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Destinations, FAQ, Full Ownership, Real Estate

Read this before you Buy Real Estate in Banderas Bay

If you are planning on purchasing real estate in Banderas Bay, there are a number of procedures and considerations that are worth reading up on to ensure a smooth experience. The following are some of the things you should know before you buy real estate in Banderas Bay.

Closing process when you buy real estate in Banderas Bay

The closing process to buy real estate in Banderas Bay is a little lengthy. It takes between 30-45 days to ensure all of your paperwork and escrow accounts are set up. The process must be carried out by a local public notary in Banderas Bay. The buyer pays the closing costs while the seller pays the capital gains taxes and real estate fees. Buyers and sellers do not need to be present at closing because both can be represented by their Sales Associate via a power of attorney.

Property Taxes for real estate in Banderas Bay

You can expect very low property taxes compared to USA and Canada when you buy real estate in Banderas Bay. The rate is usually around 0.08% of the assessed value and is known as ‘Predial’ in Spanish. House taxes should be paid yearly.

Insurance

Mexico has all the needed insurance for your property including liability, damage, property, and earthquake insurances. These are all available at low costs.

Property Managers

After you have bought a property in Banderas Bay, you might want to choose a property manager to look after your place. Especially if you will be away from your home for any length of time. As a second home homeowner in Banderas Bay, considering a property management company will be necessary, unless you have friends or family who can help you out.

Financing

Real estate transactions in Mexico are usually paid in full. Mortgages for foreigners are only available if you are a permanent resident working and paying taxes in Mexico. If you need extra financial aid, you might want to consider some sources back home like equity loans, second mortgages, personal lines of credit, among others. Otherwise, you will be expected to pay in full.

Rental Potential

One of the advantages, when you buy real estate in Banderas Bay, is that you can expect good rental potential. Quality properties in Banderas Bay are competitively priced. You can expect to rent your property as well as good hotels with an average occupancy of 60-80% annually. Take note that Banderas Bay enjoys a very strong rental market for both homes and condos.

Equity

Short-term property speculation is not a concept readily applied to the Mexican real estate market; but if you own in the most desired tourist areas, you will certainly see a rise in property values. Most buyers who have purchased real estate in Banderas Bay usually want to enjoy their property as a vacation home.

Are you getting a good deal?

Definitely yes! When you compare what your money could buy, in relative terms, with the housing market outside of Banderas Bay, you can assure of getting a good deal. Make sure you have considered the following factors like local beauty, ambiance, safety, cost of living, and life goals.

Maintenance

Don’t forget to calculate a budget to maintain your property in Banderas Bay. You should consider general wear and tear, roof tiles and plumbing etc. You also need to pay any maintenance fees on common areas, if applicable. Common area maintenance and security is usually handled by each building’s Condominium Owners Association.

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What’s the Purpose of Title Insurance?

Is title insurance a new concept for you? Here you will find out all you need to know about the purpose of title insurance.

  • What’s the purpose of title insurance?

Title insurance protects against financial loss due to defects that may be found in a property title, and can be used to prove the lawful ownership of a piece of property. More than half of all real estate transactions run into trouble someplace within the chain of title, and title insurance can be useful in helping uncover any issues prior to making a property purchase, which will allow you to correct any problems so that the transaction can be completed. Property loss or damage may occur due to liens, encumbrances or defects in the title to the property, and title insurance shields real estate owners and lenders against such problems. Every title insurance policy contains specific conditions, terms and exclusions.

  • Protecting your investment

For most people, their home is the largest investment they make, and title insurance can help to safeguard it. Most types of insurance (like auto, flood or homeowners insurance) supply coverage for events that might be happen in the future; however, title insurance defends against losses that may come from defects and hazards that a property title already has. Documents from a previous sale that have been improperly executed or a lien against a previous owner are some examples of these issues.

  • Checking for past liens

Insurance policies including healthcare, life protection, etc. protect you in the event that something happens in the future, and you pay for them with premiums broken down by the month or year. On the other hand, title insurance protects against previous events that happened with the real estate property and its former owners, and is paid in a one-time lump sum at the close of escrow.

  • Benefits buyers, sellers and lenders

Claims from defects is something title insurance protects against. Defects including improperly recorded documents, fraud, forgery, liens, encroachments, easements, another person claiming an ownership interest and other items are defined in each insurance policy. So that they can be insured against assorted possible title defects, purchasers and lenders need title insurance. When title insurance is issued, it benefits the buyer, seller and lender.

  • Title agents

Once the title order has been opened by the escrow officer or lender, a title search can be conducted by the title agent or attorney. The customer will be sent a preliminary report to review and approve. Upon the instruction of escrow, all closing documents are recorded. After recording has been confirmed, orders are paid, funds are expended and the title insurance policy is produced.

  • Escrow

Escrow is a process that happens when the money for a transaction (like when a house is being sold) is kept by a third party (often a title company or an attorney when it comes to real estate dealings) until the conditions of the transaction have been fulfilled.

You may want to read:

Buying Real Estate in Los Cabos – The Facts

Invest in Peace, Rest and Real Estate in Banderas Bay

by VLEAdminRE,
Destinations, FAQ

10 Reasons to make Mexico your Home

Mexico is a vast and eclectic country that can often be overlooked as a place to lay down more permanent roots. Whether you already feel the seeds have been planted to make the move or if the idea is still fresh, read below for some pointers on why moving to Mexico is a fabulous idea.

10 Reasons to Make Mexico your Home

The People

Three words to describe the people of this wondrous land would be kind, curious and welcoming. Mexican people will take the time to ask you, with genuine interest, about your experiences and to share their own. If you take the opportunity to exchange a few words with the locals, you will most likely be given tons of advice on the best places to visit or perhaps even invited to eat in the family home.

The Climate

The beauty of the Mexican climate is that with such a huge landmass it can cater for everybody. If you love a tropical climate, you can have it! If you prefer cool mountain weather, it’s yours!

The Colors

Mexico is a visual feast of colors that is never dull. This country has a bright palette demonstrated by the food, textiles, flowers, traditional paper banners, street art, even houses – the list goes on!

The Lower Cost of Living

Coming from the U.S. Canada and Europe, the cost of living feels substantially cheaper. You will find yourself spending a fraction of the price on things like eating out, rent and transport. This allows you to worry less and enjoy more.

The Cuisine

Although Mexican food can vary from state to state as each region puts their spin of things, the cuisine is consistently delicious. Classic flavors draw from tomato, chili and corn, lime, onion and cilantro. You can find mouthwatering seafood and fresh fruits, exquisite traditional foods including soups, meats and sauces, and not forgetting of course the foundational taco.

The Landscapes

The sheer size of Mexico paves the way for countless gorgeous landscapes from the Caribbean beaches of the South to the rocky desert of the North. There are volcanoes, tiny mountain towns, copper canyons, rapids, mountainous jungles and urban cityscapes.

The Nature

Given the wealth of natural resources that Mexico nurtures, its biological diversity is something to be treasured. Mexico boasts almost 30,000 species of flowering plants and 1,500 types of mammals, reptiles and amphibians. You can experience the grandeur of the pink flamingo in the Yucatan or the millions of Monarch butterflies in MichoacĂĄn which migrate from Canada each year.

The Celebrations

Another colorful element of the culture is the festivities! With a plethora of bank holidays to celebrate national and religious holidays, there is plenty of joy to be had throughout the year. You can join the celebrations by sporting the national colors of red, white and green whilst eating, drinking and dancing to your heart’s content.

The History

Mexican history is a rich and interesting study, from the Olmecs and Mayans, to the Spanish conquest, to modern day political issues. There are many museums and art galleries throughout the country to tell the story, particularly in the larger cities like Mexico City and Guadalajara.

The Sense of Fun

Finally, Mexico is a country that has a sense of fun and freedom to it which is contagious. Perhaps this is brought to us by all of the above; the endless opportunities to experience something new and the generous people which make it all possible.

Do you need any more reasons to make Mexico your home? Contact us today!

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by VLEAdminRE,
Destinations, FAQ, Riviera Nayarit

What to Expect from a Vallarta Lifestyle

So, what is it that foreigners do once they make the move to Puerto Vallarta and the Riviera Nayarit to join the full-time community there? The list of potentials is endless, to be honest, as there is really something for everyone here. Get to know the Vallarta Lifestyle:

The Beach | Vallarta Lifestyle

The beaches and coves around Puerto Vallarta and Riviera Nayarit are, not surprisingly, at the top of this list, and for good reason! There is such variety in the beaches of Banderas Bay that you can be absolutely certain of finding the right beach on which to practice your favorite sport (whatever that may be!). Whether you wish to find stunning scenery to photograph, amazing coves to explore, or you want to swim, surf, paddle board, snorkel, scuba dive, or even freedive you can be sure to find the perfect place to do it all when you live in Puerto Vallarta. Get ready to put your hiking boots on, however, because there are simply not enough days in the year to see all that Puerto Vallarta’s coastline has to offer.

Vallarta’s Farmers Markets

During high season (October to May) you will find that Puerto Vallarta and Riviera Nayarit is the hub for some really lovely farmers markets! On Sundays there is a market in La Cruz de Huanacaxtle which benefits from stunning ocean views and access to some of the freshest seafood in town. Don’t forget to watch the street performers when stop to grab a bite to eat! On Saturdays from 9:30am to 2:00pm you will find the Old Town Farmers Market in Puerto Vallarta. This market has everything from street food and live music to art, clothing, jewelry, crafts, and locally grown produce! You can find the Old Town market at Lazaro Cardenas Park (adjacent to Los Muertos Beach).

Charity and volunteering

There are few better ways to make friends than through passion for a shared cause, and in Puerto Vallarta and Riviera Nayarit there are plenty of wonderful charitable causes which would benefit from your time and attention. There are animal shelters, orphanages, and old people’s homes; there is also “children of the dump”, a women and children’s refuge. There are also some schools for disabled children which could benefit from your experience and help. What better way to make friends than by giving back to the community in which you now live, laugh, and love?

Movie Theatres

Puerto Vallarta has almost as many movie theatres as gas stations (well, maybe not quite), and they’re generally reasonably priced as well as utterly charming. Thanks to this variety you can be sure you’ll find one that suits you to a T fairly quickly! At the Isla shopping center, for example, there is a VIP cinema which features in show waiters who will attend to your needs through each showing. If you have kids, on the other hand, there is the cinema adjacent to Pitillal which has a slide running all the way from the top row to a pre-show kids area.

Live Theater

If you’re a lover of live theater you should definitely get involved with Act II entertainment (found on the corner of Basilio Badillo and Insurgentes Street). They are always on the look out for fresh talent, and besides the viewings are affordable; even if you don’t want your shot at stardom you can enjoy the productions they put on! The theatre itself also has a lovely piano bar which is a great place to kick back, have a drink, and meet new people for those who enjoy a bit of luxury.

Taking a road trips

When you live in Banderas Bay, there are plenty of place to explore. Hire a car or take to public transport and explore the many wonderful colonial towns, lakeside villages, and seaside cities which pepper this landscape.

Share with us what do you like the most of the Vallarta Lifestyle!

by VLEAdminRE,
Cabo San Lucas, FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Residences

Buying Real Estate in Los Cabos – The Facts

Are you considering buying real estate in Los Cabos? If you are, then we have provided a few tips and facts for you to think about before you purchase real estate in Los Cabos in the article below. Here’s what you should know before buying real estate in Los Cabos – The facts.

Closing Costs in Los Cabos

Generally, the closing costs when buying real estate in Los Cabos will take 30 – 60 days. All of the paperwork and the escrow payment will be regulated through the real estate agency office that you have selected along with the local public notary. All of the closing costs must be paid by the buyer and the seller will pay all of the real estate fees and the capital gains taxes. The buyer and the seller do not necessarily have to be present during the closing, but a sales associate or power of attorney will need to be issued in order for a representative to sign on your behalf.

Property Taxes

In Los Cabos, the property taxes are very affordable. The property taxes are known as “predial” and is around 0.08% of the assessed value of the property, as determined when the property is sold.

Property Maintenance

The Condominium Owners Association handles all the maintenance and security for all of the common areas for condominium owners buying real estate in Los Cabos. The maintenance fees for condominium owners are paid by monthly fees. If you will be away from your property for a lengthy time, then you should consider hiring a property management company to assist you with your property.

Property Insurance

In Mexico there are a variety of insurance types, which include earthquake, liability, property, and damage and the insurance is very affordable. There are many types of insurances, some can also reimburse you with US dollars if you wish. Just be sure to check your contract when purchasing your insurance.

Financing Properties in Los Cabos

Most of the real estate properties purchased in Mexico are paid in cash, but lately mortgages are becoming available even though the interest rates are high. Foreign buyers will have to provide their own financing. For example second mortgages, equity loans, and personal credit lines will have to be done by the buyer. When buying real estate in Los Cabos at Villa La Estancia Los Cabos, the developer can offer private financing to those who qualify.

Rental Potential in Los Cabos

There is great rental potential in Los Cabos for condos and homes. If you own property that you rent out at a price that is competitive, then you may look towards a potential 70 – 80% occupancy.

Property Equity

Buying real estate in Los Cabos should not be seen as a get rich quick investment but appreciation is fairly stable. The majority of buyers looking for second homes in Los Cabos are wanting it for their retirement or for vacations, which makes the real estate market in Mexico stable.

Buying real estate in Los Cabos is easy to do. You now have the facts and tips that will assist you in buying real estate in Los Cabos.

by VLEAdminRE,
Destinations, FAQ, Real Estate

Tips for a Successful New Life in Mexico

So – you’re moving to Mexico! Congratulations! This is a radical change to your way of life, and we know that it is going to be a little daunting for you at first. This is why we’ve compiled our top hints and tips for succeeding in your new life in Mexico.

Here are our top tips for a successful new life in Mexico

Learn Spanish

Most people in the big cities and tourist hotspots of Mexico speak very good English, and so learning Spanish is not a necessity but there is no doubt in our minds that learning Spanish will help you have a successful new life in Mexico. There are plenty of classes that you can attend if you want to get a basic understanding of the language; when you use it to get to know your neighbors better you’ll find that your grasp of the language increases rapidly.

Be flexible

Flexibility is without a doubt one of the most valuable attributes you can have when you’re making such big changes to your life; a good, solid plan will make the changes easier to deal with, but you should always leave room in your plan for change! Remember that a plan is always a work in progress, and so changing it is never a failure. Be ready and willing to adapt to your situation and you will go far in your new home.

One day, task and goal at a time

It can take a long time to get used to the ways of a new country, and so you should remember to be patient and keep your mind open for a successful new life in Mexico; don’t compare your new home to your old one as this is a sure road to frustration and disappointment. You will also find that a soft approach will get you much further as a foreigner with the locals than if you get frustrated and irate.

Invest in networking

Take the time to network when you arrive; making friends and acquaintances in your new home is key to success. Meet the neighbors, join a gym, say hello to your work mates. You could even join a few of the Facebook groups set up purely for expats in the area. This will help you to establish a friend base and settle into your new home and new life in Mexico.

Savings

It pays to have some money squirrelled to the side to tide you over if you have to make last minute visits back home or need to attend to an emergency when you make a new life in Mexico. Also, you will probably spend more on socialization when you first arrive as you try to get yourself settled, and there’s always the chance you may need repairs to your car or certain aspects of your home; it can take a few tries to get a mechanic, plumber, or electrician you trust. You may not need this cushion, but it will certainly help to know that you have a safety net if you should need it. This peace of mind is truly priceless.

So – have you moved to Mexico recently? Do you have any tips for people looking to make this move? What would your advice be? Let us know in the comments section below!

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by VLEAdminRE,
FAQ, Full Ownership, Real Estate, Residences

Introduction to Types of Real Estate in Mexico

When it comes to real estate options for vacation homes, Mexico is the place to look. Mexico can deliver if you are looking to buy an amazing villa that overlooks breathtaking tropical waters or even if you want to design your own home. There are many real estate opportunities in Mexico awaiting you. Here is our guide to the types of real estate in Mexico.

Guide to Types of Real Estate in Mexico:

  • Houses and single family homes in Mexico

Usually the houses in Mexico are two story houses. In the cities the houses are generally bigger. Traditionally houses in Mexico would come with a courtyard, designed purposely so on hot and humid summer days the homeowner can remain cool. Nowadays you will find more variety, with many modern homes in Mexico resembling North America and Europe homes.

  • Condos in Mexico

Condos are becoming a more and more popular option for real estate in Mexico, particularly in tourist areas where foreign investment is becoming more prominent. When you own a condo, you own a unit that is in a large building or complex, and you usually have access to a pool and/or a gym; your association fees will help maintain these common areas. There are some limits on condo owners as to what changes you can do to the interiors of your apartment, but in general, you can decorate your unit as you like. Changes to the common areas will be controlled by the homeowner’s association or the company that is employed to administer the condo.

  • Villas in Mexico

A ‘villa’ traditionally refers to a large luxurious home that is elegant and sophisticated, usually fairly big and overlooking some kind of impressive view. For example, the villas at Villa La Estancia offer incredible ocean views. Villas are certainly one of the most luxurious options for real estate in Mexico.

  • Condo-Hotels In Mexico

A condo-hotel in Mexico refers to real estate option for people to purchase homes at a hotel complex. The units you can purchase come with many added features such as using room service and concierge services with the hotel. Sometimes there will be great restaurants, a spa and multiple pools.

  • Apartments in Mexico

An apartment in Mexico is usually in a large building and the apartment can be rented or even purchased. The location, style, and size can vary as there are one bedroom apartments that are located in a family style neighborhood and all the way up to five bedroom apartments that is located within the city and these come with added features such as a Jacuzzi and a balcony that you can enjoy.

  • Building Your Own Home in Mexico

You can purchase land, then have your own home built for you in Mexico. If this is what you are wanting to do, then you should hire an experienced contractor. You should always be available and let them know exactly what you want done through each of the construction processes, so you can avoid any costly mistakes and surprises that wasn’t included in your original design.

What is your favorite type of real estate in Mexico? Leave us your comments.

by VLEAdminRE,
Destinations, FAQ, Real Estate, Residences

Medical Evacuation Insurance for Expats

If you are planning a trip to Mexico, then you may have considered purchasing travel insurance; but what if you are planning to stay for longer periods each year, let’s say for the whole winter? Or perhaps you are thinking of purchasing a second home in Mexico? What options do you have for health insurance? Medical evacuation insurance might be all that you need?

Health insurance for expats in Mexico

Firstly, it is not uncommon for some health insurance policies in the USA and Canada to cover expats while they are out of the country and staying for longer periods of time in Mexico. It is certainly worth checking with your insurance provider to see if you are covered. Likewise, you may think that you will not be in Mexico long enough periods of time each year to warrant taking out addition Mexican health insurance and may opt to take the risk of not being covered and paying for medical care if needed (which is much more affordable in Mexico than back home). However, if you are planning to make Mexico your main home, it is highly recommended that you take out private Mexican health insurance.

What is the difference between health insurance and medical evacuation insurance?

Health insurance is the level of medical cover you have to protect you in the event of illness or accident according to the terms and conditions of your policy. Health insurance will cover the cost of treatment and surgeries etc. Medical evacuation insurance is a policy that makes sure that you are able to get back home while you are abroad to receive treatment (so long as you have health cover back home, that is). Often, your standard health insurance will not cover the expensive cost of repatriation in the event of a severe illness or accident and commercial airlines will not permit you on flights if you are in a critical condition.

What is the point of medical evacuation insurance for expats?

Medical evacuation insurance is highly recommended for anyone who:

a) does not have any form of medical insurance cover in Mexico but has a full policy back home.
b) is covered in Mexico for treatment by their home health insurance policy but is not fully covered for repatriation in the case of serious illness of accidents.
c) has basic Mexican health insurance that only covers emergencies and you need to cover the cost of getting you back home to receive the medical assistance.
d) has Mexican health insurance but need to see a specialist in your home country.

What about travel insurance for expats?

If your trip to Mexico is going to be for a short time, then travel insurance may be all you need. However, remember that most travel insurance policies are valid for a limited time such as 60 to 90 days. Travel insurance coverage can also vary drastically, and many of the travel insurance policies that come with medical repatriation come with strings attached which limit the coverage of repatriation, forcing you to receive treatment in Mexico.

Those with Mexican private healthcare coverage

Individuals that plan on staying in Mexico for a longer time may opt for private healthcare insurance or IMSS which will cover your healthcare while you are in Mexico, but anytime that you become critically sick or injured, then the expats medical evacuation insurance will definitely come in handy because once you are cleared to return to your home country the expats medical evacuation insurance will assist you. You will be able to be with your family to provide you support, see your local doctors and hospital. You should remember that the regular healthcare insurance policies that only provide medical treatment will not pay for any flights for you to return home.

Medical evacuation insurance benefits for expats

Medical evacuation insurance for expats is very beneficial in the event of drastic circumstances. Anyone who has had to pay for medical repatriation out of their own pocket will know that these costs are extremely high and can leave you bankrupt. If you need medical repatriation, then you should know that no commercial airline companies will fly you back home if you happen to be in critical condition medically. Medical repatriation will not only supply you with a direct flight to your home country, but it will also provide you with a team of trained medical professionals and medical transport experts that will coordinate between the hospitals, doctors, airports, and all government agencies. They will also provide your family with all the information needed during the evacuation process too.

The cost of expats medical evacuation insurance are not expensive and if you consider the support network along with the professional medical teams that you will be provided with, it is a great value, especially during a medical emergency that may affect you or your family member.

Reference: https://www.mexperience.com/how-will-your-medical-plans-cover-you-in-mexico/

by VLEAdminRE,
Cabo San Lucas, Destinations, FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Residences, Riviera Nayarit

Booming Real Estate Market in Puerto Vallarta for 2018

With so much uncertainty going on in the world, many people are flocking to Mexico to invest south of the border. 2018 looks to be a great year for real estate market in Puerto Vallarta and Banderas Bay. Find out why.

Buyer’s Market

It’s a buyers’ market right now in Puerto Vallarta and Banderas Bay; and 2018 looks like it will continue the trend. You will find a host of great quality, high value properties available for purchase.

US Dollar

The US dollar has a big bang for its buck against the peso right now. When purchasing property in Mexico, you will find you can afford something much more luxurious. The exchange rate will certainly be in your favor when spending US or Canadia dollars as well as Euros.

Quality of life

Speaking of dollars, the quality of life in Mexico is very appealing. Domestic staff is affordable, handymen are abundant and services and product are very reasonably priced allowing you to live at a more luxurious level than that you are accustomed to.

Buy to rent

If you are not ready to move for the 365 days a year, you can market your property easily on sites like AirBnB and VRBO or local rental agencies. This brings in a nice income that can help pay expenses like maintenance fees or a mortgage if you have one.

For all budgets

For all budgets there is a property to suit! Build a house; buy a small house or mansion, loft-like condo? low rise high rise, on the beach, off the beach. We have it all in the Bay of Banderas. A good real estate professional will show you all the options.

Happy investing!

by VLEAdminRE,
Destinations, FAQ, Residences

Checklist for Retirement Destinations

If you’re coming up to retirement age you may be seriously thinking about where you would like to do it: will you stay in your hometown, move closer to family, or would you rather go abroad? If you really have your heart set on retiring somewhere mild and sunny, this article will help you to focus your thoughts on where and how you wish to retire. For those of you who are looking forward to retirement with your partner, you might find that what you want is very different from what they want when it comes to retirement destinations. Therefore, you might want to spend some time together to talk about what you want and need from your Golden Years. At the very least you can figure out if compromise will be needed, and in which areas.

Checklist for Retirement destinations

What kind of climate do you want in your retirement destination?

Do you feel the cold while your spouse cannot stand the heat? If so you need to discuss the kind of climate which will be good for you both. Before you choose your retirement destination we would advise that you visit during all of the seasons; the winters may be fine, but if the summers are way too hot (or vice versa) there’s going to be an issue.

How close to home does your retirement destination need to be?

How far away do you want to be from your family and friends; would you like to see them daily, or will the occasional visit be enough? This will determine what the best destinations will be for you. Places like Mexico will be cheap and easy to visit whereas places in Europe and Asia may be more expensive.

Are you ready to move full time?

Will you be choosing a retirement destination for good or are you going to be a snowbird and migrate in the winters? If you’re going to emigrate fully you will need to find a country which is open to retirees becoming full time residents. Being a part-time snowbird may leave you with more options.

How long term will your move be?

If you intend to move permanently to your retirement destination, you’re going to want to be in a country which has a good healthcare system and you can still receive your pension. You might also want to think about whether or not you can have dual-citizenship in your destination, and just how easy it will be to gain residency.

How expensive is it to live in your chosen retirement destination?

If it you’re hoping to downsize and live less expensively you will need to consider how cheap (or otherwise) it will be to rent accommodation, and just what the cost of living will be when you’re there.

What kind of lifestyle are you used to?

What kind of lifestyle would you like to have? This is the key question when choosing a retirement destination, really
 what is it that you love most; the beach, the garden, theater, or good food?

What is the current political climate?

Is there potential for unrest in the near future? Is the economy stable? How are policies geared towards foreigners who live there. What are the immigration laws? Some retirement destinations are more welcoming to foreigners
 think about how your nationality will be received in your country of choice?

How will your healthcare needs be met?

Choosing a retirement destination which will help any chronic illness that you might have. For example, if you live near the sea or mountains it may have positive impacts upon your health, but more pragmatically it will also be better for you if private healthcare is cheaper in your new home.

Will learning a foreign language be necessary (or desirable)?

Do you speak the language? If not, can you learn? Alternatively do many people in your new destination speak English? If you are unable to communicate with the locals, your retirement is going to be lonely and possibly difficult! Of course, there are many retirement destinations in non-English speaking countries like Mexico where you will be part of a large English speaking community and will find that many locals can speak at least a little English.

Are you open to a completely different pace?

Some countries are well known for having a much slower pace to their lifestyle than you may be used to. If you think that this will impact your enjoyment of living there you may want to consider a country which has more in common with your home nation.

The key to getting the right retirement destination for you is to make a shortlist of the countries which hit the majority of your criteria and begin visiting them at different times of the year to make sure that you can have an accurate gauge of what life there is like overall. “Try and buy” packages are great ways to get to know a destination before you retire. Fractional ownership, too, is a good way to get a feel for a place.

Recommended article: Checklist for Relocating to Mexico

by VLEAdminRE,