Retire To Nicaragua?
Retire To Nicaragua
Nicaragua tends not to be on everyone’s short list as a retirement destination. It certainly gets less attention than Costa Rica, it’s flashier neighbor to the south. Part of this is due to its complex past, most notably the Sandinista Vs. Contra struggles in the 1980s. But the country has now put all of that behind it, the economy is bouncing back strongly from the worldwide downturn and Nicaragua is slowly starting to capture the attention of retirees, tourists and investors alike.
In fact in 2010 the country received over 1 million tourism visitors for the very first time. While that’s still far less than the number of visitors traveling to Belize, Panama or Costa Rica, the rate of increase that Nicaragua is experiencing is greater. And where tourists go, real estate dollars tend to follow. It’s no surprise therefore, that the two most important tourism destinations in Nicaragua – San Juan del Sur and Granada – also have the most vibrant property markets.
Retirees are particularly attracted by the low cost of living that’s possible in Nicaragua. As labor costs are relatively low, it’s possible to hire a full-time maid or gardener for around US$150 a month. With a beach-side dinner costing under five dollars, a beer around one dollar and cinema tickets around three dollars, it’s possible to live well on a small budget.
While there are some areas that are not well served by infrastructure and do not have well-developed amenities, if you stick to the key hotspot areas you should find all the basics. But remember if you are after specialty cheeses, art galleries, theater or vintage wines, you may have to travel to the capital city, Managua.
But before you make the move make sure you’re willing to adapt to a slower more laid-back lifestyle. To some this can be frustrating but for others it offers not opportunity to discover a different way of life. And if you’re able to speak Spanish, or willing to put in the time to learn the language, you’ll find your experience of Nicaragua even richer.
Retire? After 8 years of being in San Juan del Sur, Nicaragua the days just roll on we enjoy it so with friends and the slower pace of everything. Being a Hotel owner (NOT in our plans) has given us a lot to do but we have found the biggest reward is working with the local people in “give backs” as I call them. We are involved with so many areas it not only keeps us young but gives a lot or good feelings for others. We have found those who are giving of themselves and are involved the most are the happy ones that enjoy their life here the most. Fun and friends are built as the culture is not ours to change but to blend and enjoy. We seen a lot of folks come and go as they want everything like “back home” we let me tell you it is NOT… just learn to go with the flow and life is good. Come take a look and stay awhile.
Ralph