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Income Requirements


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#1 kixy1

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Posted 13 July 2013 - 06:24 PM

I know the question has been raised here before, but it's been awhile.   With the new immigration laws and requirements I'm wondering how it all breaks out.

 

I guess my first question is,  What the current cost to live in Cozumel?   If one were looking to rent a two bedroom apartment, TV, Internet, Cell Phone, etc....   I'm looking for a monthly range

 

Second question is how much income do you need to have for Immigration?  I believe there is a minimum per person, or family, if you're looking to live there permanently?

 

Thanks!

 

 


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#2 Coz2wonder

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Posted 13 July 2013 - 06:55 PM

You need to first decide were you want to live, that will determine the cost of a rental.

Next is what size, and amenities do you want?

 

I have seen a lot of places being advertise for around about $700 a month.  Be very careful if you use the A/C.  That could equal the rent.

 

As for the financial requirements, I have attacked an article that lays the requirements from Yucalandia, which is a good source of information.

http://yucalandia.co...orary Residency


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#3 hillbilly

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Posted 16 July 2013 - 07:55 AM

We know several people who rent cheaper places, Paula is correct about location, many less desirable apartments in Centro part of town can be had for 5000 pesos per month, A/C is manageable if you keep an eye on the bill. Most expense here is from Eating out or entertainment. It can add up quickly if you are not the cook at home type person. On the other hand we know a couple who have all healthy meals pre prepared two times daily for about 6,500 pesos. Obviously it can vary wildly. What I can say is that living on 2 thousand a month really takes paying attention for two people. Other people get bye on 1500 per month. Really a tough question as you have to hunt and peck for deals, kinda something to do if you are retired. Surprisingly enough here is not the cheap to live Mexico we thought it was. Tourist town etc drives pricing especially at restaurants. 

Whatever it is a great place to be, still laid back and friendly


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#4 pato52

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Posted 16 July 2013 - 09:54 AM

We read a survey years ago about the most expensive places in Mexico to live. Cozumel took the top spot!


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#5 Freezin' Canuck

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Posted 16 July 2013 - 04:40 PM

I don't know about other places in Mexico to compare, but I find it much cheaper to live here than in Canada for the basics, at least for five or six months a year. Certainly more than pays for the plane fares to and fro. Debated the car, but concluded can get to most places by walking (exercise beneficial) or take a cab (under $3.00Cdn  to downtown) and the buses are ridiculously cheap (helps to learn Spanish). For the occasion when we have guests and want to go to the wild side, we'll rent a car. We own our house so can't help there, but our property taxes are so extremely low ($130 Cdn annually) by comparison to Canada. Food is still about half (we pay $600 @ month in Canada) if you prepare your own meals, and the produce (especially the fruit) is plentiful and much cheaper and fresher (as is the beer $10-14Cdn @ dozen). People are right about the electricity though. It can tear up a budget pretty quick. Internet and cable ($60Cdn for both per month) is definitely cheaper. Even eating out (and you live differently if you live here as opposed to having three weeks where you hope to be free of domestic labour once a year) is generally cheaper.  We're pretty healthy. Thus, so far, our dental, drugs and doctor bills have not been the terror we expected coming from a universal health care environment. Health insurance for serious illnesses though can be very pricey especially as we age and approach the 60, 70, age...and beyond cut-offs.


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#6 Coz2wonder

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Posted 17 July 2013 - 08:50 AM

Health insurance is CHEAP here compared to the US.

 

I pay $1,800 PER YEAR for major medical.  My husband pays about $2,200 a year with the same policy, but with an international rider.

 

Compare that to what a policy costs in the states, and it is dirt cheap.

 

You can purchase the  public health insurance, which runs about $300 a year for a policy. 


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#7 Coz_Aholic

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Posted 19 July 2013 - 04:07 PM

I currently rent a nice 3 bedroom home with living, dining, kitchen and den and I pay 6000 peso a month  I know it is a super deal, but they are out there.  I live on a limited income and I surely never do without.  I just avoid places like Pepe's unless it is a very special night.  I eat healthy with lots of veggies and fruits, fish and chicken.  With my INAPAM it really allows me to do some travel and other things.


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#8 kixy1

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Posted 19 July 2013 - 09:59 PM

Thanks Paula!   If things stay somewhat level, looks like meeting the requirements won't be an issue. 

 

We've decided not to buy until we can spend a year down there, so we'd be looking at renting a 2 bedroom apartment.  We aren't too high-rollin' now, so living leaner won't be too hard.  However, we do like to eat out, and I'll be budgeting in some occasional diving.  I'm sure we'll want to go to a beach club now and then for the day too.  Why else would we want to live on a tropical island!?

 

Last trip we tried to eat in, groceries seemed to be cheaper than home.  We failed miserably LOL  but in our defense it was vacation!  Just too much easier, and more enjoyable to walk back to El Pique or Los Oates sit and have someone bring me a taco....

 

I'm working on my Spanish in hopes by the time we get there I'll be able to navigate a trip to the butcher or set up the cable.  I think my biggest concern is finding a place with crossbreezes and the issue of transportation.  We like to get out and explore, especially if we're trying to decide on an area to live, or even if we think we can handle living on an island... without a car I'm worried we'll feel a bit claustrophobic.  No way I'm driving my car from SEATTLE!  LOL

 

Again, thanks for sharing your expertise.  You guys rock!


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#9 Coz2wonder

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Posted 30 July 2013 - 11:00 AM

I think if you want a decent standard of living, and taking into account rent, electric, water, food, entertainment, taxi/rental I would estimate minimum of 3k a month.  Electric (a/c) will decrease in the winter months.

 

That does not take into account airfare that you need to consider if your on a tourist visa (you will have to leave every 180 days).

 

Yes, there are those who can live on a shoe string, and get by.  

 

My reality is  3k plus a month is minimum.  If you have funds left over, then that's only good news.


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#10 mexpat10350

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Posted 01 August 2013 - 06:15 AM

@Paula......Are you saying that $3k will suffice for one person or for a couple?


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#11 FSchreier

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Posted 05 January 2014 - 10:40 PM

We have a few questions about cost of living and the actual paying of monthly bills.  Seems that electricity will be our real budget test, so please elaborate. 

 

1.Can you give a monthly range for the following: 2bedroom, in Corpus, 2 people,. 

2.Next Question:  do electricity rates vary by section of the city? 

3.If so, is there a pattern or scale we can refer to while shopping for a rental? 

4.What does everyone do to cut the cost during the summer?  Hints are very welcome!

5.Lastly, how do we pay the utilities locally?

 

Thanks for all the help..Love the forum..:-)


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#12 Charles

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Posted 06 January 2014 - 12:23 AM

A question: Was there a reason you wanted to live in Corpus Cristi? Two bedroom (I am guessing you want furnished) are not abundant, lots more one and three bedrooms. My guess on prices in that area might be from a low of $650 a month to perhaps $1,200 dollars monthly. If you're lucky, I'd consider a fair price for a decently furnished place around $700 to $800 again dollars.

 

Electric rates are based upon previous consumption. Ask to see previous electric bills to get an idea. Older construction using solid cement makes for living in an oven. Newer construction using more modern insulation materials would provide comfort and cut bills in half. There are a dozen other factors from shade to ventilation and orientation to the afternoon sun that affect comfort and electric consumption. Some claim that people "adjust" to the heat, my personal experience is the opposite. When you're sweating bullets sitting in front of a fan at midnight, that's hot.

 

Most people "get by" during the daytime and depend upon air conditioning for only a bedroom at night to sleep. With decent ventilation and fans and plenty of hydration, most can survive the daytime heat, even in the summer. You don't want to try to walk anywhere during the "heat of the day" which can start as early as 9:30AM. It isn't just the temperature, but the high humidity that makes the heat so oppressive.

 

Biggest source of potentially reducible electric consumption would be electric hot water heaters. Turn them on during the cooler months only when hot water will be needed. Forget washing clothes or dishes with hot water or heat a pot on the stove. Test your meter before you move in. Turn everything off, unplug the fridge etc. and then check for any change in your meter overnight. Learn to read you meter and track your consumption. It really isn't a big deal, but rates are higher than what most people are accustomed to and perhaps people exaggerate to prevent sticker shock. Personally I'd consider bills of $150 to $200 a month, paid every two months to be about average for the gringo transplant. Some might sing that their rates are never above $30. After you "learn the ropes" it might well be realistic to have bills in the $50-$75 a month range. Again all amounts are in dollars. There is a significant learning curve and period of adjustment. Some adapt easily, while others struggle to try to adapt the culture and environment to fit themselves.

 

 

Paying utility bills will be easy, you can pay at grocery stores, banks or go to the source. Personally I like to pay water bills ahead and go to the CAPA office on avenue 15, between Juarez and calle 1.

 

The tricky part can come in contracting services for cable TV and Internet. That can be easy, next day set up, or if your area is "saturated" with no lines available....who knows? I have always had good luck and found quality technicians and my cable/Internet installations have gone well.

 

Now if you have a pool, all bets are off regarding prices.


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