about $25-30!  Many cosmetic or optional surgeries can be done here for 1/3 of their cost in the U.S. or Europe. 

I can add that the rule of thumb for car insurance is 5% annual premiums for the market value of your car. 

Another rule of thumb is that when you buy locally made items or food, it is much less expensive than when you buy imported items.  You can live as cheaply as you want if you grow your own food, or failing that try to buy what is commonly grown locally.  I guess a good example of that is the cuts of meat.  If you want to buy a T-bone, for example, good luck finding that in your local MegaSuper.  But you can find it in upscale butcher shops, and you will pay upscale prices.  You can find a cut called lomito at a reasonable price, that is a fairly tender cut of meat from the local range-fed cattle, which you would probably pay gourmet prices for in the U.S.  . 

In summary, my opinion is that if you want to try to maintain your lifestyle in the U.S. with all the latest gadgets, amenities, and service, there is no problem.  These days, you will find most of what you are interested in available locally.   But if living more cheaply is your desire, then you certainly can do that. You will have to make adjustments, and find your sources, but it is doable. 

[Barry]

Hi ,hope you get a chance to visit and ask around here . In the Central Valley no heating or A/C so low utilities and very low tax . A 3 bed home for all costs under $200 with cable TV and internet .Cars double but repair cheap . Eating out half the cost but supermarkets about same as Florida for  food .(Labour being 1/3 of the cost)

[Ivo]

Also great to check for cost of fruits and vegetables: http://www.cnp.go.cr/php_mysql/bd_mercados/preciosNacFeriasSugeridoConsulta.php?idMenu=4

This list is from July 2009 and its in Spanish. Its fun to start learning all these fruits in vegetables in your new language....and they're in kilos, another exciting thing to learn.

Ivo
Godutch Realty Costa Rica

[Ivo]

The real secret about your savings when you move to Costa Rica is that you should learn as much Spanish as you can, that way you can buy your fruits and vegetables on the Farmer's market and you can buy the products with the Spanish labels, not the stuff that is imported from the US and has high import taxes. Look for the products made in Costa Rica or Central America. You'd be surprised how much money you can save. You didn't move to Costa Rica so you can keep using the same expensive products you used back home, why even move here. See it as an adventure if you don't know what it is or don't know how to prepare it. Look it up in the dictionary, Google it, ask the maid or ask the neighbor. Learning is fun and that's what moving here is all about no? Take a crash course Spanish. I don't speak Dutch or Spanish in the US....people would kick me back over the border. I speak English in the US, Dutch in Holland and Spanish in Costa Rica. You can all do this too, just show some interest in your new country and learn, you'll enjoy the country so much more. At least, I do.

[Ivo]

And for those who are moving to Costa Rica from Florida: we pay 10% of the property taxes of what you'd pay in Florida and we don't have hurricanes so our insurance is a lot cheaper too. We hardly need a/c so our power bills are like 1/5th of what you'd be used to.