Real Estate in Cabo San Lucas, Mexico
Last updated on Jun 13, 2024
Summary: The most desirable neighborhoods in Cabo San Lucas, Mexico are Pedregal, El Tezal, and El Medano. The average cost to buy a nice 2 bedroom home in Cabo San Lucas 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, swimming pools, and outdoor terraces. Foreigners are allowed to own property in Cabo San Lucas, however, they must obtain a permit from the Mexican government. The best way for an expat to search for a home to buy in Cabo San Lucas is to use a real estate agent or broker who is familiar with the area. They can help you find the best properties in the area and provide you with information about the local market. Additionally, it is important to research the area and the local laws before making any decisions.
How do I find a place to live in Cabo San Lucas?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Cabo San Lucas is to use a property search website like Airbnb, VRBO, or Roomster. These websites list numerous available properties in the area and offer a variety of styles, locations, and amenities to fit your needs. Additionally, you can use local property search websites like CaboTropic and CaboList, which specialize in listings from Cabo San Lucas, Mexico. Many local real estate agents in Cabo San Lucas provide extensive listings as well, including long-term rental properties. If you are looking for a more personal renting experience, you can also contact local landlords directly or visit leasing offices in the area," remarked one member in Cabo San Lucas.
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What is a typical expat home or apartment like in Cabo San Lucas?
"Cabo San Lucas expat homes and apartments typically offer luxury living with breathtaking views and modern amenities. Most residences feature air-conditioning, fully-equipped kitchens, in-unit washers and dryers, and private balconies or terraces. The properties are ideally located close to beaches, resorts, shopping centers, and other attractions like the famous El Arco de Cabo San Lucas rock formation. Expats often enjoy such features as swimming pools, hot tubs, 24-hour security, assigned parking, and lush landscaping. The interior of the residence typically has contemporary styling with upscale decor and furnishings," explained one expat living in Cabo San Lucas, Mexico.
What is the average cost of housing in Cabo San Lucas?
If you are thinking about moving to Cabo San Lucas, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Cabo San Lucas is typically higher than other areas in Mexico, with prices ranging from moderately expensive to very expensive depending on the size and location of the property. Vacation rentals tend to be more expensive than long-term rentals, while single-family homes in gated communities tend to be the most expensive housing option," said one expat who made the move to Cabo San Lucas.
Should I buy or rent a home in Cabo San Lucas?
If you have not spent a lot of time in Cabo San Lucas, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Cabo San Lucas is an attractive destination for both buying and renting a home. Its year round sunshine and access to miles of beaches make it a desirable place for living. If you plan to live in Cabo for an extended period of time, then buying a home may be the best option for you. In addition, it provides personal opportunity to customize the property to your specifications, as well as the potential for owning a valuable real estate asset that can appreciate as the years go by. On the other hand, if you do not intend to stay in Cabo long-term, or if you are unsure of your finances, then renting may be the more attractive option. With renting, you will have the flexibility to move out at any time, as well as the potential to benefit from the amenities associated with home rentals, such as maid services and other amenities. Whatever you decide, Cabo San Lucas is sure to be an enjoyable place to live," said one expat who made the move to Cabo San Lucas.
What do I need to know when buying property in Cabo San Lucas?
When we asked expats what advice they would give a foreigner before buying a property in Cabo San Lucas, they said:
"When considering buying property in Cabo San Lucas, you should be aware of the laws and regulations that govern the property in Mexico. It is important to understand that due to the national laws in Mexico, foreign property owners will not typically have the same rights as local owners. It is also important to be familiar with the tax implications and legal requirements for purchasing, owning and selling of real estate in Mexico. Additionally, you should also be aware of the process for obtaining building permits, conducting proper title searches and registering property. Make sure to enlist the help of an experienced lawyer and local real estate professionals who are knowledgeable in these areas to ensure a smooth purchasing process," said one expat in Cabo San Lucas.
Are foreigners allowed to own property in Cabo San Lucas?
When we asked expats what advice they would give a foreigner before buying a property in Cabo San Lucas, they said...
"Yes, foreigners are allowed to own property in Cabo San Lucas. 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 Mexico through a fideicomiso, which is a bank trust that allows a foreign buyer to hold title to the property. The fideicomiso is administered by a Mexican bank and the foreign buyer is the beneficiary of the trust. The fideicomiso is renewable every 50 years and can be transferred to another beneficiary," explained one person living in Cabo San Lucas, Mexico.
What appliances are typically included in a rental?
We asked foreigners in Cabo San Lucas 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 Cabo San Lucas typically include an oven, refrigerator, washing machine, and dryer. Most properties also include a microwave, toaster, and coffee maker. Air conditioning is usually provided, and some properties may also feature outdoor barbecues and Jacuzzis," explained one person living in Cabo San Lucas, Mexico.
Additional Information about Searching for a Home in Cabo San Lucas:
We asked foreigners in Cabo San Lucas 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 looking for homes in Cabo San Lucas can search online for real estate listings, contact local real estate agents, or look for rental listings on websites such as Airbnb or VRBO. Additionally, expats can search for homes in Cabo San Lucas by attending open houses or visiting local real estate offices. Expats can also ask friends or family who have visited Cabo San Lucas for recommendations on real estate agents or rental properties," wrote one expat who made the move to Cabo San Lucas.
About the Author
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.
Additional Information:
- Expat Guide to Cabo San Lucas
- Best Markets in Cabo San Lucas
- Retire in Cabo San Lucas Guide
- 7 Tips for Living in Cabo San Lucas
- Pros & Cons of Living in Cabo San Lucas
- Tips for Expats Driving in Cabo San Lucas
- Cost of Living in Cabo San Lucas
- Health Care in Cabo San Lucas
- The Essential Guide to Cabo San Lucas
- Healthcare & Health Insurance in Mexico
- Best Places to Live in Mexico
- 5 Best Places to Live in Mexico
- Pros and Cons of Living in Mexico 2024
- 2024 Guide to Moving to Mexico
- Members Talk about the Cost of Living in Mexico