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Planning for Playa del Carmen Retirement - Ownership Options

Thomas Lloyd,  Broker By Thomas Lloyd

If you are planning ahead for your Playa del Carmen retirement, there are number of methods of property ownership you can use to help you make this purchase financially feasible. The following are a few to consider.


Mortgage – For the past few years, mortgages have been available from Mexican banks, such as Scotiabank Mexico. The advantages and disadvantages are just about the same as back home, but banks here require higher credit scores, more paper work, and a longer times for the qualification process. The advantage is that it allows to buy with financing, while leaving your home equity back in the U.S. or Canada in tact.


Seller/Developer Financing – This is an easier process, and sometimes there is little or no interest. These are, however, short term plans. It is necessary to use a "bank trust in guarantee" to make this official, giving you legal ownership of the property before paying out large amounts of cash.


Income from Rental – After obtaining a property, whether by mortgage or in cash, you can rent out the property to cover expenses and even see an investment return, helping to build up your retirement savings. If you are going to use the property part time, you should consider vacation rentals, and plan your visits during low seasons. A property walking distance to the beach or near Fifth Avenue, the main tourist street, is best for vacation rental. If you are not going to use the property, long term rental is another option, which brings lower monthly income, but is more consistent.

Related: The Advantages of Buying a Vacation Home in Paradise 

Buying a second Property – There are a few examples of owners who have gained enough income from their first condo to put this towards acquiring a second. This means that when retirement comes, not only will their savings be in tact, but they will have an ongoing income to increase their lifestyle. This option takes a fairly high amount of dedication and financial discipline, but is entirely feasible.


On the whole Playa del Carmen retirement will allow you to live less expensively. Just about everything, from food in the grocery store to property taxes and utility bills tend to be very low. High-quality health care and large ticket purchases will also show substantial savings, often over 50% of the cost of the same product in the U.S. Being able to incorporate your Playa del Carmen property purchase into a feasible financial plan like the one's mentioned above will help you enjoy your retirement savings to their fullest.

related: How to Save Money through Mexico Retirement; The Cost of Living 

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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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