Do you rent or buy a home?

[Retired-Veteran]

Originally Posted by kcowan

Make sure to visit Chapala before making a commitment. That should give you a better perspective.

Can you explain more please?

[FHBOY]

Originally Posted by kcowan

Make sure to visit Chapala before making a commitment. That should give you a better perspective.

Did that. Candidly it is jumping into the deep end of the pool too quickly for my comfort. There are probably beautiful places to live, like RV's place, but a neighborhood is not only my house, but it has to be place where I feel more comfortable. Perhaps one day I will tire of the Ajijic life, but to move there now is not a choice I will make.

We went there a couple of times, shopped there, went back there to go and get dinner and we were not comfortable. There is no judgement involved in that statement just preference, not everything is for everyone.

That is why it is sooooo important to get off the keyboard and in a plane or car and come down, once, twice, three times to make sure.

I saw, didn't meet, so this is just based on looking,those people we have discussed who seem to have no interest in fitting into the greater Mexican culture, so we will not be them...and that does not have anything to do with where we make our home - it is our desire to fit in and to grow.

[Jim45D]

Originally Posted by RVGRINGO

Sparks and I share a very similar attitude. What little family we have, have never visited or shown any interest; even though they could use the money, but they won't even bother to come down. So ........ they get 'nada'.

RVGRINGO: I share your sentiments exactly. "Nada, punto, Nada!" Although we haven't made the full move to Mexico yet. It's not because I'm worried about living there. It's simply because I'm not ready yet. I need to get my RV in shape with it's solar setup, and am in the process. My wife and I live in Az. presently, but have rented in Guaymas, Son, and El Fuerte, Sin. Being a SS receipant myself, and dealing with the outlandish prices here.....well, it's darn near time to go. I don't know what Mexico requires as far as a monthly pension to obtain a FM1, or whatever. We live on it here, and survive.

The only thing that may save me in that particular senario of monthly income is because my wife is Mexican National, and has lived in the states for going on 25 years. We were planning on building in El Fuerte, but ill health finally got to me. We bought the property some 6 years ago, and it's paid for. However, now I would have to hire someone to do the building, and don't have the cash for that either, so now it's back to the RV, and keep planning. I can relate to investiments being "all gone", mine was wiped out in 2008. Incidently, if we live until my wife is eligible for her SS, in another 4 years...we'll be OK..........THERE!!!!

[surfrider]

I live in San Antonio and I love it here. I think there are gringo's around because I see them driving around. However every neighbor around me is Mexican. I live about 1.5 blocks from the lake and on the lake there are people living in tents. People around me are very poor but very wonderful and they are happy and very friendly. We visit on the street because I like they walk everywhere. I also use the "grocery stores" that are in my village. Spanish has yet to find its way to my lips, so I talk in English and they talk in Spanish and we get through it with hugs and smiles. I have an orchard that I share the produce with my neighbors and they send some food over to my place now and then. I would not like to live around all Americans or Canadians. I like the Mexican way of life (with American money that is) I would not like to live as the Mexican's around me live, as I said they are very poor.

[PieGrande]

Originally Posted by Retired-Veteran

Thank you very much! I used Google Translate and it worked out pretty well. By what I see on the web site I will find a place that I'm sure I'll be happy to rent from. Having to wait until the move day is getting hard. After looking at some of the rentals I can understand why some made a comment about $850 being moderate. There are places that I would be very comfortable in at $490 to $550 American.

Retired-veteran nails it! Good work!

[FHBOY]

Originally Posted by Jim45D

RVGRINGO: I share your sentiments exactly. "Nada, punto, Nada!" . Incidently, if we live until my wife is eligible for her SS, in another 4 years...we'll be OK..........THERE!!!!

Use the SEARCH feature, there have been many discussions on income requirements - I believe it is now about $1500 USD for first person, $900 USD for a second person, but I could be wrong.

[kcowan]

I know gringos here who come on a touristico visa, open a bank account and then deposit the required money and withdraw it again each month for 3 months to qualify. So it is not a question of money to gain residence.

[masmgt]

I've read all the rent vs. own stuff here and in other places. We were going to buy, found the perfect house in Ajijic, but so many have convinced us to rent for a few years. If you got cash and can buy mortgage free - then yeah, of course a owned home will be better for your cash flow, but how do you know if the house you buy is the place you want to live and then what if it proves not? The other thing is that home ownership in Mexico does not come with the perks of the USA - tax deductions for interest and taxes - as someone pointed out, rather I keep my investments intact, earning interest, than take it out to buy a potential liability (based on the current housing market).

I have been a home owner most of my 40 years of marriage, and it will be a change to rent - but no argument I have heard has re-changed my mind - not at least for the first couple of years anyway.

As an investment, home ownership in Lakeside is a poor bet. The rental cost to property price ratio is very low as the number of properties bought well in advance of retirement keeps rental rates low. (Many people buy for their future retirement after a single visit here, then rent it out in the interim.)

The key issue is if you are willing to move every few years, and pets add complexity to finding a good rental. If you are pet free and reasonably nomadic, renting is the way to go.

After 15 moves, 7 of them interstate, over 40 years, I bought when I came here with my two lovable Rottweilers.

[Retired-Veteran]

About renting,

Does anyone know of some Expats that have been able to rent for many years without having to move? I mean rent the same house for many years around Lake Chapala.

Or does it go that every year or two a person will inevitably end up having to move?

[tmex51]

I purchased a small lot with a adobe house in a very small town in the mountains, built a bigger house complete with a indoor lap pool out of adobe, in all I've spent less than $50K, property taxes are less than $20 USD a year, based on my genes (aunts/uncles) I have another 20-25 years to enjoy my little paradise, leaving behind a $50K investment to anybody deserving after 20 some years of enjoyment doesn't bother me at all, now if you need shopping malls, traffic light/congestion of big city life it maybe a different story. Perfect weather, down to earth honest hard working proud people is what rural Mexican life is all about, please stop and smell the roses before it's too late