New numbers from the U.S. State Department reveal that close to one million Americans are currently living in Mexico, most of them retirees. With the low cost of Manzanillo, Nuevo Vallarta and Puerto Vallarta homes, more and more US citizens are seeing the benefits of retirement in Mexico. The affordable cost of living coupled with new laws that make it easier for Americans to purchase real estate has made Mexico the greener pasture many retirees are looking for.
This new data on the number of Americans living in Mexico is quite startling. Nearly nine percent of all Social Security recipients in the United States are spending their benefits on retirement in Mexico. Popular purchases include Manzanillo real estate, Nuevo Vallarta condos and Puerto Vallarta homes. Since these are common vacation spots, many Americans are already familiar with the areas and there are more stores and convenient services geared towards American tourists.
The team at Latin American Home Investment partially attributes this shift towards retirement in Mexico to the recent revisions of Mexican law which make it easier for foreigners to purchase real estate. Now it’s possible for Americans to purchase beautiful Puerto Vallarta homes right on the beach, as long as they use a “fidecomiso,” or bank trust. It has also become easier for American citizens to obtain home loans in Mexico. An increasing number of mortgage companies based in the United States now lend money to Americans buying real estate south of the border.
Americans living in Mexico have been most successful when they’ve done their research about the city they’re planning on living in and enlisted the help of a real estate professional who understands the area, according to Latin America Real Estate. Real estate agents who are bilingual and familiar with Mexican transactions are the best choice. There are also some good marketing companies that can help buyers to learn more about various resort communities that are perfect for retirement in Mexico.
About Latin American Home Investment:
Living in Latin America is becoming more popular than ever before. An array of choices between communities, cities and land developers has come with that popularity. Latin American Home Investment has built a home for communication, input and suggestions for the best and worst Latin American Real Estate Opportunities. Their goal is to assist those seeking to retire, invest and relocate to Latin America.
Latin American Home Investment provides access to basic relocation and purchasing information for:
- Acapulco – Mexico
- Baja California – Mexico
- Cabo San Lucas – Mexico
- Cancun – Mexico
- Central Mexico
- Costa Rica
- Manzanillo – Mexico
- Mayan Riviera – Mexico
- Mexican Riviera
- Puerto Vallarta – Mexico.