Baby Boomers in Mexico

The term ‘Baby Boomer’ is a moniker popularized in North America to describe people born between 1946 and 1964, although the group has been further sub-divided by generational researchers into two sub-groups: those born between 1946 and 1953 and those between 1954 and 1964 respectively.

As the Baby Boomers grew up, they became net beneficiaries of a post-war economic prosperity coupled with the panoply of benefits which emerged as new inventions and technologies were developed.  The generations born during the ‘baby boomer’ period also managed to build-up substantial wealth and assets, and today are acknowledged as the most prosperous and well-heeled generation in known history.

Now, with their own children having grown-up and flown family nests, Baby Boomers with assets are contemplating their situation and looking for ways to exercise their living inheritance. They are beginning to make a series of lifestyle choices not available to any previous generation on a mass-scale, and the buying-power they wield has made them one of the most influential and coveted market-groups.

The real estate market is being significantly influenced by Baby Boomers.   With mortgages paid-off and the substantial increase in property values over the years, their home is one of their most valuable assets.  Those Baby Boomers who have been diligent savers and investors throughout their lives also have nest eggs delivering a regular income.  Many are electing to ‘down-size’ to smaller houses, as part of a plan to purchase a home abroad or purchase a smaller house in their home country and acquire a second home abroad.   The latter is particularly popular with retired people who want to retain a foot-hold in their home country whilst also enjoying a home abroad, usually situated in warmer climes.

Americans and Canadians look to Mexico as a natural place for retirement – as it offers attractive features including a good climate, good infrastructure, geographical proximity to the US and Canada, and excellent road and air connections.  As the cost of living in the US and Canada rises, retirees on fixed incomes, especially, look to Mexico as a means to simplify their lifestyle and reduce outgoings.  European Baby Boomers – especially the Brits and Germans – are also turning an eye westward and choosing Mexico as part of their lifestyle planning.

A large number of the Baby Boomers purchasing real estate are doing so by means of one of the many Real Estate Development projects in Mexico, such as El Dorado Ranch in San Felipe, and Horizon Sky in Mazatlan.  Buying from a developer is one of the most straightforward ways of buying property in Mexico – read our guide (links at the end) for details about how to go about it.

Where are they going?
As communications evolve, both in terms of physical communications (roads, airports) and communication technologies (email, internet), people are venturing further off the beaten track.

Some areas in Mexico have been popular with expatriates for decades.  For example, San Miguel de Allende and Ajijic/Chapala (near Guadalajara) are teeming with communities of foreign expats.

The southern areas of Baja, too, are already popular, although some areas in the northern reaches of the peninsula are quickly catching up: with even closer proximity to the US border and a number of recent investment projects, for example in San Felipe, the scene is being set for hitherto-ignored northern Baja to be ‘the next big place’ in Mexico.

Locations like Patzcuaro and Morelia, situated in the mountains west of Mexico City, Veracruz and Campeche on the Gulf coast, Merida in the Yucatan, and San Cristobal de las Casas in the southern region of Chiapas, are just some of the places most foreign expats would never have considered moving to.  Today, they are emerging as locations with significant living and investment potential.

Puerto Vallarta has been booming for some years now: the pace of construction is mind-boggling and, some say, PV is now the fastest-growing city in Mexico.  So popular perhaps, that just 40 minutes north of Vallarta, Punta de Mita is becoming a new area of consideration as Baby Boomers scout for ideal retirement nests along the Pacific coast.

Towns along the Pacific like Mazatlan and Zihuatanejo are also serious contenders for significant future baby-boomer communities; and today, you will even find a significant number of boomer-age expats living in Acapulco if you look in the right places.

Our guide to Retirement Locations in Mexico contains a summary of all the key places in Mexico where foreign expats are retiring, accompanied by a brief introduction.

Further, but closer
Distance is important, which is why places like Baja are popular with American and Canadian expats, but with the advent of internet communications, distances are not as limiting as they once were.  For example, a retired couple who move to Mexico can now keep in touch easily and affordably with friends and family by e-mail, and video teleconferencing is not a sci-fi fantasy – it’s a reality realized by means of a simple web cam and a free online service like Skype.  Reliable broadband internet connections are available in most towns and cities across Mexico, and radio-signal systems are available for internet access in remote areas.

Mexico invested billions of dollars building modern toll roads during the 1990’s, and the country’s interstate road infrastructure continues to expand and improve every year.  A plan is also underway to develop the country’s airports, in particular to reduce reliance upon Mexico City as a hub (related blog) and create more ‘point-to-point’ routes using smaller regional airports.

Guides, local knowledge
We publish extensive guides to living, working and retirement in Mexico as well as investing in Mexican Real Estate.   Coupled with our travel guides, Mexperience offers a substantial source of information and knowledge to help you research and plan your lifestyle options in Mexico, see:

Travel Guides

Living and Working in Mexico

Retirement in Mexico

Guide to Real Estate in Mexico

Real Estate Developments in Mexico