I have been think of coming to Argentina for birth tourism, so I had my share of doing some research about the cost of living and here what I found out (and please correct me if I were wrong or mistaken, also forgive me for my week English)
- The nice and safe neighborhoods are (Recoleta, Palermo, Villa Crespo, the once close to the Bay)
- The Studio rent is between (750 USD - 1500 USD) per month depends on the Area
- Argentina and BA is pretty safe and there is no need for renting a studio in secured compound (unlike what I have been told by my family and friends because they are always comparing it to Brazil)
- Public Hospitals is free (almost free) and for Insurance or Medical Plans we cannot get because we are a Tourists
- Private hospitals are expensive because I contacted 3 hospitals (Italian, German, and British) and Aleman hospital is the only one responded to my email (Between 130,000 ARS and 180,000 ARS) for baby delivery
- Public Transporation is cheap and good
- Life cost is not that expensive (comparing to Saudi Arabia) such as restaurants and grocery stores like 50% cheaper than here based on
https://www.expatistan.com website and 1000 USD per month (average is 750 USD) is more enough for 2 persons
so average cost of living for 2 persons is like 1750 USD per month
this what I found online, so 1500 USD per month is not impossible or even difficult (I excluded the Pubs, Nightclub because we don't drink)
please remember all my information comes from the Internet, not real life or experience
Yes, the nice neighborhoods that are safe, beautiful and typically have high quality of life are Recoleta, Palermo, Barrio Norte, Belgrano, and the one close to the water that you're referring to is called Puerto Madero but that's an expensive area and not too convenient as it's not central.
Yeah, your budget for rental sounds doable. And you're right, BA is a relatively safe city. Like any big city you have to take precautions but mostly small scams (pick pocketing, stealing cellphones, etc) vs. violet crime here. I also own an apartment in Rio and spend time there and it's much more dangerous as you mentioned. The problem there is there are favelas and really poor right next to nice neigborhoods.
As you mentioned, you don't qualify for free healthcare but even if you did the public hospitals aren't nice, especially in the event of an emergency or serious health issue. Private insurance as you mentioned isn't cheap. Are you saying you'd roll the dice and not have any health insurance??
Do this exercise. Add up all of the things you would spend on a monthly basis. Be realistic with yourself. What do you come up with at the end of the month? Also, are you just not going to save anything for retirement? Many people that say, "oh i can live for $X a month" don't factor in having to save for the future. I've always found it's totally unrealistic to not save anything for the future. Especially if you're going to have a child. Kids simply are not cheap. Groceries in Buenos Aires simply are not cheap.
In my experience, people always underestimate what they will spend vs. overestimate.
-Mortgage or Rent (if you don't own outright)
- Property taxes if you own
-Phone (Land line and Cell phone)
- Utilities (gas, water, electricity, cable, internet, etc)
- HOA fees/expensas each month
- Maintenance and repairs (if you own a property)
- Car payments
- Car insurance
- Auto Fuel each month for each car
- Registration fees for your car each year
- Maintenance on your car to include car washes and oil changes
-Parking (various times when you're out and about plus if you don't have a garage in your apartment and have to rent one)
- Home/rental insurance for your property
- Life insurance
- Health insurance premiums
- Dental insurance premiums
- Medical/Dental expenses (what insurance won't cover)
- Prescription medications
- School expenses for kids (tuition, stuff for school, ballet classes, etc)
- Babysitter expenses
- Annual fee for Credit Cards
- Clothes for kids and yourself
- Toys for kids
- Dry Cleaning
- Health club / gym
- Taxi/Uber fares which are inevitable.
- Beauty (hair salon for hair cuts, color, nails, make up, etc)
- Extracurricular activities dues/fees
- Entertainment (movies, theatre, plays, Zoo, concerts, sporting events, etc --)
- Magazine/newspaper/Ipad subscriptions
- Dining out at restaurants
- Grocery budget
- Retirement savings contributions
- Kids college fund savings contributions
- Charity/donations
- Travel / vacation expenses
- Federal/State/local income taxes
- Any revolving debt payments you might have
- Bad habit type stuff (alcohol, smoking, etc)
- Emergency savings fund for any major health issues
- Non reimbursed office/work expenses and supplies