Many Americans already own a residence that they call their home and they are aware that is one of the major investments of their life. They are really pleased with it and probably they are going to be willing to stay in it as long as possible, instead of downsizing into a trendy apartment. But they wonder if they are going to be able to keep it when they retire. The costs of property taxes and homeowners insurance are leaving them with a feeling that they are never going to own their house.
When planning for an investment for their future -meaning retirement- they always think of options like CD’s, 401K’s, mutual funds and the like. But there are other options than don’t exclude each other.
There are properties around the world that cost little to be maintained and that -if purchased today- will have already an equity built up by the time the baby boomers are ready to stop working and enjoying life. Many Americans are pouring cash into overseas properties. Buyers are now confidently heading to countries such Mexico, Panama, Spain, Bulgaria, just to name a few, as new baby boomers hunt for new nests.
The developers of pre-construction projects let the buyers -in some instances- pay the down-payment in stages working just like a savings account. And many countries have stable governments and growing economies. In Panama, for example, the currency is the US dollar, meaning investments in Panamanian real estate is not subject to international currency fluctuations. And, in addition, there is the exoneration of taxation on residential investments.
Spain, on the other hand, despite the strength of the euro against the US Dollar, offers many an attractive investment opportunity, while the possibility of enjoying a second home. There are many emerging but solid markets in Spain that offer properties that are great potential equity builders. And, there is always the great people, the great food, the spectacular festivities, the fun……
With Globalization, people are moving toward a single market environment. Today, world economies have evolved into regional and global networks. And in the global system of supply and demand is included the demand for real estate.
Stay tuned…