Nemo2
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Where to ER in the Caribbean?
- Thread starter hopeisnotaplan
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kcowan
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Antigua, Barbados, Jamaica, St Lucia, St Martin, Bahamas, Cancun, Martinique, Key West. Some of them multiple times. Loved them.
Great places to visit but living there is a different question! My personal choice would be St Martin except for the cost of everything. Key West if plane service was more effective. East coast of Mexico for price performance reason just avoid the high tourist areas (Probably includes Belize.).
Ed_The_Gypsy
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Puerto Rico pops up from time to time here. A recent TV show stimulated me to look again and I found this info in Trip Advisor from residents: retirement in Puerto Rico - Puerto Rico Forum - TripAdvisor
I found it interesting that one commenter observed that crime in PR is less than (what I assume to be) the Lake Chapala area of Mexico.
From a separate source I hear that doctors and other health care professionals are leaving PR.
Caveat: I have never been to PR.
I found it interesting that one commenter observed that crime in PR is less than (what I assume to be) the Lake Chapala area of Mexico.
From a separate source I hear that doctors and other health care professionals are leaving PR.
Caveat: I have never been to PR.
Ed_The_Gypsy
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Here is another useful link on PR: Puerto Rico forum, forum expat Puerto Rico
Markola
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I don't know that DW and I could fully ER anywhere offshore but I've read good things about Panama, as others above said. The currency is the US Dollar so there is no exchange rate risk. Johns Hopkins has a hospital there. The government has put in policies to attract retirees, like a discount scheme for them on many goods and services. They are used to having Americans around given the canal days. Panama has some Caribbean islands, too, I understand.
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Travelwanted
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I think there are many great responses here.
Like you, I have entertained the idea and researched the subject a bit.
My advice is visit for more than a week or two, try a month or two first. Vacationing and living are not the same as has been mentioned. Even then, once you decide, rent for at least one year. The majority of the time the move does not "stick" for various reasons.
You don't want this to be a financial mistake.
One negative I have read is that as an expat you are treated differently than locals. Hard to expand upon that but it is worth noting.
Good luck and keep us informed. And FWIW, I would consider the BVIs, Grand Cayman, Aruba and especially Turks and Caicos as well as Costa Rica and Panama. I would personally avoid the Bahamas, St Lucia, Jamaica, the DR.
Like you, I have entertained the idea and researched the subject a bit.
My advice is visit for more than a week or two, try a month or two first. Vacationing and living are not the same as has been mentioned. Even then, once you decide, rent for at least one year. The majority of the time the move does not "stick" for various reasons.
You don't want this to be a financial mistake.
One negative I have read is that as an expat you are treated differently than locals. Hard to expand upon that but it is worth noting.
Good luck and keep us informed. And FWIW, I would consider the BVIs, Grand Cayman, Aruba and especially Turks and Caicos as well as Costa Rica and Panama. I would personally avoid the Bahamas, St Lucia, Jamaica, the DR.
kcowan
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Yes. There are many cases of people buying on the beach to party likes it is vacation. If there is not a viable expat community, it will not be pretty.
(We rented for 3 weeks, 2 months, 3 months before buying. We rented on the beach and off the beach. We chose off the beach and north facing overlooking the bay at 37 meters above sea level. Sun is not your friend in the tropics.)
bmcgonig
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Yes. There are many cases of people buying on the beach to party likes it is vacation. If there is not a viable expat community, it will not be pretty.
(We rented for 3 weeks, 2 months, 3 months before buying. We rented on the beach and off the beach. We chose off the beach and north facing overlooking the bay at 37 meters above sea level. Sun is not your friend in the tropics.)
kc, what are the prices like in PV now. Are they down because of the strong dollar, or are the places priced in dollars?
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kcowan
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They declined steadily after 2008 and yes also in USD. A friend was able to upgrade for $110,000 last year and the same upgrade would have been $175,000 in 2008.
BTravlin
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I'd be cautious about the FL Keys due to flooding becoming a major problem.
As Florida Keys flood, property worries seep in
Real Estate News: Flooding Threatens Florida Keys' Property Value Despite Boom : Home : Realty Today
That being said, I do live on the island of Cozumel but elevations here are higher than the Keys so I should have a few more good years here before I have to worry.
DW and I live in a condo on the water facing the mainland and love it here.
Pros:
- nice size expat community of Americans and Canadians
- many locals speak English
- great selection of restaurants
- low cost of living except for gasoline and electricity
- excellent scuba diving along with most other water sports
- golf course
- international airport
- 40 minute ferry ride or 10 minute commuter flight opens the mainland up to travel opportunities
- locals are extremely friendly and welcoming compared to most Caribbean island I've visited
- plenty of American products in the groceries but you will pay more for them
- lots of free cultural events in the main park
- 20 miles of open public beach on the east side
- crime is low and mostly limited to burglaries and purse snatchings
Cons:
- cruise ship destination with big influx of visitors during the day but they're all gone by 6 pm
- cooling my 1,800 SF condo costs as much as it did to cool my 4,300 SF home in the U.S.
- Dengue a possibility during rainy season (5 yrs with no problem for us)
- finding a certain product for maintenance can result in a city-wide easter egg hunt (example: yesterday I spent 2 hours searching for fittings to connect a new water tank to my reverse osmosis treatment system)
- possible hurricanes but true of all the islands
Live on any island at least six months before making a commitment since it is a different way of life and not for everyone. Also, try both waterfront and inland locations before making a decision as they are two very different lifestyles.
Thoughts on some of the other islands I've visited:
The BVI is stunning and one of my favorites but they are terribly expensive and the locals seem to just want you to spend your money and leave quickly. Product availability seemed much worse than Cozumel.
The Turks and Caicos are also gorgeous but very expensive and there just doesn't seem to be that much to do there other than the beach and water activities.
St. John in the USVI is even prettier but also very expensive with limited activities and services.
Under different circumstances I would have to give Dominica a try. More of an old time Caribbean island with a lot of potential. Probably not for you but if I were a little younger and single that is where I would go.
As Florida Keys flood, property worries seep in
Real Estate News: Flooding Threatens Florida Keys' Property Value Despite Boom : Home : Realty Today
That being said, I do live on the island of Cozumel but elevations here are higher than the Keys so I should have a few more good years here before I have to worry.
DW and I live in a condo on the water facing the mainland and love it here.
Pros:
- nice size expat community of Americans and Canadians
- many locals speak English
- great selection of restaurants
- low cost of living except for gasoline and electricity
- excellent scuba diving along with most other water sports
- golf course
- international airport
- 40 minute ferry ride or 10 minute commuter flight opens the mainland up to travel opportunities
- locals are extremely friendly and welcoming compared to most Caribbean island I've visited
- plenty of American products in the groceries but you will pay more for them
- lots of free cultural events in the main park
- 20 miles of open public beach on the east side
- crime is low and mostly limited to burglaries and purse snatchings
Cons:
- cruise ship destination with big influx of visitors during the day but they're all gone by 6 pm
- cooling my 1,800 SF condo costs as much as it did to cool my 4,300 SF home in the U.S.
- Dengue a possibility during rainy season (5 yrs with no problem for us)
- finding a certain product for maintenance can result in a city-wide easter egg hunt (example: yesterday I spent 2 hours searching for fittings to connect a new water tank to my reverse osmosis treatment system)
- possible hurricanes but true of all the islands
Live on any island at least six months before making a commitment since it is a different way of life and not for everyone. Also, try both waterfront and inland locations before making a decision as they are two very different lifestyles.
Thoughts on some of the other islands I've visited:
The BVI is stunning and one of my favorites but they are terribly expensive and the locals seem to just want you to spend your money and leave quickly. Product availability seemed much worse than Cozumel.
The Turks and Caicos are also gorgeous but very expensive and there just doesn't seem to be that much to do there other than the beach and water activities.
St. John in the USVI is even prettier but also very expensive with limited activities and services.
Under different circumstances I would have to give Dominica a try. More of an old time Caribbean island with a lot of potential. Probably not for you but if I were a little younger and single that is where I would go.
Ed_The_Gypsy
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
BTravlin, thanks!
Vital information from one who has done it.
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Vital information from one who has done it.
Sent from my SM-G900V using Early Retirement Forum mobile app
Huge fan of Grand Cayman, been there 5 times, looked at Condos last time. My wife and I both SCUBA dive. Highest per capita income and lowest crime rate in the Caribbean (at least at one time recently I am told). We are considering buying a condo to escape New England winters Jan-Mar. Love it there, but would be bored there year round. Smaller condos are still pretty affordable, looked at some large 2 bedrooms on the water for around $300k. 7% one time fee to the government, then no taxes of any kind after that.
To avoid double posting no no: http://www.early-retirement.org/forums/f29/where-to-retire-to-80354.html
Milton
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Las Terrenas is indeed a nice place. As noted, most expats in the unspoiled Samana region are European (especially French) and Canadian. Not sure if you would consider the relative absence of fellow Americans to be a pro or a con; but if the latter, you would probably prefer Caberete or Luperon.
Las Terrenas is a smallish town and somewhat geographically isolated. The nearest airport (Presidente Juan Bosch) is a good half-hour drive away; I think Jet Blue operates flights to and from NYC but most international flights are seasonal and to European or Canadian destinations. The airport in Santo Domingo has very frequent flights to Miami but is a significantly farther drive away.
There is currently no golfing in or near Las Terrenas.
Dominicans are lovely, friendly people but relatively few speak fluent English. Life there will be much richer if you speak good Spanish.
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