For the past 40 years, Americans have voted Mexico as the #1 place to retire or live the life that truly matters.
The country is home to at least 1 million Americans and as many as 2,000,000, depending on the survey. This shouldn’t be surprising. It is easier for Americans to travel to Mexico than any other country, other than Canada.
Why is it that Americans prefer to travel south of the Rio Grande to the Great White North?
Americans who are looking to move abroad and start a new life seek out three things: beautiful beaches, warm weather, and low living costs. Mexico is a strong competitor in each of these categories.
Buying property in Mexico offers many great living options. There are colorful colonial cities such as San Miguel de Allende and Guanajuato and Oaxaca. There are also beach towns such as Playa del Carmen (on the Caribbean coast), Puerto Vallarta (on the Pacific), and Mazatlan (in Mexico).
Although the cost of living here isn’t as affordable as it was when Americans first began to migrate here in large numbers in the 1970s, it’s still a bargain and a delight for budgeters thanks to the strength of the U.S. Dollar against the Mexican peso.
This can lead to incredible real estate deals in some areas of the country. Even though real estate is traded in U.S. Dollars (as it does on many Mexican markets), everything else can be bought in dollars. This includes a liter of gasoline, a week’s worth of grocery shopping, a suite of bedroom furniture, and a night out on town. For less than 50 dollars, two can dine five stars and enjoy three courses with good wine.
Seven reasons to seriously consider retiring in Mexico
1. The Country is Familiar
From its administrative setup (the Mexican government functions in a stable democracy with the executive, legislative and judicial branches working similarly to those in America) to its large-footprint shopping.
Mexico is a great place to go if you are looking for adventure in a country that is not too far from home.
2. It’s easy to go back and forth, making it a top choice for part-time living
You can drive down as many times as you want without worrying about the cost of your flight or any associated hassles.
3. English is widely spoken
Many Mexicans speak English because of all the attention they get from North Americans, both tourists, and ex-pats. This can make it easier to navigate the immigration office’s residency process and manage the real estate buying process with your attorney.
4. Markets for Property Markets that are Undervalued
Some property markets, particularly those in second-home markets that are most popular with Americans, have experienced an increase in value over the past two years of the pandemic… while others remain undervalued. You still have a buyer’s advantage in some areas.
5. Easy and Fast Immigration
You can travel to the country with ease and speed thanks to six-month automatic tourist stays and quick immigration. It’s possible to have a second residence here, which you can rent out when you aren’t using it.
6. It’s hassle-free
It can be as easy as international moves to Mexico. It’s easy to load up a truck and drive south. Gas and tolls could make up the bulk of your moving expenses.
7. To use Medicare, you can go back to the States
It is possible to easily return to the United States to access Medicare. This move is ideal for retirees who want to access Medicare. This can be Mexico’s greatest advantage if you are a retired person nearing or above the age of 65. Mexico has excellent healthcare, but Medicare will not pay for it. With limited exceptions, Medicare does not cross any border. You can access your benefits if you are a Mexican retiree.
This means that you will continue to pay Medicare and any other health insurance. This strategy can be very beneficial for Medicare-eligible retirees who want to move abroad as a safety net.