If you've ever dreamed of living on the beachfront, but think your economic resources can cover that luxury, here's good news for you; buying a Playa del Carmen or Cancun condo can actually make it possible for you to earn money and live in Mexico.
Making a real estate investment that will allow you to enjoy life on the beach at the same time would be an ideal combination for us. Consider this fact; a Playa del Carmen condo, only a short walk from the beach (5 small blocks) can be found for around $180,000 USD. A condo like this would include a pool, a lounge area, and walking access not only to Playa del Carmen's best restaurants, bars and nightlife, but also to conveniences like Walmart. This properties would be prime for vacation rentals, presenting an affordable alternative for vacationers (compared to most hotels) while still bringing you a considerable income.
Because of the existence of high-rise buildings in Cancun (Playa del Carmen doesn't allow for building higher than 4 storeys), condominiums in the hotel area can be found for even less than this, down closer to $100,000. Such a condo could also bring an excellent income.
If you don't have the cash to put up for this purchase straight up, mortgages through Mexican banks are becoming more and more common, with usually 25-30% down. The rental income from vacations would vary from high to low season, but on average would more than cover the monthly payments.
Whether buying in cash, or through a mortgage, you would be able to enjoy your condo during the off season as your own vacation property, and, more importantly, at some point you would be ready to invest in a second unit. By the time retirement rolls around, or even sooner, depending on how much you can invest to begin with, you can enjoy a comfortable life on the beach, heavily supplementing your savings with income from rentals.
There are many other ways to invest and earn money in Mexico. In any case, funds go considerably further in Mexico than in the U.S. or Canada, and you will be able to live more comfortably on less. Living in Mexico on the beach is possible, and investing in condos may be the key to the relaxing retirement you deserve, perhaps even before the age you thought.
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"
Region: Playa del Carmen real estate.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.
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