Best Places In The World To Retire

The most common type of construction in Chapala and Ajijic is made of bricks. Depending on the lot, you can build a foundation or you can use platforms if you are in the mountains. But overall, the houses here in Chapala and Ajijic are very strong and they are made by hand.

 

If you are buying a house that is already built, you could go to the public registry in Chapala and check the history of the house and the lot that you’re going to buy. When you...

The most common type of construction in Chapala and Ajijic is made of bricks. Depending on the lot, you can build a foundation or you can use platforms if you are in the mountains. But overall, the houses here in Chapala and Ajijic are very strong and they are made by hand.

 

If you are buying a house that is already built, you could go to the public registry in Chapala and check the history of the house and the lot that you’re going to buy. When you sell a house here in Mexico, the notary will take care of the certificate, to make sure that, when you sign your certificate, everything has been already checked.

 

If you are going to build a house in Chapala or Ajijic, you have to get permits at the municipal office in Chapala and you have to follow their specifications on the project. They will also tell you how much you need to pay in taxes for the construction per square meter based on what kind of construction you’re building. We have what is called High Construction, Middle Construction, and Low Construction. There are different parameters for each of these categories of construction. They will let you know what kind of construction you’re building based on the quality that you are planning to build. The level of quality has to do with how expensive the house is.

 

The Interlago listings that we have are nice quality constructions. They are made of red brick and not cement blocks, which is of higher quality because it prevents moisture from going into the walls. There are a lot of very nice constructions in the area of Interlago.  

 

(Foyer of an Interlago home, Lak Chapala, Mexico, pictured.)

Generally, it is heavily legislated that if you are going to build something, you have to build to a certain standard and that standard tends to be good. There are no modern methods of building here. In other words, there is no steel frame, no wooden frame, or that kind of thing. We build using bricks and mortar. The structure is still reinforced with concrete on the structural load bearing parts of the building, villa, or apartment. You would also have a slab on each layer. If it is...

Generally, it is heavily legislated that if you are going to build something, you have to build to a certain standard and that standard tends to be good. There are no modern methods of building here. In other words, there is no steel frame, no wooden frame, or that kind of thing. We build using bricks and mortar. The structure is still reinforced with concrete on the structural load bearing parts of the building, villa, or apartment. You would also have a slab on each layer. If it is a two-story house, you would layer a concrete slab across and then you would in fill with brick. You would lay and run the services and utilities by literally breaking the brick and creating a little tunnel for the electric, the sewerage, and all the plumbing.

 

Generally, construction here in Algarve is very solid.  This is not California in terms of earthquake risk but Portugal is not far away from a meeting of two of the tectonic plates in the Atlantic. The last major earthquake was quite some time ago, in 1755, it was very destructive so most of the modern buildings here are built to earthquake standards or close to it. From a physical construction perspective, you would find very solidly built properties. You will not be knocking on drywall and wooden structures here. 

 

In terms of the quality and finishing perspective, the structures here in Algarve are very good, especially the modern builds. There is a proliferation of marble in Portugal so you will see a lot of buildings or homes that were finished with marble and with big tiles, which are very modern and clean. There is a very modern look to the inside of the house. The bathrooms are modern as well, with suspended sinks and a lot of glass.

 

An average-sized property is 1/3 bigger in Portugal than it is in Spain. Sometimes the size is reflected on the price and sometimes it is not. The pricing depends on the area. We find that people remark that the residential construction here has more space than they would have expected. A typical two-bedroom apartment, for example, would be in the region of 80 to 100 square meters (860 square feet to 1,077 square feet), whereas in Spain, the average is about 60 to 80 square meters (646 square feet to 860 square feet).

 

( Modern Portuguese home, pictured.)

When you retire in Panama on the Pensionado Visa, you cannot work, but you can own a company. Me, as an example, being a Pensionado, I cannot work, but I can own a company and pay income taxes on my company’s income to the government of Panama.

 

If you come to Panama with a Friendly Nations Visa, you could own a company, but in many respects, you cannot work. Moreover, if you cannot work, you cannot have income. Hence, you cannot pay taxes either.

When you retire in Panama on the Pensionado Visa, you cannot work, but you can own a company. Me, as an example, being a Pensionado, I cannot work, but I can own a company and pay income taxes on my company’s income to the government of Panama.

 

If you come to Panama with a Friendly Nations Visa, you could own a company, but in many respects, you cannot work. Moreover, if you cannot work, you cannot have income. Hence, you cannot pay taxes either.