If retirement is fast approaching, or even if you have a few years before you reach that point in your life, there are still many things to think about and consider.
Most of the important questions involve your living situation for life after work. Do you want to stay in the same home you’re in now? Should you finally upgrade to that dream home you’ve always thought about? Or is it time to downgrade to a smaller abode now that it is just you and your spouse? And what about retiring outside of the United States?
All of these questions are very important things to consider and one trendy retirement locale becoming more and more popular with modern retirees is Mexico. There are countless reasons why retiring to Mexico is a wonderful idea for many people and one of the most beneficial reasons is the price of property.
If you decide to retire or even just buy a second home in Mexico, you can get a lot more for your money than you would in the U.S.
An article from escapeartist.com by Dru Pearson, “Retire in Mexico: live better for less money,” explains the various perks to living south of the border.
In addition to getting a bigger and more luxurious home for less money than you could even think about getting in the U.S., there are also assisted living facilities that are excellent and inexpensive. These are a great choice for retirees living alone that need a little extra help.
Although anywhere in Mexico is going to be a great spot for a relaxing and stress-free retirement, there are a few cities that seem to be the most popular with newly retired people.
“There are five major areas where American and Canadian retirees tend to congregate. While there may be a few expatriates scattered in a dozen villages throughout Mexico, most Americans and Canadians settle in one of five locations: San Miguel de Allende, Mazatlan, Oaxaca, Guadalajara or Lake Chapala.”
Americans who were once apprehensive about buying property in Mexico because of stories about property being taken away by the Mexican police can now rest assured. U.S. citizens who want to buy property on the Mexico coast have to do so through a bank trust or fideicomiso, where the Mexico government holds the title and you act as the beneficiary, having full rights to the use and development of the land.
One of the most popular reasons people are choosing Mexico for retirement (besides the real estate values) is that you can drive to Mexico in a car, which is extremely convenient for those who want to travel between the two countries frequently.
The author explains that there are countless other benefits to Mexico retirement that span much farther than the property.
“A bigger reason is that Mexico is a bargain compared to the USA and Canada. Mexico is rich with history, steeped in culture, having perhaps a more pronounced culture than any other nation in Latin America with the exception of Brazil and Argentina. Mexico has great food, great architecture and many areas with an excellent climate. Mexico is also modern, with better highways than many parts of Latin America and an infrastructure that allows foreigners to connect via telephone and internet to the rest of the world. This level of infrastructure isn't available in Nicaragua, nor in Guatemala, and this is a very important determining factor for the retiree who doesn't want to be inconvenienced by inconveniences.”
Mexico is a country mixed with modern indulgences and ancient traditions. Combine this with obtaining your dream home for a fraction of the cost; and Mexico is the clear winner for best retirement locales. |
