Best Places In The World To Retire

About 10 years ago we went through the building process in Puerto Vallarta and we’re exploring it again right now.  At a minimum, the cost to build in Puerto Vallarta is about $75 per square foot up to about $150 to $200 or more depending upon that level of luxury and finishes.

 

This is the cost without the land, but please keep in mind that we have a lot of hills and cliffs in Mexico in general, and in Puerto Vallarta in particular. So if...

About 10 years ago we went through the building process in Puerto Vallarta and we’re exploring it again right now.  At a minimum, the cost to build in Puerto Vallarta is about $75 per square foot up to about $150 to $200 or more depending upon that level of luxury and finishes.

 

This is the cost without the land, but please keep in mind that we have a lot of hills and cliffs in Mexico in general, and in Puerto Vallarta in particular. So if you’re building a home on a flat piece of land with a simple concrete slab, your construction cost are going to be a lot lower than if you’re excavating and putting in foundations and pylons into the side of a cliff. 

 

$75 a square foot would get you a lot of concrete, a bit of wrought iron and glass, simple porcelain tile floors, Mexican tile kitchen countertops and bathrooms, simple white Home Depot- or Lowes-style toilets and sinks. $100 to $150 per square foot is going to get you maybe a bit of marble or granite in your kitchen, maybe some wooden doors and cabinets and stainless steel appliances as opposed to white. When you spend in the $170 to $200 per square foot range, you’re talking about pools with slate tiles, custom-honed finishes, marble floors, cantilevered spaces, high architectural designs, etc.

 

It’s difficult to give an accurate cost of construction comparison between Puerto Vallarta and the US because the US is very diverse.  Building a home in San Antonio, Texas is going to cost a lot less money than building a home in New York City. But I would say that overall, building a home in Mexico costs about half of what it cost in most places of the US.

 

(Architectural upgrades in great room, Puerto Vallarta, Mexico, pictured.)

If you are a Nicaraguan who works here and you are associated with something that is our own version of social security, that social security system provides a certain level of health care for you. If you want to have an exam or laboratory test, they’ going to give you an appointment for 3 weeks later, but you don’t have to pay for it. Usually, you don’t get to choose your doctor.

 

If you are an expat, US Medicare doesn’t cover your...

If you are a Nicaraguan who works here and you are associated with something that is our own version of social security, that social security system provides a certain level of health care for you. If you want to have an exam or laboratory test, they’ going to give you an appointment for 3 weeks later, but you don’t have to pay for it. Usually, you don’t get to choose your doctor.

 

If you are an expat, US Medicare doesn’t cover your medical expenses here in Nicaragua. We do, however, have many very good health insurance options.  One of the most popular is through the Vivian Pellas Hospital (a world class hospital with international standards of excellence), which has a plan you can join. The monthly cost to you will depend on how old you are, your gender and whether or not you have pre-existing health conditions. In general, I don’t think the monthly fee is more than US $60. This will get you 30% - 70% discounts on the total cost of the hospital services (which, by US standards are already extremely low), including the doctor’s fee. Of course, in order to use this plan, you have to use the Vivian Pellas Hospital. If you need hip replacement surgery, for example, you can have it done there.

 

If you want an annual physical check-up, Vivian Pellas Hospital also has a package for that. It costs about $450, which includes all doctor-ordered tests.

Generally, it is heavily legislated that if you are going to build something, you have to build to a certain standard and that standard tends to be good. There are no modern methods of building here. In other words, there is no steel frame, no wooden frame, or that kind of thing. We build using bricks and mortar. The structure is still reinforced with concrete on the structural load bearing parts of the building, villa, or apartment. You would also have a slab on each layer. If it is...

Generally, it is heavily legislated that if you are going to build something, you have to build to a certain standard and that standard tends to be good. There are no modern methods of building here. In other words, there is no steel frame, no wooden frame, or that kind of thing. We build using bricks and mortar. The structure is still reinforced with concrete on the structural load bearing parts of the building, villa, or apartment. You would also have a slab on each layer. If it is a two-story house, you would layer a concrete slab across and then you would in fill with brick. You would lay and run the services and utilities by literally breaking the brick and creating a little tunnel for the electric, the sewerage, and all the plumbing.

 

Generally, construction here in Algarve is very solid.  This is not California in terms of earthquake risk but Portugal is not far away from a meeting of two of the tectonic plates in the Atlantic. The last major earthquake was quite some time ago, in 1755, it was very destructive so most of the modern buildings here are built to earthquake standards or close to it. From a physical construction perspective, you would find very solidly built properties. You will not be knocking on drywall and wooden structures here. 

 

In terms of the quality and finishing perspective, the structures here in Algarve are very good, especially the modern builds. There is a proliferation of marble in Portugal so you will see a lot of buildings or homes that were finished with marble and with big tiles, which are very modern and clean. There is a very modern look to the inside of the house. The bathrooms are modern as well, with suspended sinks and a lot of glass.

 

An average-sized property is 1/3 bigger in Portugal than it is in Spain. Sometimes the size is reflected on the price and sometimes it is not. The pricing depends on the area. We find that people remark that the residential construction here has more space than they would have expected. A typical two-bedroom apartment, for example, would be in the region of 80 to 100 square meters (860 square feet to 1,077 square feet), whereas in Spain, the average is about 60 to 80 square meters (646 square feet to 860 square feet).

 

( Modern Portuguese home, pictured.)

If you live in San Francisco, you will be living among higher end socio-economic people in an urban environment, with lots of available high-end amenities.