I’ve been asked why I am involved in both local and international real estate, coming out of such a global economic crisis. First, it’s because the real estate world is becoming smaller and it’s what people expect. But perhaps more importantly, it’s because of events over the past several years that I have become so involved.
On the whole, people buying properties outside the United States are not fabulously wealthy, living a jet set lifestyle. They are solidly middle class, looking for a cost-effective yet desirable alternative to places like Palm Springs, Phoenix, and Fort Lauderdale for vacation or investment property. And for people nearing retirement, they face the real dilemma of how to not outlive their financial assets.
Consider this: Ernst & Young reported last year that three out of five (60%) middle class retirees would outlive their assets if they did not cut back on spending significantly.
A major source of funding that many people planned on for retirement was home equity. The plan was to sell their appreciated asset and buy homes in warmer climates, banking much of the cash for additional income. While for many that is still possible, for others looking/needing to retire very soon, that amount may be substantially less than expected.
Enhance your lifestyle and spend far less? It’s possible, and Nicaragua may be right for you. With a growing ex-pat community, the friendliness of the Nicaraguan people, and cost-effective housing options – all in one of the safest countries in our hemisphere – be prepared to be surprised. I work with developers that offer homes built to American standards, with many priced under $200,000 in a new urbanist neighborhood, and near the ocean to boot! Combine that with the ability to live on $1000-$1200 per month, and you truly can enhance your life and spend less. Please feel free to contact me, and I can send you a complete budget with actual receipts to show you how viable this is.
Even if the idea of buying a home outside the United States is just a twinkle in your eye, please do not hesitate to contact me. It all begins with an initial conversation and a plan.
To my REALTOR colleagues – contact me, too. We offer attractive referrals and make it easy for you and your clients.