Costa Rica Real Estate Magazine

your monthly income or savings. If we examine in more detail what a monthly budget of US$1000 will get you then the first key consideration is location. You cannot realistically expect to live next to the ocean and do it on such a limited budget in most cases but if you choose an inland location where you will find more Ticos (Costa Ricans) living and you adjust your lifestyle to be more like the average Tico then US$1000 per month is doable. For example, here is a real budget for a single individual living in Grecia (located in the Province of Alajuela and 30 minutes from the International Airport in San Jose and 45 minutes from the capital city of San José and all it has to offer): Monthly Rent (including Electricity & Water) - for a small unfurnished 1 or 2 bdrm. Apartment with 1 bathroom. US$330. In this particular scenario there is no hot water provided. Monthly Food Bill (includes taking advantage of the weekly Farmers Market Fair) - US$360. Monthly Internet (50 Gb down & 10 Gb Up) – Cable TV & Cell Phone bills total - US$ 90. At this point we are up to US$780 which would leave US$220 to cover entertainment, eating out, transportation (buses are plentiful and cheap) and putting a little aside for medical/dental appointments. So, as you can see it is doable but does not cover a monthly health plan or lots of touring or entertainment. Also, if you decide to own a vehicle that will add other recurring costs like

gas, insurance, the yearly road permit (marchamo), yearly safety inspection, repairs, tires, etc. And note that the housing is unfurnished so an initial amount to furnish and equip your home would be necessary and possibly funds to face unexpected out of pocket medical expenses. Now let´s say that you are living in a well to do area of the GAM (Greater Metropolitan Area) like La Sabana, Los Yoses, Rohrmoser, Curridabat, Heredia, Escazu or Santa Ana then you will have access to the many conveniences of a modern city including big malls, many restaurants, entertainment and cultural venues, top private hospitals, and many other amenities but your monthly costs will definitely tend to be higher. Staying with the single individual renting a 1 or 2-bedroom unit with appliances included (semi-furnished) in a high-rise tower with amenities like a pool and gym, the monthly rent amount can be from US$950 to US$1500 (based on current offerings online October 2022). Your monthly food costs if you are only going to the major supermarkets will run you US$500-600. The Internet plus cable TV will usually be much faster and with 200 Gb Down can cost about US$60 plus about US$30 for a basic monthly cell phone prepaid plan. At this point we are in the range of US$1540 to US$2190 depending on your rent cost and now we must add entertainment (more to do in the city so usually more expenses), transportation costs, lots of restaurants to choose from, Medical/Dental costs from either

a Health Plan or setting aside money to cover those needs when they arise. So, we are basically looking at monthly costs that can range from US$2000 to 3000 dollars. If like many, you are attracted to the beach lifestyle then just how close you want to be to the beach and which beach town you choose will affect your needed monthly budget. Again, using the single individual and renting a 1 or 2-bedroom unit with appliances included (semi-furnished) in a high-rise tower with at least a pool, the monthly rent amount can be from US$1100 to US$1800 (based on current offerings online July 2023). Your monthly food costs if you are only going to the major supermarkets will run you US$600 800 as the beaches are generally a bit higher. The Internet (50 Gb down & 10 Gb Up) plus cable TV will usually be about US$60 plus about US$30 for a basic monthly cell phone prepaid plan. At this point we are in the range of US$1790 to US$2690 depending on your rent and food cost and now we must add entertainment (usually many restaurant and bar choices at the beaches), transportation costs, Medical/Dental costs from either a Health Plan or setting aside money to cover those needs when they arise. So, we are basically looking at monthly costs that can range from US$3000 to 4000. Again, many factors come into play including your age and health and if you are living for a short period of time or part of the year or perhaps you are here under the new Digital Nomad designation and take advantage of the health insurance offered or if you have applied and received your temporary or permanent residency status under one of the various qualifying methods available which would give you access to the universal CAJA (Government Health System) health facilities, services and prescription drugs for a monthly cost based on a percentage of your monthly income. Private health care is available, and it is of excellent quality and can cost from 30% to 50% of what you would pay in the USA for similar health care services. So, while Costa Rica does not offer the lowest Cost of Living in Latin America it does without a doubt offer the Best Quality of Life for the buck!

COSTA RICA REAL ESTATE MAGAZINE 21