5 Best Places to Retire in the Caribbean

When retirement is looming, the idea of where to retire comes up. It’s possible to just enjoy time at home, but what if you could live somewhere exotic? Though it’s easy to dismiss the Caribbean as a place that’s too expensive, there are plenty of very affordable places to live out your retirement with your toes in the sand and a tropical drink in your hand. If you’re considering moving somewhere warm for your retirement, the following places in the Caribbean are the perfect spot to consider.

Isla Mujeres, Mexico

Isla Mujeres is an island near Cancun in Mexico, but it’s not nearly as developed for tourism, so it’s a lot quieter. It features crystal-clear ocean waters and white-sand beaches, as well as a low cost of living. Condos with a fantastic view will run around $200,000, but if you’d prefer to rent, it’s possible to get a smaller apartment for under $1,000 per month. Total expenses for most couples will be under $3,000 per month, including rent, to live on Isla Mujeres.

The island is known for its nature, so it’s a great place to stay if you love sea life. There are often dolphins offshore as well as sea turtles, and the warm weather makes it the perfect place to just relax and enjoy the views throughout the year. The main mode of transportation on the island is golf carts, not cars, so it’s easy to get from place to place, and you won’t have to worry about getting a car to the island.

Roatan, Honduras

Another gorgeous place to live is Roatan in Honduras. A smaller island, the area doesn’t feature huge resorts or a lot of tourists. There’s a reef nearby that features tons of tropical fish and other animals as well as stunning white-sand beaches. Though it has modern conveniences, it’s not a popular tourist attraction, so it’s possible to live here without spending a ton of money. A two-bedroom home on the beach is less than $175,000, and there’s no need to worry about tourists throughout the year. The cost of living for the area is around $2,500, including rent.

The area is up and coming, so it’s improving consistently and includes a recently opened power plant as well as a hospital with specialist care. It also features a local market, with open-air fruit and vegetable stands, as well as plenty of natural features that have to be seen.

The area is perfect for those who want to just relax in the warm tropical air or take advantage of opportunities to snorkel or dive.

Las Terrenas, Dominican Republic

A gorgeous island, it includes both the Dominican Republic and Haiti. On the east side of the island, in the Dominican Republic, Las Terrenas is a fantastic place to live. It includes a low cost of living as well as a stable government, so it’s a perfect place to live. It’s possible to find all of the conveniences of home, including the newest golf course. And, everything is new, as this area didn’t have electricity or much of anything else as little as 30 years ago.

The area is now known for tourism, but it’s not filled with giant hotels. Instead, it features mainly small family-owned hotel chains, and the number is limited. A smaller apartment can be purchased for under $100,000, and it’s possible to live on the island for close to $2,000 per month. With gorgeous beaches, plenty to do, and beautiful weather throughout the year, this could be a fantastic place to retire without worrying about spending too much money every month.

Ambergris Caye, Belize

Ambergris Caye is known as a great place to dive, as it’s right next to the Belize Barrier Reef that supports tons of amazing marine life. The area has seen a ton of new growth in recent years because of this, so the area now has all of the modern conveniences you might need.

Today, golf carts are a popular mode of transportation, even though more cars are now on the road. Water taxis make it easy to visit Mexico for anything you might need that isn’t on the island, or if you just want to take a trip for fun.

Though the area is becoming far more popular, it’s still possible to afford to live there through your retirement. Most couples find they can live comfortably on less than $3,000 per month. If you purchase a home, expenses drop to less than $2,000 per month. With warm weather throughout the year, it’s possible to enjoy the outdoors every day of the year and get to see amazing sights that can’t be seen elsewhere.

Isla Colon, Panama

The last place on the must-consider list is Isla Colon in Panama. It’s close to Costa Rico and is one of a group of nine main islands in Bocas del Toro. Bocas Town is the main area on Isla Colon, and it’s the home base for most people who pass through the area. Though this area is the busiest of the islands, it is easy to get to other, smaller islands for a peaceful and quiet day whenever you want.

In Isla Colon, it’s possible to live a very inexpensive life. There is a lot of property that’s unclaimed here, and it’s possible to rent a small home and live simply but comfortably for less than $17,000 per year. This makes it the perfect location for those looking for a quiet island, yet somewhere that is full of things to do and sights to see. With the minimal cost of living, it’s possible to thoroughly enjoy your retirement without worrying about how much you’re spending each month to live on the island.

Are you ready to set sail? If you’re considering a home in the Caribbean for your retirement, these areas are the best options for tons of fun and relaxation with a low cost of living. Look into the places more today to find out which one might be the perfect option for you.