Monday, November 15, 2010

Cost-of-Living In Belize

sailboat Belize
A Sailboat In Belize
Source: Flickr via Creative Commons.  Photo by Dena Hayes

For people contemplating purchasing land in Belize and buying a home it can be challenging to find decent information on the cost-of-living.  Lan Sluder has written an outstanding book called "Living Abroad In Belize" which helps answer many of the basic questions that potential investors have about starting their life in Belize; including an overview on the cost-of-living.  The following is an extract from Sluder's book that I think you may find valuable:

Average Middle-Class Monthly Budget

  • The couple has paid for their 150K home already.
  • The couples Ford Explorer is also paid for.
  • The couple chooses to buy health insurance, which includes medevac coverage, from and international insurer.
Example of Monthly Budget ($US):

Electricity (750kwh): $158
Telephone (incl. long distance): $110
Butane: $35
Groceries: $250
Cable TV: $25
Internet: $50
Entertainment and dining out: $200
Property tax: $24
Auto insurance: $20
Health insurance: $400
Out-of-pocket medical expenses: $150
Home insurance: $150
Gasoline (40 gallons): $160
Auto maintenance: $100
Clothing: $75
Householder help/caretaker (part time): $250
Misc. personal expenses: $275

Total: $2,432

Although personal spending habits need to be factored into any budget I hope that Sluder's estimates shed a bit of light on the cost of living in Belize.  If you have other sources of information that others can benefit from please add a comment.



Yarrawonga land said...

Hi CD,

Isn't interesting to see the total cost of something in which we want to do when you break it down like that. A lot of people would think straight away that they couldn't afford to live in Belize if the idea was put to them, with out taking the time to break it all down.

To add to that when I'm working out my costs for say a holiday or something I always add a buffer of 30% that way you are pretty much covered no matter what happens.


Chris Dodge said...

Thanks for your comment Yarrawonga.

Belize, like any country, can certainly vary considerably in terms of cost of living. I've provided one example based on some published research and I'm sure that there is more that can be added. Feel free to share some other statistics if you like as I think this would be really valuable. I also found another site that breaks down the cost of living in Belize that may be helpful to others as well:

Thanks for sharing!

Anonymous said...

Has noted. I will recommend to friends and acquaintances