Now, more than ever, people are planning their retirement at a younger age. Smart investors buy stocks, IRA’s, invest in 401K’s and buy real estate in hopes of creating passive income and being able to retire early. There is a whole movement based on this idea: Financial Independence / Retire Early aka F.I.R.E.
Paying off debt, saving money and living below their means is enabling many people to retire in their 30’s. I hate to admit I have missed the boat on retiring in my 30’s, however I hope to retire in my 40’s! Not bad, considering past generations worked into their 70’s!
Retiring early takes planning, discipline and hard work. This is a journey my husband and I have been on for over 10 years. One step we have taken is buying a retirement home in Jamaica. There are many reasons why we bought a home in Jamaica, and I would like to share a few with you!
- Warm Weather
- Delicious Food
- Low Cost of Living
- Friendly People
- Natural Beauty
- English is the Official Language
1. Warm Weather
Jamaica’s tropical climate allows residences to enjoy the outdoors year round. June is the warmest month with temperatures up to 88 degrees Fahrenheit, while the coolest month, January, is 84 degrees Fahrenheit. The average number of rainy days is 120, but the rain usually doesn’t last all day. Rainfall also varies greatly between the various regions of Jamaica.
On the warm days, I suggest relaxing by the pool or going for a swim in the ocean. Traditional Jamaican houses have verandas that are perfect for cooling off in the afternoon, which is the warmest part of the day. One of my favorite things to do is relax on the front porch with a cold coconut water!
Coming from New York, I look forward to the day when we retire in Jamaica and I can wear tank tops, shorts and flip flops every day!
2. Delicious Food
Breakfast
The Jamaican National Dish is Ackee and Saltfish. It is often eaten for breakfast along with bammy. One of Ziggy’s (my 3 year old) favorite breakfasts is Plantain Porridge. My husband makes a big pot of porridge every weekend and Ziggy ends up eating half of it! Julian (1 year old) had plantain porridge for the first time last week. I might have to invest in a bigger pot!
Lunch
Another favorite is red pea soup. Traditionally, Jamaicans make a big pot of soup on Saturdays. If you don’t want to make it at home you can always stop by Island Grill, which is a chain restaurant that sells cooked Jamaican food. Is it considered fast food, but it is much healthier than other fast food chains. I always enjoy a bowl of red pea soup and festival for lunch.
Island Grill also serves patties, jerk chicken, fried chicken, fish and more.
Dinner
One of my favorite Jamaican dishes is oxtail with rice and peas. The meat is so tender and it just falls off the bone! It also goes very well with dumplings, bananas and yam.
If you are ever in Kingston on a Friday night, I suggest making the short drive to Port Royal. Gloria’s Restaurant in Port Royal has delicious steamed fish. If it is in season, the breadfruit is also very good.
Tourist Favorites
You can never go wrong with Jerk Chicken with Festival. I remember the first time I was in Jamaica. My husband and I were out with some friends at Margaritaville in Montego Bay. We came out about 2am and there were guys with jerk pans on the side of the road selling chicken. I didn’t want to try it, because you always hear you shouldn’t eat street food in other countries.
My husband got jerk chicken with festival. We were driving home and it smelled soooo good that I had to try a piece. It was the best chicken I had ever tasted! Whenever we visit now, I always buy jerk chicken on the side of the road! There are also numerous “jerk centers” where you can buy delicious jerk chicken.
When in Jamaica, you MUST try KFC. I know it sounds crazy, but the chicken is so good. (They use a different recipe than in the U.S.) Go to KFC on any Friday night and you will wait in the drive thru for 30-60 minutes. I have heard of people waiting for 90 minutes just to get chicken…it’s that good!
We cannot talk about Jamaican food without mentioning Patties. Some of my favorites are beef, beef and cheese, and veggie. There are also chicken and spicy chicken patties. Tasty is a great place to buy patties while in Jamaica!
3. Low Cost of Living
Housing
There are multiple new housing developments being built in Jamaica right now. Housing, even in resort towns like Ocho Rios, are still affordable. Most developments are priced below $200,000 USD making it a great time to buy. The housing market is going up quickly, so I suggest buying a home sooner rather than later if you are considering retiring in Jamaica.
There are also many areas where you can buy affordable land to build your own home. This is good for people who are looking to have some extra land for farming or building additional homes on the property. Land priced below $5,000,000 JMD (approx. $37,000 USD) are smaller plots. If you are able to extend your budget to $10,000,000 JMD (approx. $74,000 USD) you can get a larger piece of land and possibly some sea views!
There are many options for home buyers in Jamaica. If you need direction or advise on a good real estate agent, please send me a message and I will be glad to assist!
Internet and Cable
Monthly Bills in Jamaica are relatively affordable. Flow, an internet and cable provider, charges about $10,000 JMD ($74 USD) per month for cable TV in two rooms and internet/WiFi.
Water
Water for a typical 3 bedroom home is about $3,000 JMD ($22 USD) per month. Bills do not fluctuate much from month to month, which makes it easier to budget.
Electric
JPS, the power provider for the island, is not always affordable and can fluctuate quite a bit, month to month. This is something to be cautious of when you setup and operate a home in Jamaica. Electric bills at our home have ranged from $5,000 to $60,000 JMD ($37 to $444 USD).
I prefer to use some A/C when in Jamaica, but it is helpful to limit use of A/C units to help control your electric usage. When in Jamaica, we try to use fans and open the windows and doors so the breeze will keep the home cool.
Solar Power is available in Jamaica but can be pricey; between $2,700,000 to $4,725,000 JMD ($20,000 to $35,000 USD) for panels and installation on a 1,500 sq. ft. home. This is a good option if you are planning on keeping the home long term. It would definitely save you money over time!
4. Friendly People
Jamaicans are typically friendly and very helpful! If you are in a resort town the locals are very willing to help you with directions and recommend their favorite places to eat or go hang out. The atmosphere is relaxed and conducive to having conversations with people on the street, at restaurants and excursions. Most people are not in a rush and are willing to take the time to make a connection with new people. This makes spending time in Jamaica very enjoyable and you feel like you blend into the local culture very seamlessly!
5. Natural Beauty
There are many beautiful spots in Jamaica where you can enjoy the natural beauty. Some of my favorites are Dunn’s River Falls, Blue Mountain and Fern Gully. Obviously there are beautiful beaches all over the island. In my opinion, the most beautiful beaches in Jamaica are in Negril (7 mile beach). A great way to explore Jamaica is by booking an Airbnb Experience. This is a fun way to explore and meet new people. If interested, you can search for Airbnb Experiences below!
6. English is the Official Language
This makes for a very easy transition for people moving from the United States, UK and Canada. All Jamaicans speak English, as it is the official language. Jamaicans also speak Patois, an English-based Jamaican Creole language with West African influences. If you are in a group of Jamaicans they will be speaking Patois but are usually very polite and will switch to English if they are speaking to or assisting a tourist. I found that listening to Jamaican music was a great way to learn Patois.
I hope the above was useful, or at least sparked your interest in moving to Jamaica. If you enjoyed the information or have any questions please leave a comment!
Stay Blessed,
Jess
0 Comments