Everyone interested in retiring or investing in vacation home in Mexico needs to know the costs involved in operating and maintaining the property.
Many people will agree that the ideal retirement scenario is November to May in Mazatlan and somewhere cooler June through October. Apart from having the best of two climates is also makes a lot of economic sense as well.
In Mazatlan the average winter temperature is in the mid 70's. There is no heating in the homes and there is no need to buy expensive winter clothing.
Propane which is used for the gas stoves, gas dryers and water heater. The cost of gas for average use is about $20.00 USD per month.
Electricity is inexpensive in the winter months as there is no need for air-conditioning. The monthly average from November through April is about $50.00 USD per month. In the summer it can cost from $150.00 USD or more to aircondition your home.
Water is reasonably priced all year round and the bill for the average family would be less than $5.00 USD per month.
Telephone charges run from $15.00 to $20.00 per month but there is now a local charge for each call after 90 calls per month. Also there is now the option of getting a cellular phone that you can use only when you are here.
Domestic Employees: The cost of a full time maid (6 days a week) runs about $75.00 USD a week or on a part time basis will cost about $3.00 an hour. This includes everything from washing windows to cooking meals. Some foreigners feel uncomfortable having help in their homes but believe me, when it comes to sweeping and mopping the miles of tile floors you'll be very grateful. These employees can also help you learn Spanish and will be your window to the Mexican Culture. A word of advise: Full time employees should be registered at the Mexican Social Security which gives them access to benefits such as health insurance for their immediate family, day care centers, pension plans and government low cost housing. The cost is approximately $50.00 USD per month.
Property Taxes: The yearly property tax for the average 3 bedroom home in a good area is about $200.00 USD.
Trust Fees: To own property in Mexico near the coast or the borders, foreigners need to establish a Bank Trust. The yearly fee is about $400.00 USD.