Our original plan when we moved to the Riviera Maya in August of 2015 was to rent for the first year. We wanted to be sure that Mexico was a good fit for us and that this is where we wanted to stay.
Well, we ended up reevaluating that plan only two months into our adventure when the owner of the condo we were renting asked if we wanted to buy it. We had already fallen in love with the condo and the area, but the thought of buying a place made us both pretty nervous.
We started to ask each other “what if” questions like:
What if there’s some place better out there?
What if it’s not a good investment?
What if we choose to return to the U.S. someday?
Although those were all legitimate concerns, the “what if” question that influenced us the most was this one:
What if we pass on this opportunity and regret it someday?
After some careful consideration, we decided to buy the condo and not risk that last “what if”. We figured that we could always sell the condo later if things didn’t work out.
Evaluating Our Decision
Over two years have passed since we became property owners in Mexico. In all that time, there hasn’t been a single day where we have regretted our decision to buy. We still love where we live and when we’re away on vacation, we can’t wait to get back.
Now that we know how things turned out, I thought it would be fun to answer the three big what-if questions that we struggled with back in 2015:
What if there’s some place better out there? (Answered)
We have traveled quite extensively around this part of Mexico and so far, we haven’t found any other community where we would rather live full time.
What if it’s not a good investment? (Answered)
Since we bought, property values and even rental fees have steadily been increasing in the Riviera Maya.
We originally rented our condo for $850 USD a month but when we recently tried to help a friend find a long-term rental in the same community, we couldn’t find anything for less than $1,250 USD a month.
Even though our condo is not for sale, on two separate occasions people have expressed an interest in buying it and both times, they offered more than we paid for it.
Although no one knows for certain what will happen in the future, for the time being the condo looks like a pretty good investment.
What if we choose to return to the U.S. someday? (Answered)
We don’t have any plans to return to the United States; however, if we should ever change our minds, we feel confident that we could sell our property for a profit.
Let’s Wrap This Up
Mexico has been a great fit for us and we never regret investing in property here. In fact, we’ve even been thinking about buying a second property as an investment in another part of Mexico. This time we’re looking at development planned for construction in San Miguel de Allende.
We’ll let you know how that turns out.
Subscribe to Blog via Email