Real Estate in Mexico

"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," said one person in Merida.

"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 expat who made the move to 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," explained one foreigner living in Mexico City, Mexico.

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

"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 expat in Merida.

"We rented a 3 BR/3 Bath home. It is very modern and has a small front yard and a beautiful back yard with a pool. It is 2 stories. We also have a terrace overlooking the back yard and a sunny roof top overlooking the front of the house. The house has a large wall around it and an electric gate in the front which is very nice for our 2 dogs and 2 cats. They can go in and out as they please," remarked one foreigner who made the move to Merida.

"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 person living in Comalcalco, Mexico.

"Our home is a two story, 2 bedroom with around 2800 sq ft. We have a pool and small garden. The house is stand alone in a gated community. The area in which we live is primarily single family and we are about 10 minutes driving time to the center of town," said one expat in Ajijic .

"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," remarked one member in Lake Chapala.

"We live in a house on the beach. Many ex-pats live in houses and condos on or close to the beach," 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.

"My costs are much lower. I could never have this type of home in the USA for this price. The average cost of renting an apartment in Puebla is $5000 MXN, and a modern, brand new home would be twice the price," remarked one foreigner who made the move to Puebla.

"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 person living in Manzanillo, Mexico.

"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," said one expat in Ajijic .

"Oh, much lower!! We pay $400. (US)/ month for our house. In San Diego, California, the rent for such a place would be about $1500./month. You can rent a 1 bedroom apt. in TJ for as little as $80. (US)/mo. but I don't think too many Americans/Canadians would be happy with the lack of space, amenities and location. There are also lovely places here for $1000./mo. but those renters/owners are considered to be "rich" and could be a target for robbery," remarked one member in Tijuana.

"We bought a condo that we lived in for 9 years, then sold it and built our house. I is a very easy process, as long as you have a good realtor," said one person in Manzanillo.

"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," remarked one foreigner who made the move to Apizaco.

"We purchased a home... Buying is easy but selling is a challenge so they say... Ours went well and we have moved over 20 times in our marriage so buying and selling homes is not new to us... One serious recommendation is to get an attorney to look over the papers and assist in closing. Realtors here run from great to not so and having a knowledgeable third set of eyes makes the process painless," explained one person living in Ajijic, 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," remarked one foreigner who made the move to 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," remarked one foreigner who made the move to 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," said one 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," said one person in Mexico.