One day, you’re graduating from college and landing that ideal job. Still, before you know it, you are applying for retirement benefits. Time seems to fly by with a blink of the eye. No more hitting the snooze button at 5 o’clock in the morning to squeeze out that extra minute of sleep. No more dealing with the treacherous drive through rush hour traffic to and from work. The kids are grown up with families of their own, and you’re ready to start downsizing. Doing research in places that offer great climate, beautiful landscape, and affordable cost of living, Mexico’s cost catches your attention.
After putting your needs and wants down on paper, all the dots seem to point to one place, and that again in Mexico. If you put it into perspective, it is actually a perfect choice and especially if you live in North America. Mexico has the benefit of being just hours away from your home and, at the same time, being far enough away from everyday life. But there are many other benefits as well. The paragraphs below will outline why having a home in Mexico will reduce your cost of living and, at the same time, create an enjoyable lifestyle.Â
Finding a Home
The first step in securing a new life in paradise is to find a place where you can call home or a home-away-from-home. One of the more popular destinations in Mexico is the Riviera Maya. From Cancun to Tulum, there are a variety of towns and communities to choose from. The real estate market for homes, condos, and undeveloped land in the Riviera Maya have not seen prices this low for years. No matter if you want to be right downtown, steps away from the beach, or in a golfing community, the time to buy is now. You won’t find deals like this anywhere else that offers the same convenient locations and amenities.Â
Day Trips & EntertainmentÂ
Now that you have chosen your ideal home, how about taking some well-deserved time to see the sights. When people retire, they want to go out more and explore new places. Several Adventure Parks offer zip lining from tree-to-tree, taking ATV tours through the jungle, horseback riding on the beach, and other exciting activities. Why not spend the day snorkeling or diving in a freshwater cenote. Take a day trip to one of the many Mayan Ruins or other archeological sites. Many of these attractions include all-inclusive plans like food – drink – transportation at an affordable price.
Relaxing on a Beach
Wanting to spend a day hanging on the beach? There are plenty of places to choose from. Depending on where your home is located, you could be minutes away from the white-sand beaches. However, if wanting to experience other locations, you can do this on a shoestring budget. For a few pesos, take a colectivo, or for a few dollars, enjoy a taxi. Once you arrive at your destination, there might be a small fee to enter. But it’s usually refunded if you buy food or drink during your stay. The restaurants offer very affordable snacks, meals, and beverages. Some even provide beachfront chairs and tables at little to no charge.
Dining OutÂ
I bet dining out used to be an expensive outing that could only be done on a rare or special occasion. That is a thing of the past. Not only does Mexico have some of the world’s most favorable cuisine, but at an affordable price. No matter if you are dining at a 5-star restaurant, beachside grill, or curbside vendor, your tab will be a lot less than most restaurants back home. And guess what? You won’t have to sacrifice quality or freshness. Enjoy a rooftop view or the ambiance of being on the beach. It won’t break the bank! The same for having a handcrafted drink, beer, or a glass of wine.
Shopping Opportunities
There really is little to no physical differences between shopping back home and in Mexico. There are plenty of stores to get your groceries, clothing, electronics, hardware, and other miscellaneous items. The apparent differences are that some labels are foreign, pricing is in pesos, and quantities are in liters and kilos. You will also find that vegetables, meats, seafood, and dairy products are mostly organic. The most noticeable difference will be the price. Spending less on groceries can be a significant contributor to lowering your living expenses.
Buying PowerÂ
You might think your US or Canadian dollar doesn’t go that far, but that’s not Mexico’s case. With real estate at extraordinary prices, inexpensive entertainment, and shopping bargains around every corner, you ask yourself, “how can this get any better?” The dollar to the peso exchange rate will add even more savings. This benefit alone will put extra dollars in your pocket every month. If you use a credit card to purchase products and services, several card companies don’t charge international fees and give premium exchange rates. Utilizing these two financial advantages can lower your living expenses even more.
Let’s recap some of the particulars that make the cost of living in Mexico an affordable choice.Â
- Your housing expense usually takes a large chunk of your monthly budget. Purchasing your ideal home in Mexico can cost 30, 40, or even 50 percent less than in America or Canada. Investing in a Mexico property will free up funds to do other exciting activities.
- Going out and experiencing the many restaurants around town can be a frequent event. Enjoy a nice breakfast at a local café, grab a bite to eat at one of the curbside stands, or have a fabulous dinner on the beach. The cost of eating out can be up to fifty percent less than back home.
- Transportation around the Riviera Maya is exceptionally inexpensive. Taxis are cheaper than Uber or Lift. Colectivos travel from town-to-town for less than a dollar, and luxury buses take you all over the Yucatan for less than you think. You really don’t need the expense of a personal vehicle.
- Staying on budget for daily entertainment can be achieved by taking advantage of several inexpensive options. For example, fill a cooler with your favorite beverage and snacks and go to the beach or a local park to enjoy local entertainment. This will cost little to no money. Â
- Converting your US or Canadian dollars to local currency can stretch your buying power well into double digits. Simply put, “Take dollars and pay in Pesos.”Â
With all this in mind…
Why wouldn’t you consider retiring or at least spending some quality time in Mexico? We have yet to mention the perfect year-round weather, the beautiful white sand beaches, the sparkling Caribbean turquoise water, and Mexico’s welcoming culture. Imagine yourself waking up in the morning relaxed and not having a worry in the world. You take a moment and think, “How do I want to spend my day in paradise?” Do I play a round of golf, spend the day at the beach or take a day trip? “The low cost of living in Mexico can provide all the freedom you will ever need!”
Remember, at Top Mexico Real Estate… we make it happen!