Merida, Mexico is Too Expensive?!
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- Опубліковано 14 січ 2024
- In Merida, Yucatan, Mexico prices have started to increase, and those who are in the know believe it has to do with a plethora of things. Real estate, food, and even travel to Merida are more expensive than ever, and today we're going to discuss why.
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Quality Description tags: #Mexico, #Merida, #Yucatan, #RealEstate, #MeridaHomes, #parque #patreon
Peace!
Everywhere is getting more expensive. We can still go out for a taco dinner and spend about $10 for a dinner for two. You can also go to Nectar and pay $200 per person. Your choice on how you want to balance your spending.
Exactly right!
😂or stay home & boil some Ramen Noodles $1 (used to be 30 cents)
My favorite professor taught me the greatest lesson: "Nothing is constant but change".
That is a great lesson, and well put.
Seems that your parents would have taught you that at about age 10.
Living in Mérida, Mexico, is a delightful experience characterized by its rich cultural heritage, vibrant arts scene, and friendly community. The city's colonial charm is evident in its well-preserved architecture and picturesque streets, while its modern amenities ensure a comfortable lifestyle. Mérida offers a unique blend of traditional Yucatecan cuisine and contemporary dining options, making it a food lover's paradise. The warm, tropical climate allows for year-round outdoor activities, and its proximity to stunning beaches and Mayan ruins provides endless opportunities for exploration. Moreover, Mérida's low crime rate and affordable cost of living make it an attractive destination for both locals and expatriates seeking a high quality of life. Great video, Alexander Howell!
Very well stated, and thank you so much!
Thank you Alex! Really well done overview. My understanding of an additional contributing factor is the current infrastructure development (Tren Maya, La Plancha) and the impact it is having on driving the cost of labor resulting with architects in competition for labor with the government.
You are 100% correct! We noticed this even during our construction, so I have no idea why I didn't mention it. However, we didn't have to deal with La Plancha at the time, but I was speaking with someone just the other day that mentioned the delay in his construction was due to local labor being pulled in several directions. Great catch!
I don't care what others think. I moved to Merida and am living my life. What others think is thier problem or promotion.
That's a great way to look at it! Merida is an awesome place, and just like others have said - everywhere else in the world has had to deal with inflation. It's not just a Merida problem, and I love it there no matter what!
Im mexican and I welcome all foreigners that come to invest in our country and that come with good intentions. Ignore the bitter ppl !!
Great comment!
That's very true, the houses in Centro are really expensive now, we bought one to remodel in Barrio San Juan on summer 2020 and we already felt it was expensive, but in hindsight we were lucky to jump back then, now it would just be out of reach. Great content and keep it up!
Thank so much! You're definitely right where we are. My wife and I just spoke the other night and said even though it was a stretch at the time, we're really happy we finished the entire build. We'd thought about waiting for the second story, but it would have been tens of thousand more to do now!
All the best!
@AlexanderFromKC that's where we went wrong, we decided not to take loans and keep on saving to do the remodeling slowly, but now building materials are through the roof and the exchange rate is killing us 😞, sometimes you win and sometimes you lose, but overall really glad we bought it. Hope you make more content on how you run your airbnb operation, looking for tips and guidance!
I'll keep making content about that, I promise! You're not the only one who's run into that situation, and even with ours, we hit a bit of that towards the end. Just keep going and you won't regret it!@@jcosio87
Hi, nice video. Where did you get the statistic of 2nd safest city in the North America?
See this article ( www.theyucatantimes.com/2019/09/merida-is-number-21-in-the-worlds-safest-cities-ranking-2019/ ), but it's CEO World Magazine that ranked it this way. I've seen several people push back on this, but I can tell you from my own experience in traveling that I agree with it. We've traveled all over the world, my wife even more so than myself, and I've never felt uncomfortable in Merida. Not saying that it couldn't happen, but my experience has been incredible.
What do you think about the prices in Merida, Mexico?
I think if there's red plastic chairs it's about 4 dollars for a huge plate of food
I live in Vancouver Canada. A 680sq ft. 1 bedroom condo is $750,000. I shopped new 2 bedroom 3 bathroom 1700 sq.ft places in Merida for $260,000 Canadian.
What's cheaper in Merida than Vancouver? EVERYTHING. I'm retiring to Merida in 6 years.
This is my biggest point, so thank you for stating it with personal experience! Everything is more expensive right now, and there is definitely a conversation to be had about foreigners (like us) making things a little bit more expensive... that's not the biggest issue though. We were lucky to build when we did, but to build our house in Merida, even in Kansas City, would be crazy. My biggest piece of advice? Buy right, research where you shop, and buy solar panels. If you do those things you'll do great. Thanks again for the comment, well put!
@@AlexanderFromKC And thank you! Loved the video. Subscribed.
I purchased mine in Santiago it’s 75% done can’t wait we still sending $$ almost almost done
Congratulations! I know the journey seems long, but you're going to be so happy when it's complete. Santiago is a great area too!!
Really enjoyed this video and your perspective. As a retiree on a fixed income, it will be easier to cope with inflation and cost of living in Mexico than here on the East Coast. I welcome the heat, we are yo-yo ing from 21° to 74° within a couple of days & everyone is getting sick. Hoping to escape the toxic environment here as well. I think it will be wonderful - once I finally get there...with pets.
I agree with you about the heat compared to the temperatures here. Our temperatures are swinging 50 degrees in a day, to 70 degrees in a week. Once you're down there the heat just becomes your life, and you get used to it. It normally takes me a week or two before I'm fully acclimated, but then I'm good. Good luck in the future - sounds like you've got a plan!!
@@AlexanderFromKC 🙏 I have to escape! After living and working overseas for 40 years, the situation here is intolerable.
(Nevertheless...GO CHIEFS🍀🤞)
Go Chiefs indeed!@@jvahl8747
Subscribed
Thank you and glad to have you!
Great Information Brother🇲🇽
Thanks so much, Robert! Hope you're doing well my friend!
Even with the astronomic increase in pricing, we can't imagine living anywhere else than Merida.
I completely understand that. Unfortunately, prices are going up everywhere, so no matter where you go...
We have been living here for over 6 months and love Merida but yes getting more expensive then we noticed 5 years ago when we visited when we lived in Isla Mujeres. That being said the secret is out about the city so that and it has gotten more expensive all over north america.
Exactly right. We wanted to buy in Isla originally but the prices got out of our range for what we wanted, but luckily we found Merida. Prices are going up here as well, but now we're in a situation where we don't want to leave so worrying about the prices isn't (as much of) a concern now.
Yes same here, we love what it all has to offer with lots to do, eat etc. It's a real nice mix of old culture, new city and beach not far as well. @@AlexanderFromKC
Sounds like you're living the good life!@@TurtleTortuga29
Did you put a/c in the house you are building? Are there golf courses? I'm looking to buy a property where I can see the sunset from my house?
We put AC units in almost every room of the house. While you adapt pretty quickly to the heat, it's nice to be able to turn on the units and enjoy a quick cool down!
There are one or two golf courses, but they're in planned communities north of the main city, or Centro. They look really nice, and many expats seem to find those areas a nice transition.
If you want to see the sunset, I would suggest finding a place that's a bit taller. Merida is in the northern part of Yucatan, so viewing southwest or west you can definitely view a sunset but as flat as it is you'll need the right vantage point. I personally like the view from the rooftop bar, Kioyu Sky Lounge, but we don't necessarily get to watch it from our house.
@@AlexanderFromKC Thanks for your response. I appreciate it. Still, if I am going to make a move I have to have a sumset view from my home. Still looking.
CAn we connect? We live in KC too and want to move to Merida and would like to hear about your experience!
Absolutely! Just email me directly at alexander@alexanderhowell.com or text me at 816-727-7740, and we'll setup a call.
Great points! Agreed.
Thank you!
The exchange rate has added another layer of cost for Americans. Inflation plus exhange and your looking at 20% over the past year. Ouch!
You’re absolutely right! It nipped us a bit at the end of construction, but after that it went crazy.
Absolutely! Moved to Chicxulub Puerto Jan.2020 and since the end of the pandemic the Mexican Peso has grown tremendously in relation to most other currencies. It has taken a big bite out of our buying power, couple that with the worlds inflation and our buying power has dropped 25%. Yet, it still beats the hell out of trying to live in the States on a retirement income.
No doubt about that. Even with the increase in cost, it's better than most places up north. That and living close to the water ain't bad! :)@@johnswanson7793
México is obviously getting wealthier so that is driving up demand.
That being said, every country is printing money to fund govt, especially the USA, so thats definitely causing prices to increase.
Yep, I agree with you 100%.
I can see being upset over gentrification because large commercial developers came in and purchased large regions as rental properties and tailored them to wealthy people. But purchasing a home with the intent to live in it and renting it out in the meantime to cover costs is not the same. Another factor is you are spending your money in the local economy. To build your home you needed contractors, laborers, furniture and all that comes with a home build. Now you use local rental agencies and service providers to maintain the rental. Those dollars go into the local economy not your home economy. The thing I found interesting was the 20-year view of the dollar to peso comparison. Covid caused a spike but before covid there was a steady upward trend. In 1994 the Peso was 4.5 to every dollar and that gap continued to grow over those 20 years. Over the last 4 years that downward trend was a normalization after covid. So, I guess it's all about perspective.
That was a very well thought out reply, and thank you for it. The relationship right now between Mexico and the United States is fractured but only if you read the headlines on 24 hour cable news. The truth of it is that Mexico is currently the United States' largest trading partner, and is also becoming a much stronger economy day-by-day. So you're absolutely right in challenging my premise about where it will go long term. It's a more macro issue than I could ever hope to cover in a short video, but I love having different perspectives because only time will tell!
Thanks again for your comment, it's incredibly thoughtful and appreciated.
Look at the peso vs the dollar. The peso is getting stronger again since the pandemic. This time is a bit stronger against usd than pre pandemic. Mexico manufacturing is growing since. Middle class is getting a little stronger. That's what I found on this subject.
You're not wrong. I do wonder what direction the Peso-Dollar will go in the coming year(s) because too often people forget that Mexico is a top 15 economy and our second-largest trading partner. It's currency should be strong, but the dollar lost a lot over the past few years, so I guess we'll see.
❤
Heart to you too!
U took a whole bunch of money and dripped it on a property which u rehabilitated. That is the most direct form of investments.
You are 100% correct. Every investment has it's risk, but fortunately for us we want to be in this one LONG TERM!!! Thanks for your comment!
On what you will expect it will happen with so many foreigners coming rent will be $2,000 in 225 and one taco will be 50 pesos and everything will be super crazy expensive like in Manhattan because it's just simple logic
I think what you're not bringing into this discussion is the fact that most of the people moving into (and investing in) this area are Mexicans from different areas of the country. Immigrants/ex-pats account for very little, but everyone has a hand in the increasing costs, for sure. Add-on to that the inflation that's happening everywhere in the world, and you have a recipe for... well, exactly what we're dealing with here. All of that to say, don't just blame "the foreigners"... I think there are only 15k expats from the USA here in Merida in a population of around 900k.
I keep trying to tell Jose that ! -- Mexico is a lost cause for saving $ if you want more from your USD - especially for the future !!! -- Inflation for US expats is very real when compared to SE Asia. -- If the excruciating heat & humidity don't bother you - I highly recommend Siem Reap as a far superior retirement destination if you get monthly USD to live on. The city is beautiful the people are the friendliest in the world - and get this - they speak English !!! And they even accept USD. - - - INTERNATIONAL FOOD CHOICES are available + cheap delicious street food can be had. 50 cent beer even. + No visa requirements / qualifications only $180/year cost. -?- (( What the hell - is not to like ? )) --- Rents are as low as $50/mo. for a room on up to extravagant. --?-- Merida - - Mexico you can be certain inflation is going to increase must faster than some other countries in the next few years. ( And if your like me Spanish is a pain in the ass. ) But I'm old and don't need the frustration in daily life for the essentials. - - - Just trying to help provide a great alternative to both the US & Mexico ! - - - The Philippines is another English speaking friendly country where you can live up to 70% less than the US !!! -- AND -- a 3 year tourist visa is available for US expats w/o having to leave. - - - Mexico SUCKS compared to some other choices. (Mexico is only 40% less and getting less real fast)
You're not wrong. I actually have a very good friend that's living in the Philippines and he seems to absolutely love it. As far as Siem Reap, I've always want o travel there as it looks beautiful though I admit I was unaware of the other benefits you described.
The thing with Mexico is that there are so many areas, and it's still so close to the United States. Inflation (and the currency conversion rate) has definitely been an issue with regard to it's affordability, but I don't see that remaining the same for an extended period of time. That being said it's a balance of cost versus convenience at this point. You'll still save moving to Mexico, but it won't be as dramatic as moving to the areas you are talking about. The other balance is being close to home.
Makes no difference what it's like, or what you think about living in a cheap hellish Third World country. Not everyone is poor, not everyone is failing. Most foreigners, by a very large margin in Merida own homes and live as they did in the States or the hockey place to the north. Life for the vast majority of foreigners bear no resemblence to anyone seen in the Lametube bubble.
@@meatgravylard 🤣 you are so full of entitled crap ! -- 20,000 expats - many from Canada as well as other European countries and Australia only live there in Siem Reap half of the year - far from poor ! Not everybody is poor who is retired there. A cheap 1 hour flight to Bangkok for fun or inexpensive world class health care.......
I'm not sure how to respond to this, but I wish you all the best.@@meatgravylard
Can't we all just get along? @@frankkluz9787
I'm just thinking of ways to laugh at Mexico
Well, that's a terrible thing to do for an amazing country, but we all have our weird quirks.
These videos are kind of ridiculous. Americans/Canadians move down there in droves and are whinning about how expensive it's gotten?! These jokes write themselves😂😂
And yet here you are?
@@AlexanderFromKC I'm a content resident, and I like to watch content from others in the area, but it is silly to complain about a problem that one is also contributing to.
Five minute talking and learning nothing😂
Thanks for the comment.
I don t give a shit lol
Well ok then. 😐