Is Cabo A Good Place To Retire?
Learn Why Your Retirement Goals Should Include Los Cabos
If You Are Looking To Live Abroad Once You Retire, Cabo Is One Of The Best Options Out There
Cabo San Lucas is a world-class destination and a popular place to retire. Nestled between the Pacific Ocean and the Sea of Cortez, it is filled with an abundance of natural wonders, pristine beaches, adventure activities, and restaurants. From golf to snorkeling, fly fishing to kayaking, helicopter tours to scuba diving, Cabo has something for everyone.
The water is a magnificent shade of light blue and the mountains are a remarkable backdrop! There is no shortage of things to do in Cabo San Lucas during the day or evening. It’s no wonder this city has been rated one of the top beach destinations in the world.
The weather pattern is constant and invigorating: hot and dry during the days, and cool and calm at night. This metamorphosis that brings with it a steady mix of winter and summer is perfect for those looking to retire in Cabo San Lucas.
With an average of 340 days of sunshine, you can be sure that the weather will be calling your name. With a variety of rental homes, condos, and beachfront properties to choose from, you are guaranteed to find your dream home.
Cabo is a fishing town full of expats from around the world. There are resorts, shopping centres, restaurants, bars, and even a Walmart and a Costco, all within a short driving distance of one another.
Overall, Cabo San Lucas is one of the best places in the world to retire, largely due to the following reasons:
- Sunny, dry desert climate;
- Friendly inhabitants;
- Excellent healthcare system;
- Wide range of activities for all ages;
- Short travel distance to amenities;
- Low property prices; and
- An affordable cost of living.
Cabo’s spectacular seaside, abundant livestock, and excellent real estate prices have made it a favorite destination for expats. Cabo San Lucas has long been one of Mexico’s vacation spots. However, in the last few decades it has attracted well-to-do foreigners because of the growing number of expat communities in town.
Retirees can live in well-built or beautifully remodeled homes with swimming pools, usually within walking distance of the beach for US$300,000 or less or, can enjoy some of the more extravagant, luxury homes for sale in Cabo.
Cost Of Living In Cabo San Lucas
The cost of living in Baja California Sur is much cheaper than what you can find back home, but this is still a luxury destination, especially if you are accustomed to the comforts of living in the United States. The average cost of rent may be affordable, but if you’re not careful, you could end up paying more for things than is necessary.
The average cost of living in Cabo is much less than what you would usually pay for gasoline, groceries, and utility bills but although the cost of living is relatively low, you might find yourself spending more money than anticipated on things that are considered luxury goods. It’s important to be aware of the average cost of what you’re accustomed to using back home before moving here.
At the grocery store, food costs are moderate, depending on the product. Imported products from the U.S. and Canada are more expensive, but often of a higher quality. Vegetables, milk and cheese can cost about half of what it would in the U.S., although beef and chicken may be higher.
Many expats who live in Cabo San Lucas will say that, apart from a few very high end establishments, food and drink here is much less expensive than back home. It’s all relative – if you are used to eating out at very high end establishments, then your dining expenses will go up to match that. If you prefer to cook at home, as many people do, it’s possible to dine out as often as you like for as little as $20 US per person.
Even though you will be surrounded by beautiful homes and extravagant hotels, you should still carefully consider your finances to determine how much money you can afford to spend on maintaining your standard of living.
However, when it comes down to it, Los Cabos (this includes Cabo San Lucas and San Jose del Cabo) is an inexpensive place to travel and live.
Cost Savings For Retirees In Los Cabos
Inflation, currency fluctuations and possible stock market declines, make it hard to predict what might happen to your savings. In an effort to combat this uncertainty, retirees often consider the possibility of living in a foreign country. With good reason, if you’re a ‘hard currency’ investor.
The affordability of living in Mexico depends on what your income is but there are certainly ways to make sure you can save money. If you’re planning to retire in Mexico and generate your income in a hard currency such as the US dollar, CAN dollar, British pound or Euro then converting your savings into pesos can stretch your retirement budget further.
Currency exchange is a big advantage for retirees living in Mexico. A US dollar or Canadian dollar will stretch 5 to 10 times further when it comes to the basics of living – and for those Americans and Canadians who spend vacations and winter months in Los Cabos, the cost savings on everyday expenses can be between $500 and $800 USD/month, which can make a huge difference once you reach retirement age.
Is Real Estate In Cabo A Good Investment?
Cabo San Lucas is well established as one of the most desirable vacation destinations in Mexico. Even if you don’t travel to the Baja Peninsula for its spectacular year-round sunshine, world-class scuba diving and pampering spa treatments, there are a lot of reasons why you’d want to have a Cabo property.
It’s no secret that Mexico is among the most popular international properties markets. A few decades ago, buying or investing in property was something of an upscale activity. However, over the past years, more and more real estate companies have started to offer lower prices for property.
Cabo San Lucas is one of the most popular resorts in Mexico and possibly the world. It has classy hotels and restaurants that attract tourists from all over. The city has a lot of sights and activities to offer for travelers and families.
That’s because Cabo is a short hop from Southern California, which means you could quickly and easily fly down to enjoy a two-week vacation at a fraction of what it would cost to stay a similar length of time on the other side of the border.
There are also many opportunities here to take advantage of and many different options and styles when it comes to finding your perfect property. There truly is something for everyone, with a few examples of the available Los Cabos properties are listed below:
- Luxury homes;
- Marina Homes;
- Cabo Beach Homes;
- Cabo Resorts;
- Cabo Villas; and
- Town homes in the Zona Hotelera.
A few things to first look for in real estate investment include good market trends, investment opportunities, and value for your money. Cabo San Lucas meets these requirements perfectly. It is continuously developing to become one of the busiest spots in Mexico. As an investor, you can be sure that it has excellent potential for growth.
Living In Cabo Is A Comfortable, Financially Safe Option That’s Appealing To Retirees Because Their Money Stretches Farther.
As far as places to live are concerned, Cabo San Lucas has it all. It’s affordable, has great weather, makes living on a fixed income easier, and is becoming increasingly popular with retirees. With so many people wanting to visit Cabo, the economic growth of the town largely depends on tourists. If you want to live in paradise, consider retiring in Cabo!