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Owned a home and lived full-time in Mexico for 5 years (2008-2012). Had to return to US to care for elderly relative so we sold our MXN home. He died last year. We are currently looking to purchase another home in MX and return there to live out our days.
Submariner, my social security is $1,074 after medicare. It's just me. Could I get along okay there?
My family flinches when I say Maine but really, how much different temperature wise can it be from Minnesota?
Among our close friends, we know people on SSDI of $750/month. Some are on SS with incomes as low as $800, others get SS as high as $1500/month.
So long as you own your house, it is not bad.
We have been here 11 years. We know a number of retirees who have moved here in the last 11 years, just as we did.
If you can not afford the $20k to buy a house, then obviously you will be more at the mercy of landlords. My youngest son's in-laws rent a 2bdrm house for $450/month.
Among our close friends, we know people on SSDI of $750/month. Some are on SS with incomes as low as $800, others get SS as high as $1500/month.
So long as you own your house, it is not bad.
We have been here 11 years. We know a number of retirees who have moved here in the last 11 years, just as we did.
If you can not afford the $20k to buy a house, then obviously you will be more at the mercy of landlords. My youngest son's in-laws rent a 2bdrm house for $450/month.
Submariner, how far north are you? I'm not looking for you to name your home town, but relative to, say, the southwestern border with NH, how far north (or maybe northeast)? I am just wondering where one could get a house for $20,000 or rent one for $450/month. To my NJ ears, that sounds like another world! LOL
Owned a home and lived full-time in Mexico for 5 years (2008-2012). Had to return to US to care for elderly relative so we sold our MXN home. He died last year. We are currently looking to purchase another home in MX and return there to live out our days.
What part of Mexico did you live in and where are you looking to move back to?
Moving abroad certainly isn't an option for everyone and won't work out so renting for a while first is a great idea to make sure you found your perfect place.
Submariner, how far north are you? I'm not looking for you to name your home town, but relative to, say, the southwestern border with NH, how far north (or maybe northeast)? I am just wondering where one could get a house for $20,000 or rent one for $450/month. To my NJ ears, that sounds like another world! LOL
I did a search near Caribou and it is possible to find some homes near the $20s. However, most need considerable work. I'm sure there are more available in some of the surrounding communities that may be less expensive and in need of fewer repairs. Even in Bangor there are some decent properties available near $50k. Even here in CT I have come across some nice condos under $40k with decent maintenance fees. It can be done. Hopefully at the retirement stage of life most people will have something of value that they have paid off that would allow them to secure a safe and comfortable place to live in retirement. Moving far away doesn't have to be a necessary requirement with a modest SS income in that case. For many people I know nearing retirement the biggest financial trouble they have gotten themselves into is taking nearly all the equity out of a house they had paid off or nearly paid off and/or borrowing or stop funding their retirement to pay for their children to go to college. College has been oversold and college and post-secondary educational opportunities are numerous. Being convinced that your child needs to go to a $50,000+ a year college to get a good job is a dangerous myth and one which has led many to positions where they feel they can never afford to retire.
Submariner, how far north are you? I'm not looking for you to name your home town, but relative to, say, the southwestern border with NH, how far north (or maybe northeast)? I am just wondering where one could get a house for $20,000 or rent one for $450/month. To my NJ ears, that sounds like another world! LOL
If you want a 3rd world country, where the cost of living is very low, where you can buy a nice condo for around $50,000, and where the climate is a compromise between cold and hot, and where there's lots of fishing, basketball, horses, and bourbon, you should try Kentucky.
Because of age and family consideration,we have moved dack to the money pit,CT..
We lived in North FL for 25 years,our exemptions,$72,000,hence no taxes and no pay back unlike CT,which if you were to qualify most area's will put a lein on your property payable at death or sold.
Among our close friends, we know people on SSDI of $750/month. Some are on SS with incomes as low as $800, others get SS as high as $1500/month.
So long as you own your house, it is not bad.
We have been here 11 years. We know a number of retirees who have moved here in the last 11 years, just as we did.
If you can not afford the $20k to buy a house, then obviously you will be more at the mercy of landlords. My youngest son's in-laws rent a 2bdrm house for $450/month.
Best and most concise reason to own a tiny house.
Oh the horror of paying $450/month for 2BR. Around here people pay $600.mo for a room in an overcrowded 8-person house.
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