June 16, 2024

The Queens County Citizen

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He buys Mexico to live there with his family without guns or armed guards

He buys Mexico to live there with his family without guns or armed guards

They say Mexico is Quebecers' new Florida, but that's even truer in the Yucatan, bordered by the Caribbean Sea to the east and the Gulf of Mexico to the west.

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“When I walk on the beach, I'd say about 80% are Canadians and a lot of Quebecers too,” says Philippe Racine, owner of a penthouse in the capital Mérida.

“This place is very popular because it is a safe destination. We are all looking for peace and quiet, we don't want guns and gangs nearby like in Cancun and many other troubled places. Merida is the safest city in Mexico and we hope it stays that way for as long as possible,” explains the 54-year-old who owns an IT company.

He also claimed that there were no armed security guards around his residence.

A wedding that takes them to Mexico

Why did Philippe Racine decide to shop for a house in Mexico?

“My daughter started dating a Mexican guy from Merida. They met in Montreal and decided to get married. So we went to visit my in-laws in Mexico and became friends. We started going there more often on Christmas and New Year's. We told ourselves it would be fun to have a second residence there after two or three years. .so we started looking and found our dream home,” he says.

The investment pays off as he and his wife spend half the year there, especially in the winter, and rent out their apartment to not only acquaintances, references and members of his family but also the general public the rest of the time. “In the summer we can rent it for $7,000 or $8,000 a month, a penthouse in a three-apartment building.”

The couple bought at the right time because when they bought two years ago, the Canadian dollar was worth more than it is today. They made a good move because of the exchange rate. “We were lucky, the Canadian dollar has lost a lot since then. It was worth 17 pesos but now it's only worth 12,” he said.

Retreat in the Yucatan

Philippe Racine also chose Mérida because the place is a paradise for fans of kitesurfing, which is similar to surfing, but you are pulled by a sail.

“I'm slowly preparing for retirement in the next few years and want to organize kitesurfing retreats and yoga retreats with my wife, that's part of my plan,” he says.

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