Retiring in Mexico or Costa Rica should be a transition from your busy past to a carefree future. This article addresses steps to take, while preplanning, to make that change to the best years of your life.
Typically, Americans who are still working experience several housing changes in their lifetime. Statistics tell us that about every seven years are the average stays in one dwelling. One of the most common moves is after the single-family “nest” is empty. That is the time when the children of the marriage have moved on to college or an adult life on their own.
Senior housing options are more accessible than in years past. By taking a tour on the Internet it is possible to see a house to buy or rent – any place in the world! Many grandparents want to “get away” but not too far away. Retirement in Mexico or Costa Rica makes travel back to visit a US-based grandchild not difficult. Grandchildren visiting your out-of-country home are exposed to an international educational bonus and a true adventure. However, there are still a lot of questions, economic and otherwise, related to when, where, what, and how the relocated place called “Home Sweet Home” will materialize as a new home for a retired individual or couple. This article was written to help you consider your options.
Renting – Testing the Water
Retirement in Mexico or Costa Rica are ideal options for anyone who dreams of expansive views of oceans or mountain. Deserts or rainforests, beaches or deep jungles, volcanoes or bolder covered shorelines: Mexico or Costa Rica offers all those options and more. There are freshwater lakes that look nearly as big as the ocean in Ajijic, Jalisco, Mexico, on Lake Chapala. Far west is Banderas Bay where Puerto Vallarta, Jalisco, Mexico and Nuevo Vallarta, Nayarit, Mexico, enjoy the safety of the largest natural bay in Mexico and at 3,000 feet deep, one of the world’s deepest bays.
Costa Rica sits in the heart of Central America with both the Atlantic and Pacific Oceans on either side of the country; Mexico offers the same dual-coastal options. In both countries, there is extreme bio-diversity with deep-seated cultural roots. There are areas where English is the primary language, and daily living is a breeze. There are isolated spots where neither English nor Spanish is spoken. The variety will make the final decision a matter of the best choice not “settling for” something less than the perfect real estate option for your retirement.
The prospective retiree would be wise to rent a comfortable space from a reliable real estate broker for a month or more before making a decision on which area offers a well-suited “escape plan” and which house is your perfect retirement home. Since both countries have dream-like climates and unique housing options, an unpredictable salesperson who lacks credentials and/or scruples may promise the world and deliver only heartache. A reputable real estate broker will make every effort to match you with the ideal home in an outstanding location for your retirement plans. You can be sure that a limited number of inspected, quality waterfront - on saltwater or freshwater - houses are for sale. Making certain that you are dealing with an established broker will assure you a carefree retirement.
Transitioning from One House to Several
If the choice is too complex, it’s of value to consider buying more than one home out-of the country and dividing your life between them. Frequently retired adults roll their sales dollars from a US house into one or more pieces of real estate in Mexico or Costa Rica. Rental property is always an option, as is traveling between different locations. Verify with an honorable real estate broker regarding what options will give you the best variety for your investment. In any case, the value of property, especially along a waterway, will continue to appreciate while being enjoyed by the retiree.
Remodeler Cautions
Regardless of where or what property you finally purchase, keep in mind that a well-respected real estate broker is your best guide to searching the right architect or remodeler for the job. Established real estate salespeople have created a history of clients who have had outstanding experiences; that is who you want to hire to add a swimming pool or build a visitor’s apartment. The cost of food and travel in Mexico or Costa Rica is so much less than in the USA, save dollars on travel and adventure. Invest wisely in well-constructed and correctly maintained property to give yourself a carefree retirement.
Written by 2Casa Expert: Dr. Jacqueline Zaleski Mackenzie, author, speaker, and social scientist
www.jacquelinemackenzie.com, is author of Empowering Spanish Speakers and other books to help understand the Latino culture. She has a BS and MS in business and an EdS and PhD in bilingual and special education and sociocultural studies. She lives in a native village in Central Mexico where she researches the Mexican culture and remodels a campesino home.
Why Foreign Investors Favor Investing in Costa Rica Real Estate? Costa Rica has been ranked as one of the best travel destinations in the world. In fact, National Geographic named it as one of ten best destinations. The reasons are simple. Costa Rica has some of the best fishing in the world, a beautiful tropical rain forest, gorgeous beaches, water sports, boating, marinas and fabulous nightlife including casinos, gambling, great food and so much more.
Posted 2011-10-05
Retirees Investing in Costa Rican Real Estate Since Costa Rican law allows foreigners to purchase real estate in Costa Rica, retirees from the United States, Canada and Europe have been investing in Costa Rica for quite some time now. With economic problems in the U.S. and Europe, Costa Rica’s stable, democratic and prosperous economy make this country an even more desirable destination to live and retire.
Posted 2011-10-05
