INTERNATIONAL DESTINATIONS

Rica, Panama, Ecuador, and Spain, residents pay a fraction of what we spend per capita for healthcare. Yet, life expectancies and quality of life indexes rank much higher than the U.S. Costa Rica, for example, residents pay just $1,337 per capita for healthcare costs, yet average life expectancy is almost two years longer than in the U.S. Quality of life indexes rank Costa Rica significantly higher than the U.S. Costa Rica has topped the “Happy Planet” index four times in the last 10 years.

There are challenges to owning foreign property. The country may speak another language and have immigration restrictions; accessibility might be an issue regarding flights, the cost to fly, etc. Political changes may affect the value of your investment, and there’s no MLS. In my experience, these challenges are more than offset by the advantages.

Many things can create buying opportunities like economic issues, currency fluctuation, natural disasters, etc. These events can create buying opportunities both at home and abroad.

A good example is taking advantage of currency fluctuations. Many countries are experiencing a currency crisis against the strongest dollar we’ve seen in years. The Euro, British Pound, Japanese Yen, and Colombian Peso, to name a few, are all at record lows against the dollar. That means there are significant buying opportunities using dollars to purchase foreign property in these countries/regions. Colombia has been gaining popularity as a retirement destination, partly because the U.S. dollar currently buys 30 percent more there than it did two years ago.

The price does not just determine value. Making sound decisions about buying property abroad is a complex issue. Considerations include safety, accessibility (flights, distance, cost), quality of life, political stability, economic outlook, language barriers, currency fluctuations, environmental risks, and so on.

For many, the cost of living is usually the most significant factor in choosing a retirement destination, and foreign-owned property can be surprisingly inexpensive to own.

I am currently bullish on Costa Rica, the Riviera Maya of Mexico, the south coast of Spain, and Colombia. Currency fluctuations have created bargain opportunities in Europe and Colombia, and Costa Rica is always on my list. The high quality of life and low cost of ownership make this friendly, democratic haven top most international retirement destination lists.

For more information, contact Steve Linder at 305-295-0137 or Steve@Pacificlots.com.

Only steps away from Urbana’s Market District—and with easy access to I-270, 355, and the acclaimed shopping and dining of historic Downtown Frederick—The Woodlands of Urbana combines timeless design with luxurious details into an inspired oasis you’ll love calling home.