Why Buy in Latin America When Prices Are So Low in North America?
Here at Where International, we love telling you about incredible deals on property in Costa Rica, Honduras, etc… and for those of you looking to purchase in these locations, this is valuable information!
However, if you find yourself asking why you’d buy overseas when you can find just as low property prices in Canada or the US, perhaps you’re not ready to make an International move just yet.
It’s no secret that Canada and the US have been through some tumultuous financial times the past few years. Although Canada is clawing itself back to normalcy, the US is having a tougher time. This equates to incredibly cheap property and housing, which seems to be around every corner, particularly in the States. A quick search online will turn up a variety of cheap homes and land in Canada too, but take a close look at where they are… it’s not uncommon to find a “deal” in a remote, northern area of any province.
Basically, if you search hard enough, you’ll find something in Canada or the US that is similarly priced to almost anywhere in the Western Hemisphere.
Just remember that the price of a property and/or home goes well beyond the sticker price you find on the real estate sign. Whether you’re purchasing strictly for investment purposes or for your own long-term happiness, health and wellbeing, the sticker price should only be the beginning. The continuous expenses will be what end up having more significance in the long-term then that original price.
If all you’re looking for is a cheap piece of land or house, then finding something in Canada or the US that’s affordably priced doesn’t really get you too far.
Consider, for starters, your utility costs. No matter where you go in Latin America, utility costs are a fraction of what you pay in North America. There are also property taxes (only 0.25% of your home’s assessed value in Costa Rica) to think about, medical and dental care (many Latin American countries openly market medical & dental tourism to North Americans) and it’s hard not to think about the exorbitant prices you currently pay for fresh fruit and veggies at your local grocery store.
Now, if you’re buying for purely investment purposes, the above points won’t really play into your purchasing decision. However, if your plan is to sit on your North American property until you can sell for profit, the recurring costs can really add up while you wait. (Thanks to low taxes and utilities in Latin America, people looking for straight-up investments are still flocking to this part of the world).
Nonetheless, many folks looking to move overseas are really just attracted to moving in general. Of course, finding an affordable place to live is a bonus and thankfully, available all over the world, but that’s only part of it.
As nice as it is to find a cheap piece of land or house abroad, it’s what happens when you make the move that makes the most difference to people. What it really comes down to is quality of life.
It’s easy to question why people would research home and property prices in Latin America when there are just as affordable options in Canada and the US. But it’s not as easy to question why someone would want to live in a tropical destination for half or less then what they pay now, with year-round warm weather and a stress-free, happy and healthy life.
Needless to say, there are many reasons people need to stay where they are, even if a better quality of life is taken out of the equation. And there are a lot of folks out there who would rather just put up with their current circumstances as a trade-off for being close to family, friends and the surroundings they’re used to.
People are capable of deciding these things on their own. But finding affordable real estate is available everywhere in the world.
Finding a location that fit’s your long-term goals for health, happiness and wellbeing along with being within your budget?
That’s something to aspire to.
To learn more about how you can have it all – affordable property in areas that promote happy, healthy, stress-free living – why not participate in a Discovery Weekend? You can learn more by going HERE.