The cheapest places to live are hard to locate but are sometimes preferred since they are away from the busy cities and crowded streets. Most affordable places are beautiful and exotic. They can be located just within your neighbourhood, country but others are in more exotic regions of the world.
Rules to finding a cheaper place:
Some of the rules for finding a cheap and affordable place to live include:The desired place should be cheap enough to travel to so as not to incur extra costs upon moving to a new area.The new place should be away from the big cities, large agglomerations and industrial areas. This will ensure that the value of the housing and land in the area is considerably low.Majorly target regions of high population because this in most cases means that more money is pumped into the system to sustain the population.Inquire from friends or family that might be living near the desired place to get an overall idea of the region.
Some exotic areas that would interest people which are quite affordable include:
i. Thailand: it is an exotic destination that is for the sandy beaches, sunshine. Housing in the area can be as low as 500$ per month. Food is also affordable.
ii. Cambodia: in this region one can pay as little as 500$ per month
iv. Costa rica
Advantages for living in cheaper places include:
i.Once one acquires a cheaper place to live it is possible to save on the money allowing some to work abroad if desirable. This allows people to be able to work where desired and save on rent payment.
ii. Affordable housing is more useful to those looking for retirement homes since less of the retirement funds could be exhausted.
Cheaper places will generally be small towns where the council taxes are relatively low. Petrol prices are also considerably low, more parking space for individuals. Moving to an area with a bigger population of people is advisable since that will translate to more money being pumped into the region to cater for the population.
Some disadvantages to living in cheaper places may include the following:
i. Sanitation: in cheaper regions the sanitation may not be as desired hence this factor may deter one from moving to such a region.
ii. Insecurity: level of insecurity may be higher than in more pricey regions. This is because of limited funds being siphoned to the region which can be used for other matters.
iii. Living space: the living space might be fewer square inches than desired. This might force one to reduce the amount of furniture or house embellishments in the house.
iv. Accessibility: accessing the big cities or markets might prove harder due to where the new cheaper place is situated.
Selection of a cheap place to live can be challenging hence a lot of research must be employed to get more information of the region. If one decides to move to the more exotic regions such as Thailand a lot of planning is employed.
The question of the cheapest places to live in the world is a bit tricky. This is because it depends on how much money or investments you have when you relocate to these places. Generally, many individuals who live in countries where life is very cheap are incidentally the poorest individuals on earth. This is because in most instances, for life to be very cheap the country must also be poor.
Currency exchange rates matter:
However, we can use various perimeters to measure the cheapest places to live in the world. Assuming you come from a country where your currency is the dollar, you do not have to be particularly wealthy to live like a king in a country where a million bucks is exchanging for a dollar.
You can easily be a multimillionaire:
In this case, if you have a thousand dollars when you go to this country you will have to multiply your thousand dollars to a million bucks. This means the moment you land in the airport of that country you will be a multimillionaire. You will have a billion bucks to spend in whatever way you chose. Probably the thousand dollars could not have achieved much for you if you have remained in your home country. However, in an impoverished country where the economy is in tatters you will be able to live in the best hotels and eat food fit for a king.
Your home country’s economy matters:
All this boils down to one thing. If your country’s economy is strong, you are very likely to live comfortably in a poor nation even if you were just an ordinary person in your own home country. On the other hand, if you are an ordinary person from a poor nation you will not be able to survive in a rich economy unless you work very hard. This explains why even a wealthy person from a poor economy easily becomes a beggar in a rich country, unless he catches up fast with the life there.
Poor economy verses wealthy economy:
For instance, when you have a million bucks in a country where the dollar exchange rate is going for a hundred bucks you are a relatively wealthy person. However, when you migrate to a country like Britain you will have to divide your million bucks by about a hundred. That means you will have ten thousand dollars. This does not make you a wealthy person in that country. Yet in your own country, you were highly esteemed. Since life is rather expensive in many developed countries, you will most likely use your ten thousand dollars fast. This will compel you to look for work or else you will be a bankrupt person.
Therefore, if you would like to know which are the cheapest places to live in the world it is advisable you consider several factors. If you come from a rich nation, settle in a country that has an economy, which is wobbling. This way, you will be able to live comfortable for a while before your money runs out.