
The cost of living in Puerto Vallarta is really contingent on the kind of lifestyle you want to live. If you want to live on the ocean, and you want to go out to restaurants 2-3 times a week, you’re going to be looking at a cost of living that will be equivalent to the cost of living that you would have in Canada or in the US.
Once you’ve been in Puerto Vallarta for a while, you tend not to go to the fancy restaurants as much as you used to, and instead find the nice little hidden gems that are known by the locals and by the expats who have been here a while. You start going to these gems where you get great food for a lot less money, unlike in the high-end usual tourist places that you used to go to when you first arrived. This type of lifestyle certainly contributes to a lower cost of living.
If you want to live on the ocean in Puerto Vallarta, you’ll be paying higher Homeowner’s Association Fees, and if you are living in a condominium unit, you’ will have higher property taxes to pay. On the contrary, living away from the ocean provides a better cost of living. The cost of living really depends on your lifestyle.
One of the biggest savings in Puerto Vallarta is in property taxes, which would cost you CA $4,000-5,000 (US $3,050 - $3,900) for a 2-bedroom condominium unit in Canada per year. In Puerto Vallarta, a similar 2-bedroom condominium unit right on the ocean will cost you US $150 in property taxes per year, which means significant savings.
Homeowners Association Fees in Puerto Vallarta depend greatly on the amenities in your condominium, such as the pool, the gym, and other large garden areas. Puerto Vallarta really is a nice choice, and what I like about Mexico in general is that it caters to everybody’s desire for his or her cost of living.
As far as groceries are concerned, in Puerto Vallarta, you can go to the local grocery store where you pay a higher price for the goods, or you can go to the farmers’ market where you can get fresh fruits directly from the farmers and pay a lot less.
The property values here in Puerto Vallarta and what you can get in Canada or in the US are fairly different. In Canada or in the US, properties that cost between CA $750,000 - $2 million (US $570,000 - $1.5 million,) in Puerto Vallarta will only cost about CA $500,000 (US $380,000) to be on the ocean, which is an equivalent property. That means you’re able to save first in the capital that you’re paying towards your home.
The cost of living in Puerto Vallarta can be very low. For example, my cost of living expenses here in Puerto Vallarta for the lifestyle that I choose to have are about a third less here than it is in Canada, and it could be lower if I wasn’t so addicted to some amazing restaurants that I frequent here in Puerto Vallarta, and if I didn’t like to drive around and use up gas. The choices you make will also dictate your cost of living, but I would say that you’re looking at saving about a third in your cost of living.
(Pictured: Great food at The Lateral Restaurant in Bucerias, near Puerto Vallarta.)