Vacation Home now, Retirement Home Later?
What if you could buy a vacation home now, rent it out for most of the year, then have yourself a nice little, mortgage-free palace when you’re ready to retire?
That’s precisely what some folks are doing with Mexican vacation homes in fly-in destinations like Mazatlan, Puerto Vallarta, La Paz, as reported by MarketWatch. Money is a motivator. (What isn’t, right?)
South of the border, Americans’ dollars go further, and homes tend to be more reasonable than in the United States, according to the report. Even so, people need to be mindful of choosing the right builder to assure that the quality of construction meets their standards.
Anyone own a vacation home in Mexico who plans to retire there someday? Have property values dipped, gone up or remained steady? Would love to hear from you.
January 27th, 2009 at 7:27 pm
My wife and I bought a Condominium in San Carlos, Mexico in 2007. It’s in a complex named Bahia Delfin or “Dolphin Bay”. Boy has it lived up to it’s name!! We can sit in bed and have our morning coffee while watchig the Dolphins swim right in front of the Condo!!
We rent it out when we’re not there, and so far it has covered the Mortgage. I have found that owning property in Mexico is not as complicated as you would think and we are very satisfied with our purchase!