Mexico has always enthralled and enticed people form all over the world. Every year thousands and thousands of tourists from all over the globe travel to Mexico to get a taste of its vibrant culture, beautiful beaches, sunny climate and warm people. Its white sand beaches run of miles and miles in places such as Playa del Carmen, Puerto Vallarta and Cancun. Its crystal clear waters can make any beach lover fall in love with it. Not just that, its rich marine wildlife adds another dimension to its charm.
It comes as no surprise to find that Mexico is one of the most favored retirement destinations for U.S. citizens. It’s just not its beauty but also its inexpensive standard of living which attracts millions of people. It has economical homes, affordable health care system, fast developing infrastructure and first world facilities. All these factors make it an ideal destination for luxury living.
If you are also one of those who share a price of this heaven by buying Mexico Real Estate then these are the ways that make Mexico even more lucrative for you.
1) Low Real Estate Prices: Right now, the prices are low. But the scene will not remain constant for ever. For those who plan for future, investing in real estate at reduced prices means a windfall later in future. Mexico will always be popular with tourists and it is developing rapidly. This means that Mexicans will move to cities for work and will get more money in their pockets which translates in to more demand for real estate and hence, appreciation in prices. For the wise among you, Mexico is the “El Dorado”
2) Income from Rentals: Tourism is the lifeline of Mexico. Tourists come here all the time and in droves. If you just use your Real Estate in Mexico as a vacation home then you can rent it out for the rest of the year and earn a passive income. You must ensure that the property you buy is in city/town where tourists throng and has a good potential for rentals. Vacation rentals are very popular in Mexico. Rental from your property can even pay back your loans or supplement your income. Any person who understands investing will figure out this benefit instantly.
3) Mortgage for Foreigners: Now, even non-Mexicans can get loan directly from Mexican banks. This is a huge development considering that now an American can use the same property that s/he is buying in Mexico to leverage the mortgage. No longer are you required to have a home or property in your native country.
4) Preconstruction Discount: Developers offer mouth watering prices for their preconstruction properties. This is no for any philanthropic reason but only to generate interest among buyers and entice their financial backers who want to be sure that their investment is secure. As a buyer, buying at this phase can mean huge savings for you. If you are nimble footed then this can benefit you tremendously.
5) Fractional Ownership: Do you like the idea of owning a vacation home in Mexico, but don’t want the burden and cost of repairs and maintenance? With fractional ownership you can have all the benefits of a luxury hotel without the price of buying expensive property. You can purchase a deeded share in a residence like one-fourth that gives you certain number of weeks per year at the property in Mexico and use of all amenities. By only paying for the time you use, fractional ownership can be a much more affordable way to live a luxurious lifestyle in Mexico.
Author: Tom Budniak
By Pexels from Pixabay