It's Time For Canadians To Cash Out And Move To Lake Chapala
- Michaela & Ricardo
- Mar 25
- 4 min read
Updated: Mar 25
A recent trip to Vancouver has reminded me how unaffordable Canadian housing prices have become and what a gold mine Canadians are sitting on. How much longer these prices can be sustained is yet to be seen but this could be the right time for getting out of the housing market in Canada.
If you didn't know, Vancouver, along with Toronto are ranked in the top ten cities most unaffordable, largely in part due to to housing prices. Vancouver (where I am from) sitting at No. 3 and Toronto at No. 10. (https://amp.cnn.com/cnn/2024/06/14/business/house-prices-impossibly-unaffordable-intl-hnk)
The national average price (houses, condos, raw land, parking spots, cottages) sits at $714,300. ($520,510 USD). Five years ago, when nobody believed a global pandemic was possible, the number was $454,000. ($330,829 USD) (Garth Turner Weblog https://www.greaterfool.ca/)
With virtually all the homes having a mortgage, Canada has become one of the most indebted countries in the world https://betterdwelling.com/canadian-households-now-the-third-most-indebted-in-the-world/
For a really chilling overview of the Canadian economy and housing crisis you can watch on Youtube How Canada's Economy Became The Most Pathetic In The World. If you want to fast forward to the housing situation it starts at 9:55 in the video.
So what a great time to sell in Canada!! My best friend thought too and and is in the process of selling his ordinary subdivision home just outside of Vancouver for 1.2 million Canadian dollars.
My friends home is 39 years old, sits on a 7710 sq. ft. lot and has 2508 sq. ft of construction over 2 floors with an excellent view of Mt. Baker.
After only 5 weeks, and numerous offers, he has an accepted offer of 1.159 million ($863,600 USD taking the current exchange rate as of the time of his sale).
So it got me to thinking, what could he buy for in Lake Chapala for $750,000 - 850,000? Let's take a look.
For only $749,000 USD you can own this custom built gem in prestigious Rancho del Oro. It's a 2 bedroom/2 bath home with full casita, 4 years old, excellent lake views and pretty much every bell and whistle you can imagine, including solar! Extremely well located in West Ajijic and only a 30 minute walk to Ajijic Centro.
$785,000 USD will get you this mammoth 4 bedroom/3 bath estate on a 700 sq. meter lot in the most sought after community of Ajijic, La Floresta. Comes fully furnished too!
At $795,000 USD, is this gargantuan 3 bedroom/4 bath home sitting on over a quarter acre of land and almost 9800 sq. ft of construction! Located in the premier community of Rancho del Oro just outside of Ajijic village, you won't lack for space in this home!
Homes like these would cost 3 million plus in Canada, so if you are a Canadian you should definitely be contemplating cashing out of your ordinary subdivision home and owning your very own estate in Lake Chapala! After all, you deserve to live your best life in your retirement!!
Now if you are like my friend, he wants to get some equity out of his home and pocket $300,000 USD ($428,000 CAN). So what can he purchase at $550,000 -600,000 USD?
Starting at $571,000 USD he could opt for a new build (as he did in Canada) with jaw dropping views of the lake and mountains and almost 2700 sq. ft of construction plus built in hot tub! Priced in pesos this one has become a super deal lately with the falling peso against the dollar. (this was recently $604,000 USD!)
Or at $575,000 USD there is this 5 bedroom/5 bath monster with eye popping lake views in well located Chula Vista Norte.
Looking for a touch of Mexican with a large yard just outside of Ajijic village? Here's a treasure in Villa Nova with 3 bedrooms/2 baths at the jaw dropping price of only $569,000 USD!
I mentioned above, homes costing 3 million plus in Canada (2.1 million USD), and a search of the internet confirmed that there are lots and lots of them! Let's finish this article by taking a quick peek at a home in Vancouver versus what you can get for the same money in Lake Chapala. I hope you are sitting down for this.....
Vancouver, Canada
Built in 1953, you can own this 2676 sq. ft., 3 bed/2 bath home for 3.390 million Canadian Dollars (2.374 million USD), and pay annual property taxes of $11357 CAN for the privilege of living in Seattle type west (wet) coast weather.
Ajijic, Lake Chapala, Mexico
OR.... For the same price, you can live in paradise in this 8 bedroom/10 bath home with 13724 sq. ft. of construction on over 2.5 acres lot and jaw dropping views of Lake Chapala For those who have to have it all, this one is for you!
Note: Your investment in real estate is safe in Mexico and can be Willed to your children or other parties. You are purchasing deeded property and signing documents at closing guaranteeing you (as a foreigner) the same rights as a Mexican Citizen regarding property rights. Contact us for more information!
For information or to request a viewing of any of the above homes please contact us for a showing.
Get all the information you need on moving to Lake Chapala! Whether you are a first time visitor or seriously considering relocating to Lake Chapala, this book is for you!
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Email: heckertricardo@gmail.com
Ricardo, Michaela, Katie & Minna are your FULL SERVICE Real Estate Agents and Relocation Specialists.
Along with our network of area Professionals, we help guide you in your Retirement Journey to Lake Chapala, Mexico.
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