THE COSTS TO LIVE IN COSTA RICA

Wondering about what it's going to cost to live in Costa Rica?

You're not alone. Everybody, it seems, who's ever taken a Costa Rica vacation has wondered the same thing.

If you move here, change is gonna come, starting with the cost of living in Costa Rica.

What Does It Cost to Live in Costa Rica?

Let me start by telling you a bit about what it costs me to live in Costa Rica.

My Costa Rica home is just outside San José in a reasonably upscale place called Escazu. It's a two-story 2000+ square foot house with four bedrooms, 3 1/2 baths and sits on a quiet street close to shopping.

There's no furnace or air conditioning because it's seldom above 84° and almost never below 60°.

Costa Rica weather in the great Central Valley is spring-like, year round. See for yourself.

My combined monthly expense for electricity and water comes to $60.00 or so.

There's another $75.00 for 24-hour security (not to mention $0 for roving security provided by the U.S. Embassy because apparently there are some important folks nearby).

But, of course, there's the phone. My monthly cell phone bill is $7.00 (all calls in Costa Rica are local).

Oh, and when I want to call my family or make a doctor's appointment in the States, my long distance calls cost nothing. Zero. Nada.

Why? Because my computer becomes my telephone (actually it is much better because I can see who I'm talking with in real time if they're at a computer that has a cam) with Skype.

I can also call anywhere on the planet using my phone using a nifty device called "Magic Jack." Calls to or from anywhere in the world are free.

How much are you paying for phone? Bet you can't beat $7.00!

My automobile insurance is $50 a month and my property taxes (which includes trash collection) are a staggering $260.00 a year (yep, it's not a typo--less than $22.00 a month).

The cable television package with ABC, NBC, CBS, FOX, CNN, a number of movie channels, and high speed internet costs about $60.00 each month.

All of these things combined cost me about $300 every month to live in Costa Rica. . . less than JUST my monthly electric bill in Florida.

Did I Mention My Costa Rica Maid?

Not that the dog and I couldn't use one.

But, if I had one (or you want one), a live-in actually, it'd cost about $350 a month or so (plus a bonus at Christmas). I'm not talking part-time here. That's the cost for a full-time maid!

Want to Live in Costa Rica?

What Does A House Cost? Or an Apartment?

But, I can tell you, Costa Rica real estate offers more for your money than almost anywhere in the United States, Canada, or Europe.

Now, I'm not going to kid you. It's not cheap.

But, how much would this cost in the mountains of California? Arizona? Colorado? Or anywhere else in the U.S. or Europe?

Click to check out the price of this Costa Rica home.

OK, maybe you're more interested in something a little bit. . .

smaller or

less expensive

so here are a couple rules of thumb if you're interested in buying.

First, construction prices vary from about $40-50 per square foot and up. In most places, you can get a very nice house for $100-125 per square foot.

Second, location, location, location is important. If you're interested in living in a place like mine, a lot will cost about $50,000 or more but if you'd like a small farm a couple of hours from San Jose, you can still find very nice land for $2,000-$4,000 an acre. Ocean front or ocean view is more, of course, but still thousands and thousands less than for comparable properties elsewhere in the world.

Finally, rents vary considerably, from about $350 a month but expect $500-$1,000 for most places (and more on the water).

Thus, like fixed expenses, housing costs to live in Costa Rica are typically bargains compared to the U.S., Canada, or Europe.

Click for more info about Costa Rica real estate.

Eat, Drive, and Be Merry!

Well. . .

yes

and

no.

Movies are much cheaper here. There are excellent multi-screen theatres around San José and it's common to see openings the same time here as in the States.

A typical ticket price is about $5.00 and popcorn (including caramel corn) and a soda will run about another $4.00. Imax will run about $10.00.

Gasoline and oil are either far more expensive or far less expensive than where you're from.

Sometimes Americans are shocked to find gas and oil prices double those in the States.

Europeans are also shocked but it's for a different reason: they can't get over how CHEAP gas and oil are here compared to where they live.

New cars, however, cost a LOT OF MONEY here so I've written separately about that issue. Click here if you're wondering whether it makes sense to bring a vehicle when you move to Costa Rica.

Groceries are, on average, probably not too different from many cities in the U.S.

Fresh fruit like papayas, pineapples, bananas and mangos are really cheap (especially if you shop the weekend street markets). So are rice and beans, both of which are subsidized for Ticos.

Chicken is about $3.00 a pound, milk $3.25 a gallon. A can of tuna is about $1.60 and expect to pay $1.50-$2.00 for a loaf of bread.

Imported items, unfortunately, are VERY expensive. Expect to pay at least double for imported food.

Finally, restaurant prices. MacDonalds, Burger King, Pizza Hut, Tony Roma's, KFC (yep, they're all here and more) are very similar in price to the U.S.

So, where does all this lead? Lots of people live in Costa Rica for $1,200-$1,500 a month, particularly if they buy a house outright.

Do you live so well, so cheap?

Credit Cards And Store Credits

TIP: Before you pay with a credit/debit card, always ask if there is a discount for cash (effectivo). I've actually received 20% off my bill in some places because the vendor wanted cash!

Most of the larger stores also allow folks to buy on store credit but THIS IS A FOOL'S GAME if you live in Costa Rica. For example, Hipermas (a huge department store owned by Walmart) offers very small weekly payments but at an annual interest rate of 60%.

Yep.

It's not a typo. 60%!

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