What Is the Cost Of Living in Lake Chapala 2023 

Thanks for watching and for your comments!

Thanks!

Thanks for watching! If you have questions please contact me through our website RetireInLakeChapala.net

@@RetireInLakeChapala I did! :)

Thanks for watching!

Thanks for watching! Your videos of the area, restaurants, etc, are invaluable for people considering the move here!

Thanks Ricardo

Thanks for watching!

That’s us as well. We’re in B.C, where do you live?

We are in Ontario!

Hello. Thanks for your comments. Yes, most people will see at least a 50% reduction in their cost of living by moving here. $2000 per month is very doable, especially without a car and paying a reasonable rent of around $1000. How much you go out to eat (and what type of restaurants), and how much imported food you purchase can determine if you pay more or less. Why Mexico? Good question. I've also explored all of western Panama with my ex over a period of 3 and a half months and determined that I didn't like it (also, I'm Canadian, and as Panama is on the US dollar, we pay the additional exchange rate difference which is usually in the neighborhood of 30-35%!). I've also spent a month in Nicaragua and Guatemala and Belize. Michaela has spent time in other areas before I met her, including Panama and Costa Rica. While there are good things and bad about all of the places, none of them have ALL of the following: infrastructure, perfect climate, ease of access to the US/Canada, large supportive expat community, stable economy, excellent health care, huge variety of excellent restaurants, easy/quick online ordering and delivery, and an abundance of recreational activities to suit your lifestyle with like-minded people. One thing I want to add, is that the cost of living has increased here (as everywhere) due to expats and (even more so) by the wealth and growth of middle class Guadalajarans who are purchasing second homes in Lake Chapala and vacationing in the area. There are many places you can go to in Mexico where you will find you'll pay 25% less than here, but you will require a stronger command of the Spanish language and you'll have less expat interaction. There is lots that goes into the decision of where to move to and no one place is perfect for everyone.

Hi Tracy. We have full, standard coverage on the cars, including roadside assist. I'm happy to send you a scan of the policy for you to view. Just contact me through our website RetireInLakeChapala.net Medical will be different for everyone but it's going to be either Self Insure, Buy a Private Mexican Policy, or Buy a Skymed Evacuation Policy to get back to Medicare or whatever good insurance you have. In our case, we pay but can get reimbursed some from a Canadian Government Plan as Michaela used to work Federally in Canada. Every situation is different and this is something that we cover in depth in our Personal Seminar

@@RetireInLakeChapala great thanks for the info! Sure I will get hold of you through the website. Happy Sunday!

Hi Steve. What you propose is certainly an option. I've seen as high as 12% but I'm not sure you can get that at the moment. I'd have to check, but you can figure on 9-10% anyway. If you go this route I would suggest spreading your money out over 2 or 3 banks to protect yourself.

@@RetireInLakeChapala Correct as it is $250000 per bank. I'm still not sure if that is the best option though. It would provide the highest income for sure, but in the long run owning still might prove to be best. I plan on renting for 6 months to a year to Begin with, and hopefully by then I have things figured out. Thanks again for the great videos.

@@steve4296 Thanks for watching! We're always here if you have questions

Amazingly enough, yes. I am seeing quite at few. However, I don't know if Tesla is "importable" to Mexico. This is something I can look into for you if and when you get serious about moving down. You can keep the Tesla here if you apply for a Temporary residency for up to 4 years under a Temporary Import Permit but the car will have to be taken back to the states before your 4 years runs out because at the end of 4 years you will be 'grandfathered' to a Permanent Residency. Of course the other option is to start another Temporary Residency Visa in the states and do it all over again but that's not advisable. I don't know of any charging stations so one would need to be set up in your house limiting your range in Mexico.

Hi Steve. Yes, no problem not having a car. The weather is always great and there is a good bus system, taxicabs, and private drivers. I lived in Lake Chapala almost 5 years without a car and only got one because I needed it for work. Look forward to seeing you down here.

Thanks so much for the information!

@@swimfit57 we're always here for your questions. Reach out any time.

Thanks

I'll be in the same situation. : )