New Life in Mexico

Crafting a Great New Life in Mexico

When looking for better job opportunities or a major life change, you will have to consider several things. The experience can be very daunting and adjusting to several aspects of your new life can be stressful and time-consuming. You also have to consider how well you can cope with uncertainty. Crafting a new life in Mexico will be more fruitful when you use the right methods during the transition time. Make the change more comfortable with these simple and reliable tips:

Have a Flexible Plan

Starting a new life in Mexico or in any other country depends on the planning and preparation. A plan serves as your guide and keeps you focused when things get rough or rocky. It will help you track your development towards your goals. When you have a plan, see to it that you are open to other opportunities and do not be too rigid with your plan. Each endeavor must start with a plan, but even the plan has to keep evolving as you become more familiar with the country, the lifestyle, and the requirements of your new job. Plans should always be a work in progress and accept that making changes to your plan is part of the plan.

Socialize regularly

Upon arriving, honing your social skills through networking is another important task. Start making new friends in your new job, join a gym, meet people at your kids’ school, join a club, etc. Social media like Facebook groups can also help you get connected with other expats to share experiences and knowledge about your new life in Mexico.

Set Aside Money

Getting settled into a new location means more expenses than you have first envisioned. Setting aside enough money to get you through is essential even when you are moving to Mexico for a new job position or with a retirement fund. You will have to spend money and effort finding the ideal plumber, car workshop, rental agent, etc. Acquiring new friends through socializing will also require some budget. When things get out of hand, your emergency fund will help take away those fears and keep you calm.

Be Patient and Understanding (with yourself and others)

While you are getting to grips with the culture your new life in Mexico will require you to have an open mind. At least for the time being, learn to accept things as they run. Never compare your present home with the former country you left behind. Being patient is the number one rule. Getting impatient and angry will not help. A soft approach often gets better results, especially for you as a foreigner.

Learn a New Language

Not only will learning a new language open up new opportunities to expand your networking group immensely, it will also help you improve your chances of being successful in your new life in Mexico. Learning Spanish should not a burden since it is one of the easiest languages to learn. You also don’t need to become fluent to make a difference. Better communication is a result of even learning just the basic. There are many groups and affordable classes where you can take Spanish lessons along with several online and app options.

Do you have any other great pieces of advice to share on how to craft a great new life in Mexico? Please share your tips.

Plastic or Cash

Plastic or Cash?

Plastic or cash is the common question that is being asked by people who are thinking about moving to Mexico to live or take a vacation. Cash in notes and coins is always a favorite choice in Mexico although many of the western countries in the North American and in Europe are using less cash. Cash is still the most preferred and popular way to pay for food, goods, and services in Mexico no matter that the major move is going towards credit and debit cards along with internet banking.

Plastic or Cash in Mexico?

Credit and debit cards are currently being used all over in Mexico by most middle-class people in Mexico with many working class people starting to use plastic cards more. Nearly half the people and households in Mexico today don’t have a current bank account, and they depend on Mexico’s cash-based environment for all their purchases. Recently, internet banking is starting to be used. Not too long ago, the Bank of Mexico did an underlying study that revealed that a large majority of the people in Mexico that have a debit card are only using the debit card to draw out their paycheck at a local ATM to then use cash, which clearly states that the form of payment in Mexico that is often preferred and widely used is cash.

Credit and Debit Card Payments in Mexico

All of the main supermarket and grocery stores, department stores, the stores at the malls, popular restaurants in the larger towns and cities, well-known car dealerships, furniture stores, technology and electrical stores, popular food and beverage chains (such as Starbucks and McDonald’s), the bus companies, travel agencies, professional providers (such as dentists, doctors, and attorneys), and all major businesses that do business with the middle and upper classes accept credit and debit card payments. These businesses also accept smartphone payments too. The mobile phone companies allow their customers with pre-pay phone services to pay with a credit or debit card at their stores, online, or paying on their smartphone.

Cash Only Payments in Mexico

There are many places that only accept cash for their payments in Mexico such as many independent convenience stores, open markets, street cabs that are independent, shoe shine stalls on the streets, ambulant vendors, street food trucks, corner newspaper vendors, smaller shops, smaller boutiques, and paying for your personal help such as your housekeepers, gardeners, and pool maintenance workers. Electricians, carpenters, and plumbers are a few trades that will accept cashless payments, but these payments are generally a money transfer to a local bank, but if any of these trades are doing a routine job for you such as fixing a leak, then they will only accept a cash payment.

Souvenirs on Vacation

When you are touring a city while on vacation in Mexico, then you will need to have cash for any local transportation that you use or to purchase any souvenirs from street vendors or stores that are locally owned.

Tipping in Mexico

Cash is essential and needed when you are going to be tipping in Mexico. When you are leaving a tip, then the cash should be preferably in the form of pesos. If you are vacationing on a tour package and the majority of your vacation will be spent at the resort, then you may not need to have a lot of cash as there are only a few times that you will need to have cash.

Plastic or cash in Mexico? As you can see, there are places that you will need to pay for goods and services with cash while other places will only accept debit or credit cards.

Reference: https://www.mexperience.com/cash-please/
Puerto Vallarta Real Estate For Weekend Getaways

Puerto Vallarta Real Estate For Weekend Getaways

If you are thinking about buying a home in Mexico as an investment in your future vacations then you need look no further than Riviera Nayarit and Puerto Vallarta. It may seem idealistic to think that you could own your own home abroad what with the cost and complexities that such an investment brings, but there are some things you can do to make this a little less stressful and a little more feasible.

Owning a home with a resort such as Villa La Estancia in Nuevo Vallarta is one thing you can do to make it simpler. Puerto Vallarta can become a great option when looking for real estate for weekend getaways, even if you live abroad. Take a look at some of the reasons as to why you should consider Puerto Vallarta as the destination for your vacation home:

Short Travel Time to Puerto Vallarta
If you live in a US city near Los Angeles, San Diego, San Francisco, Dallas, Houston, Laredo, and Phoenix you can expect to be in Puerto Vallarta within 1 to 3 hours, and though it’s slightly longer if you stay further north in New York or Toronto, direct flights still give you enough time to get the most out of a weekend away. Puerto Vallarta real estate for weekend getaways can be a viable option even when you live in the USA.
National Owners
Reals estate for weekend getaways is a particularly great choice for national owners. Puerto Vallarta is not only a tourist hotspot for international visitors, but it’s a real favorite with Mexican nationals too! It’s common for people to make the 4.5 hour drive from Guadalajara to have a weekend away, and you even get city dwellers from Mexico City, Tijuana, Monterrey, Queretaro, and Leon coming to this coastal city for some down time.
Homeowners Association
You could be forgiven for thinking that trying to maintain a second home so far from your main residence, but the Villa La Estancia in Nuevo Vallarta makes it easy to own property in Mexico and use it as a weekend getaway. The homeowners association makes sure that all common spaces are kept in good working order, and there’s even a maid service which you can employ to keep your home tidy and clean whilst you’re away.
On-site Security Provides Peace of Mind
The Villa La Estancia real estate options found Puerto Vallarta have all the most up to date security features, and benefits from 24/7 on-site security. This gated community takes your safety and peace of mind seriously! You can sleep soundly, and travel without worry when you own property here.
Rent out your real estate
The waterfront setting offered by Villa La Estancia properties is quite remarkable, and because of it’s beauty the real estate here is considered very desirable and valuable. This means that any weekend getaway home you buy here could give you real returns in terms of vacation rentals too. The plentiful dining and shopping options along with the many family friendly attractions in the area make it perfect for people of all ages and persuasions.

Better still, the villa La Estancia offers property managers to those who wish to leave the details of letting out their property to someone more knowledgeable than themselves. So, really, your vacation let can make you money, give you joy, and do it all without you needing to stress about it!

Real Estate Investments

Real Estate Investments

In the past, the stock market has always been the number one choice for North American investors as they have trusted the stock market with their hard earned income, but lately there are clear signs that this is changing to real estate investments due to the continued uncertainty of the global economy, which is why people are searching for secure investment choices.

Secure investments

One secure investment that you can feel and visibly see is a real estate investment. It is becoming very clear that the real estate market is a safer investment than the stock market for many different reasons, but only if you purchase property that is in a region that will grow and generally in these areas the property will be affordable. Many times when one invests in real estate they are required to put a large down payment for the property, but the returns is very positive and real estate investment properties are for smart buyers who are wanting a property that will provide income and these type of properties would include; apartment buildings, vacation homes, retail properties, and multi-family buildings.

How to invest in real estate

There are a few different ways that you can invest in real estate as you can purchase a (REIT and FIBRA) real estate investment fund or you can purchase a private home, vacation home for rentals, retail locations, office spaces, and apartment buildings. As you can see real estate investments options are endless.

By just glancing, one may think that the stock exchange is the better investment for people over real estate investments, but once inflation is added in along with the cash flow that you would receive annually with the real estate property investment, then it is crystal clear that the better investment opportunity is with real estate investments. One should also consider the appreciation on the real estate as with it you will be earning money every year just by being the owner. One excellent real estate investment is purchasing real estate in locations that is not fully developed, but on the way to emerging, and doing this will provide an immediate appreciation when the location is fully developed. Another excellent real estate investment is purchasing properties that will provide you with income as this is a large return on your real estate investment. Vacation homes and multiunit apartment buildings are two types of properties that you will receive a large return and income for your investment.
Real Estate Investments vs. Stock Market

Here are just a few of the top reasons why real estate investments are better than the stock market:

  • Larger Control Personally
  • Many Advantages with Taxes
  • Real Estate Investments are Secure and Stable
  • Easy to Analyze
  • The Property is Yours to Use

As you can see, real estate investments are the better option over the stock market and it doesn’t matter how old you are. You will receive a constant return and income that is secure, safe, and steady. Real estate investments will always be a safer choice for many, many years and if you select a property that produces income in an up and coming area, then your investment could triple.

Vacation Rentals in Mexico

Real Estate for Vacation Rentals in Mexico

There are plenty of real estate opportunities available for prime locations in Mexico that include Los Cabos, Puerto Vallarta, and Cancun in case you think that you have missed out on an amazing real estate opportunity. For foreigners it is easy to invest in real estate for vacation rentals in Mexico, especially now that there are websites, which include Craigslist and Airbnb where vacation rental properties are advertised.

Real Estate for Vacation Rentals in Mexico Investing

Today, foreigners can easily purchase real estate throughout Mexico even though there may be different regulations on buying property that is located in the restricted zones (50km from the coast and 100km from the border). After you have bought Mexican real estate you can start the task of letting the real estate work for you by renting it out short term or long term. Investing in vacation rentals are very popular for vacationers in Mexico and the demand is only increasing yearly. Last year there was an increase of 9% in the real estate industry for the best destinations in Mexico, and the occupancy rates are only increasing in these areas as well.

Vacation Rental Income in Mexico

Why purchase Mexican real estate for vacation rentals? One of the main reasons is the great income that you will receive. Once you have purchased Mexican real estate for vacation rentals you can advertise the rentals in Mexico at US rates, which means you will receive a stable income at a premium price, especially if you plan on renting your vacation rentals during the peak season, which in Mexico is during the winter months. You will be charging the rental in US dollars, but your maintenance, expenses, and all running costs can be paid in Mexican pesos, which means you will make a great return, even if the property appreciation is considered throughout the years.

Paying Income Tax on your Vacation Rentals in Mexico

During the past few years, any income from vacation rentals in Mexico often went unnoticed, but the new tax laws state that all property owners and investors must pay taxes on any income received from vacation rentals. You should always consult with a tax attorney in Mexico, so that you don’t get in any trouble with the law for not paying tax on vacation rentals in Mexico.

Real Estate Property that You Can Use

The real estate property that you purchase is an investment, but it is also a vacation property that you can use too. You will have an amazing vacation property in Mexico available for you that is your very own. One good thing about purchasing real estate property in Mexico is you can rent it out and get the extra income along with having a great vacation property that you can use too. Real estate for vacation rentals in Mexico is a great investment for foreigners.

Best Real Estate in Puerto Vallarta

Strategies for Finding the Best Real Estate in Puerto Vallarta and Riviera Nayarit

Discover the fail-proof strategies for finding the best real estate in Puerto Vallarta and Riviera Nayarit. Here are the top strategies that can assist you in your search for a vacation home or a full-time home that will meet all your needs.

Purchasing Real Estate at The Right Time

Purchasing real estate at the right time is beneficial when looking for the best real estate in Puerto Vallarta and Riviera Nayarit. One of the best times to purchase real estate in Puerto Vallarta and Riviera Nayarit is immediately after the peak season, because this is the time that all the snowbirds and expats return back to their home for the summer months. During this time is when real estate agents can spend more time with you and they can totally focus on finding the home that meet your needs. Also, during this time is when many properties are vacant, so your real estate agent can find several properties for you to look at in one afternoon. You will be able to see all of the properties during our rainy season, so seeing if there are leaks or mold is possible along with making sure the airflow is correct.

Hire a great real estate agent

You should hire a great and qualified real estate agent, because the real estate agent that is qualified will make sure to find properties that you are looking for that will also go along with investments. You will want your real estate agent to be upfront and honest with you about all the costs involved in buying real estate in Puerto Vallarta and Riviera Nayarit. The real estate agent should be honest about being able to provide you with a property that not only meets your needs, but that is within the price you want to spend.

Purchase a real estate in Puerto Vallarta and Riviera Nayarit within your means

Before you even start looking at real estate in Puerto Vallarta and Riviera Nayarit, you should make sure that you have the capital and funds to invest in real estate in Mexico. The majority of the properties in Mexico are generally paid in full, as mortgages carry high interest rates, although within the last several years, the number of mortgage lenders has increased offering more competition. You should also remember that if you do get a mortgage in Mexico the interest rates will be much higher than you are accustomed to in the USA, Canada or Europe.

Always remember that when you are going to purchase real estate in Puerto Vallarta and Riviera Nayarit you should always stay within your means and budget.

What are Your Expectations?

What are your expectations when you are searching for real estate in Puerto Vallarta and Riviera Nayarit? Have you been given advice by family and friends that say, “Steer clear of buying a property on or near the beach, because it is very expensive” or “Look for properties that are on the outskirts of town, because it will save you a lot of money”. What are your actual expectations as to why you want to live to Banderas Bay? You may be surprised to know that property in Puerto Vallarta and Riviera Nayarit can be very affordable. If one of your main goals is to live cheap, then you may want to look for properties that are in a less desirable neighborhood but if you really want to experience Mexico with amazing views, then you should choose properties that meet your goals and expectations. You may be pleasantly surprised to find that real estate in Puerto Vallarta and Riviera Nayarit by the sea is in within your budget.

Be Practical

You should think about how often you will be using the property before you purchase it. Will you use the property once or twice a year, or full-time? If you are planning to relocate and live in the property full-time, then the real estate in Puerto Vallarta and Riviera Nayarit you choose will reflect those circumstances; however, if you will only be using the property once or twice a year you might want to consider a fractional purchase or renting out your place when you are not there.

Rental Agents and Realtors in Mexico

Rental Agents and Realtors in Mexico

If you are planning on making Mexico your second home, then it is wise to set aside time to find out where you will be staying. It may seem like a lot of work in preparation, but it is well worth your time doing so. Often, it is a good idea to rent property before you purchase, unless you have fallen in love with a place you have found while enjoying try and buy visits to Mexico.

Rental agents and realtors in Mexico

It is not a bad idea to surf the internet to see what is posted as available rentals and properties for sale, but most people looking to stay for long periods in Mexico like to have a local realtor help them find the right property for buying or renting.

The services provided by realtors in Mexico to those looking to buy property are free because they are paid by the current owners of the property —whether selling or renting. So, it is very good sense to work with a realtor— especially if your Spanish is not good and you have limited knowledge about the location you plan to move into. If you are buying, realtors can do a lot of the busy work of negotiating for you.

A beneficial local agent will invest in time to find out what your needs are and what your budget looks like for acquiring a property. The realtor will be your spokesperson—negotiating terms, interpreting terms for you and explaining any additional information you may need.

Make sure your realtor is a member of AMPI (Asociación Mexicana de Profesionales Inmobiliarios, Ciudad de México, A.C) because this organization ensures consumer rights are protected by regulating real estate policies.

Mexico one of the Worlds Happiest Countries

What Makes Mexico one of the World’s Happiest Countries?

Did you know that Mexico is one of the world’s happiest countries? It is also a very popular place for retirees and a top choice for vacations. Mexico has more than just delicious cuisine, outdoors adventures, and the best beaches (which is what makes travelers want to come back year after year and expats move here), it has that “happy factor” we are all seeking. Want to know what makes Mexico one of the world’s happiest countries in the world? Read on…

What makes Mexico so happy?

In a recent news report published by Mexico News Daily based on data and research from the World Happiness Report, Gallup, the Happy Planet Index, and the New Economics Foundation, Mexico was celebrated as the second happiest country worldwide, with Costa Rica taking the top position. Mexico ranked way above the United States even though its economy is at least five times smaller. It would seem that the residents of Mexico may not have a lot of money, but they are certainly much happier, so money isn’t everything.

Satisfaction and wellbeing

The report speaks about how we measure our levels of satisfaction and wellbeing in terms of how comfortable, happy, and healthy we are. The surveys indicate that the residents of Mexico are generally very satisfied with their lives even when problems come their way. Having a positive outlook goes a long way to establishing our sense of happiness and worth.

Living a long life

The average life expectancy for people living in Mexico is 76.4, which is one of the highest amongst the Latin American countries and in line with statistics for many developed countries. Good life expectancy could be the result of Mexico’s affordable private healthcare service as well as state-run medical cover. Also, Mexico is recognized as being a country with relative low levels of stress, which can contribute greatly to overall health.

Affordable Living

You can live on minimal means in Mexico and still enjoy life. Even on low incomes, housing costs, utility costs, and food are affordable compared to other countries, which allows for people in Mexico to not worry so much about money.

Laid Back Atmosphere

One of the best features and benefits of living in Mexico is its laid back atmosphere. Particularly in the coastal cities, there is less stress and the vibe is one more conducive to relaxation. While the “mañana” attitude may get on your nerves when you are in a rush, you will appreciate it later when you slow down and get into the local vibe. Even when many Mexicans work six days a week, they still have plenty of time for fun, adventure, and, of course, relaxation.

Now you can see what makes Mexico one of the world’s happiest countries. There are many benefits to living in Mexico.

Living in Mexico

What to Expect when Living in Mexico

Living in Mexico is nothing compared to what you might have read, watched, or observed in a short stay there or on vacation. The real life in Mexico can only be described by a local who knows and understands its intricacies and peculiarities. This sunny southern neighbor of the United States has amazing personalities that will make you prefer to live here for a while or for life. Find out what makes living in Mexico a unique experience.

Friendly People

Mexicans as a nation are some of the friendliest people you will ever meet. Try a few words of Spanish and they will become friends for life. There is something intrinsically warm about the people in Mexico that make it an attractive choice for those looking for a place to relocate or retire.

Appreciating the important things in life

Life in Mexico is slower compared to the busy life of the United States. If you are tired of rushing around most of the time, the mellow atmosphere in Mexico can be a relief, although there are others who will get frustrated by such a relaxed atmosphere. This slower pace of life can then be both a curse and a blessing. If you find the rush of the cities unbearable Mexico provides serene places to unwind and reconnect.

Punctuality

Be warned that Mexico is not the most punctual of countries, and you may be left standing for a few minutes or more when making a plan with local Mexicans. Obviously, this is a generalization, and you will find that in business, punctuality is a key, but on the whole, you need to be prepared for tardiness. For example, if you are planning to meet your Mexican friend at 7 in the evening, be sure to let them know that you are punctual. It is not unusual otherwise for your friend to show up at 7:30 or even 8 pm. However, if you make it clear that 7 means 7, most Mexican are pretty good.

First Things First

Unlike its US counterpart, the working conditions in Mexico provide six days of work and only one day off. If you have been accustomed to the weekend off set up in the US, this work scenario might be not promising to you. Only, those living and working in Mexico for six days make the most of their time by using this day to spend for the expression of their faith, for their families, and for personal recreation. They know that these things are important and even work will not get in the way of them allocating a time each week for these.

Getting Around

The crowded streets during peak hours might be common in the United States, and even in Mexico. But in this amazing country, the roads get even merrier with all the drivers who are willing to set aside rules just to get places. Be sure to use your common sense, alertness, caution and the seatbelt while driving, and don’t assume that everyone is following the laws.

Mortgages in Mexico for Foreigners

Are there Mortgages in Mexico for Foreigners?

Are there mortgages in Mexico for foreigners? Mexico has been a growing market that provides long-term mortgage loans. Although, the long-term mortgages in Mexico are still new when they are compared to Europe, the United States, and in Canada. Foreigners can get a mortgage in Mexico as there are plenty of financing sources, but you should know that the interest rates are higher when you compare them to other countries. Are you eligible to receive a mortgage in Mexico? Continue reading to see the factors that are considered when applying for a mortgage in Mexico.

The Mortgage Industry in Mexico

The mortgage industry in Mexico is on the rise, but compared to the top world economies Mexico mortgages are still behind. For Mexican nationals, the loans are available in pesos with an average 10-12% fixed rate, which of course is much higher than in Europe, the United States, and Canada, but if you are wanting a mortgage in Mexico it’s accessible. The mortgages in Mexico provide the buyer with 90% of the value of the home, so the buyer will only have to pay 10% of the deposit and any fees that is required. The fees are usually 5%, and the mortgage can be paid over the next 20 to 25 years.

Is it Possible for Foreigners to get a Mortgage in Mexico?

It is possible for foreigners to get a mortgage in Mexico, but it isn’t an easy task. Foreigners must possess a permanent residency in Mexico and they must be employed by a Mexican company that pays into the Mexico taxes. The banks will loan foreigners the money to purchase property in Mexico and if you are a permanent resident of Mexico and you can provide income that is foreign, then you also can qualify for a mortgage in Mexico.

Foreigners can also choose a private developer financing, which can be done on a home that is being built.

Foreigners can also draw up a contract, then negotiate an agreement with the seller, so the buyer can pay for the property over time, and this type of mortgage is a short term mortgage loan, but foreigners must be aware that the short term mortgage generally requires a 50% deposit or down payment and any private loan also comes with many risks and the interest rates are very high.

The Minimum Requirements for Foreigners Wanting a Mortgage in Mexico:

  1. Mexican bank statements for the last 6 months
  2. Foreign bank statements for the last 6 months and/or Mexican employment pay slips for the last 6 months
  3. Permanent or temporary residency
  4. A birth certificate
  5. A RFC tax number
  6. A medical report and certificate for eligibility for life insurance
  7. Good credit score in Mexico or good credit score from your own country credit service
  8. Proof or address

There are plenty of mortgages in Mexico for foreigners. Foreigners should look over their options, then proceed with the mortgage that suits their needs and preferences.