By Freda Rumford from the March 2012 Edition
In the meantime, those of us already in Mexico are all enjoying the beaches, the warmth of the Mexican welcome as well as the unseasonably cold weather this year. The latter does not detract from our pleasure and most of us can still sit around the pool even though they may be just a little cool to jump into.
What the continuing bad press and calls for extreme caution is doing, is actually deterring holiday makers from venturing south and people looking for retirement homes from considering Mexico as a haven from the annual northern chills. Is this a deliberate move by governments to stop people from spending money outside of the northern countries, namely Canada and the United States? Certainly the other constant bad news of job loss, pension schemes floundering or going broke and an unstable domestic housing market does not make for ease of mind in making an out of country purchase. Here, in Manzanillo, where we all feel safer than in our home towns, there are absolutely tremendous bargains to be had.
North American’s principal reason to sell their condos south of the border is because their prior needs have changed. Now they want to move to single family housing where their pet can run in the garden rather than the patio. Their families are growing older and with fond memories of holidays in Manzanillo now want to either visit more often or buy their own eventual retirement property.
Currently the buys here are just phenomenal. Beautiful homes of all descriptions are available at prices way below those to be found in the north even in the depressed market. A two suite condo with golf course views and grounds boasting 6 large swimming pools is available for under $200,000. Another similarly appointed and overlooking beautiful Manzanillo Bay is very little more, just under $220,000 and single homes range from a little over $100,000 in safe Mexican neighbourhoods to large secure estate homes of $1000, 0000 plus. In many areas a single lot ranges from $25,000 depending on view, convenience and gated communities with security.
Naturally, those on the beach are more expensive but as all beaches are easily accessible from anywhere in town, not the only good choice available.
Wondering whether to leap or wait? The old saying “strike while the iron in hot” has never been better advice than right now. Why wait until prices start to rise, as they will, after the U.S elections of this next November. Can’t afford one on your own? Join with friends and have a shared ownership arrangement. By forming a limited company this is possible and an extremely good way of easing into the good life.