When planning to retire in Mexico, more and more Americans are now looking for cheap Mexico real estate, to go along with the affordable cost of living in this country, helping to balance the ever tighter budgets we're faced with. But when buying low-priced property, it is necessary to take be that much more careful in choosing a property and location that has good potential for retirement needs.
These are some of the points buyers can look for in an affordable Mexico property to evaluate its suitability.
Access. How many stories in the property? While at the time, stair might not be much of a problem, having a 3 story home in the future may just be too tiring. One short flight of stairs may be OK. If it's a condo, is there an elevator heading up to your floor or the rooftop lounge area?
Potential. If you still have a few years left before the big day comes, don't shy away from a project. Talk to your broker about inspections, etc. to help you choose the cheap property with most potential for improvement. Another kind of potential to consider is rental potential. Some low-priced condos can do well for long-term rental, helping bring an income while waiting for retirement to arrive.
Green Space. Especially when looking for affordable real estate, looking for a large property may not be necessary (although some fairly large fixer-uppers can be found for low prices.) But if the property is small, you will probably want green space and nice common areas, which could included cafes and pedestrian streets, within a very short walking distance. Condo complex common areas are also worth evaluating.
Walking Distance. Being walking distance to amenities – grocery stores, pharmacies, bakeries, etc. - is convenient and an easy way to keep healthy. Taxis are cheap in Mexico, so if you're ever not in the mood for walking, a very low priced taxi ride will get you home quickly. This can also help cut down bills on transportation expenses. Having a very low priced property in a location where you end up spending a fortune on transportation may not be financially convenient. Think about features you like in your community, as well as features you will need as a retiree, and choose a property location accordingly.
Retirement-Friendly Services. While not all have to be within walking distance, the town or city you choose should have a good variety of services that will make a retirement lifestyle easier. Large club-styl stores and good hospitals are examples of services that you may need only once in a while, so they can be a little farther; but it's good to have them around. Some cities with very well-priced properties are investing in retirement-specific health clinics.
While you may think that asking for all of this together, it will be hard to find a low-priced property; however, it is surprising what's available for low prices when a buyer is focused on their real needs. Consider the option of cheap real estate in Mexico for your retirement; it could be the key to a comfortable retirement at a very accessible price.
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely