Why Central America? Boomers Seek Adventure And A Place In The Sun By Tom Kelly
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, sweat, 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 everyday, 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 wished 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.
Tom Kelly is a real estate columnist and radio show host with 33 years of experience as a professional journalist providing consumer tips and helpful hints as well as explaining concepts and terms in a friendly, understandable style. His two books, Cashing In On a Second Home in Mexico and Cashing In on a Second Home in Central America are considered indispensable guides to Latin America real estate purchase south of the border.
