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The Wall Street Journal published an article yesterday about the recent trend of Americans moving abroad.  More specifically, the article highlighted some of the many issues that expatriates face during the moving and adjustment period. 

While picking up and leaving the U.S. for a bungalow in paradise may seem like a fun and exiting idea, the execution of such a move can be a nightmare without the proper planning and preparation.

Below are some general topics and questions that should be considered prior to moving abroad.  Addressing these issues prior to immigrating will undoubtedly lead to a smoother, less-stressful transition.

Banking
Where will you open a bank account?
What does the account opening process involve/require?
How will you get cash?
How will you pay your bills?

Healthcare
What type of healthcare coverage will you have?
How far away is the nearest high-quality medical facility?

Moving
How will you move all of your possessions to your new location?

Residency
How will you plan to obtain residency?

Housing
Will you buy, build, or rent?
If buying or building, how will you legally structure your property purchase?
If building, how will you manage the construction process to ensure your objectives are met?

Many people take American ways of life and business practices for granted.  Consequently, when moving from the U.S. to a less-developed country, it’s important to realize that business (and life in general) is usually not transacted with the same speed and efficiency.  Patience is a very valuable virtue. 

To read the article from the Wall Street Journal, click below:

Retiring Abroad May Not Be Paradise (Wall Street Journal)

 

Over the next 10 years, almost 80 million Americans will reach retirement age.  Based on various different estimates, it’s likely that between 3 and 5 million of these Americans will pack up and leave the U.S. in search of warmer weather and cheaper living costs.

Where will all of these emigrants be headed?  If recent trends are any indication, many of these retirees will head South to Central America.  Costa Rica, Mexico and Panama have seen huge increases in the number of foreign property owners and immigrants in the past number of years.  Furthermore, other countries like Nicaragua and Honduras seem to be on the verge of becoming the next hotspots. 

So, what is it about Central America that makes it such an attractive place for Americans to relocate?  Below, we’ve compiled some specific factors that make Central America not only a great place to retire, but also a great place to invest.

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Geography 
Many major cities in Central America are only a short flight away from various different parts of the U.S.  As international air travel continues to grow in popularity, you should expect more and easier options into major Central American destinations. 

Affordable Real Estate
Central American real estate is very inexpensive when compared to the U.S.  For example, depending on your criteria, it isn’t unreasonable to expect to find a very nice plot of land in a desirable location for under $100,000.  On top of that, construction costs are a fraction of what they are in America, making the process of building a new home much more affordable. 

Attractive Living Costs 
Goods and services in Central America are also much cheaper that those in the U.S.  Living expenses for two individuals with hired help (gardener, housekeeper) can run anywhere from $1000 to $2500 per month. 

Quality Healthcare
Healthcare in many parts of Central America is as good or even better than the healthcare in the U.S., not to mention much less expensive.  In fact, “healthcare tourism” in Central America is becoming quite popular; many folks are combining their vacations with routine and non-routine medical procedures to take advantage of lower costs.

Incentives
Many countries in Central America offer generous incentive programs to attract foreign investors.  Benefits include a wide range of things from tax breaks to discounts on air travel, groceries, etc. 

Natural Beauty
Central America is a place of unbelievable beauty.  It doesn’t matter what type of person you are — from gorgeous beaches to majestic highlands, there’s something for everyone.

Stability
Many countries in Central America have highly stable governments and rapidly developing economies.  Risks of political and/or economic collapse have significantly declined in the past decade.

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Now is a great time to consider investing in Central America.  What are you waiting for?    

Intrevest specialized in helping investors successfully locate, evaluate and purchase international real estate.  We’d love to help you find that property you’ve been dreaming about! For more information, sign up for a FREE consultation.

I’m very happy to announce that Intrevest is currently open for business.  Intrevest was created to assist international real estate investors find, evaluate, complete and manage transactions.  Currently, we specialize in helping investors purchase property in Central America, with plans to geographically expand in the future.

The trend of foreigners purchasing property in Central America has never been bigger.  The real estate markets in Mexico, Costa Rica, and Panama are currently booming. 

Don’t miss the boat!  Contact us for more information.  We can help you find that little piece of paradise you’ve always dreamed about!