Housing is likely to be one of your biggest retirement expenses. One way to approach your search for the ideal overseas retirement haven is to focus on retire-overseas choices where housing is cheap.
It's important to note that, for these bargain rents, you won't be getting a palatial or luxurious abode. I'm limiting my picks to places where you could rent something modest and cozy but reasonably outfitted from a North American's perspective. Here are five places where you could rent for as little as $500 per month.
Leon, Nicaragua. Nicaragua has suffered serious bad press as a result of its troubled past and current president. Those unfortunate realities aside, this beautiful land of lakes and volcanoes has a great deal to offer the would-be retiree, including a new program of special benefits for resident retirees. There is also a growing and welcoming community of expats from around the world, top-notch health care in Managua thanks to the international-standard Vivan Pellas Hospital Metropolitano, and bargain-priced rentals.
Leon is the second of this country's two colonial cities, and generally less developed and recognized than its sister city, Granada. In many ways, Leon is preferable. It's a university town with museums and theater that sits less than a half-hour from the coast. Because it's been largely ignored until recently, it's also a more affordable place to rent than higher-profile Granada. You could rent a two- or three-bedroom colonial house here for as little as $500 or $600 per month.