More Canadians are calling Mexico home now than ever before, with an estimated 14,000 calling the country home this year alone.
Many of them attribute their moves to a better cost of living, but is it really cheaper to pick up your life and move to a new city in Mexico?
We asked two Canadians how their monthly expenses drastically changed once they moved south.
David Nguyen is from Vancouver, has lived in Mexico City for the past seven months, and works a remote sales job. He says although life is not as “cheap” as he anticipated, his expenses living in a major city are significantly more affordable.
“When I went back to Vancouver, a single burger at an Earl’s was like $30, including tip. It’s just absolutely wild,” the 38-year-old said.
“There’s a big range of things you get here at fancier restaurants in nice areas. It’s not as cheap, but there is more value.”
Between rent, transportation, food, and entertainment, Nguyen says he is spending around 30% less than when he was living in Vancouver.
“Considering my place in Vancouver was more expensive, and it was not nice, I just find Mexico has a lot more to offer in terms of the quality of what you get.”
Nguyen says he used to pay $2,200 a month to live in a two-bedroom, two-bath apartment in downtown Vancouver. His two-bedroom, two-bath apartment in the center of Mexico City costs Nguyen C$1,500 a month, adding that the cost of food is way lower as well.
“I buy like three or four roasted chickens every week at Costco, two three bucks for an artisan loaf of sourdough, and I’ve been drinking more green juices, which are 30 pesos (C2.30) each.”
Nguyen says he did not change any lifestyle habits in Mexico; he does not drink and maintains his gym membership, yet his monthly costs overall are lower.
He says for him, he sees a future in Mexico.
“I think Mexico will be a powerhouse in terms of its manufacturing and exports, and I think there’ll be a lot of opportunities. Whereas, if I look at what’s going on with Canada’s housing market, the price-to-income ratio is a massive gap.”
Nguyen isn’t alone.
According to Far Homes, a real estate website that helps people buy homes in Mexico – Canadians have been migrating to Mexico more than ever, at about four times more per year since 2020.
Like Nguyen, many moved after the pandemic, as we saw the number of digital nomads surge. The lifestyle benefits of working remotely while travelling have seen many choose Mexico as the backdrop for their virtual meetings.
Expat Insider has pegged Mexico as the number one destination for expats since 2014, with the lower cost of living being the number one reason Canadians, in particular, are making Mexico home.
But, some discovered the financial perks much earlier than others.
Crystal Westman is originally from London, Ontario, but has called Merida, Yucatan, home for about four years.
The 38-year-old says her monthly costs have drastically changed since making the move.
Westman, a remote English teacher, says her move “was a wise financial decision.”
“If you want or if you don’t, you’re still going to be saving money compared to being in Canada… Your nightlife and overall expenses are generally cheaper. I can go out to a fancy restaurant for under $20.”
“I could actually finally start saving. It changed my life. It made things so much better for me,” Westman said.
While living in London, Westman says she was renting her apartment for $1,500 a month, while in Merida, she rents a house for $700.
“I thought it was the time for me. I thought it was a good financial choice. Seeing how even before the pandemic, I noticed inflation rates go through the roof.
“I miss some aspects of our culture and things about Canada, but I wouldn’t say that I had a better life there.”
Source; Daily Hive
