Many people ask

me if I’m a

real estate agent.

The fact of the matter is I’m not. Never have been. Remember: I’m happily retired!

Because of that, I feel I can offer you truly objective information about building or buying a home in Mexico. If you need to buy or rent in Mexico, just let me know. I keep a constantantly- updated list of friendly, knowledgable, trustworthy builders and realtors who may be able to help you out.

My husband, Dick, and I know a few things about building and remodeling. We always have a project going on… like our guest bathroom currently in progress!! We basically put our boys through their schooling financially (a 4-year program??? – what a great concept!  ) by “redoing” homes. We were “flipping” homes long before we knew what that meant!

Dick and I both know which end of the hammer to use and how to do plumbing and even electrical. I plastered many walls and ceilings back in the days.

Yes, I even still have my own tool box. From the first, all the handles of my tools have been painted pink :) Two reasons for that – I like them pink, and our boys absolutely refused to use “Mom’s pink tools”! So I always knew where they were!

But remember, not only are new homes available in Mexico, there are Mexican areas where you can purchase a home and you will most likely, be welcomed into the neighborhood, and you’ll probably save big.

And, if you do need to contact a reliable builder/contractor/realtor in Mazatlan – just let me know…I’ll put you in contact.

Real Estate in Mexico:

 

 

 

 

 

 

 

Real Estate article by Barbie.

Peso

Before you go to Mexico, make sure you have a Peso … or twenty … in your pocket!

That’s right, don’t wait until you cross the border to exchange your money.

First, you don’t know if you’ll be able to find an exchange service.

Second,  exchange “centers” are generally more expensive than banks because they may charge you a service fee to change your U.S. money into peso.

Oh… and beware any guy on the corner offering exchange services. He may offer you a whole stack of paper money, or coins, that can look appealing, but may only be worth 50 cents.

Yes things like that do happen.

Thus, you probably should always try to exchange your U.S. dollar for Mexico Peso at a bank.

Especially when you’re not that familiar with the going exchange rate. The banks will almost always give you the correct and best exchange rate.

U.S. You can also safely go to a casa de cambio, where you may get a bit lower exchange rate than the bank is offering, but you may not have to stand in line so long.

Just check the peso / U.S.D. rates posted – there are many of these cambios and the rates vary daily!

Peso article by Barbie.

Let’s face it,

If you want to

retire in Mexico,

you need to experience the real Mexico first.

A few people who are just beginning to consider moving to Mexico for their retirement years and some who are now ready to decide just what area will fulfill their dreams of retirement have emailed me asking just how, in my opinion, they should best experience Mexico so they can be sure they are choosing the right area for them to live.

Please, don’t just pack up and head down on a tour bus or an “all-in-one” planned tour to Mexico… not for this important venture. Not for your retirement.

Take charge of your trip – do your research first, have a list of places in and things you need to check out. A Mexico tour might be great, but it’s not going to show you what the real Mexico is. In other words, don’t go with the idea that you’re just going on an elaborate vacation. Go realizing you are looking at a potential place to live.

Go shopping for groceries where the natives go. Wal Mart is great, but go to the Mexico native market place, too. You’ll be amazed at the quality and variety of foods offered, fresh, and very reasonable! You’re sure to see lots of things you’re not at all familiar with. That’s all part of the charm and fun of a new location like Mexico. Remember, this is your retirement adventure.

Some of the best information that I didn’t even think of obtaining came from a lady I stopped in a Mexico grocery store. A very kind, and talkative lady and I chatted in the middle of a grocery store isle for 20 minutes. Dick and I received a wealth of information from her and her husband, who finally came walking down the isle, wondering just where she had gone :)

You really want to spend your time talking with the people who live in Mexico. Start up conversations with people at little restaurants where the natives go. Start conversations up with people in the shops. You just may even end up with a new good friend!

Do find the American organizations in the area. I list some that are in Mazatlan in my book, Retire In Luxury.  Talk with the people there …you will be so welcomed!  And you’ll learn all sorts of experiences and problems that have already been experienced and solved.

See what real day-to-day life will be. You don’t want a sanitized version of life in Mexico. Believe me, not everyone who lives in Mexico goes to a fiesta every night.

Learn what the real Mexico is like.

You will probably truly fall in love with it. Just remember, you’ll still have plenty of time to enjoy the beautiful days and your evenings relaxing and having fun later on! Sure, you want to do the sightseeing stuff …just make sure you do your investigating first!

Experience Mexico article by Barbie.

We are all faced with many decisions when

contemplating

retirement!

Logically, and sensibly, your choices for your retirement years should be based primarily on your finances.

Do you want to do a lot of traveling? If you choose that lifestyle, then why would you start looking for a large home, with a lot of upkeep demanded?

You may decide to just stay put – perhaps near family – in the home you’ve been in for years.   Or, have the family already scattered, so you are free to move where you can really make the most of your retirement years, and just enjoy their visits ?

Some of our friends, retirees also, have felt they must have extra bedrooms and baths for the relatives who come to visit (usually once a year). Just contemplate… how much would it cost you to simply rent a motel room for them, compared to the upkeep and expense of having that extra space you’re going to pay for ??

Think of the original cost of the extra room, the extra taxes, the heating, the cooling, and just the upkeep!

You can pay for a lot of overnighters in a motel for what you will pay for that extra room that isn’t even used 95% of the time. And heading to a private motel room is usually a wonderful break – for everyone – to part at the end of the day for some private time and recuperation time!

Do you plan to do a lot of entertaining – either family or friends? Again – why get a humongous home you’ll be constantly cleaning and keeping up, when friends are just as comfortable in a more intimate setting.

Remember, you and your friends are getting older each year, and the wild parties of your 30’s and 40’s possibly are not the evenings you will be experiencing in retirement.

Keep your taxes low, keep your utility costs low, and enjoy a higher, more leisurely lifestyle like you can do if you move to Mexico.  We’ve fallen into the nicest concept…It’s called “pupu parties” … I guess it’s Hawaiian for hors d’oeuvres party. You just call a bunch of friends – they each bring a nice snack, your supply the drinks, and it’s a wonderful, easy, inexpensive and casual get together. Not too much work for anyone, and a great reason to get together with friends!

If you have a lot of equity in your home, (I always stress that hopefully by the time you are contemplating retirement, your home is paid for) and you should decide to sell it, buy smaller, have less expenses, put the profit into an investment portfolio and enjoy the interest.

Then, you may decide to just stay put – in the home you’ve been in for years.  Just realize that air conditioners eventually will need replaced and the plumbing – possibly, etc.  And if you have a lot of equity in your home, if you sell it, buy smaller, and put the profit in the bank – voila!  Interest to help with expenses, or to grow for a long desired item!

Don’t overlook renting – an apartment or a condo – everything is secure when you take those trips, and you won’t have to own a lawnmower or snowblower anymore!

Your retirement maybe be just around the corner,

or it may be along way off, but from this day forward it’s up to you – and no one else – to save enough money to live on happily after retirement.

As far as Social Security benefits, the nay-sayers and dooms-dayers say it won’t be there for long – but, if is, then it will be an added bonus!  But, long before your retirement date, you should contact your Social Security office, and get all the information you can – they can tell you when you can start drawing on Social Security, and how much you can expect to receive – invaluable information for planning your life!

Suggestions: If your employer offers retirement savings plans – take advantage of them – they are taken out of your pay before taxes – and the savings will earn interest, and you won’t be taxed until you – usually in retirement – take the distributions.  And, believe me, in retirement, most of us have a lower income – ergo – lower tax ratio.  Win-win – you saved, let it gain interest, and the taxes will be less.

If your employer offers a matching play – take full advantage of it!  Contribute as much as is allowed.  Same scenario as above paragraph, plus you double your savings!

Once you have a retirement plan established, don’t borrow on it!  You’ll find it’s almost impossible to replace the money you already saved – and you’ll be paying back interest too boot! And you may be taxed twice – when it was earned and again when you withdraw it at retirement.  Keep your eyes open for Penalties!  If you take distributions before the qualified age, those withdrawals may have penalties!  So, try to wait until at least you qualify for Social Security and their insurance to retire – you’ll find health insurance can be a huge expense on your own.

Retirement article by Barbie.