The dream of packing it all up and moving to a Caribbean island is, for most, just that: a dream. Besides the logistics and the thought of giving up creature comforts that one is accustomed to, cost of living is a big concern. The majority of people assume that tropical island living is out of reach for middle-income earners, but that just isn’t true.
For someone looking to retire after years of work, or perhaps just seeking a new lease on life in a more exotic locale, island living can be quite affordable. To begin with, we must understand the differences in regions. Many island nations in the region have entirely different social, economic, and cultural norms from one another. Correspondingly, many of the islands here belong to different treaties and trade organizations, which can have extensive influence over the costs of goods and services that require import and export. Tourism is an economic pillar that supports the region, and is a growing and considerable factor when examining lifestyle options and their associated costs.
With all its accolades, Ambergris Caye, Belize offers a surprisingly affordable lifestyle. As the top tourism destination, this laid-back island offers the comforts of home alongside the tropical experience, and is located just a few hours’ flight from several U.S. cities. Needless to say, the expatriate population here speaks to this for themselves just by being here, living in Belize.
Despite what you may have been made to think, life on Ambergris Caye is not out of your price range. In fact, ECI advises that when investigating a new real estate market, that you do your due diligence. Even a short visit can paint a much better picture than any amount of research done on Google. By travelling to the destination in person, and spending time in the environment, you learn things firsthand, and can therefore make our own assessments of the lifestyle, community, and cost of living.
A few things to keep in mind when planning your tropical getaway are whether you will buy or rent. For homebuyers, condos and private homes vary in price. A one-bedroom oceanfront condo unit or bungalow could start at $170,000 and range up to $190,000. Luxurious beachfront condos in larger developments can go past the US$1 million mark. It is all about prioritizing needs and wants, and of course, budgeting.
Ambergris Caye apartment rental rates can vary depending on size and location, starting at $750 to $1,250 for an average rental unit. A reasonable budget for two people looking to rent would be $3,000, covering rent, utilities, food and even incidentals like entertainment and dining out.
You may find yourself asking just what exactly comes at this price, and the truth is that some things are slightly costlier on the island than they are elsewhere. The reason why is not unique to Ambergris Caye. Anywhere in the Caribbean will have various imported goods whose prices reflect regional availability.
Buying fresh, local produce and seafood is just one example of how to both improve the quality of the food in your diet and also save on your cost of living in Belize. With its waters a major draw, her bounty tends to be more affordable and fresh as well. With a distinct lack of franchise restaurants, and more local eateries and produce stalls, the options for fresher and cheaper are abundant. Even if one were to take a break from cooking, a meal or two out at one of the many local restaurants will be fresh delicious and most importantly, affordable.
Ambergris Caye offers the best location for investors and second-home buyers seeking ownership of valuable beachfront condos in an affordable Caribbean environment. To do your due diligence and pay us a visit, check out the link here.
