The Cost Of Living In Corozal, Belize: A Tropical Paradise On A Budget

Corozal, Belize is a great choice for anyone seeking a quiet, low-cost, and relaxed lifestyle. It is a popular destination for expats from North America and beyond, despite not having miles of beautiful sandy beaches and a vibrant nightlife. The main draw is its proximity to Mexico, with the Mexican city of Chetumal offering shopping and nightlife just half an hour away.

The cost of living in Corozal is low compared to other places in Belize. Real estate prices are much lower than in other areas of Belize, and entertainment, food, and everyday expenses are affordable. A couple that lives in Corozal Town and owns their own home can live comfortably on $1,500 a month. For a couple that rents, the budget increases to $1,800 a month.

The town has a pretty main square and, thanks to its proximity to Mexico, feels a bit more Latin than other parts of Belize. One big draw is the town's location on the Bay of Chetumal, which locals usually refer to as Corozal Bay. There’s also a green parkland along the bay-front malecón, and plenty of beautiful water views.

Corozal Town was built on the foundations of a Mayan ceremonial centre, and many of the town's old buildings are constructed of stones pillaged from the ruins of Santa Rita, now a popular tourist attraction.

Renting vs owning a home

Renting vs. Owning a Home in Corozal, Belize

There are pros and cons to both renting and owning a home in Corozal, Belize. The decision depends on your financial situation, how long you plan to stay, and your personal preferences.

Renting

Renting a property in Corozal can be a great option if you're new to the area and want to get a feel for the local lifestyle before committing to a purchase. It allows you more expendable money in the short term and gives you the flexibility to try out different neighbourhoods. Vacation rentals can be pricey, but the cost of lodging drops significantly if you commit to a month-to-month rental. The best deals often go to those who commit to a six-month or longer rental.

In Corozal, you can find various rental options, from budget-friendly to upscale. For example, a simple 250-square-foot studio apartment in Corozal Town can be rented for $350 per month, while a larger, modern apartment in Consejo Shores might cost $550 per month. For a more luxurious option, you could rent an executive 1-bedroom pool house on Bayshore Drive for $2,000 USD monthly.

Owning

On the other hand, owning a home provides a sense of security and is considered a long-term investment. If you're thinking of buying, it's recommended to look into buying land and building a house rather than purchasing an already built home.

The cost of buying a home in Corozal varies depending on the location and features. For example, a centrally located three-bedroom, one-bathroom home in Corozal Bay is available for $90,000. A two-bedroom, two-bathroom, 1,700-square-foot waterfront home in Cerros Sands is priced at $199,000. If you're looking for something more luxurious, an attractive four-bedroom, three-bathroom property with an attached garage, pool, dock, and boat launch, located five miles north of Corozal Town, is listed for $299,785.

It's important to consider the ongoing costs of owning a home, such as property taxes, maintenance, and utilities. Additionally, keep in mind that buying a home typically requires a more substantial financial commitment upfront, such as a down payment and closing costs.

Lifestyle and Cost of Living in Corozal

Corozal offers a laid-back Caribbean lifestyle with affordable entertainment, food, and everyday expenses. The town's open-air market is a great place to find local produce and handmade goods at reasonable prices. Nearby Mexico also offers a more Americanized shopping experience.

The cost of living in Corozal is generally cheaper than in other Caribbean expat havens in Belize, as it is not considered a tourist destination. A couple that rents in Corozal Town can expect to budget around $1,800 a month, while a couple that owns their home can live comfortably on $1,500 a month. However, living costs can vary depending on your lifestyle choices and whether you live in the town or farther out in expat communities.

In summary, whether you choose to rent or own a home in Corozal, Belize, will depend on your personal circumstances and preferences. Both options have their advantages and disadvantages, and it's essential to consider your financial situation and long-term goals when making this decision.

Utilities

The cost of utilities in Corozal, Belize, is primarily driven by electrical usage, which is quite expensive per KWh. Water, cooking gas, phone, and internet services are more reasonably priced.

Phone services are widely available, and most people in Belize rely on cell phones rather than landlines. 4G LTE cell coverage is great in populated areas but can be spotty in more remote locations. An unlimited talk and text plan with 8GB of monthly data costs about $28 per month, while the largest data plan with 66GB is $78 per month.

Internet services are also widely available, and fiber-to-the-home connections can be found in many developed areas of the country. Basic 20 Mbps service costs about $25 per month, and higher speeds are available for a higher price. For example, a 150 Mbps plan costs $100 per month.

Cooking gas in Belize is solely provided by butane, and the price is regulated by the Government of Belize. However, local providers may not always adhere to the guideline, so it is recommended to shop around for the best rates. Expect to pay $3 or more per gallon.

Water prices and quality vary across Belize, but overall the quality is good. In Placencia, for example, water can be drunk straight from the tap, and it costs only $0.005 per gallon.

Electricity is the most expensive utility in Belize, with a cost of about $0.22 per KWh. This can significantly impact your budget if you are not mindful of your usage. To conserve electricity and keep costs down, it is advisable to limit the use of air conditioning and other high-energy appliances.

Overall, while the cost of utilities in Corozal, Belize, is generally affordable, it is important to be mindful of electrical usage to avoid high electricity bills.

Food costs

There are also grocery stores in Corozal that stock a lot of US items, including a new store called "the Mall", where you can buy groceries, fruits, vegetables, household items, paint, repair parts, and even gasoline.

Eating out is also affordable. Breakfast and lunch prices typically run under $10, and a dinner out will seldom exceed $20 per person at a Belizean-style restaurant, including a drink. The Jam Rock Restaurant, a popular hangout for locals and expats, serves Belikin beer and cocktails at casual prices.

For a more Americanized shopping experience, the nearby Mexican city of Chetumal offers Walmart, Sam's Club, and shopping malls.

Transportation costs

The cost of transportation in Corozal, Belize, will depend on the mode of transport chosen. Here is an overview of the different options:

Bus

Bus travel is a common mode of transportation in Belize, with frequent services along the main highways. In Corozal, buses operate from the bus terminal in the centre of town. The bus companies authorised to operate in the Northern Zone, which includes Corozal, are Albion's, Belize Bus Owners Cooperative (BBOC), Cabrera's, Chell's, Frazer, Joshua's, Morales, Tillett's, T-Line, and Valencia. Bus fares are cheap, with a regular bus from Belize City to Corozal costing around BZ$9.00. Buses are usually old Bluebird school buses, which can be uncomfortable and are not well-equipped for handling luggage. Air-conditioned buses are sometimes used on express routes.

Taxi

Taxis in Belize typically don't have markings and don't have meters. They can be identified by their green license plates. Fares for short trips in most cities and towns are around BZ$5.00 to BZ$7.00. For longer distances, fares may be negotiable. Shared taxi vans, or "colectivos", are also available and are cheaper than regular taxi fares.

Water Taxi

Water taxis provide transportation for residents of the Cayes and coastal areas. From Corozal, there is a water taxi service to San Pedro and Caye Caulker, with fares ranging from BZ$10 to BZ$15 one-way. The boats are typically large, partially covered, and equipped with outboard engines. The journey from Belize City takes about 30 minutes to Caye Caulker and 75 minutes to San Pedro.

Car Rental

Car rental is available in Belize, but it can be expensive, costing around BZ$70-125 per day. When renting a car, it is important to note that there are no four-lane highways in Belize, and the roads can be unpaved and lack directional signs. It is recommended to carry extra fuel and a spare tire, as gas stations are scarce in rural areas. Driving in Belize can be dangerous due to poor driving standards and drunk driving.

Other Options

For those living in coastal areas or on the Cayes, golf carts, bicycles, and walking are common modes of transportation. Golf carts can be rented or purchased and provide a convenient way to get around.

Entertainment expenses

Golf enthusiasts can choose from three courses: a premier course on an island near San Pedro with green fees of about $200, and two 9-hole courses in Consejo Shores and Belmopan with more affordable fees starting at $17.50. A common local pastime is to relax at a bar, play pool, and enjoy a bottle of the local Belikin beer, which typically costs just a few dollars.

Corozal Town is a convenient base for day trips to Chetumal, Mexico, which is a 30-minute drive away. Chetumal offers malls, entertainment, and a distinct culture. The capital of Mexico's southern state of Quintana Roo, Chetumal is home to Sam's Club and Walmart, where prices are often more affordable than in Belize.

For those seeking a more active lifestyle, Corozal offers plenty of outdoor activities, including sailing, fishing, swimming, and visiting historic Mayan sites. There is also a local museum and many activities in the local park.

Frequently asked questions