Why is it a good idea to invest and retire in the Mayan Riviera?
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BY LEAH T. SAKATA
INVEST
Beat the Winter Blues
INVEST IN RIVIERA MAYA | I indeed asked myself that question prior to deciding to live in Playa del Carmen for half the year.
Well, the first point of consideration at least for me anyway and many other Canadians who have decided to be snow birds, is frankly the frigid and depressing winters.
When you suffer from S.A.D. and Raynaud’s Syndrome like I do, getting my vitamin D3 is essential and I prefer not to have to take it in pill form. Simply put, I am allergic to winter.
Simplify your Life
One of the major reasons I decided to spend more time in Mexico was to simplify my life and begin my retirement plan sooner.
Instead of remaining stuck in the rhetoric of thinking that I have to wait until the official retirement age of 65 to bust a move, in my early forties I started to let go of ‘stuff’ that at one point in my life, I was convinced that I needed to somehow feel a sense of accomplishment.
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I too begin downgrading from what I once thought were necessities like a luxury automobile that at one point I had to have because the salesperson had somehow got into my psyche and convinced that my clients would take me more seriously.
Well, at least it was crossed off my bucket list and I can’t say that I didn’t enjoy blasting my favourite tunes on Satellite Radio as I cruised down the highway as I went from one expensive home to another to tutor and coach my students at the time and a certain amount of pride as I pulled up in front of my client’s homes.
Essentially, I knew that having all of these added expenses was definitely not going to get me where I really wanted to be. So, I always ask, what are you willing to sacrifice in order to get where you truly want to be in life?
And when I say this, I’m talking about living a life that is not dictated by the dogmas of society, what we think our friends and families expect from us or old stories that are holding us back from the life we really want.
Cost Effectiveness
Let’s also consider the costs of living in Vancouver, versus the Mayan Riviera. Even though, the Mexican Caribbean is less economical than other parts of Mexico, speaking from personal experience, I am able to live more simply and cost effectively in many respects.
First and foremost, the cost of food, the vein of my existence, is a significant amount lower. I can purchase 6 bags of groceries in Playa del Carmen for the price of two in Vancouver and often the contents is more substantial.
According to the site numbeo.com, grocery prices are 107.37% higher than in Playa del Carmen.
Furthermore, “you would need around $ 92,167.67 MXN (6, 565.20) in Vancouver to maintain the standard of life that you can have with 43,000 MXN (3,062.00 CDN) in Playa del Carmen.
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I can definitely vouch for that as my expenses as a single person used to be in that range. I was constantly stressed out and on the gerbil wheel until I finally and gladly decided to hop off. It’s frankly the best decision I’ve ever made!
The cost of purchasing a home is clearly a significant amount cheaper in the Mexican Caribbean than in Vancouver and the payment plans and financing options that are now available to foreigners.
Through select properties, make owning property in Playa del Carmen and the Maya Riviera in general much easier than ever before.
Why is it a good idea to invest and retire in the Mayan Riviera?
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Frankly, I’ve had some issues to get over around homeownership and especially in Canada.
As I’ve always found it curious and incredible that people will work themselves to the bone just to be able to have an overpriced dwelling that for the most part, they’ll be paying for for the rest of their lives.
Yeah, the word “mortgage” has the word “mort” in it and in French, signifies death. Yes, essentially many Canadians and particularly Vancouverites will be paying for the home of their ‘dreams’ until they die.
The Financial Post reported the following in July 2018:
“Housing affordability in Greater Vancouver reached a “crisis level” in the first quarter, with additional interest rate hikes expected to take another bite out of Canadian housing affordability in the months to come, says an RBC report.
The share of household income required to cover mortgage payments, property taxes and utilities in the Greater Vancouver Area reached a record high of 87.8 per cent in the first quarter, rising 1.5 percentage points from the fourth quarter and up 9.5 per cent from the prior year.
“And things could get worse if — or when — interest rates rise further,” said the report by RBC chief economist Craig Wright and senior economist Robert Hogue.
I don’t know about you but I’d far prefer to be mortgage free within a 3 to 5 year period and still afford a lifestyle than be paying for a home for the rest of my life with accompanying stress levels through the roof.
Investment Opportunities and Return on Investment
Many developments in the Mayan Riviera offer what is called plusvalía or added which include the area in which the property itself is found, the modern conveniences in the vicinity, proximity to the water, amenities, security and overall, lifestyle.
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It’s very important to keep these factors in mind when purchasing a home as the return on your investment will indeed be greater.
Over the long term and put you in a better position to sell your property if you so decide.
There are others developments that offer the opportunity to gain an average of 6 to 8 percent return on investment for a fixed period of time.
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Be sure to read the fine print in this regard and make sure you know what you’re signing.
Keep in mind that in order to obtain your ROI, you won’t be able to occupy your unit for the period of time that your contract states as it will solely be for investment purposes.
When you think about your money sitting in a bank account in Canada accruing a measly 2 percent or less, putting your money in to Mexican real estate in the long run, will give you a far better rate of return.
Why is it a good idea to invest and retire in the Mayan Riviera?
You could choose to live in your residence in the Mexican Caribbean for part of the year and rent it out for the remainder or have exclusive rental properties.
Your realtor can discuss these options with you and custom design a plan that is suited to your retirement needs.
The Bienes Raices Quintana Roo team of experts will help you to purchase your Playa del Carmen condo, Tulum villa or house on the beach.
Healthy Living
I have to be completely honest in saying that I am healthier when I’m living in a tropical climate and speaking Spanish is an added bonus that frankly, makes me a better person.
What I mean by this is that my experiences here have been so humbling and having studied Spanish for many years.
I feel as though my entire being softens and an overwhelming sense of inner peace overcomes me.
It´s time to invest in Riviera Maya
Having quick access to the Caribbean Sea, tropical breezes, constant sunshine, fresh produce at affordable prices.
A large variety of economical restaurants and a wonderful community are all components of a healthy lifestyle.
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I find myself waking up in Playa del Carmen with constant permagrin.
A spring in my step and a sense of profound joy that has nothing to do with artificial stimulus that if often found in major, modern cities in North America.
Yes, healthy living signifies more than obsessively exercising, taking your vitamins and downing your daily wheatgrass shots.
Personally, it’s about being in an environment that is conducive to your overall well being that is communal and welcoming with a high level of vibration and infinite soul.
Mexico and Latin America for me, represents all of that and more.
The Mayan Riviera is Still Ripe for Growth
Yes, indeed. Properties and land for purchase are found in abundance in the Mexican Caribbean and at affordable prices, especially for the foreign buyer.
As mentioned, there are particular developers who offer financing and payments programs that are very affordable, offering the no interest for 36 to 48 months which is a very attractive option.
Imagine being able to own your home within a 3 year period?
For the average Canadian or American, this is not simply not possible unless we come from a lineage of wealthy ancestry or lucky enough to earn quick cash from a lottery windfall.
Are you foreigner and you want to invest in Riviera Maya?
With an increase in flights from different parts of the globe, this multicultural hub welcomed 11, 481,800 visitors between January and November in 2019.
Essentially, the number of visitors increased by 8.3 % between 2017 and 2019.
It is clear that this is a very popular tourist destination and the likelihood of your investment in real estate in Playa del Carmen, Tulum, Akumal, Puerto Morelos, Puerto Aventuras will continue to pay dividends for years to come.
In conclusion, invest, live, enjoy the Mayan Riviera.
Meanwhile plan your trip, we see you soon in paradise.
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