BlueDevil wrote:
[quote="Zunbake3"]Blue Devil, how much USD to live like a king in Columbia? There should be a section on places to retire and monthly USD costs.
It all depends where you live, how and where you shop, how much travel, and what your "social budget" is. You can live very well in a nice Estrato 4 apartment for $3000 - $3500 per month. Estrato 5 & 6 places may put you over $4000 per month. Rent is still relatively cheap here in spite of the rising cost of property. When I first arrived here, I was paying $650 per month rent for a spacious 1360 sq ft 3 BR - 3 BA Estrato 4 apartment. My utilities run about $225 per month for gas, electric, water, cable TV, internet & sewer. I live in a municipality just south of Medellin. Once you get out of the greater Medellin area living costs drop significantly (with the exception of Rionegro & Llanogrande).
I bought a smaller (1200 square feet) apartment last year in the same building for $119,000 US. My admin fee is $110 US per month, and my utilities are about the same as before. Property taxes run me $400 per year. La senora and I cook most of our meals at home with grocery bills running about $60 - $80 per week for two people. There are some allowances for eating out & domicilio, so we budget about $500 per month for food and household goods. We do not skimp on meals, and eat well. I use public transportation, and don't have a car. Transportation costs about $125 per month (Metro, bus & taxis). SURA EPS health insurance costs about $75 per month for two people, and another $30 per month for domicilio medical service. The rest is pretty much "discretionary" income for savings, travel, entertainment and home improvements.
This budget works for me, but it may not work for others. At the very least, it is some sort of baseline.
I have been calculating how much it would take to retire in Medellin as well. So you are budgeting 50% for entertainment? Rent/utilities in stratus 4 should be under $1000 and $1000-2000 stratus 5.