By: Steve Yip
I was born and raised in Canada, but I’ve been frequenting the area for many years, I have now become a permanent resident. Over the last years, I keep on noticing many remarkable changes that sustain the fact that NOW is the time to invest in Los Cabos. With many organic produce available more and more, plus, large retailers carrying food and products from around the world bringing choice and variety, we see convenience becoming the norm. There are many more corner stores and gas stations, as well as a bevy of great local and international restaurants, bars and all kinds of fantastic food vendors! These are just a few of the things that have changed over the last few years, but there are many that have not changed: the great weather, white sandy beaches and crystal clear water from the Sea of Cortez to the majestic Pacific Ocean. The local people, whether it be the “native to this area” people or the “not originally from this area “people, have always been generally very helpful, friendly and accommodating.
When investing in Los Cabos Real Estate, keep in mind there are a few differences that may surprise you and delight you at the same time.
Real estate has always been an extremely great value here but after the financial crisis of 2008 prices had hit the lowest in many years and have stayed low until NOW, thus creating a great environment for those wishing to invest. Even after a storm, the likes of which no one has seen here in the past happening a year ago, the prices have remained stable and many new improvements have occurred to the infrastructure of the area. If investing here, you can look forward to getting much more for your money than you might expect, including more useable space, inside and out, lush green gardening year round as many properties come with large patio area and swimming pools!
Property taxes here in Mexico, known as the ”Predial”, are much more affordable than what we have grown accustomed to paying in the USA or Canada. Predial is calculated based on a percentage of an assessed value of a property at the time of sale and that assessed value is commonly much less than the actual market value. That being said, the average taxable percentage of the assessed value of residential property in Mexico is much less than what you’d think. Buying a house or condo at a market value of $100,000 you may find your yearly property tax could very likely be under $100 per year! When considering investing your life savings into a vacation home or retirement home in paradise (here), you might also want to consider making it your primary residence or retirement home and liquidate any current property elsewhere that may be costing you thousands of dollars a year to hold based on taxes alone!
Whether it is your home, your car, or yourself, the cost of fixing or renovating things is much lower here in Baja California Sur. Things like carpentry, plumbing, electrical, as well as landscaping will all be offered at a fraction of what you may be used to paying, with top quality all the time! Being a mechanic myself in the past, I also know from experience that having car problems will be much less painful at about half the cost. As for yourself, the cost of food, alcohol and tobacco products are also much less especially if you shop and eat like a local. So is the health care with available options with local facilities, or given the case, the ease opportunity to fly abroad if needed.
You may find yourself less dependent on material things to make you happy, although Los Cabos has nearly anything and everything to cater to any lifestyle no matter how extravagant. Having so many inexpensive things to do in the amazing climate here on any given day will save you money, enrich your life, create memories and contribute to your health and spirituality. Aside from the many fitness clubs and yoga studios there are also many other outdoor activities like biking, swimming, snorkeling, walking, running, and hiking, that require only yourself and your time to enjoy for a very healthy lifestyle. Many foreigners have come to practice many of those activities on a daily basis and as a professional activity! If you are the type that likes to relax by a pool or at the beach with a cold beverage and a book, this is also a perfect place to do just that. I have grown to love this place and all it has to offer, the food, the fishing, the weather, the sun the sand, the sea and its people.
I invite anyone considering life here to do the same, what are you waiting for? Come find your reason for being here and welcome to happiness that will give you back much more than what you think!
For more information about Los Cabos Real Estate, lifestyle and news, send Steve an email to firstname.lastname@example.org, visit www.cbriveras.com or call the Coldwell Banker Riveras San Jose office at (624) 142.5544. From US / CA 858 964 3715