These are eleven reasons why I'd buy a
home in Mexico and watch till end because
I'm saving the biggest reason for last.
Number one is that you're going to get
a whole lot more home for your money
a whole heck of a lot further here and buy
you a way nicer home than what you can spend
the same amount of money on where you're from.
By the way, none of this is financial advice,
it's just simply the way I see things.
Number two is the ultra low property taxes here.
For every $100,000 of value of your home you can assume
you'll be paying about $100 per year in property tax.
So a $300,000 home, $300 per year in property tax.
However, if you pay early you might get a 20% discount.
If you're of retirement age, you
might get a 50% discount.
And if you don't pay at all and pay
late, well, here where I'm living in Queretaro
If you waited until December to pay, well, they
gave you a 90% discount on your property tax.
Number three is the opportunity for customization.
Now, if you're renting a home in Mexico and
you want to change something about it, well, you
might be able to do that, you might not.
And if you are able to do that, well,
it's likely going to be at your own expense.
And you don't get to reap the benefits
of that for years into the future only
as long as you're renting the house.
Whereas if you own the home, you
get the benefits of that forever.
Number four is that it reduces your
risk of running out of money.
For example, let's say you're a retiree coming to
Mexico on a fixed income like Social Security
or a pension and you're renting. Well, you're subject
to any changes in that rental market.
And while many rental markets are pretty stable around
Mexico, there are some that are very unstable.
For example, in Puerto Vallarta we've seen rents
double in a matter of four years.
And if you're renting and your rents double in
four years, well, that's seriously going to affect your
quality of life when living here in Mexico.
But having bought your home, you
don't have to deal with that.
Number five is international diversification.
Now, financial advisors talk a
lot about asset diversification.
However, they'll put all of your money into one country
and I think that's generally a very bad idea because
what if something bad happens with that country?
Well, then it would be
great to be internationally diversified.
And having purchased a home in Mexico, well, that
takes some of your assets out of your home
country and moves it into another country.
Which I think is a good thing for your portfolio.
The 6th reason for buying a home in Mexico is
the opportunity to lower your electric bills to almost nothing.
This probably isn't going to apply to you if you're
moving to central Mexico in the highlands where the temperatures
are very moderate because you don't really need heating or
air conditioning in a lot of these places.
However, if you're moving to a beach destination or
a place that's hotter, well then it could be
very important for you to buy a home
So you can put solar panels on the house
to lower your electric bill to almost nothing.
A lot of homeowners do this across
Mexico because in these beach destinations your
electric bills can get super high.
But you just throw a few solar panels on there,
you connect that to the grid, it's really easy to
do, and they lower their electric bills to almost zero.
We have just a few left before we get
to the biggest reason on this list, but if
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The 7th reason for buying a home
in Mexico is a sense of security.
For a lot of people, buying a home isn't such a
financial decision, but it's moreso a decision about life.
What's going to bring the greatest comfort
and peace and relaxation to your life.
Because owning a home instead of renting may help
you sleep better at night, and a lot of
times that isn't something that should be overlooked.
The 8th reason to buy a home
in Mexico is to fulfill a dream.
There's a lot of people who have traveled to
Mexico and loved it so much that they swore
to themselves before they died they were going to
buy a home in Mexico and move here.
Well, if that's your dream, I
think we should chase our dreams.
So go ahead and fulfill that dream.
I think that's a very good reason
to buy a home in Mexico.
The next reason to buy a home in Mexico is as a Plan B.
This is a sort of an insurance policy.
If shit hits the fan where you're at, let's say it's
the US or Canada, well, Mexico is quick and easy to
get to and you can get the heck out of there
and go live in your home in Mexico.
This might provide you peace of mind.
And I think it's worth it to have
these types of Plan B's and insurance policies
in place should something happen where you're from.
Just ask the people in Ukraine if they would have
liked to have a plan B in a nearby country
should shit hit the fan in their country.
Well, I'm guessing if they could afford it, they'd
be happy to have that option. Number ten.
So let's say you want to live in
Mexico and you're choosing between buying and renting.
Well, if you rent, there's exchange rate risk.
So let's say you rent a home for $1,000 a month.
But your rent is not denominated
in dollars, it's denominated in pesos.
So that'd be approximately 20,000 pesos.
But let's say the exchange rate over the course of your
contract goes from 20:1 to 40:1.
Well, in that case your rent goes down
from one thousand dollars to five hundred dollars.
But when you're renting and your contract is in
another currency, it can also work against you.
So let's say it goes from 20 pesos to
the dollar to ten pesos to the dollar.
Well, your rent just went from one thousand
dollars to two thousand dollars a month.
Well, if you're on a fixed income, that could
seriously affect your quality of life in Mexico.
And number eleven, the biggest reason why I would
purchase a home in Mexico is if we totally
fell in love with a home and that particular
home was not available for rent.
Because as you'll see when you click on this
video here, it almost always makes way more financial
sense to rent in Mexico than to purchase.
So click on that video next.
The biggest reasons why I would
not buy a home in Mexico.