Over the last decade or so, real estate development projects have been flourishing across Mexico, many catering specifically to the ever-increasing number of foreign retirees moving here.
Some of the most popular areas are those along the coastline. However, less well-known areas are also being developed, mostly inland in and around Mexico’s beautiful colonial towns and cities; these retirement communities are breathing new life into hitherto unheard-of provincial areas in Mexico, and the clean, crisp mountain air that is prevalent in these areas provides a year-round temperate climate: never too hot, never too cool.
Buying property in Mexico from a real estate developer has become a very popular way for foreigners to get into the Mexican property market. Good projects are well-funded and spear-headed by professionals who know the market and have done all of the hard-graft in terms of securing proper entitlement to the land, the permits as well as negotiated with the local authorities on matters such as site access as well as the provision of essential utilities. Furthermore, buyers are presented with a fully-functional, modern and comfortable residence — often decorated to order — to move into soon after building completion.
Developers know that many retirees are seasonal visitors to Mexico (“snow birds”) and for this reason, they provide rental programs whereby the company managing the development might also manage the rental of the owner’s property when they are absent.
Most retirement communities are not just housing projects: they provide a complete solution for people who want to retire to Mexico. The developments are often surrounded by an abundance of amenities including local sports and leisure facilities, golf courses, swimming pools and spas and other cultural and/or nature attractions. This type of arrangement enables residents to take part in a variety of activities (or none, as they prefer) and become an integral part of a residential community, instead if just buying a house in Mexico.
Our research shows that over 40% of the people who visit Mexperience are planning to retire and/or buy real estate in Mexico. With increasing costs of living (especially food and energy), mounting healthcare costs, and hard winters in the north, Mexico continues to provide a very attractive alternative to retirees: homes are affordable, home taxes and maintenance costs are a fraction of those in the US and Canada, the cost of food staples is lower, the climate is ideal, the locally-grown food is really good for your health, and foreigners can get first-class healthcare here–to the same (or better) standards than you would get in the US, for example–and often at a fraction of the cost; dental care is a prime example.
Retirement communities are still a growth market in Mexico–notwithstanding all of the recent press about the country. The simple fact is that Mexico offers a range of amenities and benefits which are highly attractive to retirees–at price points they can afford. Contrary to popular belief, many Baby Boomers do not have countless pots of gold in their basement: increasing numbers of retirees are feeling the pinch, with fixed income budgets coming under intense pressure. And for those who are planning their retirement, getting best value for a lifetime of savings is top priority.
Mexico’s retirement communities are offering real solutions to real problems and this market is can only grow as more people move into retirement age. You can learn more about retirement communities in Mexico by connecting to our Mexico real estate section.
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