Real Estate in Mexico

"We used a local realtor for a while but actually ended up renting a house through a private owner. The house was across the street from one of the properties we viewed with the realtor. My husband asked one of his Mexican co-workers who knew the area and she just happened to know the owner," remarked one member in Comalcalco.

"I asked around at work, drove around the neighborhoods by taxi and by chance while exploring a neighborhood on foot I saw a For Rent sign on a very appealing hacienda. I knocked on the door and the owner rented it to me on the spot," explained one expat living in Puebla, Mexico.

"My favorite area is 5 Diciembre with a more local atmosphere and more Mexican nationals full time occupants, than some of the others," said one person in Puerto Vallarta.

"We had a company help us find housing. Only to find out that every place she took us was either her's or a friend. We moved 1 year later. We now live in an Apartment that is about 2500 sq foot. Great view, close to the shopping mal l, etc," said one expat who made the move to Mexico City.

"After studyinng the market here for 2 1/2 years and debating renting or buying, we learned a lot about neighborhoods. And we learned the best way to figure out where you want to be is to come down and go airbnb for a while in different neighborhoods to figure out what you want. For those of us on a budget, Norte and Santiago are much too expensive and the father you go from Centro prices fall dramatically. We just bought a house and it was only after looking at very many and being ready to pounce on one that was significantly reduced in price and in excellent condition. Those go very quickly. Even renting, remember if you don't like the neighborhood, you're stuck for a year usually," explained one foreigner living in Merida, Mexico.

"I live in a 300 year old historical neighborhood that is very exclusive. There are many expats from Germany, France and other countries in the city that mostly live in very modern, new houses. My home is rare to obtain even by the locals," said one expat who made the move to Puebla.

"We live in a house on the beach. Many ex-pats live in houses and condos on or close to the beach," explained one foreigner living in Manzanillo, Mexico.

"The 5 Diciembre neighborhood of Puerto Vallarta is charming and has many good restaurants. I stay in a 4th floor apartment in the Paramar Hotel, great breakfast, wonderful staff," said one in Puerto Vallarta.

"We live in a large home one town over from where my husband works. I think the type of housing one chooses depends on the expat. Some are single and would rather live modestly and pocket the excess money from the monthly stipend they are given towards housing. Others have families and need/want more elaborate housing. I don't know any expats living here who aren't working for a U.S. company. This isn't the type of area people move to on a whim. They are sent here for work," explained one expat in Comalcalco.

"I don't believe there is a "typical" home or apartment in Manzanillo. Choices are varied. Houses in the hills offer spectacular views, cool breezes and a variety of architectural plans. The tradeoff with the nice views is the multiple floors (steps). Flat areas close to or on the beaches offer one-level living, but you give up views and sometimes there's flooding in the rainy seasons, depending on location. Condominiums on or near beaches are varied, from "tired" to well maintained. HOA fees are not reasonable (i.e. Vida del Mar for a 2 bedroom averages $400+ per month). Living in a home on the beaches although beautiful, one should consider privacy and security - all beaches are open to the public. Areas around the resorts and hotels are noisy during holidays and weekends (loud music until wee hours of the morning). The variety of choices makes Manzanillo unique - there's something for everyone, just need to explore for a right fit," explained one person living in Manzanillo, Mexico.

"The average 3 bedroom condo on the beach is under 200,000.00 USD at this time. There are houses in gated communities from 140,000.00 USD to 2.5 million, depending on your taste," said one person in Manzanillo.

"Much lower. We pay our property taxes and water yearly. Our taxes are $699 MX and water is $1000 MX per year. Electricity is expensive in Mexico but still less than the US and is paid every other month. We have our propane tank filled on the off month and runs about $1600 MX for 2 months. Phone and internet is $600 MX per month and that is with unlimited long distanse. We have satelite which comes out of Canada. They have grocery stores that carry US products but it is imported and therefore expensive. Produce, eggs, meat, chicken and fish is amazing and reasonable. You can pay as much as you want or as little as you have for a house and find something to fit your needs," said one expat who made the move to Lake Chapala.

"Buying a home in Mexico can be a great opportunity to acquire a property in a country where you will undoubtedly find a vibrant culture and beautiful scenery. However, as with any purchase, it is essential to consider a variety of factors before committing to a home. Renting a home in Mexico is also a good option because you can try out an area before making a large investment. Additionally, you may be able to benefit from cost savings associated with renting a home, as the maintenance costs and property taxes are the responsibility of the homeowner. Ultimately, it comes down to your personal preference, budget, and lifestyle," remarked one foreigner who made the move to Mexico.

"1. Be sure to research the local laws and regulations that are in place in the area of the property or development you plan to buy. 2. Make sure to hire a qualified lawyer that specializes in property law in Mexico. 3. Understand the concept of fideicomiso (Trust Agreement) which is a legal restriction that foreign nationals must agree to with a Mexican bank to become a buyer of property. 4. Spend time talking to local expatriates who are familiar with the area and its laws. 5. Determine all closing costs including Mexico's Capital Gains taxes, property taxes and transfer taxes that must be paid by the seller. 6. Consider getting a home warranty that covers the home and its systems for a certain period of time. 7. Be prepared to pay for a land surveyor to come and survey the property, so that it is properly registered at the Mexican courthouse. 8. Familiarize yourself with the title restrictions in the area to make sure you fully understand the property you’re buying," said one in Mexico.

"Yes, foreigners are allowed to own property in Mexico. The Mexican Constitution guarantees the right of foreigners to own property in Mexico, as long as certain restrictions are followed. Foreigners are not allowed to own property within a restricted zone, which is within 100 kilometers of the border and 50 kilometers of the coastline. However, foreigners can own property in this zone through a bank trust, known as a fideicomiso. This trust is administered by a Mexican bank and allows the foreign owner to have full use and control of the property," explained one person living in Mexico.

"Generally, rental properties in Mexico come with basic appliances such as a refrigerator, stove, and washing machine. Some properties may also include air conditioners, microwave ovens, and/or coffee makers. Depending on the property, some additional features such as a dishwasher may also be provided," explained one foreigner living in Mexico.

"Expats can search for homes in Mexico by using online real estate websites, such as Inmuebles24, Lamudi, and Vivanuncios, which offer a wide selection of properties for sale and rent. Additionally, expats can contact local real estate agents who specialize in helping foreigners find homes in Mexico. Expats can also search for homes in Mexico by attending open houses and visiting neighborhoods to get a better feel for the area. Finally, expats can join online expat forums and ask for advice from other expats who have already gone through the process of finding a home in Mexico," explained one person living in Mexico.