Snowbirds arrive to the Riviera Maya between the months of October-November and most of them stay around until around March-April before going back home. Approximate 50,000 snowbirds arrive in Mexico every year, looking for milder winters, lower costs of living and a well-deserved holiday.
With cost of living, services and taxes going up in their home countries, many chose to cut costs by moving south of the border for part of the year. It is estimated that a snowbird would spend around 2,000 USD a month, which doesn’t seem like much; but piles to more than $ 400 USD million this season, excluding the acquisition of property.
We believe the amount is going to keep rising, according to the Mexican association of retirees (AMAR) this numbers are going to increase a 25-30% in the next 5 years. This gives us an estimate of 65,000 snow birds every year and an economic benefit of around 520 million USD.
Snowbirds moving to the Riviera Maya: Important Considerations
This is an important matter for many, what if i get sick? What if I need an emergency procedure? What if I have an accident? It is important to research and have different options to make sure you have the right coverage.
The cost for regular doctor visit or check-up ranges from 3 USD at Farmacia Similares with a general doctor to 100 USD at a modern American style hospital with a specialist.
It is also important to have traveler’s insurance in case of an emergency or shop around with a Mexican insurance agent for a Seguro de Gastos Médicos Mayores*, this insurance will cover an accident, surgery, ambulance or medical transportation and catastrophic illnesses such as cancer.
Investing in a property
Real estate properties in Mexico are great investment for snowbirds. The snowbird can rent out their property when they are not using it; allowing you to get a return on your investment. Many properties have on-site administrators and offer vacation rental programs. They will assist you in renting your property out, checking guests in and out and getting your property ready for the next guest, making this a hassle free investment. Investing in a property overseas can be a big step, so make sure you have a qualified real estate agent that will walk you through the process. Ask your agent for their credentials and for testimonials from past clients.
Top Mexico Now if you have any question about this or any of the TOP MEXICO REAL ESTATE properties we have listed in Playa Del Carmen, The Riviera Maya or anywhere throughout Mexico, please feel free to contact any of our TOP MEXICO EXPERT SALES TEAM and we will be glad to help you find your very own piece of paradise.
And remember, here at TOP MEXICO REAL ESTATE…
We make it happen!
We would like to thank Hacienda del Rio for sponsoring this blog. Hacienda del Rio is a new development in El Cielo. To learn more about Hacienda del Rio, please click here.