Why consider affordable real estate in Mexico for your retirement? Consider this; a recent US survey selected the 5 most affordable cities in terms of home prices vs. average income. However, while these places offer affordable housing, they also suffer financially. Yucatan real estate and property in nearby areas, Mexico’s most famous tourist destinations, not only offer year-round warm weather, beautiful beaches, and plenty to do, but also offer property prices for all budgets and a dynamic economy with great opportunities. to earn money.
First, let’s consider this list of the top 5 affordable cities in the US. Between Indianapolis, Youngstown, Ohio, Syracuse NY, Dayton Ohio, and Grand Rapids Michigan, median home prices average about $90,000. . While these are average prices, you certainly won’t be looking for luxury for this amount. While the affordability factor scores above 90% for each, the economies also leave a lot to be desired, with unemployment averaging 13%, at least 3% higher than the national average.
On the other side of the coin, the top 5 least affordable cities include New York, San Francisco, Honolulo, Santa Ana, California, and Los Angeles, with median home prices over $400,000 and affordability factors down about 20% . Again, these are average prices and no one is talking about luxury.
In addition to a relaxed beachfront lifestyle, let’s consider what these same prices will get you in some of the best Yucatan real estate locations.
While in the Yucatan real estate area, $90,000 can get you a quaint Mexican-style home near the center of the colonial city of Merida, or a traditional-style home in a small town on the outskirts of town, the style of life it entails is priceless. The completely restored colonial downtown, the beautiful architecture, the rich Mexican culture make this an incomparable with the cold American cities mentioned above, not near a beach or anything that could be considered romantic.
For just a little more than this price, at $125,000, Playa del Carmen real estate offers a beautiful 2-bedroom condo in that city’s original gated community, just 5 minutes from the beach, and around the corner from Sam’s and the newest shops in town. mall. At $150,000 there are many condo options available in the area. While we’re comparing condos to houses, if you’re planning to retire, these condos offer many amenities, like on-site maintenance, to make retirement easier. Plus, if you’re planning ahead, these condos can be rented out for an income in the meantime, balancing out the cost of buying a second property. Of course, in Mérida, there are also many options for houses and condos available at this price.
Cancun Real Estate also offers ocean view condos and modern homes for less than $110,000, including premium beachfront living for just a little more than the cheapest US cities.
Combine with this a lower cost of living, healthcare is 50-70% cheaper than in the US, and a nice property in a colonial town or near the beach in the Yucatan could end up making your retirement cost. less than some of the cheaper US. cities