WITH AN ESTIMATED COST OF LIVING THAT IS 30 PERCENT LESS THAN IN THE STATES, BUDGET-CONCIOUS HOMEBUYERS ARE LOOKING SOUTH TO MEXICO
CALAFIA, Baja California – Early retirement, a lower cost of living and being able to maintain your lifestyle while watching your wallet are all reasons why American buyers have turned to Mexican real estate especially in our struggling economy, said Max Katz, sales director at Calafia Condos Resort and Villas, a new community in Baja California. Once considered to be a well-kept secret, the significantly lower cost of living in Mexico paired with great home values are attracting Americans south of the border who want a great home and a rich lifestyle at a fraction of the cost.
Overall, the cost of living in Mexico is about 30 percent less than in the U.S., he said.
“Golf here is cheaper than compared to the U.S.,” said Bob Dawson who moved to Mexico 13 years ago with his wife Carol. “The food is good too. In fact, just the other day I bought a delicious thick rib eye steak for only $5. Ocean fishing here is excellent and it is quite easy and cheap to rent a boat for a day excursion.”
The Dawsons moved to Mexico 13 years ago so that Bob could retire five years sooner. They now own a home at Calafia Condos Resort and Villas, which is only 30 minutes south of the international border. The favorite part of their home is the great ocean view and they can even watch whales migrating from the balcony.
The Dawsons lived in Orange County, Calif., before moving to Baja, and Bob says he still frequently visits family in San Diego and that his wife goes back across the border once a week.
Beth and Heni Suri are another American couple who moved to Mexico to enjoy the affordable lifesyle. The Suris also contemplated on buying in Costa Rica before ultimately deciding on Baja California.
“We chose Baja because of the great lifestyle and the fact that we are still close to friends and family,” said Heni Suri. “We bought a home with an ocean view at a third of the price of what you would get in California.”
The value of Mexican real estate for the estimated 76 million Americans expected to retire in the next 10 years may be like gold to a miner. According to a study released recently by Americans for Secure Retirement, the next wave of retirees will have a higher risk of outliving their financial assets and will have to reduce their standard of living significantly. For those looking to maintain their standard of living well into their silver years, the answer might be in Mexico.
Ron and Gail Coronato of Carefree, Ariz., both 62 years old, are one such couple who wasn’t able to afford a beach home in the U.S. so instead looked to purchase in Baja California.
They went to every single condo project in the Rosarito, Mexico area and finally purchased at Calafia Condos Resort and Villas where beach-front housing is available at an affordable $298,000 for a two-bedroom condominium to $650,000 for a 15th-floor penthouse.
“I saw Calafia and just fell in love with the rugged coastline and the way the beautiful white waves break on the black rock cliffs steps from the Calafia resort,” Gail Coronato said. “From the kitchen to the dining room all you see is ocean views. We often walk to the hotel where they have a spa, shops and dining.”
Mexico’s strong currency, tax benefits and property taxes starting as low as $120 a year, added with the minimal cost of living, creates the optimal situation for upholding a standard of living that is simply no longer available in the U.S.
According to Katz, construction at Calafia Condos’ Tower III moved along smoothly despite the economic struggles Mexico experienced as a result of the U.S. recession.
“I am thrilled to see people coming made every day to tour Calafia. The views nicely capture the beauty and tranquility of the ocean,” said Katz.
Calafia Condos Resort and Villas is a resort beach community on the Pacific coast of Baja California guarded by 24-hour security. Just south of the historic city of Rosarito Beach and only 30 minutes south of the San Diego border, the nearby town of Calafia is home to charming shops, restaurants, clubs, art galleries, golf courses and more. And Baja’s famed wine country is only a 15-minute drive away.
Calafia Condos, Resort and Villas provides expert guidance in purchasing real estate in Mexico with experts in the areas of title insurance, performance bond services and real estate law. Call toll free 1-866-CALAFIA or click on calafiacondos.com for details.
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