What's the overall cost of living in Placencia, Belize?
Boris Mannsfeld - Boris Mannsfeld & Associates
You can rent a one-bedroom apartment in Placencia for US $500 a month, about 5 minutes away from the beach. A lobster is $5 a pound, and that is for the meat; not the whole lobster with the tail. A beer at a bar costs $2.50. A cappuccino is $3. You can get lunch at a good local restaurant at $5. You can get a top-notch dinner at one of the best restaurants at $20.
Gas is $6.50 a gallon. Phone service is $20 a month. Cable TV is $25 a month, so in Belize,...
You can rent a one-bedroom apartment in Placencia for US $500 a month, about 5 minutes away from the beach. A lobster is $5 a pound, and that is for the meat; not the whole lobster with the tail. A beer at a bar costs $2.50. A cappuccino is $3. You can get lunch at a good local restaurant at $5. You can get a top-notch dinner at one of the best restaurants at $20.
Gas is $6.50 a gallon. Phone service is $20 a month. Cable TV is $25 a month, so in Belize, it is quarter a pound than what you pay in the US.
You can buy a two-bedroom, 1,000 square foot house for $180,000 and up that is safe and just five minutes away from the beach.
In Placencia, a two bedroom, two bathroom, 1,400 square foot house with a Caribbean beachfront on a quarter of an acre lot would start at $500,000. You can get a ¼ acre beachfront house that would be about 80 feet from the beach for $200,000.
A 1,400 square foot, brand new condo, which is built in concrete with two bedrooms and two bathrooms is about $400,000.
Posted December 1, 2014
Erin Ivy - Captain Jak's
I cannot put a dollar amount on the cost of living here in Placencia because the cost of living here depends on the lifestyle that you choose. When we go shopping here, we buy mostly local brands. All the aisles in the supermarkets here are now filled with American imported products. A bag of Ruffles here in Placencia is around US $6.50, but I am not happy to pay that amount, so I do not eat chips. There are local cassava chips that you can buy in little...
I cannot put a dollar amount on the cost of living here in Placencia because the cost of living here depends on the lifestyle that you choose. When we go shopping here, we buy mostly local brands. All the aisles in the supermarkets here are now filled with American imported products. A bag of Ruffles here in Placencia is around US $6.50, but I am not happy to pay that amount, so I do not eat chips. There are local cassava chips that you can buy in little packs that cost only 50 cents, so that is how I get my little fix. There are also vegetable trucks where you can buy your fresh produce. We eat a lot of fish and a lot of chicken. We do not buy a lot of the imported products, so our food bill here is relatively inexpensive.
When we go to a happy hour, our drink is about $1.50. I think if you wrote down all the things you spend in the US for a day, you will say, “Oh my, I am spending $100 a day!” Here in Placencia, it is completely different. You do not stop at the store or at Starbucks to get coffee every day. It is how you do things differently here in Placencia that makes you not spend a lot. We used to spend more in the US.
My husband and I are both healthier due to the lifestyle change that we have here in Placencia. In the US, even the produce has preservatives, whereas here in Placencia, they do not put any preservatives in fruits and vegetables. My husband lost 30 pounds in 6 months without even trying. He was borderline needing high blood pressure medication because of the high powered job he had, but now, he is not even close to what his blood pressure used to be. We attribute that to a lot of walking, biking, and on the food that we eat here in Placencia. And I mean walking and biking to get things, since we do not own a car. We do not go biking 20 miles every morning, so it not really serious exercise, but as we do it, we get healthier in the process.
Posted January 12, 2015
David Keener - Vision Properties Belize
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Overall, the cost of living in Placencia is significantly lower than in most cities in the United States or Canada. While Belize certainly does not have the lowest cost of living in Central America, I would say it is similar to Panama or Costa Rica, but being truly English speaking, the numerous short flights available to the US, the incredibly friendly people and how safe it is, I feel it is by far the best value in the region. The cost of real estate development is at a...Overall, the cost of living in Placencia is significantly lower than in most cities in the United States or Canada. While Belize certainly does not have the lowest cost of living in Central America, I would say it is similar to Panama or Costa Rica, but being truly English speaking, the numerous short flights available to the US, the incredibly friendly people and how safe it is, I feel it is by far the best value in the region. The cost of real estate development is at a significant discount compared to US or Canadian prices but prices are increasing and as more folks find out about all Belize has to offer and I would certainly expect that to continue. Beachfront land is truly at a small fraction in cost compared to what it could be purchased for in say Florida or even the Texas Gulf Coast. Canopy jungle land, even that with mountains, amazing sea views and yes, even acreage with waterfalls can be purchased for very reasonable prices. The cost of land and property in Placencia has gone up in recent years because of the limited supply and the growing demand, which I feel is a result of many factors, both on a local are more macro level. The completion of paving the 26-mile Placencia road was huge and really was a key driver in attracting more tourism and foreign buyers of homes and real estate for the entire area. Retires and others looking for a higher standard of living at a lower cost with less taxes and government interference has certainly impacted demand in a positive way over the past 5 years.
Those interested in purchasing land should work with individuals with proven tract records, and make sure more remote properties have good access and electric service or fully understand and have a plan to build such themselves, BEFORE purchasing. As in many places but certainly in Belize if development amenities, roads, power, etc., are not there when you are looking DO NOT assume they will be there anytime soon.
Property taxes are very low in Belize, certainly in comparison to rates in the US and in Texas where I am from. There is a transfer tax that is paid by the buyer at the time of closing on a property but it is a one time charge and certainly much better than a large property tax bill to pay every year like in the states.
Electricity in Belize, like most or all Caribbean countries, is significantly higher than in the US with a/c usage the absolute biggest use of electricity in most larger homes. In our high end developments we have for years now been installing grid tie solar packages, super high efficient inverter a/c systems and LED lighting in all our homes that have drastically cut a/c usage and energy bills.
On thing that I find unique and very interesting is that retires in Placencia can and do live very affordably by purchasing smaller homes not on the waterfront, and using little or no a/c while others chose to purchase large waterfront beach homes with a/c in every room and all the modern appliances and gadgets you would expect in a nice home in the States.
(The compound on Little Harvest Caye, a vacation rental offshore from Placencia, Belize, pictured.)
Posted February 15, 2016