Belize On A Budget: Monthly Expenses For A Tropical Paradise

Belize is a low-tax jurisdiction with an established offshore financial services sector. The cost of living in Belize varies depending on location and lifestyle choices. For example, a couple could live in Corozal or San Ignacio for less than $2000 a month, whereas in Cayo, Belize, $1000 a month is enough to enjoy a very fulfilling life if you buy locally and use local resources.

The cost of living in Belize is higher compared to other desirable retirement countries in the region. However, it is still far more affordable than Western countries. For example, consumer prices (including rent) in New York City are nearly 200% higher than in Belize City.

The key to maintaining a low cost of living in Belize is getting to know the local vendors, farmers, and suppliers. Eating like a local is also important, as is shopping in local markets for fresh produce.

Housing: $450-$1500/month

Belize offers a wide range of housing options, from basic, traditional wooden homes to modern concrete builds. The cost of renting a home in Belize varies depending on style and location.

A basic, traditional Belizean-style wood home is the most economical option. These houses are typically smaller, with one or two bedrooms, a simple kitchen and seating area, and without air conditioning. They usually have shutters over screened windows, with no glass. These "no-frills" options are the most affordable.

Concrete homes, on the other hand, are a more recent and increasingly popular choice. The cost of building with concrete is now similar to that of wood, and these homes offer more conveniences, such as air conditioning, and are available in a broader range of sizes.

Location also plays a significant role in determining rental prices. Living in popular expat or tourist communities, such as San Pedro, Placencia, or Caye Caulker, will be more expensive. Rental prices in these areas can vary based on proximity to the beach or the town centre. For example, a two-bedroom apartment near the beach in San Pedro or Placencia, with air conditioning, will cost between $1,200 and $1,500 per month.

Outside of these popular tourist areas, it is possible to find more affordable options. In small towns, pleasant houses near the sea can be rented for between $300 and $800 per month.

For those seeking a more luxurious option, it is worth noting that property taxes are low, rarely exceeding $100 to $400 annually, even for a luxury home.

Additionally, it is important to consider the cost of utilities, especially electricity, which is quite expensive in Belize.

Utilities: $25-$100/month

Utilities in Belize are primarily driven by electrical usage. While electricity is expensive, other utilities such as water, cooking gas, phone services, and internet are more reasonably priced.

Phone plans are quite affordable in Belize. Most people rely on their cell phones, and an unlimited talk and text plan with 8 GB of monthly data costs about $28 per month. The largest data plan, with 66 GB, is $78 per month. Internet services are also reasonably priced, with basic 20 Mbps services costing about $25 per month. Higher-speed plans are available, with 40, 80, and 150 Mbps options, the latter of which costs $100 per month. Combo plans from providers like Digi can help you save money. For example, you can get 80 Mbps Internet, 6 GB of data, and 100 minutes and texts for your cell phone for $60 per month.

Water costs vary across Belize, but overall the quality is good. In Placencia, for instance, you can drink straight from the tap, and it will only cost you $0.005 per gallon. City water is inexpensive, and rain catchment is a great alternative. A couple can expect to pay anywhere from $20 to $50 per month for water.

Belize uses butane as its sole cooking gas, and the price is regulated by the government. However, local providers may not always stick to the guideline, so it's a good idea to shop around for the best rates. Expect to pay $3 or more per gallon.

While electricity is quite expensive per KWh, there are ways to keep costs down. A couple living in a 2-bedroom home without an air conditioner and with a large deck might pay around $50 per month. On the other hand, running air conditioners can quickly increase your bill. A couple running AC in both bedrooms at night may see their bill average around $150 per month. To keep costs down, try to conserve electricity by not running your air conditioning constantly.

Food: $6-$200/meal

Belize's food prices vary depending on the type of food and the restaurant's location and level of formality. Here is a detailed breakdown of food costs in Belize:

Street Food or Fast Food:

Street food or fast-food options are plentiful in Belize, offering a quick and budget-friendly bite. The cost of a meal in this category typically ranges from $2 to $5.

Local Restaurants:

For a more casual dining experience, local restaurants serve delicious local cuisine at affordable prices. A meal in this setting usually costs between $5 and $15.

Mid-Range Restaurants:

If you're looking for a mix of local and international dishes, mid-range restaurants in Belize charge between $15 and $30 per meal.

High-End or Luxury Restaurants:

For an ultimate dining experience, high-end or luxury restaurants in Belize offer exquisite menus, top-notch service, and breathtaking views. Expect to pay anywhere from $30 to $100 or more per meal at these establishments.

Budget-Friendly Meals:

Belize's national meal, stewed chicken with rice and beans, is a cheap and filling option, costing around $6 to $8 at roadside stands.

Eating Out Regularly:

If you plan to dine out frequently, consulting locals for recommendations can lead you to more affordable restaurants. Eating out for most meals might even be cheaper than cooking for yourself if you're single.

Snacks and Groceries:

Convenience stores and supermarkets offer snacks, drinks, and groceries at affordable prices. Stocking up on these items can help you save money on meals.

Tipping Culture:

Tipping is customary in Belize, with a standard practice of leaving around 10% to 15% of the total bill as a gratuity. However, some restaurants may include a service charge in the bill, so it's essential to check before tipping.

Alcoholic Beverages:

Alcoholic drinks vary in price depending on the type and location, typically ranging from $2 to $5 per drink.

Daily Food Budget:

When creating a daily food budget, consider your dining preferences and the type of restaurants you plan to frequent. For budget-friendly options, street food, local restaurants, and casual dining can keep costs lower. Mid-range and high-end restaurants will increase your daily food expenses.

Transport: $1-$15/bus ride

Belize has a good public transport system, with buses being the cheapest way to travel long distances. The cost of a bus ride depends on the distance travelled, with prices ranging from $1 to $15. Buses are usually old school buses from America, painted in bright colours, and with music playing. The bus conductor is always on hand to help passengers with shopping or children, and to assist the elderly.

If you're in a rush, taxis are also available, although they can be more expensive. In Belize City, taxi fares typically range from BZ$10 to BZ$15 (approximately $5 to $7.50). However, regular taxis don't have a fixed meter rate or consistent look, so it's important to agree on a price before getting into the taxi.

For those living on the coast or on the Cayes, transportation is a little different. Many people have their own boats, and water taxis are also available. These are a vital means of transportation for residents of the Cayes, with frequent services from Belize City to the Cayes. They cost BZ$10–15 one-way, depending on the destination.

Healthcare: $25-$200/visit

Healthcare in Belize

Belize has both public and private healthcare systems. The public system is funded by the government and offers free or low-cost healthcare services to citizens and residents. However, this often results in long waiting times, and the standard of healthcare across the country is generally low. The private system, on the other hand, provides more comprehensive care but at a higher cost.

Public Healthcare

Public healthcare in Belize is managed by the Ministry of Health (MoH), which offers affordable care with a strong focus on quality. Anyone seeking treatment at a public healthcare facility, including expats, must have a Belize Health Information System (BHIS) card. While treatment at public clinics is often based on donations, treatment at public hospitals incurs a small fee.

Private Healthcare

Private healthcare providers, particularly those in Belize City, cater to expats and global citizens. Private healthcare facilities tend to be more expensive, but they offer shorter wait times and better facilities.

Cost of Healthcare

The cost of healthcare in Belize varies depending on the type of care and the facility. A visit to a local "urgent care" clinic might cost around $25, while more advanced lab work or specialist treatment could range from $200 or more.

Insurance

Many expats in Belize opt for international health insurance that covers overseas medical care and emergency treatment. Some policies also include repatriation costs and air ambulance services. Common insurance providers in Belize include Cigna Global, Bupa/IHI, and International Medical Group.

Medical Evacuation

In the event of a serious medical emergency, evacuation to a neighbouring country with more advanced healthcare facilities may be necessary. This can be costly, with ambulance flights easily exceeding $15,000. Therefore, it is essential to have adequate insurance coverage or financial resources to cover such expenses.

Medication and Pharmacies

Medication costs in Belize are generally low, and pharmacies are well-stocked in urban areas, except for specialised medications. It is recommended to bring prescriptions when travelling to Belize, as some medications may not be available or may require a prescription that would otherwise not be needed.

Dental Care

Dental care in Belize is of excellent quality and reasonably priced. Many foreigners travel to Belize specifically for dental services.

Mental Health Services

Belize has made strides in improving mental health services, integrating them into primary care. Mental health services are available in district hospitals, with most inpatient psychiatric services provided at Rockview Hospital, the national mental hospital.

Overall

While healthcare in Belize has been improving, it still lags behind more developed countries. For more specialised or advanced medical treatment, many expats choose to travel to neighbouring countries or return to their home countries. The cost of common medical procedures and surgeries in Belize is relatively low, with prices ranging from a few hundred to a few thousand dollars.

Frequently asked questions