This colorful country widely known as a winter holiday destination and for its famous sombrero’s, lively Mexican music, margarita’s, beautiful stretches of Pacific and Atlantic beaches, and its flavorful foods from enchilada’s to burrito’s and taco’s and more is now grown to become a destination of choice for second vacation home ownership and to those seeking a new home in warmer climes. In fact, more than 1 million American and Canadian expat’s are enjoying life in Mexico.
And with much to do in Mexico your interests and new found hobbies could be as diverse as windsurfing, kite boarding, snorkeling, deep sea fishing, golfing, discovering Mayan ruins or the sprawling rainforests, to enjoying the opera and ballet or exquisite beaches and private lagoons, and of course enjoying the Mexican night life and superb cuisines. What's more, Mexico has 100,000 square miles (170,000 square kilometres) of "Protected Natural Areas” and 64 national parks and is also one of the 18 mega diverse countries of the world with over 200,000 different species and home to 10–12% of the world's biodiversity, a shear delight for the eco tourist and adventurer.
Buying Property in Mexico Mexico is bordered by the United States to the north, the Gulf of Mexico on the east, the Pacific Ocean on the west and by Guatemala and Belize on the south. Over its 761,606 sq miles (1,972,550 km²) and at almost three times the size of Texas, Mexico is the world's 14th largest country. And with such topical diversity from its high, rugged mountains; to low coastal plains, undulating green pastures and high plateaus, the life style choices are numerous for vacation home ownership, That and together with the most modern of conveniences at hand you can enjoy a very good life and at less cost; as money buys you more south of the border.
Actually, it could cost you half as much to live in Mexico. The housing market and the cost of living are lower; there are very few taxes and … Health-care costs are minimal. Health care in Mexico is Government-funded. Here you will find the hospitals are state-of-the-art, with the same high-tech medical procedures available north of the border yet for premiums as low as $270 per year.
With all this Mexico has to offer, it is no wonder for two year's in a row, Mexico has been recognized as the top spot in International Living’s Global Retirement Index, And unlike other retirement havens, you don't need to pay substantial amounts to become a resident and securing a visa is easy plus you can bring in all your personal belongings in duty free, including your car.
Mexican mortgages are available up to 50% with a maximum loan amount of $500,000. And unlike in the US, the only way to pull equity out of a Mexican property is to do a refinance for no equity lines of credit exist in Mexico or reverse mortgages.So drawing a mortgage to the max is advantageous. See more on Retiring in Mexico- Investment Strategy.
What’s more the peso is worth more when exchanged. One U.S. dollar now in 2010 equals 13 Mexican pesos and with a history of the pesos in the last decade to the US dollar remaining stable; at 10.8 (2007), 10.899 (2006), 10.898 (2005), 11.286 (2004), and 10.789 (2003) expats can buy their Mexican vacation home with peace of mind and comfort in its sound investment. And as of late 2009 mortgage rates have dropped. For the first time ever, mortgage rates have dropped by 1% for
US Dollar loans in Mexico. Great time to buy in Mexico!
With the growth of the economy, Mexico’s Government has launched a 5-year, $38 billion infrastructure agendabuilding new highways, railways, airports and ports throughout the country. The Mexico of years ago is no more. What has emerged is a Mexico with a strong stable government, along with a First-World class infrastructure and all the conveniences of modern life, including high-speed internet, mobile telephone networks, high-tech medicine, paved multi-lane freeways, and more.
Where can you buy in Mexico? Any where…foreigners though cannot outright own land within 31 miles (50 kilometers) of any Mexican coastline and 62 miles (100Kilometers) of any Mexican border unless it is through a bank trust agreement. Although this may seem exceptional, it is an accepted proviso, one that recognizes the buyers’ full rights. In fact, the bank as trustee buys the property and within the trust agreement recognizes the foreigner as its beneficiary, which allows the foreigner to use, enjoy, and sell the property (and at market value) in this restricted zone. In contrast on the interior of Mexico, a foreigner can buy free and clear, without the use of this bank trust agreement or ” fideicomiso," (FEE-DAY-E-CO-ME-SO) The restriction of this land is part of the constitution. The Mexican Government created the "fideicomiso" to attract foreign capital in the restricted zone encouraging development and foreign ownership. Learn more on how to navigate Mexican Tax Laws.
And Mexico is readily and easily accessible. No matter where you are in Mexico, your new vacation home is accessible with its 22 International Airports and direct flights from many North American centers, the United Kingdom as well as Europe. And contrary to other Caribbean Islands, Mexico is one place you can drive to from North America, There is no water mass to cross. So by air or land, Mexico is easily within reach.
And the diversity of lifestyles in Mexico is vast…. If you'd like a tropical climate or a more temperate one…if you would like to live in an English speaking community, with familiar big name stores and restaurants and shops, or choose a quaint sea side village, even a colonial city, to a mountainous retreat or to ranch land or beach, there are plenty of places to choose from. For further information on Mexcio see Mexico at a Glance.
The country is divided into 31 states and one Federal District (Mexico City) and six tourist regions are recognized. These include:
Northern Mexico characterized by deserts, nature reserves and rugged mountain ranges and extreme weather conditions. Cities in the region are key industrial and business centers. Northern Mexican states are: Sonara, Chihuahua, Coahuila, Nuevo Leon, Tamaulipas, Sinaloa and Durango. Some Cities in this region are Chihuahua, Torreon, City of Durango, Monterrey and Cludad Juarez.
Central Mexico the Mexican heartland. Here you’ll find plenty of natural surroundings, picturesque towns full of life and color, and beautiful colonial cities, some of which have been declared World Heritage sites. The states in this region are: Hidalgo, Morelos, Estado de Mexico, Veracruz, Michoacán and Pueblo. With Cities such as San Luis, Pachuca, Pueblo, Queretaro, Morelia, Irapuato and Patzuaro and Veracruz.
Southern Mexico and the Gulf of Mexico. Lined with the shores of the Gulf of Mexico and the Pacific Ocean, this region offers an abundance of marshes, mangrove swamps and forests, all of which are ideal for ecotourism outings and exciting outdoor adventures. These Southern states are: Tabasco, Chiapai, Oaxaca, Guerrero and Mexico. With Cities such as Acapulco, Ixtapa, Xalapa, Tuxtla Gutierrez, Palenque, Taxco, Oxaca, Tepoztlan ,San Cristobal de las Casas, Villahermosa and Cuernavaca.
Yucatan Peninsula of Mexico. Butting onto both the Gulf of Mexico and the Caribbean Sea, there is a hub of hotels with endless white sandy beaches featuring water sports of all kinds for the day and an exciting night life at night. Yucatan, Quintana Roo and Campeche comprise the states of the Yucatan Peninsula. Some of the favorite tourist areas are Cancun, Cozumel, Playa del Carmen, Merida , Chichen Itza and Chetumal.
West Mexico. Along the western coast of Mexico on the Pacific Ocean and inland, lie seven different states, all offering their own uniqueness and lifestyle. From the cobblestone streets of Puerto Vallarta in Jalisco to the lay back lifestyle in La Cruz there is a place and pace for many a traveler. The states of West Mexico are San Luis Potosi, Zacatecas, Jalisco, Nayarit, Guanajuato and Colima. With Cities such as Mazatlan, Guadalajara, Colima, Manzanillo, City of Guanajuato, City of Zacatecas, Nuevo Vallarta and Puerto Vallarta.
Baja Peninsula. Located on the far west of Mexico and south of California, the Baja Peninsula is surrounded by the waters of the Gulf of California and the Pacific Ocean. The southern tip, with the centers of Cabo San Lucas and San Juan del Cabo are favorite travel destinations but with the never-ending beaches and coastal line of the Baja, there are places in abundance to experience and be. The states of the Baja Peninsula are the Baja California and Baja California South. With Cities such as La Paz and as mentioned Los Cabos and Cabo San Lucas.
Come discover Mexico and experience its uniqueness and charm and warm friendly people... Pour Va Vour Senora’s, Senorita’s and Senor’s.
