One of the most frequently asked, but also most complex questions I receive, is ‘how much does it cost to live in Costa Rica?’
There are so many variables that go into answering this question, that it takes one on one discussion and consultation – something I definitely enjoy doing. But many want a more general response, or a starting point for their own research.
I don’t feel like I can share my personal budget as an example – for a host of reasons. But I’m going to share a budget that I think is feasible and reasonable, based on our own.
Now, remember, this is just a starting point. It’s up for discussion. Got a thought? Leave a comment. This information will be useful and helpful for all those planning and preparing for a move.
One last caveat – I have said it before, but I’ll say it again. It’s all about choices. You can live on less than $1,200 a month in Costa Rica or you can spend upwards of $15,000 per month – we have friends who do both.
And now, keeping all that in mind, here is a budget for a family of four living in Tamarindo, Costa Rica. This would likely be a good starting point for anyone planning on living in a popular beach town, i.e. Nosara, Playas del Coco, Sámara, or Jacó.
One Time Expense
| Car (15 year old SUV) | $8,000 |
Annual Expenses
| Marchamo (govt mandated car insurance) | $200 |
| Riteve (car registration / annual inspection) | $200 |
| Car Repairs | $1,500 |
| Comprehensive Health Insurance | $5,000 |
| One trip ‘home’ | $4,000 |
| Annual Expense Total | $10,900 |
Budget – Monthly Expenses
| Rent (3 bedroom decent house) | $1500 |
| Electricity | $350 |
| Water | $75 |
| Cable and Internet | $70 |
| Gas | $200 |
| Groceries | $700 |
| Babysitter | $50 |
| Restaurants | $300 |
| Kids extracurricular activities | $250 |
| Mobile phone (2) with data | $60 |
| Miscellaneous – gifts, haircuts, little luxuries | $350 |
| School | $800 |
| Clothing | $200 |
| Total Monthly Expenses | $4,905 |
I think this budget is feasible. You could very easily spend more. You could be more frugal. I’ll be honest and say that we spend more, with the biggest difference being our travel expenses. Actually, that and the miscellaneous categories are about the only line items that are higher. We go on in-country vacations, as well as travel north to see friends and family a couple of times a year.
What do you think? How far off am I from your family’s budget?
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