Once you’ve retired and are no longer tethered to a particular location for work, it can be tempting to want to move to a place that makes you feel like you’re on vacation all year round. You may think living in a vacation hotspot would be expensive, but that’s not always the case.
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Panama City
The cost of living in Panama City is estimated at $829.30 per month for a single person, excluding rent. A one-bedroom apartment in the city will cost an average of $1,164.71 and drops to $953.85 if you move outside the city. That will leave you a bit to spend on other things, like entertainment. For $50, you can get a three-course meal for two people at a mid-range restaurant. A movie ticket will cost you $7.
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Phuket, Thailand
Phuket, Thailand, is a tropical paradise, known for beautiful sandy beaches, luxurious resorts and fabulous restaurants. Living there, you may feel as though you’re on vacation all year round. The estimated cost of living in Phuket for a single person is $751.10, excluding rent. But a one-bedroom apartment in the city will only set you back about $656 a month, and utilities, including electricity, heating and cooling, and water, will cost you about $124 per month.
Porto, Portugal
Porto is a coastal vacation spot in northwest Portugal, well known for its vineyards, which produce port wine. A single person living in Porto, Portugal, could do so for less than $2,500 per month. Rent will cost about $941 for a one-bedroom apartment outside the city center. Estimated costs on top of that would be about $816.60 per month.
Bali, Indonesia
Bali conjures up images of huts overlooking the Indian Ocean, snorkeling among coral reefs, and indulgent spa experiences. A Bali vacation may seem like a splurge, but living there can be a bargain. You’ll pay about $890 per month to rent a one-bedroom apartment in the center of Bali, and other costs for a single person will cost you about $650 per month. Renting is probably the way to go, unless you can pay cash for a home — the interest rate for a mortgage is about 13%.
Santo Domingo, Dominican Republic
Santo Domingo is the capital of the Dominican Republic, a Caribbean nation on the island of Hispaniola. The beaches and nightlife of this popular vacation destination are part of the appeal, but there is also a rich history and heritage within the city walls.
A one-bedroom apartment in the city center will cost about $625 per month, and other estimated costs per person are about $683. One thing you won’t have to worry about paying for is heavy winter clothes — January is the coldest month in Santo Domingo, and even then, the average temperature is 79 degrees.
Puerto Vallarta, Mexico
Puerto Vallarta has lovely sandy beaches and, as a bustling tourist destination, you’ll also find restaurants and nightlife. You can visit many nearby attractions by boat, or go fishing off the Los Muertos Beach pier.
Rent for a one-bedroom apartment in the center of Puerto Vallarta will cost you about $978 per month. Other costs for one person are about $776 per month.
Belize
Belize has something for everyone — Caribbean Sea beaches, the Belize Barrier Reef, jungles for hiking, caves you can go tubing in, and even ancient ruins. There are multiple islands off the coast, each with its own vibe, from the party atmosphere of Ambergris Caye to the relaxing beaches of Caye Caulker.
To rent a one-bedroom apartment in the city center of Belize will cost you about $471 per month. Additional expenses are estimated at about $818 per month for a single person. Don’t feel like cooking? A three-course meal at a mid-range restaurant will only set you back about $40 in Belize. And you can get your morning cappuccino fix for about $3.80.
These vacation spots may feel luxurious, but it’s nice to know they won’t break the bank if you decide they’re the place to spend your retirement.
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This article originally appeared on GOBankingRates.com: 7 Vacation Destinations You Can Retire in Great Weather for Under $2,500 a Month
