“For people who make a living in U.S. dollars,the prospect of buying real estate in Mexico offers an even greater opportunity,” shared Richard Houghton of Investment Properties Mexico.
Add to that a low cost of living,and it starts to become clear why there are an estimated two million expats in Mexico. In fact,a 2015 study by Best Places In The World To Retire titled,“Expats: Expectations and Reality," shows that nine out of ten expats stated that the lower cost of living was a factor in deciding to move to Mexico,along with considerations like warm tropical weather year round,safety and easy access to high quality,affordable healthcare. But even considering all of this,the exchange rate is making real estate in Mexico take center stage for expats and investors.
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“This may be a particularly compelling time to consider a move for those who receive their income in U.S. dollars,” wrote The Yucatan Times. “That’s because of the improving exchange rate between the U.S. dollar and Mexican peso.”
This relationship between currencies is making it more affordable than ever to buy and rent real estate,products and services in Mexico’s hottest destinations. And the best part is this is true whether you are looking along the Caribbean coast in places like Cancun,Playa del Carmen,Tulum and other parts of the Riviera Maya,or on the Pacific coast in Puerto Vallarta or Cabo San Lucas.
“If you’re living in Mexico now,this is the time for that big purchase,” longtime expat Mitchell Keenan told The Yucatan Times.
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“Americans living here can easily afford to have maids and gardeners,eat out often,travel within Mexico,remodel their home,purchase a new car,etc.,” stated Lake Chapala resident Thomas Hellyer. “High quality healthcare,which was already low,has become [even] more affordable. It’s a very good time to live in Mexico if you have savings or income in U.S. dollars.”
Of course,the current exchange rate also works well for people who are ready to purchase property in Mexico,leading real estate experts to predict an influx of knowledgeable investors and a new wave of U.S. retirees in Mexico.
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