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Why Is This A Good Time To Buy Real Estate In MexicoWith the current uncertainty in the U.S. stock and real estate market, property values going down and the cost of living going up from every direction, where can you turn to for some market stability and economic relief? Look south of the border, invest your money in the many real estate opportunities on Baja, Mexico. Where there is more than great weather, no hurricanes, a peaceful atmosphere, it’s close to the border plus many different things to see and do.
Reasons to invest in Baja Real estate :
1) Mexican real estate is not affected by the current housing crisis afflicting the U.S., it’s a totally different market with a different economy, separate laws as well as separate governments. This means that your property value will not go down because U.S. properties are, and decisions made by U.S. government officials do not affect the conditions of your Fideicomiso or Trust Agreement .
2) The price range of similar homes in the California coast is between 4 to 5 times as much and can be in overcrowded communities, plus you also have to consider the maintenance and property taxes that come along with them. Mexico property taxes are significantly lower than those in the U.S., most of the communities in Baja if not all of them have their home owners association with fees that cover ground maintenances, as for the home maintenance cost, the are also lower than what you would expect in the U.S.
3) Developments along the Rosarito - Ensenada road are far enough away from the cities to give you a peaceful hideaway and relaxing days, yet close enough that you can be there with a short drive, whether for shopping, dining, entertainment or sports.
4) With the current global economic situation, the purchasing power of many currencies has gone down, this is also true for the U.S. dollar (see our currency converter), and even though home prices and interests on mortgages have gone down, the cost of living has gone up all around, from gasoline, to food, to healthcare, stretching a dollar keeps getting harder to do. Why would living in Baja make it any easier? Mexico is not immune to the global financial problems and the cost of living has gone up as well , but so to has the purchasing power of a dollar. As of 2009 the dollar has fluctuated between 13.50 and 14.00 pesos, finding the best exchange rate and paying in pesos helps your dollar go further (see our currency converter).
5) As the stock market keeps fluctuating with no stability on the horizon and big losses for investors, people have been taking their money out only to place it in banks that have latter needed to be rescued. So close to keeping your money in your mattress, one tangible investment is real estate, with a reputable realtor buying a home in Baja can be one of the safest investments you can make, be it for relocation in these tough times, a vacation get away, a retirements home or just to keep your money where you can actually see it and sell it at a later date.
There are several options when it comes to real estate investments in Baja, such as condos, houses or a piece of undeveloped land, you realtor can advise on the best option for you.
In these tough times, a good investment that will give you piece of mind is a tangible asset in a stable market, Baja real estate is an opportunity to keep your money out of the uncertainty of the banks and stock market and place it where you can see it, and see the ocean while you’re at it.
Mexico has won the #1 rank for retirement destinations for 2007-2008 given by International Living; the reasons for the #1 rank were: first rate health care, affordable beach front property, low cost of goods and services, and availability of cell phone, cable, and high speed internet. Mexico is growing as a residence destination for Americans, estimates place the number of Americans currently living in Mexico to approximately 1 million, not just retirees but people of all ages.
Many people have already made the choice of purchasing a home in Baja, and not because of the stock or real estate market but because of what Baja has to offer a warm climate that is comparable to the warmth of its people, a culture rich in history and tradition, year round events to keep you busy.
Written by Alejandra Esquivel
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