Hello all,
Some background: My wife and I are 27y/o from the Midwest, she is a Mexican Citizen with residency in the USA (here since 8 yrs old) and I am a born US citizen, Pakistani by origin with basic conversational Spanish down.
My wife's grandmother in Mexico is selling a small 1BR house with a larger lot around it, in Rosarito. It is in "Benito Juarez", near Federal Highway 1. She is selling it for $50,000 and it's something I'm possibly interested in buying from her. I should have more than $50k saved by the end of the year, and currently am saving at about a rate of $10k/year (to give an idea of what kind of impact this would have on my finances). Another option may be to give a high % down payment, and pay the rest off gradually.
I'm wondering if this would be a good investment opportunity given our background and other information mentioned.
In short, I would like to know what people from the area (especially American expats) think:
1) Is it a good place to live? In terms of safety, proximity to important things, etc.
2) Is it in a good place to possibly rent out as a vacation home?
3) Being that we live fairly far away, is there any risk of squatters seeing an empty property and causing problems?
4) Being that we are fairly far from retirement, is it worth getting and holding onto now, in hopes that value will grow in the future, or even just be a good place to retire? Of course, the answer to #2 would affect this question.
I don't know what other information or questions to include in order to determine if this is a good consideration to make, so please let me know if you have more questions, or if you have any information I didn't ask about.
Thank you!