BajaNomad

CNN Retire in Mexico Article

CortezBlue - 4-29-2010 at 01:09 PM

http://money.cnn.com/2010/04/28/real_estate/Mexican_housing_...

A good article from CNN

bajabass - 4-29-2010 at 01:31 PM

Fair article. I hope La Paz prices drop a little more! The wife is down there right now looking at lots and houses. I'm ready to go live in my truck on the beach, but she won't let me!:(

tripledigitken - 4-29-2010 at 01:48 PM

Quote:
Originally posted by bajabass
Fair article. I hope La Paz prices drop a little more! The wife is down there right now looking at lots and houses. I'm ready to go live in my truck on the beach, but she won't let me!:(


How is your wife doing in her job hunting? Best of luck to the two of you!

Ken

BillP - 4-29-2010 at 01:53 PM

Nice to see something positive coming out of CNN for a change.

tiotomasbcs - 4-29-2010 at 02:23 PM

This is one of many articles written recently sponsored by the Realtor companies or Hotel Associations or Private boutique Hotels. Most had hoped to continue on the fasttrack to Extreme wealth . Now they can't afford their own opulent lifestyles! Cabo used to be beautiful. Now they want East Cape, Todos Santos, and La Paz. If the US economy & Cartel violence troubles had not ocurred the unbridled development of BCS would be paving over our pristine areas ! The LA Times & New York Times have written Travel articles & now I hear Sunset Magazine is next. The wealthy developers are really worried. Where's my soapbox?!

MitchMan - 5-1-2010 at 07:34 AM

This reply is intended for normal people of normal financial means.

I have maintained for years that Baja is the place to retire, even better now. I used to have a website that stated that you could buy a 5000 sq ft lot in Loreto for $30,000 USD, and have a new cinder block 2 bedroom house of 1000 sq ft built for $50,000 for a total of $80,000 USD. Two people could live for $500 per month very, very comfortably, 1 mile from the Marina and malecon 1/2 mile from down town Loreto. How long does it take to drive 1/2 mile? About 3 minutes by car, 10 minutes on foot.

In Loreto you are two miles from the international airport, four hours from La Paz, 1 hour from Mulege, driving distance to the USA, 10 minutes from arguably the best fishing in the world, and next to a new hospital.

The $500 covers everything two people need including but not limited to all utilities, gasoline, auto ins, health ins, food, annual fido fee, property taxes, cable tv, internet, and phone costs.

You can do the same thing in La Paz for the same cost.

The caveat is this. Don't buy "beach front property" or a condo in a gringo enclave. It's just plain dumb to think that the only acceptable way to live in baja is to only live in a beach front home. Frankly, I don't know where that stupid preconception comes from. You wouldn't consider it in Southern California, why do they insist on it in Baja? Baffles me. By buying 1 to four miles away from the beach front, you will save 400% in purchase price! How long does it take to travel 4 miles? about 10 minutes.

Packoderm - 5-1-2010 at 08:19 AM

I feel differently about the beachfront issue. I'd never consider vacationing 4 miles from the sea in Baja, so why would I want to retire away from it? I'd rather live in primitive conditions (trailer) by the sea than have a decent home away from it. My grandfather died at 94 living in a rustic shack in the location of his choice, and I aim to do the same. If I can live in a decent home overlooking the water, so much the better. I will consider it my life's only luxury. [But I'm afraid Baja will be completely gringotized by the time I get to retire, so I might be looking further south by then.]






[Edited on 5/1/2010 by Packoderm]

To Each Their Own .........

MrBillM - 5-1-2010 at 11:12 AM

But, Life's a BEACH for THIS person of average means.

Like Packo, my motivation to be in Baja is to be adjacent to the Beach, not a mile or more from it. I don't consider it in the U.S. for economic reasons. That said, I've never thought of Baja as a way to save money other than the land issue. I can afford to live (and I do) in both the U.S. and Baja so daily expense savings are meaningless.

My Casa Ramshackle is all (actually more) than I ever wanted or intended. I have absolutely no interest in social interaction or entertaining others. In the 28 years I've been there, I haven't had more than a dozen people stay overnight and the total occasions probably haven't exceeded 50. I don't care about selling it for a profit. I'm happy to simply exist there until the day I'm finished and then, if she's still around, mi esposa can do whatever she likes, including give everything away or burn it to the ground.

Gringos or otherwise, I don't care who my neighbors are as long as they are not a problem. I'm not interested in embracing a different culture or forsaking my own.

Packoderm - 5-1-2010 at 11:30 AM

When I said gringotized, I didn't mean living in the proximity of gringos; I have no problem with that. I meant that all the good stuff by the beach will be taken and fenced off like it is in California.

skipowell - 5-1-2010 at 12:40 PM

Its all about the beach!
Hearing the waves crash and the fresh breezes are number one on my list.

Even with the premium on the coastal properties it is a steal compared to the the US prices and you still get the lower cost of living (food, housekeeping, propane ect) that those that choose to skimp on proximity.

Contrary to the article I don't see that properties have dropped in value as much as it claimed. The prices of homes in our development have certainly softened but not anywhere near 40%. But there are exceptions, as we recently picked up a rental for a steal. A two bedroom with 1 1/2 bath with great ocean views for $80,000. but that was only because of being in the right place at the right time and having cash in hand and the family who inherited it is afraid of going to Mexico. But these deals are far and between. Most people own their homes down here and are willing to wait out the bad times.

It was nice to see an article that shared something positive for a change!

Udo - 5-1-2010 at 01:47 PM

I'm all there with you, skipowell!

It's all about the beach and fish'n


ps...welcome to the board, if no one has already done so.

bajabass - 5-1-2010 at 02:36 PM

Quote:
Originally posted by tripledigitken
Quote:
Originally posted by bajabass
Fair article. I hope La Paz prices drop a little more! The wife is down there right now looking at lots and houses. I'm ready to go live in my truck on the beach, but she won't let me!:(


How is your wife doing in her job hunting? Best of luck to the two of you!

Ken
She is doing well, a screening test, with another to go. After 3 trips down in the last 7 weeks, she hates coming back! I feel so bad for het, NOT! Thanks Ken!

bajabass - 5-1-2010 at 03:06 PM

I will live very near the water but not beachfront. I plan on spending most days on or near the water, and will see it clearly from my home. As a man of simple, blue collar means, a true beachfront location is neither practical or affordable. Most lots with or near water/electric are very expensive, or in the flood plain, high storm surge, arroyo zones. A lot on slightly higher ground, with a clear ocean view, even if people build in front of you, is my target. Or a well built house on a similar lot. I need to be able to launch a boat within a 15-20 minute tow range. I DO want to embrace a different culture, meet my neighbors, and know where I live and the people in the country I live. Pricing for my needs, as well as my wife and son, run from lots to build on from 20-30k, and 2-3br, 2bath homes from 100-?k. I have had some help in narrowing down choices, and once in, it will be a dream come true. Once a house is built or bought, real relaxing can begin. :bounce: Oh, there is this really nice alignment shop for sale in O.C. Cheap!!

oladulce - 5-1-2010 at 03:56 PM

Quote:
Originally posted by bajabass
...Once a house is built or bought, real relaxing can begin. :bounce:


Ahhh, I used to think that's the way it was too. But sometimes it seems like once a house is bought or built in Baja, you get to spend your days fixing it ;)

rts551 - 5-1-2010 at 03:59 PM

Just like any other house... Its work... but after 15 years, I have to say the rewards are worth it

woody with a view - 5-1-2010 at 04:08 PM

Quote:
Originally posted by bajabass
I will live very near the water but not beachfront. I plan on spending most days on or near the water, and will see it clearly from my home. As a man of simple, blue collar means, a true beachfront location is neither practical or affordable. Most lots with or near water/electric are very expensive, or in the flood plain, high storm surge, arroyo zones. A lot on slightly higher ground, with a clear ocean view, even if people build in front of you, is my target. Or a well built house on a similar lot. I need to be able to launch a boat within a 15-20 minute tow range. I DO want to embrace a different culture, meet my neighbors, and know where I live and the people in the country I live. Pricing for my needs, as well as my wife and son, run from lots to build on from 20-30k, and 2-3br, 2bath homes from 100-?k. I have had some help in narrowing down choices, and once in, it will be a dream come true. Once a house is built or bought, real relaxing can begin. :bounce: Oh, there is this really nice alignment shop for sale in O.C. Cheap!!



good luck bud! live the dream.... it sounds like you're on the right track.

oh, and about the shop? have one of your managers buy it from you over time. it's good for him and it gives you some income for a few years until you decide to just cut ties on Xmas eve one year and give it to the guy for being the best employee you ever had. you have a guy like that, right?

pay it forward after you are set, bro! then you won't become one of the neighbors Osprey write about......:light::lol:

[Edited on 5-1-2010 by woody in ob]

SDRonni - 5-1-2010 at 05:17 PM

I know we're in the minority here, but we LOVE our condo right on the water...someone else gets to take care of the property and we can sit on that balcony and watch the pelicans, whales, dolphins and seals. Our moving in was a three-year process, but so worth the wait to us. We bought at the height of the market (go figure!), but we're not looking to sell. Hope to enjoy it for many, many years to come.....

bajabass - 5-1-2010 at 06:55 PM

Hey Woody, great idea, but I need the cash from the biz to buy or build. Had a guy like that, but he quit when things got tough, not a prospect for a quiter. I opened my biz in Oct. 91, in the middle of the last recession, looks like I'll end up selling low during this one. Once the wife is hired in La Paz, I'll give the place away to get out of here! Osprey hit in on the head huh! May have had one or two posters from this thread in mind when he wrote it!:lol:

bajabass - 5-1-2010 at 06:59 PM

Quote:
Originally posted by oladulce
Quote:
Originally posted by bajabass
...Once a house is built or bought, real relaxing can begin. :bounce:


Ahhh, I used to think that's the way it was too. But sometimes it seems like once a house is bought or built in Baja, you get to spend your days fixing it ;)
O.K. Oladulce, 2 days for the house, and five to fish. Gotta eat ya know!:light: M says you and the other half are good people, can't wait to meet you.:yes: