Retiring Boomers Will Find More Advantages In Rocky Point Mexico
Everyday more people join the ranks of retirees living like royalty on tiny budgets in Mexico . Mexico is the preferred location for Americans living abroad. Twenty five percent of one million of the four million Americans living abroad live in Mexico and why not! You can trade in your suburban home in the U.S. for a seaside estate south of the border live in elegance with beautiful expansive views in a relaxed lifestyle. In Mexico you can easily afford the help that makes this style of living easy.
By 2011 the first wave of baby boomers will retire that’s approximately 78 million people. Most of these retirees can modestly retire in the U.S or live amazingly better in Mexico . Currently there are 25000 North Americans retiring each year. Rocky Point Mexico is expected to be one of the leaders in Mexico’s growing retirement migration destinations.
One of the attributes that is credited for these numbers is that its relaxed and refreshing atmosphere is so close to the border. As investors consider what is important for them in retirement the proximity to the border is important. Accessibility to an airport ease of doing business communication and infrastructure are also important considerations.
Because the number of retirees is soon to grow exponentially and many will be migrating south a recent study was done to analyze the demands travel habits and perception of Mexico as a tourist destination in Americans over 50. The study was conducted by the council for the promotion of tourist for Mexico .
The list below is what was deduced and is partly why so many savvy investors are looking here now.
1 the cost of living is lower
2 the weather is better escaping cold climates
3 the economic and political climates are stable
4 healthcare is excellent and affordable
5 English is widely spoken
6 foreigners can own buy and sell property
7 its close proximity to the U.S.
8 a mix of varying activities from passive to more vigorous
9 share differing cultures people and art
10 beauty of surroundings
11 reliving previous satisfactory experiences
If anybody is even considering investing in a retirement community home or destination they just need to spend a little time here in Puerto Penasco to realize this is it. With beautiful beaches sunsets and so much more visual candy coupled with the lifestyle opportunities here this little town is simply inspiring.
The research involved in making the most important decision for your retirement is so simple. Come to Puerto Penasco take your shoes off and stroll on the beach at sunset. But then realistically spend a little more time here talk to people who live here and enjoy your homework.
Author: Steve Schwab
About the writer: Visitrockypoint.com is a complete guide to Rocky Point Rental Condos Puerto Penasco Hotels Restaurants. SeaSideShuttle.com provides Rocky Point Shuttle Service from Phoenix to Puerto Penasco. Contact Mexico Realty Executives for Mexico Real Estate or for setting up your own Realty Executives Mexico Franchise.
Rent-to-Own Is It Right For You
In today’s economy renttoown property is becoming a popular alternative. In this type of real estate transaction individuals pay monthly rent to the homeowner with the intention of purchasing the property within a specific period of time. A percentage of the rental income is applied to the purchase of the home.
Renttoown real estate transactions typically involve renting the property from the homeowner for a period of three to five years. Oftentimes potential buyers are required to pay the homeowner a down payment of three to five percent of the purchase price. For instance if the home is valued at 100000 and you make a down payment of 5000 the purchase agreement will reflect a purchase price of 95000.
Next a percentage of the rental income will be applied to the purchase price of the home. This can range from 5 to 100 percent and will depend on the arrangement you make with the homeowner. It’s rare to find a homeowner who will apply 100 percent of the rental income but it’s not impossible. On average most homeowners apply 25 percent of the rental income to the purchase price.
Let’s say you agree to pay 1000 a month in rent and 25 percent is applied to the purchase price. Each month you rent 250 will be applied. If you rent for five years at the end of the agreement you will have accrued 15000 toward the purchase of the home. At this time the final purchase price will be 80000. What this means for you is that you will have 20000 of equity in the home you are purchasing making it easier for you to obtain traditional financing at the end of the five year agreement.
Renttoown properties can be found in nearly any neighborhood but before you sign on the dotted line you will want to take precautionary steps to protect yourself. Working with a real estate agent or investor who is wellversed in renttoown property transactions will save you time and money. However many people choose to draft their own agreements with the assistance of a real estate attorney or on their own.
If you decide to draft the transaction on your own make certain every detail is in writing. Include how much down payment is required what the monthly rental rate will be the percentage of rent money applied to the purchase price who will be responsible for maintenance of the property and a clause that allows you to terminate the agreement if the property owner or you does not uphold their end of the bargain.
Renttoown property deals are a good option for people with lessthanperfect credit. This type of transaction will provide you time to get your finances in order while building equity in the home you wish to purchase.
It is often very hard to find a rent to own home. There is no central database that has all the rent to own homes listed so that you can search for the right home. You have to visit web sites that are hard to find read through local newspapers weekend after weekend and then spend hundreds of miles driving to try and find what you are looking for.
Nine times out of ten lease option homes will not be listed in the Multiple Listing Service. Even if they are agents are reluctant to show them because they have to defer their commission for twelve months or more until the home sells.
Rent to own home owners may not always have the money to advertise in the newspaper and will often rely on yard signs or word of mouth advertising. So how do you find them? Instead of spending weeks reading through newspaper ads driving around looking for yard signs and viewing rent to own homes that you can’t buy or don’t want you can now have your search done automatically and only the owners that have homes meeting your criteria will contact you. This is especially useful if you are relocating out of state and don’t know which newspapers to read to find these homes.
About the writer: Written by the team at MarinDreamHouse top Marin County Realtors. Visit us for the latest on Marin County Real Estate and current Marin County real estate trends or call us anytime at 1.888.DREAM.13.
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