If you are prepared to learn Spanish you can check out Ecuador,Bolivia and Chile.

Chile is the most stable, democratic and least corrupt of the lot. They also have wonderful lakes and a mediterrainean climate. Downside is that it is a little more expensive than the 3rd world countries that are so cheap. It is cheaper than the US and healthcare is really good.

We did exhaustive thinking andsearching and then visited a number of candidates. I encourage you to do the same! Good luck!

Suzie Hammond is the author the eBook system; I am Not Sure Where I Want to Be -But it's Not Here (Easily Find Your Ideal Relocation Destination)
http://www.goodwriter.info

Blog, FREE eZine & Free Special Report- http://www.goodwriter.info/Blog/index.html

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You need to supply more info if you want to get suitable answers.

What is a 'fortune' specifically? Do you want to rent or buy? What do you consider important other than waterfront? Why a lake? Will oceanfront not be acceptable?

The more relevant information you provide, the more relevant any responses can be.

If you have $50k to buy or $500/mo to rent, that information alone will narrow down your choices signifigantly.

Where are you going to be coming from? Are you willing to fly 12 hours to get there?

What do you expect in terms of infrastructure? That can vary tremendously from place to place. Power outages, unreliable internet service, poor medical facilities, the list goes on.

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Thanks OldPro. Clearly I'm not! Infrastructure and healthcare are important as is the distance.
We can only afford 125000 or less but we can afford a rental up to 1500 per month and could even go higher if necessary. I'd prefer to eventually own since it's more personal and homey. We have a lovely home in The States that we want to keep and live in for half the year and that's the problem; it ties up our funds. My husband prefers lakes, but it would have to be a clean and swimable one. He would consider beachfront if that isn't possible. The arts are also important to us so I guess we're asking a lot. I've heard that the Merida area. has it all, other than the lake. Swimable water is the key.
I hope that clarifies things a bit better.
I know nothing about the possibility of partially financing a foreign property, but that would up the house price considerably, if it's something we could do. Thanks so much fir the education.

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More info equals more insight for the reader and that is always a good thing.

My first thought is that you should rent not buy. You can always buy later if you get to a point where you believe that is what you want to do. Have a read of a new thread I started. That explains some of the reasoning.
http://www.expatexchange.com/expat/index.cfm?frmid=260&tpcid=3407026

There are also other practical considerations like property taxes and other taxes you may have to consider. The difficulty of getting clear land title in some places. There is an issue in some countries of squatters rights. It can be very difficult and/or expensive to get them out if you leave your home unattended for a period of time. The list goes on. Being a part-time resident can involve different factors from being a full-time resident. Being a 4-6 month per year 'tourist' is a whole lot simpler.

You mention Merida, look at this property for rent. It was the first hit I got on Google by searching for 'Merida long term vacation rental'. http://www.tierrayucatan.com/details/en/003369

A swimmable lake is probably much harder to find in most of Central and South America than beachfront is. Simply because most people want beachfront, not lakefront and so most properties are built where the demand is.

I would suggest taking a week or two vacation package to Merida or wherever else you might be interested in and looking for a property to rent longer term while you are there. Pictures can lie and I always prefer to SEE what I am considering renting.

Then you spend your first winter living in the property you have chosen and see how it goes from there. You never know until you try it, just how you will like it. When I see tv shows like House Hunters International of people buying a vacation home during a week or two visit to a place under circumstances similar to your own, I shudder. That to me is the height of stupidity and ignorance.

As for financing a house purchase, I would stay well away from that idea. Both for the reasons given above and because of the possibility of adverse exchange rates.

Exchange rates become very important to you when you have income derived in one country and are living in another country. Many Brits discovered just how important when the exchange between the UK Pound and the Euro went against them and they suddenly found they could not afford their lovely 'villa with a pool' in Spain any longer.

Exchange can vary by a considerable percentage over relatively short periods of time. Just look at the difference in exchange with your neighbour Canada. It has varied up and down by 30% over the last decade or so. When it is to your advantage, that's fine but when it goes against you it can be a disaster. Think about trying to allow for a swing of that kind of magnitude in a mortgage payment.

So my advice is don't buy rent, don't think of it as you must find THE place your first time out of the gate. Where would you like to visit for a while and 'try before you buy'.

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