The term ‘baby boomer’ has become popular to describe babies that were born in the years of 1946 thru 1964. Today, the majority of these babies are already at retirement age, having benefited from a relatively secure economy. With time on their hands and an empty nest, many baby boomers are looking towards what they will do with the rest of their lives, which is where real estate in Mexico comes into the mix.
What challenges do baby boomers face?
The main challenges that baby boomers face is making a fixed income match their lifestyle goals while filling their time with inspiring activities to keep them active and young at heart. One of the ways that a number of North American baby boomers have faced these challenges is by purchasing real estate in Mexico.
Baby Boomers and Real Estate in Mexico
Many retirees find themselves on fixed incomes, no longer enjoying so much disposable cash as they did before. As living costs continue to rise all over the world, our dollars stretch less and less. Rising property taxes, groceries, healthcare and heating bills are just some of the ways that pensions become limiting for many baby boomers. In order to make their money stretch further, many people are now looking to relocate to Mexico just to simplify their lifestyles and reduce outgoings.
Life is more affordable in Mexico
Many baby boomers are now looking for a place to live where the bills are cheaper and lower, so their income can be stretched further. Mexico offers many attractive options for baby boomers, because the taxes on property are lower and the overall maintenance costs for homes are just a small fraction of what they are in Europe, Canada, and in the United States. All living costs in Mexico are considerably lower than many places around the world. Besides, real estate in Mexico is also affordable and ideal for downsizing or second home.
However, not all baby boomers are counting their pennies. Those who have a large family home, having worked hard and spent the majority of their lives paying off their mortgage, may consider to downsize in order to purchase a vacation property so that they can live the winters in a warmer climate. By downsizing in their hometown, these baby boomers can enjoy a home overseas too by investing in real estate in Mexico. Some baby boomers choose to break completely with their old life, opting to move permanently to Mexico.
Why Mexico Real Estate?
Mexico is a popular place for retirement amongst Americans and Canadians. Not only does Mexico have the best climate year round, it also has great, affordable healthcare, many amenities, and the best proximity to Canada and the United States with handy direct flights. The real estate in Mexico is also highly affordable and you will get a lot more for your dollars with money left over too for those luxuries you deserve in your retirement.