Mexico Real Estate: Who Is Buying Now And Why?

The answer to the question can be summed up in several different categories of buyers;

• Smart Money Buyers seeking bargain investments while the market has dipped
• Families who love Mexico and whole family can use the property and help purchase it
• Buyers who know living in Mexico is less expensive and want to retire in Mexico

BUY MEXICO REAL ESTATE NOW

Now this is the obvious short list and it covers some of the reasons there have still been buyers in the Mexico Real Estate market in spite of the negative press being reported about South of the border. Rest assured there have been buyers and the pace is picking up. The first properties that are being bought are of course the best deals as it always has been and it always will be, particularly when some of the prime properties are selling at 25% to 50% of the selling price that they were as of 4 years ago.

Many developers, who were planning on reaping the fruits of the highly anticipated mass exodus of Baby Boomers that were, suppose to be heading South to Mexico to retire, have put a halt on building their projects due to the lack of sales. The biggest reason may be because the Americans can not get an easy home equity loan any more to finance their retirement homes in Mexico as many had planned to do 4 years ago and that coupled with the devaluation of their USA homes killed their plans.

Some of these bargains are driven by people who have so much cash invested in these properties they will take the loss on their Mexico Real Estate just to get their hands on hard to find fast cash. This is not a case of them loosing their home it’s a matter of not tying up that much cash because they need to shore up their other financial issues in the USA due to the bad economy there. The remaining inventory that has been left in the wake of the crash is now selling off with some regularity as the security issues of Mexico are better understood by the well seasoned travelers to Mexico who feel it is safe if you follow the simple rules of a smart person traveling anywhere else in this world like Detroit, Kansas City, New Orleans and Atlanta.

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The good news is the Mexico Real Estate market will recover much faster than the USA housing market. Canadians who have a strong dollar and booming oil market are taking advantage of the real estate situation in Mexico and also in several USA markets as well. Due to these facts and the political uncertainty in the USA, soaring health care costs, many buyers are looking to get into the Mexico Real Estate now as part of their retirement plan. Addressing both major issues of concern for those over 50, which is affordable housing and health care are at the top of their list. The profile of the buyers is very different with one exception; they are all seeking the best value for their dollars whether they are US or Canadian dollars.

How And What You Buy Does Matter

AFFORDABLE MEXICO BEACHFRONT CONDO

The motivation and the opportunities are now lining up and the Mexican Government is taking extraordinary steps to improve the immigration laws and therefore the real estate laws for foreigners to have direct ownership of property in Mexico.

This means that in the restricted zones where the most desirable retirement communities are located now and where new retirement communities are being planned over the next 20 years, those who become a legal resident of Mexico will be able to own their property with out a bank trust after several years of residency.

A legal foreign resident can pay a very low amount of money for the Mexican National Health Care program as well.

If you desire to spend time in Mexico but you can not afford more than 4 weeks per year for the next 5 to 8 years then Fractional Ownership could be the best real estate buy in Mexico for you.

Why, because you really own your property, you can sell it at any time you want and you only pay for the expenses based on the percentage of ownership that you bought whether it is 1/8 or 1/12 you just pay your percentage of the taxes, insurance and maintenance. If you need to have more time than your share allows the other Fractional Owners in your unit can trade or sell you some of their weeks at a discount. Fractional Ownership is NOT TIME SHARES or RIGHTS OF USE it is REAL OWNERSHIP with a deed and many people are gravitating to this Smart Money real estate buying method if they can only use and enjoy the property part time.

It seems ironic to me that Mexico is vying for the retiring Gringo’s but why not, I mean look at the real facts because after all, if they have a better deal next door for the same thing or even better yet at half price so we would be foolish not to take advantage of it. For many people in the fall of their lives when their survival is dependent on how much they can afford to pay for housing, food and medical care the choice becomes very clear to me that good food, good weather and good housing out weighs by far bad politics every day of the week especially when there are fewer days and weeks that are left on the calendar of your life.

If you are an American who lives overseas remember you can still vote and have a say in your country’s government but you are not compelled to live in the USA if it is not desirable to your health and financial welfare. Moving to Mexico is not treasonous, it is the smartest thing some people can do to have the same quality of life that they have grown accustomed to and worked so hard to enjoy.

All of that security that we were supposed to have the rest of our lives is now in serious jeopardy and many will out live their savings if they do not move or greatly sacrifice their living conditions as they live out the rest of their lives. Mexico offers the socioeconomic life style many can embrace and domestic help and assisted living are affordable if one partner has to give care to the other and that fact alone is compelling enough for many active seniors to buy their retirement home in Mexico now when the prices are the best in a generation.

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About the Author: Henry Altman is the CEO of Escapeartist Mexico, a real estate developer & property owner in Mexico and he is the former President of Coldwell Banker Affiliates of Central America. For more information on this article or Escapeartist Mexico please opt-in with your name e-mail and phone number and Henry will contact you. You will receive “Escape To Mexico Magazine” it’s all about, “The Real Mexico”