| For years, Americans have entertained the idea of | | | | estate agents and choose one with experience and |
| retiring in Mexico. But today with the rising cost of | | | | references for working with international buyers. |
| living in the US, more and more people are buying | | | | Property Taxes: |
| property in Mexico and enjoying their retirement | | | | Property taxes, called predial in Mexico are extremely |
| years for far less than they could north of the | | | | low compared to the US Canada, Europe, and most |
| border. Contrary to popular belief, retiring and buying | | | | parts of the world. The tax is a percentage of the |
| property in Mexico is much easier than most people | | | | assessed value of the property, which is determined |
| think. | | | | at the time of the sale. This is another good reason |
| Retirement friendly Mexico: | | | | for buying real estate in Mexico before the prices |
| Mexico isn't just a great place to retire simply | | | | start to really climb. |
| because buying property in Mexico is inexpensive and | | | | Although your property value may rise drastically, |
| the weather is world class. The Mexican government | | | | you'll continue to pay taxes on the stated sale price. |
| offers attractive benefits like a special visa and | | | | The percentage of property tax you'll pay depends |
| inexpensive health care for expatriates who come to | | | | on where you buy real estate in Mexico. In most |
| Mexico seeking the good life in their retirement years. | | | | places, the predial is approximately 0.1% of the |
| The "rentista" is a special type of non-working visa | | | | stated value. |
| available to retirees 51 and older. In order to obtain a | | | | Weather: |
| rentista, you'll need to provide a letter from the bank | | | | The type of weather you will experience greatly |
| or social security administration stating that you | | | | depends on where you choose to buy real estate in |
| receive a certain minimum income each month. | | | | Mexico. No matter where you buy real estate in |
| Retirees are also eligible for IMSS, a Mexican social | | | | Mexico, you probably won't need a heavy winter |
| security plan that costs $200 per year and covers | | | | coat, but there are great differences in the weather |
| medical, dental, and vision care. | | | | depending on which part of the country you're in. |
| Buying property in Mexico: | | | | If you choose Costa Maya property, you'll enjoy |
| Mexico has made buying property in Mexico for | | | | warm and gorgeous tropical Caribbean weather for |
| non-nationals a simple process. You don't need to be | | | | part of the year, balanced by the rainy season |
| a resident of Mexico to own a home in Mexico. If | | | | between June and October. For more temperate |
| you'll be buying property in Mexico within 50 miles of | | | | weather, you may want to consider locations that |
| the coast or 100 miles of a national border, you will | | | | are located 3,000 to 6,000 above sea level such as |
| need to set up a Mexican corporation which will | | | | Oaxaca or Chihuahua. |
| technically own the land or a beneficial trust called a | | | | The benefits to retirees such as inexpensive |
| fideicomiso. | | | | property, a wonderful healthcare system, and a |
| When buying property in Mexico, make sure to | | | | relaxing environment are just the beginning. Mexico is |
| choose a reputable real estate agent to help you get | | | | rich with culture and tradition, filled with eco-friendly |
| your corporation or trust established correctly. There | | | | things to see and do, and has some of the most |
| is no real estate license system for selling and buying | | | | amazing landscapes you'll find anywhere in the world. |
| property in Mexico, meaning that anyone can act as | | | | If you're just beginning to think about retiring and |
| an agent whether or not they are familiar with the | | | | buying property in Mexico, you're in for an exciting |
| laws and procedures. Before buying property in | | | | journey of discovery on your quest for knowledge |
| Mexico, be sure to spend time researching real | | | | about this fascinating country. |