Top 5 Cheapest Countries to Live In

Moving to another country is a huge endeavor. One of the major reasons for making such a move is to find a place where the cost of living is significantly lower. This can mean that a modest savings account lasts a considerable length of time, perhaps even a lifetime. Anyone looking for a way to retire early and enjoy more free time would do well to consider a move to one of the following five countries.

Mexico

In cities like Merida, beautifully furnished apartments can be found for as little as $500 per month and a variety of civic events, such as dances, concerts and plays means that entertainment is often entirely free. Generous government funding means that healthcare is widely available and surprisingly cheap, particularly for those used to United States prices.

Mexico is also a place where foreigners often get more than they expect for their money. Because wage levels are very low it is common for even middle-class families to employ a maid or two. In many cities, instead of a coin-operated Laundromat, the custom is to visit a laundry shop where staff will do all the work, including folding, for about the same price.

Italy

No one looking for bargain living would settle in Rome, but smaller, unspoiled towns such as Calitri can be incredibly cheap. According to International Living , a small fixer-upper apartment in Calitri can cost as little as $15,000, while classic homes go for less than $45,000. Benefits of living in rural Italy include easy access to untouched scenic surroundings in the form of forests, hills and verdant fields. Healthcare can be had for free, but only for those who find a way to become a European citizen.

Costa Rica

The Central American country of Costa Rica is particularly welcoming to older immigrants; here, retirement income is not subject to taxation. Something else that makes Costa Rica a cheap place to move to is its status as an emerging real estate market. Currently, property is available at an incredible discount and the government offers all new homeowners tax breaks that make housing even cheaper. Activities here often center around nature; about a quarter of the land in Costa Rica has been organized into ecological preserves.

India

India is a place where prepared food is incredibly cheap. Combined with inexpensive rent, this makes it quite feasible to live off $30 or even $25 per day. In India, Mexico and Costa Rica, it is important to remember that open-air market vendors expect customers to haggle; the initial prices quoted are designed to have plenty of wiggle room. India, in particular, is a country where virtually anything can be purchased at a discount from open-air markets.

The United States

Surprisingly enough, some parts of the United States also enjoy a relatively low cost of living. The recent housing crash means that Americans and foreigners can buy land at steep discounts from the market highs of 2005. In addition, the proliferation of big-box discount stores has made food and manufactured goods more affordable than ever before. Cheap housing markets in America are centered on Las Vegas, Detroit and parts of Florida.