In order to make a smart real estate investment decision when moving abroad – whether you are relocating to Mexico full time,or simply hope to own a vacation home that is rented out for income most of the year – it’s important to consider a few key factors,so we put together this basic moving abroad checklist that will help you narrow down the Mexico real estate investments for expats.
“A rental investment in another country can generate an income stream that’s independent of the U.S. economy and often denominated in another currency as well,” wrote U.S. News & World Report.
✓ Return on Investment
Ok,let’s face it,any investment is just that – something that by its very definition is supposed to appreciate in value over time and,ultimately,increase your wealth. So return on investment (ROI) is a very important component of investing in real estate and moving overseas. Although real estate is generally one of the safest investments around for the long term,there can be huge differences in the short to medium term between buying property like a home or villa versus a condo or smaller rental unit.
For example,while buying a beach house in Mexico might seem like a great idea at first glance,the realities of owning a standalone property in another country where you may or may not live full time can be daunting. By contrast,purchasing a professionally-managed condo in a popular rental area like Tulum,Playa del Carmen or Puerto Aventuras can take the hassle out of foreign property ownership and provide an amazing return on investment.
✓ Best Beaches in the World
Although there are a few popular destinations that don’t involve the beach,buying property close to the best beaches in the world is a pretty safe real estate investment decision and Mexico just so happens to be home to the most beautiful oceanfront property on Earth. But don’t just take our word for it! CNN named the white sand beaches of Tulum along the Caribbean Sea in Mexico’s Riviera Maya among the top dozen best beaches in the world.
“At Tulum,you can swim in the shadow of ancient Mayan ruins,” wrote CNN. “The Yucatan’s turquoise cenotes and excellent diving are tourist draws. Everything from mega-resorts to thatched cabanas offering boutique accommodations are available.”
✓ Affordable Universal Healthcare
Whether you are planning to live in Mexico full time or part time,being an expat means that sooner or later you will probably need to use the local healthcare facilities. Fortunately,Mexico has universal healthcare that is both very high quality and affordable,which is another reason this is an excellent place for anyone interested in real estate investment,relocating or moving overseas.
“Most doctors and dentists in Mexico received at least part of their training in the U.S. and many U.S. doctors have trained in Mexico,notably in Guadalajara,” wrote International Living. “The cost of universal healthcare in Mexico is generally half or less than what you might expect to pay in the U.S.”
Prescription drugs are also cheaper in Mexico than in other developed countries and the universal healthcare option is more affordable than anything currently offered in the U.S.,which is why Mexico is consistently ranked among the world’s best countries for expats,according to InterNations.
“Mexico scores highly on the Ease of Settling Index,” wrote InterNations in an article covering the worst and best places for expats worldwide. “The country receives top marks from expats for feeling at home in the local culture and ranks second in the subcategories of “Friendliness” and “Finding Friends.”
✓ Residency Requirements
Another reason that Mexico is one of the best countries for expats worldwide is that the residency requirements – including what you need to be eligible for its affordable universal healthcare – are very reasonable. In short,it’s very easy for expats to obtain residency in Mexico. Simply start out by applying for temporary residency,then follow up by applying for permanent residency if you plan to live in Mexico full time. Perhaps best of all for those interested in making a real estate investment is that you do NOT have to be a full-time resident in order to own property in Mexico.
Want to learn more? We can show you how so many buyers are opting to own their vacation home and rent it out throughout the year when it’s not in use to provide a consistent income stream.
Investment Properties Mexico is ready to show you why buying a beach house in Mexico is one of the best real estate investment opportunities in the world right now! Our trusted property professionals have the necessary experience to guide our clients through every step of the buying process and we have the inside track to the best real estate in Mexico. To learn more about how we can help you buy real estate safely in Mexico,contact us today!