American and Canadian citizens have been purchasing Mazatlan real estate since the 60's for one reason or another. There are two main reasons why foreigners are investing in Mazatlan for their homes. The obvious is similar that this beautiful Mexican city has near perfect weather. After visiting Mazatlan you will quickly notice that it is good for your soul. Life suddenly slows down once arriving in Mazatlan. You are now on Mexican time!
Mazatlan has long been a retirement area for Americans and Canadians wanting to live a quiet peaceful life. Life is easy in Mazatlan. Homes and condos are very affordable and the property taxes are even better. Many foreigners originally purchased real estate as a second home. Many of the Vacation rentals are in fact are owned by foreigners. As a second home most find it a perfect place to get away from it all.
One of the main reasons that Americans and other foreign residents are purchasing real estate in Mexico is the economy. Living on a fixed income either social security or pension in America is getting harder financially all the time. In fact many retirees work a part time job to make ends meet. Many of the expert economists are predicting massive inflation in the near future.
The year 2012 is the year that many of the expert economists are predicting as when inflation is going to go up. With the United State government borrowing money at alarming rates and if they can not borrow it they have the attitude to just print it the US economy is predestined to crash. Purchasing a home or condo in Mazatlan or other Mexican area is becoming a viable solution for them to survive and in fact live a quality life.
Mazatlan Mexico Real Estate is quite reasonable. You can find a house in the ballpark of $ 250,000 and condos can be owned for even less. Taxes are roughly around $ 300.00 yearly for a home valued at $ 250,000.
Homes and condos are much less expensive to maintain in Mexico. You can hire a gardener for less than $ 20.00 per day. To hire a full time maid costs around $ 300.00 per month. Once real estate is purchased and the owners are living there full time most foreigners hire a maid due to the cost. Hiring a full time maid in the US costs so much that it is only afforded by the well to do. But in Mazatlan niceties such as having a maid and gardener are quite affordable.
So if you are considering moving to a foreign country to hedge the economy and stretch you fixed income Mazatlan Mexico is a perfect destination to set up a home.