Despite diversity in income, ethnicity, education and life style, AARP* found that the 40 million American members who answered their survey, have these essential needs:
Need for Health
Need for Financial Security
Need for Community
Need to Contribute
Need to Enjoy Life
My current clients include 50-plus couples retiring to Mexico. One creative couple have a website with the theme “Any way but middle of the road.”
How did people choose Mexico to answer their hierarchy of needs as defined above?
My observation is that once the two top needs are not a worry, this demographic group finds great enjoyment in finding their particular answer to the next three: need for community, contribution, and enjoyment of life. What better way to meet these three needs than to evaluate options of where to live and travel from choices around the world?
Three couples I have worked with recently have chosen the western coast of Mexico to purchase their now-primary home. Ironically, their new choice of where to live can help their health by extending their life span. People are healthier when living in a climate of sunshine. Puerto Vallarta and the Bay of Banderas enjoy an average temperature of 80% from Nov-April.
Also, the cost of living can be lower in Mexico, so the need for financial security can receive a boost.
Need for a feeling of community can be met because of a large community of Americans and Canadians already living throughout the Bay. In addition, there are Europeans and South Americans living here to create a more international environment. There is an important opportunity to meet not only fellow citizens living as expats, or sojourners, but to know and learn from our Mexican hosts and indigenous groups such as the Huichol, Cora, Nahuatl, and Tarahumaras.
How can new residents contribute? The local community appreciates involvement in many educational and cultural exchanges which benefit the local population. One couple from Oregon not only helped sponsor the world-famous local dance troupe, Xutla, with costumes and dance lessons, but showed their love and support by attending all performances, even when it meant long-distance travel. Many sojourners help organize and participate in choirs, orchestras, smaller musical and singing groups. Local theatre is popular, as well as tango or salsa classes.
Many new residents become involved in fundraising to provide scholarships, beginning in secondary school, when the cost of private schooling becomes difficult on a local family’s budget. Others participate in efforts to assist senior citizens, the local library, children with disabilities, street children, orphanages, not to mention health care and adoption of local dogs and cats.
Need to enjoy life? Everyone has his own interests, styles, and hobbies or dreams of something new to learn or try. The advantage the mature citizen has is the time and ability to “Grow up Again,” a nifty slogan used by a resort in South Carolina, to attract this same age group. There is a plethora of choices of what to do with one’s spare time. Adventure may include learning or improving in the areas of foreign language (a good thing to do), painting, and sculpture, study of native plants, learning about natural medicines, cooking, dancing, hiking, scuba or snorkeling, sailing, oceanography studies of the rich sea life in the Bay.
My three couples chose real estate properties which best met their budget and interests. One couple chose to live on the south shore in a condominium building of less than 30 units, on the ocean with a beach and providing excellent snorkeling and swimming. Interestingly, almost half of my clients do not swim, snorkel or like boating. Less than half even go fishing. The interest everyone has, however; is the beauty and psychological benefits of living near the ocean.
The second couple chose a hundred-year old adobe home near Guadalupe Church, above the malecon and main plaza. The home’s aesthetic qualities come from a simple floor plan featuring an interior courtyard with rooms opening into it without doors. You step out the ancient wooden front door encrusted with Milagros, into the century old neighborhood of similar buildings with washed colors, red tile roofs and cobblestone streets.
The third couple chose a sleek, white contemporary condominium overlooking the ocean from the hillside of Amapas. Their three-bedroom home has high ceilings, much glass (clear and frosted) and cantilevered windows to bring in fresh air from the top. Extra private patios on the first floor helped this couple make the decision for their own enjoyment and that of their beloved family pet, “Bailey,” the beagle. It doesn’t hurt that the entire living, dining area and master bedroom look out onto a green lawn and vast infinity common pool for sunsets all year.
The particular budgets for the three properties, after negotiation with the sellers, were in the price range of $350,000usd -450,000usd. Only two of the properties were furnished and these owners are planning to make changes. The third unit has a complete kitchen and laundry appliances, all light fixtures, fans and a/c, but no furniture.
*AARP American Association of Retired Persons
This article is based upon legal opinions, current practices and my personal experiences in the Puerto Vallarta-Bahia de Banderas areas. I recommend that each potential buyer or seller of Mexican real estate conduct his own due diligence and review.
Harriet Cochran Murray, Director of Cochran Real Estate, is a seasoned Real Estate professional both here in Puerto Vallarta, Mexico and in the United States. Harriet has served in many capacities as a board member for the local Real Estate Association AMPI (AMPI is the national association of real estate professionals). She is also a member of FIABCI and NAR in the United States. Harriet’s expertise and experience in the Real Estate and especially in the Mexican market makes her Viewpoint blog articles both informational and intriguing. Harriet is an Agent who specializes in getting the best deal on the right property for her clients. Visit her website at www.casasandvillas.com and Check out her Real Estate Listings.
