Budgeting for Life in Buenos Aires
If you’re considering settling down in Buenos Aires, you’ll find that you can live in one of the best neighborhoods for as little $1290 per month. But depending on whether you are renting or buying, you can also go as high as $3885 per month without being overly extravagant.
To maintain consistency among the sample budgets below, I’ve used 100 square meter (1076 square foot) properties located in Recoleta and Palermo, two of Buenos Aires’s top neighborhoods. I’ve also used a somewhat-arbitrary figure of $500 per month for entertainment; you could easily spend less than that, and could certainly spend more.
Let’s take a look at the first budget, for apartment living
Apartment Rental
| Rent |
$1,700 |
Top neighborhoods of Rocoleta or Palermo |
| HOA Fees |
$175 |
Depending on amenities and security |
| Property Taxes |
$0 |
|
| Transportation |
$70 |
Occasional bus and taxi fares |
| Gas |
$30 |
Used for heating and cooking |
| Electricity |
$40 |
Average value, assuming seasonal variations |
| Telephone |
$25 |
Control line |
| Internet |
$40 |
|
| Cable TV |
$30 |
|
| Household Help, fulltime |
$0 |
Allow $350 per month, Monday-Friday, 8-hour days |
| Food |
$300 |
|
| Entertainment |
$500 |
|
| Homeowner's Insurance |
$0 |
|
|
|
Exchange Rate: $1=3.05 pesos Argentinos (Aug 08) |
| TOTAL |
$2,910 |
|
Apartment Ownership
| Rent |
$0 |
|
| HOA Fees |
$175 |
|
| Property Taxes |
$80 |
|
| Transportation |
$70 |
Occasional bus and taxi fares |
| Gas |
$30 |
Used for heating and cooking |
| Electricity |
$40 |
Average value, assuming seasonal variations |
| Telephone |
$25 |
Control line |
| Internet |
$40 |
|
| Cable TV |
$30 |
|
| Household Help, fulltime |
$0 |
Allow $350 per month, Monday-Friday, 8-hour days |
| Food |
$300 |
|
| Entertainment |
$500 |
|
| Homeowner's Insurance |
$0 |
|
|
|
Exchange Rate: $1=3.05 pesos Argentinos (Aug 08) |
| TOTAL |
$1,290 |
|
The figure of $1290 per month is amazingly low, considering the quality of life in Buenos Aires…and also considering that properties are not that expensive.
The cost of renting an apartment came in at $2910 per month. The increase is entirely due to the average monthly rent in this area, which is about $1700. You’d save on property taxes, but only $80 per month.
Now let’s look at living in a house:
House Rental
| Rent |
$2,500 |
3or 4 bedroom house in top neighborhood |
| HOA Fees |
$0 |
|
| Property Taxes |
$0 |
|
| Transportation |
$70 |
Occasional bus and taxi fares |
| Gas |
$150 |
Used for heating and cooking, monthly |
| Water |
$20 |
|
| Electricity |
$200 |
Assumes A/C and heating monthly |
| Telephone |
$25 |
Control line, monthly |
| Internet |
$40 |
|
| Cable TV |
$30 |
|
| Household Help, fulltime |
$0 |
Allow $350 per month, Monday-Friday, 8-hour days |
| Food |
$300 |
|
| Entertainment |
$500 |
|
| Homeowner's Insurance |
$50 |
|
|
|
Exchange Rate: $1=3.05 pesos Argentinos |
| TOTAL |
$3,885 |
|
House Ownership
| Rent |
$0 |
|
| HOA Fees |
$0 |
|
| Property Taxes |
$100 |
|
| Transportation |
$70 |
Occasional bus and taxi fares |
| Gas |
$150 |
Used for heating and cooking, monthly |
| Water |
$20 |
|
| Electricity |
$200 |
Assumes A/C and heating monthly |
| Telephone |
$25 |
Control line, monthly |
| Internet |
$40 |
|
| Cable TV |
$30 |
|
| Household Help, fulltime |
$0 |
Allow $350 per month, Monday-Friday, 8-hour days |
| Food |
$300 |
|
| Entertainment |
$500 |
|
| Homeowner's Insurance |
$50 |
|
|
|
Exchange Rate: $1=3.05 pesos Argentinos |
| TOTAL |
$1,485 |
|
As you can see, the budget is still reasonable at $1485 per month. Property taxes are a bit higher than an apartment, as are the utilities.
If you’re planning to rent a three or four bedroom house, plan on paying an average of $2500 per month. Overall, your budget would rise to about $3885 per month
Car ownership will add to the monthly budget significantly
As you may have noticed, neither of the budgets above included costs for owning a car. Here’s what you can expect to pay:
| Car Registration |
$67 |
Based on 4% annually for a $20,000 vehicle |
| Insurance |
$200 |
|
| Maintenance |
$50 |
|
| Fuel |
$200 |
|
| Car Total |
$517 |
Exchange Rate: $1=3.05 pesos Argentinos (Aug 08) |
As you can see, this adds significantly to the bottom line. Personally I find it a burden to own a car when living in the city. To me, it makes more sense to rent a car for those occasions when I want to travel in the countryside. It’s easy to justify that occasional expense in order to save $500 per month on the monthly budget.
Christian MacDonald
For Live and Invest Overseas
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