Will I save money living in Abaco Islands?

"The cost of living in Abaco Islands, can be lower or higher than in the United States, depending on various factors. For instance, housing and utilities can be more expensive in the Bahamas due to the high cost of importing building materials and fuel. However, the Bahamas does not have an income tax, which could potentially save you money depending on your income level. Groceries and other goods can also be more expensive in the Bahamas, as most items are imported. On the other hand, local seafood and produce can be quite affordable. Dining out and entertainment can be comparable to U.S. prices, but again, this can vary widely depending on your lifestyle and preferences. Healthcare in the Bahamas is generally less expensive than in the U.S., but the quality and availability of services may not be as high. If you require specialized medical care, you may need to travel to the U.S. or another country, which could offset any savings. Transportation costs can be lower in the Bahamas, especially if you live on a smaller island where you can get around by walking or biking. However, owning a car can be more expensive due to import duties and high fuel costs. In terms of taxes, the Bahamas has no income tax, capital gains tax, or inheritance tax. However, it does have a value-added tax (VAT) on goods and services, which is currently 12%. This could potentially save you money compared to U.S. income tax rates, but it could also increase your cost of living depending on your spending habits. In conclusion, whether or not you save money living in Abaco Islands, Bahamas compared to the United States depends on your lifestyle, income, and spending habits. It's important to do thorough research and consider all costs before making a decision," commented one expat who made the move to Abaco Islands, Bahamas.

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