Читать книгу Cashing In On a Second Home in Central America: How to Buy, Rent and Profit in the World's Bargain Zone - Tom Hammond Kelly - Страница 6

Boomers seek adventure … and a place in the sun

Ian Richardson, a southern California mortgage broker, was burned out. It was time for more than a vacation – it was time for a full-scale review of how, and where, he spent his time.

“I stood on a piece of property in Malibu that was absolutely gorgeous,’’ said Richardson, 52, a husband and father of two teenage girls. “I thought that maybe I could slide out of the pressure cooker and work out on the deck of this place with my computer. The trouble was, I would be creating more pressure for myself just trying to pay for the property.’’

Three years ago, the millions that Richardson would have borrowed, sweated and spent on the Malibu piece turned into a $180,000 waterfront lot in Costa Rica. He did not have to pay cash because the seller was willing to carry the mortgage, but Richardson had enough savings in the bank and bought the parcel free and clear. He plans to build a second home in a few months.

“There was no way I was going to put one nickel into Central America real estate,’’ Richardson said. “I also didn’t want to purchase in Mexico because I didn’t really understand the Mexican trust. If I bought in another country, I thought I would fear for my life every day, the agents would try to take me to the cleaners and all the governments would be corrupt with standing armies.’’

One visit not only eliminated his anxiety and questions, it rejuvenated his resolve to spend more time with his family and telecommute as much as possible.

“I wish I had done it five years sooner,’’ Richardson said. “Not only has the property appreciated like crazy, but my family loves being there. Besides, with an Internet connection, I can do a ton of work from just about anywhere.’’

Why Central America? There are so many places to start … yet Ian Richardson provides a prime example. Let’s check his reasons for making a second-home move to Central America. Topping the list are affordability, weather, increased airlift by major carriers and the rapid growth of the Internet, which has made the international market accessible to millions of consumers. More dreamers have become active second-home players because once-difficult-to-gather data is now at their fingertips.

In addition, there is more political and economic stability in the region than in years past; the U.S. dollar goes a long way; improved, inexpensive health care is available; homes and amenities often resemble what boomers retirees find in the States; and most Central American countries are rolling out the red carpet with appealing tax incentives.

While Europe has also been a popular destination for U.S. consumers to purchase second homes (were you part of the group ready to jump on a plane after reading Under the Tuscan Sun?), the dollar has been weak against the euro for several years and air travel tends to be more costly and lengthy to European destinations. Couple that with the number of first-generation Latino residents in the U.S. who have a particular interest in staying connected to their homeland and you have an entirely new category of potential second-home buyers.

But the wildcard in the boomer deck is adventure – it is part of their hardwiring. Not only is this the largest, healthiest and wealthiest group ever to come down the U.S. pipeline, but boomers also seek the thrill of the exotic and are very willing to borrow to obtain that experience.