Strong Dollar Makes It a Good Time to Buy in Mexico Chuck Bolotin - TheStreet
go to original January 17, 2016

If you receive your income in U.S. dollars, and you're already living in Mexico, you have a substantially lower cost of living. If you're thinking about moving to Mexico but don't know if your costs will be low enough, that can be an incentive to relocate.

A 2015 Best Places in the World to Retire study, Expats: Expectations & Reality, found that nearly nine in 10 expats cited the lower cost of living as the reason for their moving. Of course, most people don't move solely because of a lower cost of living. They consider such things as the weather, safety and the availability and quality of healthcare.

But this may be a particularly compelling time to consider a move for those who receive their income in U.S. dollars. That's because of the improving exchange rate between the U.S. dollar and Mexican peso. It's becoming cheaper to buy and rent products and services in Mexico.

Let's say that you want to rent a home for 10,000 Mexican pesos a month. On Jan. 1, 2015, you would have had to exchange $674 for your rent. One year later, you would have had to exchange just $579. That's a more than 14% rent reduction solely due to the increasing strength of the U.S. dollar.

The exchange rate works favorably for people purchasing properties, as well.

Read the rest at TheStreet

Related: How to Have Your Social Security Deposits Made Directly to Your Mexican Bank Account (The Yucatan Times)

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