If you are thinking about experiencing retirement in Mexico, you should know some basic facts about Mexico living. Most people consider Mexico retirement because of a low cost of living, while others consider it because of an amazing climate and natural beauty. Few people even retire in Mexico in order to experience an adventure oriented lifestyle. Whatever reasons you consider, there are some factors you should keep in mind and think about before making your decision.
Where to settle?
Before considering retirement in Mexico you should decide on which particular to retire in. There are a lot of places to retire in. For example, Lake Chapala region is the place where most American and Canadian retirees are found. This is a lakeside region which has beautiful fresh water lake and most people prefer living in this region because it is a good spot for vacations as well.
Another place worth considering retiring in Mexico is Oaxaca State. It has a lot of architectural history attached to it and has many scenes which add to the beauty of it. Oaxaca is on top of many future retirees list, mostly because of its cultural atmosphere, beautiful landscapes, nearly untouched beaches and low cost of living without sacrificing the luxury you want.
Mexico is quite a cheap place to live in when compared to lifestyle of western countries and this is the main reason why many consider retirement in Mexico as a viable option. Three bedroom homes are easily available for low prices and maids are readily available at low wages. It is very easy to live a luxurious lifestyle in Mexico for an average earning person and this makes retirement in Mexico an attractive option. Energy costs are also low in Mexico, which allows retirees to use most of the appliances and electronics at low rates and this makes high temperature not an issue. The tax rates are also lower than you may expect, which adds to a retiree’s prosperity.
Health and Medical facilities
In Mexico, people can buy health insurance for as low as $400 per year. Health care in Mexico is also of high quality and the medical facilities are in many ways similar to those in Canada and the US. The hospitals in the major cities actually offer all the healthcare services you would expect from an American facility.
The rule of value added tax applies in Mexico. If a person currently living in Canada or the U.S. is considering retirement in Mexico, they would realize that property taxes are relatively low. People who do not earn incomes in Mexico and earn from outside Mexico in forms of dividends or returns from foreign companies will not have to pay any Mexican income taxes. Due to these tax exemptions and leniency, many people consider retirement in Mexico a favorable option.
Having a good life after retirement is very important and most people want to spend their golden years living a peaceful and stress free life. Mexico is a great place to accomplish this and may stand up to many people’s expectations.