Tired of working just to pay the bills and have no down time? Retire early or just plain relocate to the Caribbean and save money in the process! Check out Honduras … it offers cheap real estate and a low cost of living.
Jason and Sandra recently relocated from Chicago with three boys ages 8, 10, and 13. What do they love most? Scuba diving! Spanish immersion in one of the private schools is an added bonus.
Mike and Angela moved from San Diego with their 6 and 4 year old girls. They both work from home and are able to enjoy the beach in the mornings and hire a nanny in the afternoons while they work from an office space they rent, in addition to their home inland. Total expenses, including rent, $1500/mo.
David decided to retire from his job at the post office at age 55 and is now renting an apartment and traveling Honduras and Central America, all at a fraction of the cost of his New York apartment.
Connie and Abe are a young couple planning to have kids in the next few years. They have invested in real estate after looking at New Tecumseth, a scuba diving business, and plan to make a living on the Honduras island of Utila.
Explore Honduras.com to get a feel for what to expect, and then visit the area you are thinking of moving to several times, and finally rent a place nearby to get the full experience before committing to an investment.
A Brief Overview
Weather – there are basically two seasons: dry and rainy. Rainy season varies, but typically lasts three months from November to January. Some years it starts early and some years ends later. The mainland is a little different. Rainy season is almost the opposite, and can run May to November.
There is a reason HGTV is filming in Honduras. Particularly Utila, where prices for a slice of paradise are extremely cheap compared to their counterparts in other parts of the Caribbean. Home lots start as low as $10,000 and beachfront for under $80,000. Head to the mainland and it is even cheaper. Buy a home already built and save yourself a lot of headaches and legalities. Or build your dream home with any of the highly regarded construction teams. Just be sure to do your research first.
Here are a few homes similar to ones featured on HGTV: Turn key home inland with ocean view and 5.3 acre mini-farm, or this beachfront luxury home.
On Utila one can get around on a moto or bicycle. Or, if you want to be fancy, a golf cart or 4 wheeler. Monthly expenses can range from $500-$2000 per month depending on your lifestyle, and where you choose to live. In Roatan you may need a car, but can find an affordable one with little to no cost of insurance (depending on your level of risk!).
Honduran banks offer close to a 10% interest rate on a savings account. If you can put $50,000 in an account, you can receive $500 per month. Double that, and receive $1000 covering expenses. If you need more money, start a small business. Restaurants and bars or a gift shop. Each island offers different opportunities. Or, simply work from home using the internet. In the past, internet access was spotty, but now it is nearly seamless. Options for back up.
Health care you may ask? Very affordable. MRI’s are under $200. Doctors are available in La Ceiba but many travel to San Pedro Sula or Tegucigalpa for more involved treatments or procedures. Health care insurance is up to you. A Doctor visit, plus meds and exam is 1/5th of what you would pay in monthly premiums. If you need the highest technology available, then moving abroad is probably not for you. You may want a second home to visit.
Whatever your reasons for moving, Honduras is a great place to relocate. Although this article covered the islands, there are many small beachfront communities on the mainland that are excellent real estate deals as well.
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