Home How To GuideBuying Property in Mexico How To Make A Strong Dollar Work For You How To Make A Strong Dollar Work For You by Brent May April 22, 2020 by Brent May 3.4K Sunshine, surf, sand and an amazing culture – there are many reasons to move to Mexico! But have you thought about what a strong dollar could do for you when it comes to buying real estate in prime Mexican destinations? The economic uncertainty over the pandemic has thrown the Mexican economy for a loop. After holding steady in both international markets and the dollar/peso exchange rate for several years, the Mexican peso has become vulnerable. The peso is experiencing record lows with an exchange rate of 25:1 against the American dollar. The peso to Canadian dollar is about 17:1. More Bang for Your Buck What can be challenging for Mexico’s peso can be especially beneficial for your American or Canadian dollar. A strong dollar stretches further, allowing Americans and Canadians to get more bang for their buck in Mexico. Examples include more affordable imports and services, the chance to travel or live abroad even if a little later. But that’s not all. A strong dollar means that savvy real estate investors can buy more when it comes to carving out their own piece of paradise in beautiful Mexico. Whether you’re considering a dream home purchase, a piece of land, or an addition to what you already own, the time is now to make your real estate move. Mexico will bounce back and it will bounce back strongly. The advantageous exchange rate won’t be around forever. This also affects renters in a positive way. They can scoop up more favourable living spaces in desirable locations for less money. To better understand what your American and Canadian dollar can do for you, let’s consider two examples: Example 1: Renting a Home You found a spacious, fully outfitted condo to rent in a coastal destination. It costs 10,000 Mexican pesos a month. In September 2019, the exchange rate was 18:1. You would have had to exchange $555US to pay the rent. Today, you would have to exchange about $400US. That’s about a 28% discount! Example 2: Buying a Home You are ready to buy something special, maybe a 2-bedroom/2-bathroom coastal home. It is in a gated development, has a pool, and is only a 5-minute walk away from the beach as well as markets, shops, and restaurants. The asking price is 2,000,000 pesos. Using the same September 2019 exchange rate, you would have had to pay $111,111US. With today’s exchange rate, you would only need $80,000US. What a deal! (And our buyers thought so, too, as this is a real-life example from our collection of listings.) Example 3: Buying in USD Now I am sure you are saying “Wait a minute, much of the Mexico real estate market is priced in USD”. And you are not wrong. We have listings in 3 currencies, USD, CAD and MXN, however often property is priced off of the world USD currency. Huatulco Mexico specifically is a very Canadian driven market and therefore many developers and sellers are offering reduced prices, incentives and/or promotions to make their property more desirable for the Canadian dollar and USD buyer, making it the right time to invest and take advantage of this timely opportunity before the market changes. Now add in the amenities and services needed to maintain your new home. These can include help with the cooking, cleaning, lawn care, and property renovation. With such a strong dollar and great exchange rates, your hard-earned money can get you more than you could ever hope for in your home country or other retirement destinations! To learn how a strong dollar can help you with real estate in Huatulco, Mexico, contact us today. buying property in mexicoHuatulco Mexicoinvest in mexicostrong dollarstrong economyus mexico strong dollar 0 FacebookTwitterPinterestEmail Brent May Brent May is the GM and Founder of Mexico Living. He is highly motivated and strives for excellence in order to provide the best service possible for foreigners buying property in Mexico. He understands some of the frustrations people may have while searching for a property in paradise and has learned from his own experiences buying and living in Mexico. Brent and his wife are grateful for the opportunities they have and to be able to live in a place most people vacation in. Brent's extensive knowledge and experience in the buying process will leave you at ease while buying property in Mexico. previous post Fishermen in Oaxaca Give Away their Catch to Needy Families next post Mexico’s National Museum of Art You may also like Top Emerging Real Estate Markets in Mexico: Exploring... April 26, 2024 Traveling the Super Highway Barranca Larga-Ventanilla: Oaxaca City... April 24, 2024 How to Invest in Mexican Real Estate: A... April 17, 2024 Discover the Costa Chica de Oaxaca April 12, 2024 How To Conserve Water in Your Home in... April 10, 2024 How to Permanently Import Your Vehicle to Mexico April 3, 2024 How to Achieve Work-Life Balance in Mexico: The... March 27, 2024 How to Calculate Your Daily Cost of Living... March 20, 2024 What Sets Puerto Escondido Apart from Other Markets March 15, 2024 How To Know Which Mexican Visa is Right... March 13, 2024 Leave a Comment Cancel Reply Save my name, email, and website in this browser for the next time I comment.