Aging US workers are caught in a bind. Retirement accounts are taking a big hit from stock market and other investment losses. Additionally, they may have used retirement savings to finance their children’s college educations. Combine those with weak performance in the US real estate market, rising fuel and food costs, and the skyrocketing cost of health care, and you’ll find many people who are undercapitalized for retirement. With the cost of living in Mexico, can it really be true that the answer to your shrinking retirement account values could be found in Mexico real estate investments?
It sounds too simple to be true, but many people have indeed invested in Mexico real estate. Currently, about 1.5 million Americans - about 50,000 of which are found in Puerto Vallarta - own residential real estate in Mexico. Ocean-view properties in Mexico sell for anywhere between 50% and 75% less than comparable US real estate. Mexico real estate is definitely a bargain.
Food is plentiful here. Heavily agricultural Nayarit and Michoacan border Puerto Vallarta to the north and south. Jalisco itself is also an agricultural producer. Fresh produce is of excellent quality, highly available, and similar to what you find in the US. As is true anywhere else, your food costs will depend upon what you eat. Traditional Mexican food is much more economical than those dishes served in the US. By incorporating more local dishes, you can save significantly on food.
Energy costs are substantially higher in Mexico, but a well designed home will not require significant added air conditioning or electrical services. On-site solar energy can be used to complement metered electrical service. On a brighter note, a Mexico real estate purchase means that you’ll never have to heat your home again!
Medical and dental care in Mexico costs significantly less. In Puerto Vallarta, the medical care is top-rate. The modern hospitals here are virtually indistinguishable from those you find in the US. Emergency, elective, and routine procedures are all done here, as well as a full range of medical specialties, which cost substantially less than in the US. Most hospitals also accept private insurance payments.
As a retiree, you can find affordable help with maintenance, landscaping, housekeeping, laundry and meals. Generally, personal services will cost between 50% and 75% less than what you’ll pay in the US. The cost of services here also points to the soundness of an investment in Mexico real estate.
If you’re ready to consider Mexico real estate as a way to preserve your retirement capital, please contact a Select Mexico Properties sales representative today. We can show you how to live like a movie star on a retiree’s income.
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