Baby Boomers in Mexico

Baby Boomers in Mexico

I was recently reading an article written by Gary Thomas, the 2012 president of the National Association of Realtors.  The article mentions a survey by NAR about homebuyers in the US.  Here is what the survey found in 2011;
–  37% of recent buyers were first time buyers which was a drop for 50% in 2010.

–  41% of buyers and 39% of sellers got their agent through a friend’s referral or family friend.
–  About 50% of home sellers traded up to larger and more expensive homes.
–  The average discount on a home’s price was 5% and 61% reduced their price at least once before selling.

What stood out was that home buyers are:

  • Older
  • Have higher incomes
  • Are more likely to be married

Naturally, those who can afford to spend more are generally older and have higher incomes.  In fact, the median age for overall home buyers rose from 39 to 43.  The number of married couples buying homes rose 6 percent, while purchases by singles and unmarried couples were slightly down.

When I compared this data to what I have seen with our company clients I find that;

–  About 90% of our buyers are first time buyers.
–  80% of our seller clients were already clients and 20% come from referrals.  Regarding buyers using the company approximately 65% come from referrals.
–  85% of our buyers are married or in a serious relationship and anxious to start a new chapter in their lives.
Much of the difference in the two sets of statistics lies in the fact that we are a vacation resort and retirement community here in Puerto Vallarta.  Our buyers are looking for a great lifestyle with a low cost of living and great healthcare nearby.  They want fun things to do, they want to donate time to important causes and charities, and they want to enjoy some of life’s simple pleasures like social relationships and a high quality of life.  That is what makes Puerto Vallarta such a great destination for anyone looking to make  a wonderful change in their life or to find a place they can call home.
Carl Timothy,  President – Timothy Real Estate Group

Timothy Real Estate Group – An innovative company setting new standards in Real Estate sales and services has the most professional and experienced Realtors in the Puerto Vallarta area who understand the intricacies of Mexican Real Estate ownership, the local market, Puerto Vallarta property codes and regulations and financing.  The Timothy Group uses that knowledge to provide a sound analysis on every aspect of property ownership. Timothy Real Estate Group is known for professionalism and experience and they bring this to every transaction they work on for the benefit of Real Estate investors and developers alike. Ask about our Real Estate Listings