Nestled at the tip of the Baja peninsula, Cabo San Lucas is an absolutely beautiful waterfront city that is one of the tourism capitals of Mexico. It’s also one of Mexico’s hottest real estate markets, with a population that has grown from a little over 16,000 in 1990 to more than 81,000 in 2015. That’s an enormous level of growth, and all signs suggest that the number of residents is even larger in 2021. Americans are moving to Cabo at a rapid pace – but there’s still plenty of room for you. Here are some of the reasons why buying a home in Cabo, Mexico might be the right choice for you.
Cabo Has a Strong Economy and Housing Market
Living in Cabo, you’re going to enjoy the benefits that come with living among some of the best economic conditions in Mexico. That’s especially true as we enter the second half of 2021, and the global recovery begins to pick up steam. Although the COVID-19 pandemic hurt tourism everywhere, Cabo has been among the first regions to recover because it’s always been a top destination for American tourists. It’s highly unlikely that there will ever be a time when tourists don’t flock to Cabo, and that means the economy is on solid footing. It also means that Cabo real estate is a great investment that should appreciate in value. It is still possible to find a good deal on a home in Cabo as the post-COVID recovery continues, but you’ll need to act quickly to have any chance of grabbing a property at a lower-than-normal price.
Your Money Can Go Further in Cabo
The COVID-19 pandemic upended lives around the world and forced many people to make major career changes. Many companies transitioned significant numbers of employees to work-at-home arrangements. Some people lost their jobs and made the best of their situations by starting successful businesses of their own. If you earn your money online, you enjoy the perk of being able to work from anywhere.
Meanwhile, inflation has been one of the biggest economic themes of 2021. Manufacturers are paying more than ever for raw materials because there aren’t enough shipping containers to move things around. They’re passing those costs on to consumers. That and other factors have combined to reduce the purchasing power of the dollar. Even if you’re fortunate enough to be earning a little more these days than you were a year ago, it probably doesn’t feel like it because you’re paying more for gas, food and other essentials.
So, what’s the solution for inflation? One solution is to move where your money goes further, and the U.S. dollar has performed very well against the Mexican peso for more than 25 years. While the dollar was worth around 3.3 pesos in 1994, it’s worth around 19.9 pesos at the time of this writing. Over the years, the dollar has consistently outperformed the peso, and there’s no reason to believe that it won’t continue to do so.
Cabo Is an Easy Place for Americans to Live
If you’ve never been to Mexico before – maybe you’ve never even traveled to a nation in which English isn’t the primary language – you might assume that buying a home in Cabo would be just a bit too much of an adventure for you. After all, how can you possibly move somewhere if you don’t speak the language? That, however, is precisely why Cabo is such a wonderful home for American expatriates. Since Cabo’s primary claim to fame is that it’s one of the world’s best destinations for American tourists, it’s extremely common for people there to speak English. Although it definitely wouldn’t hurt for you to learn a little Spanish – something that you’ll probably do quite quickly just by virtue of living in Mexico – it is entirely possible to get by just fine in Cabo without knowing a single word of Spanish.
Cabo isn’t far from the United States, but it is in another country. Since it’s one of Mexico’s top tourist cities, the shopping and dining there are absolutely world class. Nevertheless, you may occasionally find yourself craving some of the familiar shopping and dining experiences of home – and once again, since Cabo caters to American travelers, you’ll find no shortage of familiar experiences there. For day-to-day shopping, Cabo has a Walmart and a Costco. Cabo has a vast selection of American-style restaurants along with some incredible pizza spots. You’ll even find some familiar chain eateries including Nobu, Ruth’s Chris, Hard Rock Café, Dairy Queen and McDonald’s.
You’ll Never Be Bored in Cabo
So far, we’ve focused on some of the practical aspects of buying a home in Cabo. Reading this article, you’ve learned that owning real estate in Cabo is a great investment. You’ve learned that you can definitely live in Cabo and have a great experience even if you don’t speak a word of Spanish, and you’ve also learned that living in Cabo will make you feel like you have a lot more money.
What, though, is there to actually do in Cabo? The answer to that question is: a lot. Cabo San Lucas is a top tourist destination, after all, and a city becomes a top tourist destination by making sure that no one ever runs out of things to do.
Cabo is a positively epic place to live if you love the ocean. It’s an oceanfront city with expansive beaches, great surfing, legendary snorkeling and superlative sport fishing. If you enjoy eating what you catch, you should take note of the fact that Cabo is a great place to catch wahoo, which is incredibly delicious. Cabo is also an excellent place to spot whales; humpbacks travel to the warm waters around Cabo to give birth during the early months of the year.
Being a resort city, Cabo also features no shortage of night life. With evening activities ranging from sporting events and concerts to pounding nightclubs, Cabo offers no shortage of opportunities for taking in great entertainment and mingling with visitors from around the world.