Real Estate in Lake Chapala, Mexico

"We had visited months before, staying in a local hotel. When we sold the motorhome and moved down, three months later, we stayed with friends for two weeks and then bought a house. It was a private sale, without realtor, so was closed by a local attorney/notario in a matter of days," said one expat who made the move to Ajijic, Lake Chapala.

"We made a discovery trip here in July. Loved the place and stayed a month... We toured the entire area and eliminated those areas that were a bit far out or did not meet our needs. We sold our home in the states in three days which spurred us to find a home... We have a dog and two cats that made renting a bit of a hassle so we decided to buy. I made another trip in September and we decided on one of the homes we had previewed earlier. It is a smaller gated community (7 homes) and we are quite delighted," explained one foreigner living in Ajijic , Mexico.

"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 in Lake Chapala.

"If you are looking for a place to live in Lake Chapala, one of your best options is to contact a local real estate agent. They are knowledgeable about the local market, have access to listings of properties for sale or rent, and can provide advice on finding and securing a new home. Additionally, there are various online resources such as the Lake Chapala Society's website, www.lakechapala.net where you can find rental apartments and homes in the area, and informational websites like Chapala.com which can provide helpful tips on living in the region. You can also ask around among the expat community in the area for recommendations on trustworthy real estate agents and for referrals to interesting rental opportunities," explained one expat in Lake Chapala.

"We have a large home, 2 bedrooms, 2 full bathrooms, jacuzzi, sauna, washer dryer fridge stove and completely furnished. Mexican style home with 12 foot ceilings and a huge yars. It is typical of this area. It is much better than what we had in Canada and less expensive. $600 a month," said one expat who made the move to Lake Chapala.

"The housing costs here are much less than in the US. Taxes and utilities are very, very reasonable and there is no need for A/C or a Furnace since the climate is perfect. Upkeep is simple masonry, plaster & paint with labor costs being very reasonable. This house would rent for $550-600/month, but we recently rented a very nice older house for friends at $450/month for a winter visit. Those are hard to find," said one expat in Ajijic, Lake Chapala.

"The cost of housing in Lake Chapala varies depending on the type of housing that you are looking for. On average, you can find basic living accommodations such as a one or two bedroom apartment for around 600-1,000 USD a month. For larger homes, the cost can climb up to around 2,500 to 4,000 USD a month," remarked one member in Lake Chapala.

"Much lower than in Washington state. Taxes are minimal but utilities (electricity) is rather expensive... Based on the former occupant's usage, we opted to install solar. This was a significant amount but with a 3-4 year pay back...We are able to have a maid, gardener and pool guy which we certainly couldn't afford up north... Eating out is inexpensive and about 1/2 of what it would cost NOB. The average cost of housing depends a lot on the area one chooses. The closer to Ajijic center the more expensive. Houses with views (which we have) command a higher price tag... We were looking in the $3-400,000 range and there is a good supply at these prices," explained one expat living in Ajijic , Mexico.

"Buying a home in Lake Chapala can be a great investment. With stabilized economies and a reasonably high standard of living, the area has seen steady growth over the last decade. The cost of living is relatively low, with high quality housing more affordable than many other locations. Additionally, rental properties in the area are becoming more popular as an income source for many residents and there are financial incentives for investing in real estate. Before making a decision, it is important to consider your lifestyle needs and financial goals, as each future homeowner will have different needs for their new home," remarked one member in Lake Chapala.

"I continue to housesit in the same home I have for the past 10 years. There are many housesitting opportunities here for people considering moving to Lake Chapala," explained one expat living in Lake Chapala, Mexico.

"When buying property in Lake Chapala, it's important to understand Mexican real estate law as it relates to foreign buyers. It's important to make sure that the title to the property is valid, and to research whether the seller has all valid permits and documents in order, such as construction permits, zoning permits, and deed registration. Before making the purchase, it's critical to understand the property tax system, which is different from the tax system in the U.S. It's also important to ensure that you understand the exchange rate between the Mexican peso and your currency. Additionally, it's important to have a thorough understanding of any applicable homeowner association fees, or other fees and charges associated with owning the property. Lastly, it's wise to consult a lawyer familiar with real estate in Mexico prior to making a purchase," remarked one foreigner who made the move to Lake Chapala.

"Yes, foreigners are allowed to own property in Lake Chapala. Foreigners can purchase property in Mexico through a fideicomiso, which is a bank trust that allows a foreign buyer to own property in Mexico. The fideicomiso is held in the name of a Mexican bank, and the foreign buyer is the beneficiary of the trust. The fideicomiso is renewable every 50 years, and the foreign buyer can sell, rent, or pass on the property to their heirs," explained one expat in Lake Chapala.

"Many rental properties in Lake Chapala have a refrigerator and stove as standard appliances. Washing machines and dryers may also be included depending on the property. Other common appliances in rental properties in Lake Chapala include ovens, dishwashers, and microwave ovens. Further amenities such as air conditioning and hot water heating may also be included in the rental," explained one person living in Lake Chapala, Mexico.

"Expats can search for homes in Lake Chapala by looking online for real estate listings, contacting local real estate agents, and networking with other expats who have already settled in the area. Additionally, expats can attend local expat events and meet-ups to learn more about the area and find out about potential housing opportunities," said one person in Lake Chapala.