If you figure an across the board move, like going to Mexico and living pretty much the same lifestyle you enjoy here, what are the savings in terms of money? Is there a magic formula for saving big chunks of money in going there? The answer to the first question is yes, you can save lots of money by going there and maintaining a quality lifestyle. And, you can save big chunks of money, depending on how you go about it. Some practical thinking is important if you plan to do that. There's no magic formula for saving big amounts of money in Mexico, but you can do that if you use your head.
Do not overspend on a house there. You'll find that housing, or good housing, isn't cheap. Do your shopping well, pick out places where the best deals are available, and be willing to give up some things.
Do not move there and go hog wild because you have extra money to spend. Do that, and you won't save much if anything at all.
Don't jump ship without a plan. Get the best price possible for the property you sell here. Moving expenses can eat you up if you don't plan for that. As for me, I plan to hire it done, some big company that does that sort of thing, and I know that will cost me around ten grand. Don't worry about small animals. Moving them is a problem but it can be done without a lot of hassle.
Here's my story up to now: I'm looking at Baja California because going there can be less expensive. Do the research, read as much as you can, find the right place. An example of this is San Felipe, about a two hour drive from the border. Depending on your wants and needs, you can buy a nice house there between $100,000 and $150,000. You can even get a 2,000 sq. ft. house there for under $150,000, and you'll get a big break on all things pertaining to that house. You'll likely pay just under a hundred a month on HOA fees, but it's worth it. Homeowners insurance there is a fraction of what it costs here. Your property taxes will be negligible, maybe $150 a year, and your utilities will be slight.
In my case, a move to San Felipe would automatically save me right at $9,000 a year in utility costs, $5,000 in property taxes, and $5,000 in homeowner insurance. That's almost $20,000 a year on just those three things. If my properties here sell for just a moderate profit, my home in San Felipe will be paid for, so no house payments. And, if my living expenses there, including medical expenses and general living costs, turn out to be half what they are here, I'll save another $15,000 a year. I'll go from spending right at $70,000 here to barely stay afloat, to living on less that $30,000 there. That's cool 'cause it's about half what we'll have coming in each year.
I full well understand that everything looks better on paper than it turns out to be, but you have to start somewhere. I could live in San Felipe for $20,000 a year if pressed to do so. It's all about planning, so if you're considering moving there, make sure you do that well. Phone calls are cheap. Rattle as many cages as you need to, and you'll get answers.
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