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Mexico- Expats Pack Up and Move to Mexico?

Objective news regarding Mexico Real Estate

By MoveMike

Could You Pack Up And Move?

In March I posted about Ex-Pats In Mexico. No one knows how many citizens of the U.S. have moved to Mexico, "howerver, combining host-country with US census information, it is clear that citizens over 50 are a growing number in the exodus."

Many of the factors credited with the accelerated exodus of US citizens to Mexico and the Panama include rising taxes, reduced reliability on pensions, increased medical costs, and the desire for a more active lifestyle at a lower cost.
Recently, according to a report written by Tom Kelly in The Concrete Producer Online, housing sales in Mexico as in the United States are down, but Mexican developers are making it very attractive and easy to buy condos in tourist areas. For example,
a Puerto Vallarta-based marketing company operated by Mexico City native Benjamin Beja offers affordable, well-located, attractive condominiums starting at $145,000 along with elegant waterfront residences with price tags well over $1 million on the Bay of Banderas, one of Mexico's most popular tourist destinations.

The downpayment programs at two developments are extremely flexible, especially for investors. While the minimum downpayment is 20 percent, MexicoAlive will accept $9,000 at signing and then the difference in monthly payments, interest free, until the buildings open. For example, if a buyer decides on a $140,000 unit, the 20- percent downpayment would equal $28,000. After the $9,000 at signing, the buyer would make payments of about $1,000 for 17 months.

Then just a mortgage of 112,000 and it's all yours.

I'm one of those who could pack up and move, especially after the cold and wet spring we've experienced in Portland, Oregon.

Published Saturday, May 31, 2008 8:50 AM by Zinnia Q.


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