In the last few years, the Mexican government has seen an increase in the number of people relocating to Mexico from around the world. Many foreigners have turned Mexico as a fabulous retirement, and when asked about why that particular geographical area, there are some common threads among the reply. There are several key reasons relocation to Mexico is becoming more popular.
A Better Quality of Life
For most countries around the world, the cost of living continues to increases. Retired individuals are on fixed incomes, and extra cost for taxes, utilities, and food makes it harder to stretch their finances. For many, moving to Mexico allows them to stretch their income much further, since taxation is still relatively low, as are the costs of basic necessities.
Better Priced Real Estate
The taxes and fees that real estate Mexico properties offer are much lower than what homeowners would be paying in Canada, Europe, and the United States. It is becoming too expensive for most retirees to make a permanent home purchase or afford their current mortgage once their income is reduced to retirement funds. Not only are the property taxes lower, but the costs for maintenance and labor also more affordable.
An Amazing Climate
There are several different climate zones in Mexico, which means there is a place for every preference. You can find a year-round temperate climate in the central highland areas. If you prefer warm to hot weather, settling down along many of the coasting miles will be the choice for you. Contrary to what you find in the U.S., coastal property is highly affordable. For those who would rather have cool temperatures throughout all 12 months of the year, moving into the mountain highlands will be a good choice. There is a place for everyone, regardless of which part of the world you are from.
A fixed income and the increased medical care potentially needed when retired aren’t two things that fit together well. Healthcare costs in the U.S. and around the world are outrageous, especially for those with limited incomes. Many people look abroad for treatments and medications, with many turning an eye to Mexico. The cost of residential care in Mexico is between $500-$1,500 a month, which is significantly lower than the average U.S. costs of $5,000-$6,000. Affordability of routine medical care, medications, and specialty services are a key draw to retirees.
Though not for everyone, Mexico is growing in popularity for those heading into retirement. The beautiful and accommodating environment, plus the financial benefits, make it an ideal place to settle down when you are ready to enjoy your golden years.