Real Estate in Mexico

"Cost of living here is far less than the USA as are excellent restaurants, bars, clubs, etc," remarked one member in Rosarito.

"When we still lived in PV, my Mexican husband contacted a real estate place that handled rentals. He flew there to see it and we moved there. Two years later we found a bigger/better place, closer to the border, on the recommendation from a buddy at his work," explained one expat living in Tijuana, 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.

"When we started looking at the money we would have to live on after retirement, I realized that I would never be able to quit work and live comfortably. We started looking at places we could live. We wanted to be close enough to hop up to the states to see family but be able to afford to retire. Mexico was the obvious answer. After much internet research, I stumbled on Lake Chapala. My husband and I knew nothing about Mexico. His vision was from the old westerns. There is a group that provides a week long seminar that will answer all of your questions and also show you the fun side of the area. We booked a trip 3 months away. I used the time to look at real estate offerings. I had limited funds. This is a cash economy so it had to be a house I could afford. They have an MLS listings here so I could check out everything. I contacted a realtor and he helped weed out houses that had issues or less than savory neighborhoods. I wanted city water, a pressurized/filtration water system and city sewer. Many houses are on septic so I knew that I might have to make a compromise there. We had 14 houses on the final list. We bought the second one we had looked at and we paid cash. And it is on city sewer," said one expat who made the move to Lake Chapala.

"Merida is made up of the Centro area (downtown) and then many different neighborhoods which are called colonies and Fracc's. We were told by a realtor that many expats move to the North Merida area, which is nice and very safe with many stores and restaurants. He said anything above Calle 59 is good. We ended up finding a place in a small neighborhood called San Pedro Uxmal. I don't think there are many expats there, but the home had everything we wanted and the price was good. We are very happy there," explained one foreigner living in Merida, Mexico.

"Our "house" is the downstairs of a 5 bedroom, 3 bath, 2 story house. We have 2 bedrooms, 1 bath, huge living room, dining room and kitchen with gated parking and back yard. It has been converted into 2 separate dwellings. It is in one of the better (upscale) areas of Tijuana. Yes, most expats would want close access to the border and a larger living space than most Mexican homes have," said one expat who made the move to Tijuana.

"Expat homes and apartments in Mexico are typically spacious, with large outdoor patios or terraces. Many expat homes are located in gated communities, offering amenities like swimming pools, tennis courts and security guards. Most apartments in Mexico come unfurnished, but they do usually have basic appliances like gas stoves, ovens, and fridges. Many apartments also feature balconies with views of the surrounding neighborhood or city. Mexico also offers plenty of options for expats who prefer luxury living, including beachfront condos, high-end apartment complexes and private villas," explained one foreigner living in Mexico.

"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," said one in Comalcalco.

"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," explained one expat in Puebla.

"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.

"We are paying $12,000 pesos/month, which is about $625 USD which is less than we paid in a mobile home community in Florida. Our TV/Internet/Home phone is approx. $70/mo. We have not gotten the electric or water bills yet, but we have been told that electric is about the same as the US and water is cheap. Trash pickup is about $3/mo," remarked one member in Merida.

"Right now a condo on the beach with 2-3 bedrooms can be purchsed for as low as about 150,000.00 US dollars. This is a buying opportunity. We also have a beautiful house on the beach with 4 bedrooms for 869,000.00 US dollars. It is the perfect time to take advantage of our low prices," explained one expat 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.

"I purchased a pre construction condo right on the beach built by the best developer on the Baja. It has tons of amenities and beautiful ocean views. I paid $350,000 before I upgraded it. I wanted to be close to my Son and 6 month old grandson and could not afford or want to afford anything in the San Diego area. Where else on the West coast could I have done this? The Condo just South of downtown Rosarito is 1 hour away from my son's house coming back into Mexico and maybe an hour and 45 minutes going there on a good day. Much better than my 5-6 hour drive from Las Vegas. I already have equity in the condo since prices have climbed. I love Mexico, the people and the food! If you are contemplating this go rent there for a while and check it out but come with an open mind. It is Mexico not the US so don't expect much to be the same but be open to new adventures. You only live once," said one expat who made the move to Rosarito.

"The cost of housing in Mexico varies greatly depending on where you live. In general, the cost of housing in cities is more expensive than in rural areas. The cost of renting an apartment in Mexico can range from relatively affordable to quite expensive, depending on the size and location. On average, housing in Mexico is significantly cheaper than in many other countries, and is particularly affordable in rural areas," explained one foreigner living in Mexico.

"We bought an empty lot and built a house on it. Had to get construction permits, since I was a resident at the time it had to be in my wifes name as she is a citizen," said one person in Apizaco.

"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 expat 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," said one person 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.