While there are several mistakes that Canadians and Americans commonly make with regards to purchasing Mexican real estate, one of the main mistakes involves believing that one has to choose between traveling and owning real estate. Many Canadians and Americans, particularly those who are retired or who are approaching retirement, believe that it’s a financially wiser decision to travel rather than to buy real estate, or that purchasing property in Mexico will tie them down. However, the fact is that the decision to buy Mexican real estate really does not need to be an either/or decision. On the contrary, it’s very possible for Canadians and Americans to enjoy the best of both worlds.
To begin with, it’s important to think of purchasing Mexican real estate as an investment rather than simply an expenditure of money. Many regions in Mexico, including beautiful oceanfront communities, currently offer real estate at very affordable prices and for excellent value. Places like Puerto Vallarta, Mazatlan, Lake Chapala, La Paz and Playa del Carmen have seen price reductions due to similar economic challenges that many American real estate markets are experiencing. Particularly in areas where development is ongoing, such properties can present excellent investment opportunities. As Mexico continues to grow in popularity as a vacation and retirement destination, the value of your property will appreciate so that you will actually make money in the long run. Not only that, in the meantime you will be able to enjoy your Mexican property and the enhanced lifestyle that it provides.
With respect to traveling, purchasing Mexican real estate does not need to put an end to those dreams. In fact, owning real estate in one area of Mexico gives you the opportunity to use your home as a base and explore the many different regions, villages and climates of Mexico. By finding a Mexican real estate market that offers great value, you will be able to spend less on property so you will have money left over for traveling. Moreover, by purchasing real estate in a development or at a resort which offers a homeowner exchange program, you will be able to maintain full ownership of your home or condo while also being able to exchange the use of your home for the use of one at another resort. As there are more than 140 resorts around the world that participate in such programs, your travel opportunities will be far from restricted.
In short, purchasing Mexican real estate does not need to limit your ability to travel and can even provide enhanced travel opportunities. You simply need to look at buying Mexican real estate as an investment opportunity and purchase property in a development that will allow you to make the most of your money while also providing you with the lifestyle and flexibility that you want and need. When you go about things the right way, it’s easy to own Mexican real estate as well as travel so you can enjoy the very best of both worlds.
Photo Credit: Fire Horse Leo
