While planning your Mexico retirement in La Paz, you’ll need to make several important choices; one of these is whether to by La Paz real estate or to take a Mexico rental. The choice depends largely on your needs. The following are some advantages of each to help you decide.
Owning La Paz Real Estate
- The Property is Yours – There’s something to be said for having your own condo or home; you can redecorate with more liberty, landscape (landscape experimentation and gardening are possible all year round in La Paz) and even modify the property if you so wish. What’s more it’s just that feeling that it’s yours. For many buyers, this is in itself is motivation enough to buy.
- Prices are Excellent – Condos, lots and even individual homes are available at excellent prices. Owning property so close to a beautiful beach in a year-round warm weather, with excellent services nearby is not common – anywhere.
- You Can Generate Return on Investment – If you own your own property, and you are not using it all year round, you can be the one renting it out to vacationers and generate income. There are also excellent investment properties in locations which are promising in terms of value increase. In short, if you are the owner, you have the financial benefits of any investment potential.
- You Can Change Properties More Readily – If you are only in La Paz for retirement part time, or if you decide you prefer another location or property, you can change more readily if you are a renter. There are good locations and nice properties to choose from on the rental market.
- Pay As You Need It – Likewise, if you spend only part of the year in La Paz, you are paying for the rent only when you are there using the property. This is a more hands-off approach, giving you less responsibility for taking care of a property and investing.
- Rent While You Search – A final option to consider is to combine the two - i.e. rent while you search for properties. This means that you can enjoy the flexibility of renting while you take your time to search carefully and find that property that is just right for what you need.
Working with an agency in La Paz that manages both purchases and rentals can help since they will be able to help you find which option is the best for your needs or combine them in the way most ideal.
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