How to Move to Mexico: Cost, Visa, Perks & Best Locations

The dream of retiring comfortably is universal. That’s why many people look for a different country to retire and live in relaxation. Looking to retire affordably in a warm climate? Look no further than Mexico.

Choosing to retire in Mexico is a popular option, especially among North American retirees. This is due largely to Mexico’s affordable living cost and aesthetic. 

From convenient healthcare planning to cheap real estate options, this country is ready to offer you everything you need for a smooth transition. Interested? If yes, stay with us till the end to learn the facts on a full scale.

Quick Summary

Mexico is a perfect option to move as it is affordable with rich culture. With all the essential modern improvements and accommodation(s) for retirees, this country has been a popular destination for older people.

This country has a comparatively easier set of visa requirements and the medical facilities are high quality. With a pleasant climate and numerous beaches, Mexico’s atmosphere is undeniably pleasant.

Cost of Living In Mexico

Before planning for retirement abroad, the first thing to understand is the cost of living cost in the area. So, let’s start our discussion with the average living cost in Mexico. The table below will help you get a basic idea of the living cost in Mexico:

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These are the basics but not all. These amounts can be different based on your preference and the area you choose. 

However, besides these costs, there are other fees you will have to pay now and then for different purposes. For internet and communication services you may have to pay the monthly cost from $30 to $50. If you plan to dine out in local restaurants, you have to pay from $20 to $40 for a meal for two.

What Are The Visa Requirements And Residency Options?

Once you are sure that the living cost in your selected country is suitable for you, the next part to prioritize is the visa requirements. Ensuring you are eligible to retire in your chosen country is necessary for obvious reasons.

To retire in Mexico, you can have any of two main visa options which are the temporary residence visa and the permanent residence visa. 

For the temporary visa, you need a monthly income of 62,232 Mexican pesos (3,643 USD). If you have already stopped earning, you need to showcase your savings which is more than 1,037,200 Mexican pesos (60,702 USD).

Alternatively, the financial requirements are higher if you are looking for a permanent visa. In this case, you will need to ensure 103,720 Mexican pesos monthly income (6,071 USD) or 4,148,800 Mexican pesos in savings (242,805 USD).

To qualify for a Mexican Permanent Resident Card, you must show sufficient proof of your official retirement in your home country. At the same time, you need to submit proof of enough financial resources to live comfortably in Mexico.

Additionally, you will be required to show proof of pension, investments, or bank accounts with a monthly average balance equivalent to 85,000 USD for 12 months.

Ready for a romantic adventure? Check out our 2024 guide to the coolest and most fun things for couples to do in New Mexico. Dive in and start planning!

Benefits Of Retiring in Mexico

In case you still aren’t sure of why Mexico is the best-suited retirement country for you? That’s why we’ve made a short list of the benefits here:

Affordable Living

Compared with neighboring countries like the USA, the affordability of Mexico is clear. This is ideal for retirees, as they can maintain a comfortable lifestyle with just their savings.

Pleasant Climate & Scenery 

Calm surroundings and soothing atmospheres are important to retirees. Being able to leave the house to enjoy the outdoors and culture is an important feature for people who no longer work. 

Whether you prefer beachside living, the charm of colonial towns, or the mild climate of highland areas, Mexico has something to suit everyone’s taste: another reason for the country’s popularity.

Convenient Healthcare

Mexico provides convenient and affordable healthcare services, especially in popular expat destinations. Many retirees appreciate the quality of medical care available at a fraction of the cost in their home countries.

Simple Visa Requirements 

Mexico also offers retiree-friendly visa options, like temporary and permanent residence visas. These options are very convenient and they simplify the process for foreign retirees.

Additionally, many retirees find a sense of belonging in the welcoming expat communities across Mexico. The real estate options are affordable here as well. If desired, you may buy your home to settle down here.

Popular Retirement Destinations In Mexico

Day by day, Mexico has become a more popular place among retirees. North Americans are especially fond of this country because of its suitable climate and affordable living cost.

However, only some of the places in Mexico are suitable for foreigners to live in. There are some specific areas where the climate is nice, all necessary services are available, and the crime rate is lower. Let’s check out the best places to live in Mexico:

Puerto Vallarta

Situated beside the Pacific Coast, Puerto Vallarta is a charming coastal town with a lively arts scene and beautiful beaches. Retirees can enjoy different cultural activities at the Malecón, a seaside promenade lined with sculptures and galleries. 

The town is indeed full of excellent dining options, where you can savor authentic Mexican cuisine.

San Miguel de Allende

San Miguel de Allende is a UNESCO World Heritage Site. This place is especially recognized for its colonial architecture and artistic ambiance. The area has a large expat community.

Retirees can enjoy art classes, cultural festivals, and the iconic Parroquia de San Miguel Arcángel while living in a peaceful environment in this area. The town’s cobblestone streets and historic charm are utterly lovely.

Cancún

Cancún is specifically famous for its calm and aesthetic beaches with a lively culture. For these reasons, this place has become a popular destination for retirees who love to enjoy their leisure in a calm place. 

Beyond the beaches, retirees can explore ancient Mayan ruins like Chichen Itza or take advantage of the world-class golf courses sprinkled across the region.

Mérida

Situated in the Yucatán Peninsula, Mérida is known for its colonial architecture and rich Mayan heritage. Retirees can spend their free time exploring the city’s historic sites, like the Paseo de Montejo.

You will love the local cuisine, including the renowned Yucatecan dishes, famous to this area. Mérida occasionally hosts cultural events and live music performances that retirees can enjoy.

Tulum

Tulum is situated along the Riviera Maya. This place offers retirees a perfect blend of ancient ruins and soothing beaches. If you choose this place, you will love to visit the Tulum archaeological site perched on a cliff overlooking the Caribbean Sea. 

You will also love to relax on the beautiful white-sand beaches. The town’s bohemian atmosphere and eco-friendly lifestyle ensures a perfect place for relaxation with the necessary services.

Ajijic

Ajijic is located on the shores of Lake Chapala. So, this one is another place for people who love beaches. This place has a number of villages with mild climates that welcome expatriate communities. 

Retirees can enjoy lakeside activities, like boat rides, or strolls along the malecón. They can also enjoy cultural events, art galleries, and a lively social scene, etc. to enjoy relaxation time.

Alongside the following places, you may also enjoy living in places like Mazatlán, Oaxaca, Durango, Morelia, etc. Even for retirees who are not working, all these places offer convenience, nature, and social outlets.

Exploring Healthcare Options In Mexico

Retirees in Mexico usually have an affordable and convenient healthcare system with numerous benefits. You’ll love the affordability of medical services compared to many other countries. The cost of healthcare, including consultations, medications, and procedures, is noticeably lower in this country. 

Additionally, in popular expat destinations, many healthcare professionals are fluent in English.  So you’ll always have effective communication with the healthcare officers. 

Additionally, private health insurance in Mexico usually makes better healthcare services more affordable than in other countries. They also ensure comprehensive coverage and access to modern medical facilities.

Retirees can have the personalized and attentive care they receive in Mexico, even as foreign patients.

Know The Cultural Aspects

Undoubtedly, Mexico is full of rich cultural perspectives that mirror its history and traditions. The warmth and friendliness of the Mexican people cultivate a welcoming environment. They are known for their strong sense of community and hospitality that improves the atmosphere for retirees. 

The Spanish influences on the tradition of this country also add a vibe of Spanish tradition as well. Eventually, you will see the Spanish vibe in the art, music, and architecture.

Traditional celebrations, like Dia de los Muertos and colorful festivals, showcase Mexico’s deep connection to its past. Mexican cuisine is world-famous and you can enjoy it daily if you retire in Mexico.

From mariachi music to folkloric dances, Mexico’s cultural heritage is alive and celebrated in many different ways. All these aspects offer retirees an enriching experience as they become part of a society that cherishes its history while being in the present.

Tips For Successfully Retiring In Mexico

Finally, we can help you with some essential tips for a successful retirement in Mexico. Make sure to check the tips below:

Visit Different Regions in Mexico

Before you decide, you should explore different regions to find the one that suits your preferences. Mexico has places with different climates, landscapes, and lifestyles. So, choose the place after your experience being there in real-time.

Learn Basic Spanish

Even though many Mexicans speak English in tourist areas, you should learn basic Spanish. It will significantly enhance your daily interactions and let you deal with the basic conversion with all Mexicans.

Make Your Healthcare Plan

You should properly investigate healthcare options and consider obtaining international health insurance no matter what country you choose to retire in. So, make sure to familiarize yourself with local clinics and hospitals to ensure access to quality medical care.

Organize Your Financial Plan

You can work with a financial advisor to ensure your retirement savings align with the cost of living in your chosen Mexican destination. Make sure to understand currency exchange rates and banking options in the new place as well.

Additionally, you should get connected with expat communities to build a support system. They can provide necessary insights, advice, and assistance in getting used to the local customs.

Is Retiring In Mexico The Right Choice For You?

So, what do you think about retiring in Mexico? Finding a cheaper destination with a better climate with more hospitable people will be a challenge.

Besides, the language barrier is not a problem in this country even if you don’t know Spanish at all. Most Mexicans know some level of English. Additionally, the medical facilities and banking system are convenient here as well.

Still, if you are determined to retire in Mexico, make sure to visit some places in advance to make sure that all your personal preferences go well with this country. 

Frequently Asked Questions

Where is the cheapest place to retire in Mexico?

Veracruz is the cheapest place to live in Mexico. Even though it’s a cheaper place, retirees will find all the necessary services like advanced and convenient medical services and banking systems.

Where is the safest place to live in Mexico?

Merida, Yucatan is the safest place in Mexico to live in. This is a modern city with a vibe of historical and traditional aspects where retirees can live a peaceful life while getting all necessary services right by their hand.