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Real Estate in San Miguel de Allende, Mexico | Expat Exchange
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San Miguel de Allende

Real Estate in San Miguel de Allende, Mexico

By Joshua Wood, LPC

Last updated on Mar 02, 2024

Summary: The most desirable neighborhoods in San Miguel de Allende, Mexico are Centro, Guadiana, and San Antonio. The average cost to buy a nice 2 bedroom home in San Miguel de Allende is around $200,000 USD, while a nice 3 bedroom home can cost around $300,000 USD. These properties typically include modern amenities such as air conditioning, high-speed internet, and a fully equipped kitchen. Foreigners are allowed to own property in San Miguel de Allende, however, they must obtain a permit from the Mexican government. The best way for an expat to search for a home to buy in San Miguel de Allende is to use a real estate agent or broker. They can help you find the perfect home for your needs and budget. Additionally, you can search online for listings and visit the neighborhoods in person to get a better feel for the area.

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Welcome Home Mexico
Welcome Home Mexico
Welcome Home Mexico

How do I find a place to live in San Miguel de Allende?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"There are a few ways to find a place to live in San Miguel de Allende. You can contact a real estate agent to help you find the right place for you. You can search online listings to find available areas and view photos of potential homes. Additionally, you can visit potential homes in person and make sure that they match what you're looking for. You can also ask friends or resources in the area to see if they can point you in the right direction or refer you to someone who can help. Lastly, you can connect with local landlords who have properties available for rent and work out details of a month-to-month or longer lease with them," said one person in San Miguel de Allende.

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What is a typical expat home or apartment like in San Miguel de Allende?

"Expat homes in San Miguel de Allende tend to be luxurious, comfortable, and possess all the amenities one needs to live a high quality of life. Many expats choose to purchase homes in this city due to its breathtaking landscape and convenient proximity to nearby cities, providing easy access to all kinds of entertainment, eclectic cuisines, and cultural events. Most homes are equipped with contemporary architecture and many of them boast spacious terraces that overlook the surrounding mountains and cityscape. Expats can also rent beautiful apartments, usually built in colonial-style, that each have a unique character and charm. San Miguel de Allende is also home to many high quality condo developments that provide luxurious living spaces and top-tier infrastructure," explained one expat living in San Miguel de Allende, Mexico.

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What is the average cost of housing in San Miguel de Allende?

If you are thinking about moving to San Miguel de Allende, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in San Miguel de Allende is generally considered to be relatively high, with prices varying depending on the size and location of the property. However, there are still a variety of housing options available for those with a variety of budgets, from modest apartments starting in the low millions of Mexican pesos to luxurious homes that can cost in the tens of millions," said one expat in San Miguel de Allende.

Should I buy or rent a home in San Miguel de Allende?

If you have not spent a lot of time in San Miguel de Allende, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Whether you should buy or rent a home depends on your personal circumstances and goals. Buying a home in San Miguel de Allende can be a great long-term investment, as the city's rapidly growing economy and attracting foreigner-friendly lifestyle mean that property values are likely to increase over time. On the other hand, renting in San Miguel de Allende gives you the flexibility to move around if needed, without the entanglement of a long-term commitment or ownership costs. In either case, it is important to research all of the options for housing before you decide, as the benefits and costs will vary depending on your unique situation," explained one expat living in San Miguel de Allende, Mexico.

What do I need to know when buying property in San Miguel de Allende?

When we asked expats what advice they would give a foreigner before buying a property in San Miguel de Allende, they said:

"When buying property in San Miguel de Allende, it is important to research local laws and regulations regarding property ownership and to seek competent legal advice. It is also important to understand the local economy, market conditions and rental potential, as well as researching any existing infrastructure or plans for future infrastructure that affect the neighborhood. Additionally, factors such as crime rates and quality of life should be taken into consideration before making a purchase. Lastly, a competent real estate professional should be consulted so that all transaction details, from taxes to transfer paperwork, are properly handled," said one foreigner living in San Miguel de Allende, Mexico.

Are foreigners allowed to own property in San Miguel de Allende?

When we asked expats what advice they would give a foreigner before buying a property in San Miguel de Allende, they said...

"Yes, foreigners are allowed to own property in San Miguel de Allende. The Mexican Constitution grants foreigners the same rights as Mexican citizens to own property in Mexico, with the exception of certain restricted areas. Foreigners can purchase property in San Miguel de Allende through a fideicomiso, which is a trust agreement between a Mexican bank and the foreign buyer. The bank holds the title to the property on behalf of the foreign buyer, and the foreign buyer has the right to use, possess, and enjoy the property," said one expat in San Miguel de Allende.

What appliances are typically included in a rental?

We asked foreigners in San Miguel de Allende what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"Rental properties in San Miguel de Allende typically include an oven, a refrigerator, a dishwasher, an air-conditioner, a washing machine, and a dryer. Additionally, some rental properties may include other amenities such as a microwave, a toaster oven, a coffee maker, and televisions," said one expat in San Miguel de Allende.

Additional Information about Searching for a Home in San Miguel de Allende:

We asked foreigners in San Miguel de Allende what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats can search for homes in San Miguel de Allende by looking online for real estate listings, contacting local real estate agents, and asking other expats for recommendations. Additionally, expats can attend open houses and visit neighborhoods to get a better sense of the area," said one person in San Miguel de Allende.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

San Miguel de Allende

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