By Sheila Madsen, August 2024. Please note all prices are in pesos.
I have been living full-time in Mazatlan, as an expat, since 2009, so I believe I am qualified to provide some thought-starters, prompts, on retirement. I am not a snowbird, I do not return to Canada to take advantage of “free” health care, I am a permanent Mexican resident holding a Canadian passport.
It all boils down to how much money you have and the kind of lifestyle you want. I’m not making any grand statements about living the dream or how inexpensive Mazatlan is – because for some of you, that may or may not be true.
Let’s get started with a few facts. The 180 day Mexican tourist visa requires some documents, but no financial proof. The temporary and permanent resident visas [residente permanente] do require monthly income proof along with bank statements. The amount varies from year to year, be sure to check with the Mexican consulate. If you have the required financial proof for the Mexican authorities, let’s move on.
To rent or to buy? Rent first for at least a year, two years are best – if you can live without “nesting”. There’s a strong urge to make the place your real home, but try to resist that and really explore Mazatlan – from Centro to Cerritos, perhaps even Stone Island. If you fall in love with your rental, be aware that rents increase, landlords often change their mind and nothing is really secure – kind of like back home- even if you have a contract.
If you buy, beside the cost of the house or condo, there are additional fees, as foreigners are not allowed to own property – it’s held in trust by a bank. The exception is a property 100 kilometers from the coast. Expats who buy will need a Fideicomiso – that’s the bank’s trust and there is a one time fee with a notario that produces proof and a complex ownership document. There is an annual fee to renew the trust with the bank. All of this very costly, even the annual fee, so factor that into your budget.
Property taxes are annual, but they are low. If you have bought a condo your HOA fees vary – some condos have terrific amenities, others not so much. Condos have “surprise” assessments too. You need to be ready to pay for it all.
Ownership, regardless if it’s a house or a condo – I refer to this as the “Golden Gate Bridge” syndrome. The maintenance never stops. Perhaps you have a pool – that needs constant attention. You will have air conditioning [mini splits] those need annual maintenance – about $500 per mini split. Then there’s the ocean’s effect on appliances and electronics. Get ready to replace your microwave, toaster and have repair people for your dishwasher, washing machine, refrigerator, and annual water filter changes for your osmosis system. You may opt for large jugs of purified water, but osmosis is the way to go and the purity of the water is guaranteed.
There’s a monthly electric bill, [this could be included in your rental] known as CFE – Commission Federal de Electricidad – I have friends who pay as little as $700 in the summer season, but we live comfortably [ac on most of the day, computers, wine cooler etc] so ours is much higher.
Does your budget allow for all the little things – like mold, leaking roofs, flooding, fumigating and salitre – salty air lifting off your paint and tiles? How about security – cameras, and nasty spikes to keep people from hopping into your courtyard. The big question: where do you feel safe?
Neither my husband or I wanted to own another house. We are lazy and I’m “born to hire”, but the most important thing for me, is to feel safe – that was also true in Toronto where my house/apartment was robbed so many times. Security alarms are not reliable and we were thrilled to leave our house in a great area and move into a high rise in Toronto. We applied the same logic in Mazatlan; we live on the 6th floor, have an ocean view and feel extremely safe.
Some people love to putter around their house and fix things – that’s what I mean about lifestyle, but you need to budget for it. Just because you are in a warmer climate doesn’t mean there aren’t maintenance problems.
Reminder, all prices are in pesos.
Health Care: If you are considering retirement, you are of a certain age and health care is probably at the top of your list. If you have health insurance great, but be absolutely sure of what is covered and what is not. Many plans cover hospital stays, operations like hip and knee replacements, but when you look at the fine print so many other things are not covered. Depending on your age, and stage and how healthy you are, you will need to budget for health care. I can say, over all, health care is less expensive in Mazatlan than “back home”. A trip to your family doctor is between $500 – $800. An emergency house call [yes, doctors do come to your house] is between $1000 – $2000. Your family doctor will recommend one of the many modern hospitals or clinics – in Mazatlan, no travelling required!
Dentist fees vary, but I trust my dentist and she charges $850 for a cleaning and check-up. I just had two root canals for $8000 and two crowns from $5000 – $7000, each, depending on the type of crown you select – porcelain or zirconia. You may prefer a less expensive dentist.
I am a melanoma survivor, I paid $1000 consultation for a dermatologist. I needed a colonoscopy and now apparently I need cataract surgery. A consolation/full exam with an ophthalmologist is $800 – $1000. Two opinions and the costs are almost equal, $30,000 per eye from highly respected surgeons. It could be covered by your insurance, but double check.
Often you can get an appointment with a specialist within two to three days, a week would be a long wait. Your family doctor can get you an MRI, etc. immediately, there’s no waiting. Some people say there’s a future in “Medical Tourism” in Mazatlan. It’s astonishing how caring the doctors are and how quickly problems are resolved here. It could very easily be the reason to visit, but given your lifestyle, perhaps not a reason to retire in Mazatlan.
I was born in 1946, so I too suffer from the Golden Gate Bridge syndrome.
Then there are the very weird health surprises that are never in your budget: Covid, typhoid, Dengue fever, Shingles, falling on our substandard sidewalks, pneumonia and migraines. You may escape all of these, but you need to have the money to pay for treatments and all the prescriptions. Antibiotics and other meds are expensive, it all adds up. If you have a pre-existing condition be sure to check if your medications are available in Mazatlan.
[Being a permanent resident, we tried the public health care system, IMSS -Mexican Institute of Social Security, offered by the government for people who can’t afford private care. Depending on your age, there is an annual fee and certain medications like chemo and insulin can be costly. We gave it a year and discovered we did not enjoy the level of care or the long wait times. All the prices you see above represent private health care. We also don’t “doctor shop” or pop in to doctors with offices at local pharmacies – we know they are cheaper, but we prefer to be part of trusted medical team who has our complete medical history. Again, lifestyle choices.]Let’s discuss the lifestyle you desire in Mazatlan.
Do you want a car? – if so allow for regular maintenance, insurance, fuel, license plate taxes and emissions testing. Be prepared for street parking in Centro Historico as it was built during the horse and buggy era so there are very few houses with garages. “Modern” Mazatlan, to the north, will probably provide proper parking. We don’t have a car, and use Didi, Uber, the bus, pulmonias, or taxis.
Do you want a cleaning lady?
Do you want a gardener?
Do you have pets? You’ll need a vet, perhaps a dog walker, a dog or cat sitter.
If you chose Mazatlan for it’s warm climate, many find the hot humid summers unbearable and opt for a “summer cottage” – somewhere cooler. Have you allowed for that in your budget? Who will look after your house/condo/apartment while you are absent?
Hobbies/sports – tennis, pickleball, yoga, pilates, the gym, a home gym, personal trainer, surfing, golfing, biking, horse back riding, fishing, boating, quilting, book and wine clubs. Is that in your budget?
Making new friends – obviously you have to be prepared to develop a new social circle. There are many expat “hangouts” and depending on your activities you are bound to meet like-minded people. Do you enjoy small talk? Are you confident meeting new people? For many this is a challenge, especially if you are single. Think about if you have the energy to “start again.” Also if you don’t speak any Spanish, you’ll be limited. We all need social connections – try to have a plan or a hobby where you can meet people.
If you don’t speak Spanish and want to learn – many choose to learn online for free, but most people prefer a one-on-one instructor on a weekly basis. That will cost a few pesos too.
Personal care, or if you prefer, wellness: hairdressers, manis/pedis, massage, our new healing energy centre [ “The Way of The Hearts Energy Centre” – only one in Mazatlan], acupuncture, a regular visit to your chiropractor. And let’s slot yoga and pilates in there again.
Telmex – internet and landline phone, that’s a monthly fee, depends on the speed you want. We have super high-speed $600 a month and unlimited long distance calls in North America. There are other providers of internet you may want to investigate and obtain a better rate.
Telcel – mobile phone, we pay $230 a month, the lowest fee plan. You can pay as- you- go at Oxxo. There are also other providers for mobile phones that could be cheaper.
Family and friends “back home”: Mazatlan is difficult to get to via air. If you want to visit elderly parents, children, grandchildren, friends – or have them come to Mazatlan, it’s really not that easy or cheap. Go online now, from wherever you live, and see how complicated it is to fly into Mazatlan and check the cost. That needs to be part of your budget as well.
Enterainment: this is “how long is a piece of string” syndrome. Do you drink alcohol? Do you buy alcohol for your home for entertainment? Do you like to go out for dinner at a nice restaurant, or do you prefer a taco stand? Do you cook at home? Do you shop at the local market – we do at Pino Suarez market, basically farm-to-table. Do you enjoy a concert at The Angela Peralta Theater -tickets are from $200 – $500, some events are even free with general seating. All art openings are free. Do you go the movies, go bowling? Do you enjoy taking tours such as Flavor Teller, dancing at Brenster’s Tuesday Beach Bash or going to the new aquarium, or Observatorio 1873?
So much depends on what you love to do and your dining preferences. Some people prefer going out for a large breakfast and having a light snack at night. Many expats enjoy a cold beer on the beach with a taco from the local vendors, or simply savouring the seasonal fruits. Your budget, your choice.
Since 2009, my husband [he’s the shopper and chef] tells me food prices have gone up 35%. Certainly, restaurant prices reflect this increase as well. A typical dinner for two, at two of our favourite places, Gaia Bistrot and Patio Escobedo, cost just over $1200 – that includes an expensive main, two glasses of wine and a gin and tonic. We never have a starter or a dessert. Lifestyle! You can eat for way less and not have any alcohol. There are hundreds of small taco stands where the food is delicious. Or beach palapas with fresh fish. Or a stuffed baked potato.
Retiring in Mazatlan is probably less expensive than where you currently live [just a guess], but, and this is a BIG BUT, you do need money to pay for all ups and downs. Your dream about swaying palms, morning walks on the beach and stunning sunsets – all of that is true, but it does take sufficient funds to support your lifestyle. Only you know how you want to live and how much money is in your bank account.