For Canadians who are retired, or are currently planning their retirement, Cancun Real Estate and Playa del Carmen Real Estate currently presents one of the most ideal choices. Besides warm weather all year round, and life next to one the world's most beautiful beaches, a Mexico Condo and other retirement property purchases in this area have recently become an even more attractive retirement option because of the strength that the Canadian dollar has recently been gaining on the American dollar. And, while this fact makes both beautiful properties and day to day life more realistic in any retirement budget, Cancun and Playa del Carmen also offer a lifestyle excellent for an active but relaxing retirement.
Many Canadians are already familiar with Mexico's Caribbean coast - the stretch of beautiful beachfront developments, especially famous for Cancun and Playa del Carmen, stretching down to Tulum's ancient pyramid site a bit more than 100 km away - if not by visiting, you've at least seen pictures of the beautiful white beaches and turquoise blue ocean (the pictures do not do justice to reality.) Imagine retiring next to these beaches, with warm weather all year round, living in a city that blends all the modern conveniences you are used to with Mexico's rich cultural heritage? This is what a Mexico retirement in Mexico's Caribbean - Cancun, Playa del Carmen and Tulum - is all about; what's more at an excellent price.
While life in Mexico has always offered a more affordable real estate and lifestyle, the recent strength of the Canadian dollar has made this affordability even greater, meaning that retirement savings will stretch farther. A very important consideration in retiring is finding an ideal retirement property, and being able to find an ideal property in an excellent location for a good price early is definitely a huge advantage.
To start, it is important to consider how the Canadian dollar has risen in value over the years. Only about 6 years ago, the dollar had been hovering at a low point around 65 cents U.S for years. The mid 2000's saw the value rise, passing the U.S dollar just before the recession, then dropping back down to about 80 cents U.S, where it was sitting in December 2008. Over the last year the dollar has seen a steady rise to about 95 cents, and has been up and down between 94 and 96 for a couple of months now. If we compare a property Canadians could buy in 2003 to what Canadians can buy now, the difference is impressive. For example, if you could have afforded a $300,000 US (about $460,000 CDN) condo in 2003, those same $460,000 CDN would now get you a condo worth almost $440,000 US. Since real estate in Cancun and Playa del Carmen is sold in US dollars, this means you can now afford a condo (or a house, if you're leaning that way) considerably larger, with more luxuries, or in better location. On the other hand, you could buy a property worth the same as what you could afford in 2003, and have almost $150,000 CDN more in retirement savings. And when you're retiring in Mexico, that much goes a long way. Of course, there are properties in Cancun or Playa del Carmen available for many other budgets, either lower or higher. The same concept applies, in any case.
Why buy a retirement property in Mexico's Caribbean coast? For most people, the choice between white beaches or white snow is enough; too many Canadian winters makes warm weather all year very attractive. With the recession nearing its end, Canada's housing prices have been pushed way up by high competition among buyers. The average home price in Canada is around $360,000 these days. While you can get something worthwhile for that price, this price is for an AVERAGE house, and no matter how much you pay, it doesn't get rid of the snow. Now imagine in Playa del Carmen; for about that price you can buy a luxury condo, in a low-rise European style building, only a block away from the beach. A penthouse would be only about 3 blocks away. A beautiful house in Playacar, an exclusive golf neighbourhood, in this price range is, again, only a few minutes away from the beachfront. If you're interested in Cancun, the city's high rise condos offer beautiful units right on the beach in this price range.
While the cost of living is also considerably cheaper, and is even more so with the strong Canadian dollar, the quality of life, is, if anything, a few steps up. Besides the warm weather and beautiful beaches, the area is quickly becoming known for golf, with several golf courses already existing, and 6 new ones under construction. Events, such as the recent Riviera Maya Jazz Festival, add variety to day to day life. Products, services and infrastructure, such as health care, are also top notch, meeting international standards. All of this, again, available much cheaper with the buying power Canadian retirees currently have in Mexico.
Many other Canadians, Americans and Europeans have already decided to make Cancun or Playa del Carmen their home; so, when you take the step, and begin planning for your retirement on the beachfront, you can be confident that you'll have plenty of neighbours from back home to share it with.
TOPMexicoRealEstate NETWORK; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
