carbonv
8/15/2014 12:52 EST
My family of five relocated from the US to Dominica in 2012. It is much cheaper to live in Dominica if your monthly income is in US dollars because of the currency exchange. We live off rental property income in the US until we can establish ourselves here. We are working on starting our own business here soon. We rent a three bedroom, two bathroom house with spectacular views for $700 EC per month which is equivalent to $262 USD per month. For every $1 US dollar, the exchange is $2.67 EC dollars. We are getting ready to buy land and build a house which is not cheap, but again, if you have a different currency that is more than the EC currency, then the exchange makes it cheaper. If you plan to buy a house, for example 3 bedrooms, two baths, be prepared to pay at least $150K USD for it. The total cost of our monthly expenses, including utilities, spending money, internet, phone, and gas for the car is $3,000 EC per month, which is $1124 USD per month. We grow some of our foods, cook daily, and we eat out only once per month. We also have a solar generator and plan to set up our new home so that we're 100% self-sufficient with food, water, and electricity.
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