- Call Us : 1 (214)-233-5936
- Email ID : real-estate@rmoceanfrontrentals.com
- Cozumel Quintana Roo, Mexico
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Owning property in Mexico has always appealed to expats- from sandy beaches to welcoming locals, delicious food and the promise of plentiful sunshine, there’s little not to love about the North American destination.
Generally, the property market in Mexico is strong and on the rise. The country’s economy is holding fast despite the threat of trade alterations from the US, and is growing more swiftly in 2017 than economists previously predicted. Because of this, national buyers are snapping up property as foreign investors rush to take a cut as well. It’s a seller’s market, meaning home prices may be a little high- but so are the values.
Yes- with some restrictions. Mexican citizens are able to buy land without any real barriers, but foreigners face some geographically-based barriers that can restrict some from buying in the most desirable areas.
Residential property that’s 31 miles or closer to the coastline or 62 miles from a border will need to do so via a trust through a Mexican bank. These can be created and used, but it’s often a long process. Foreigners are typically encouraged to work with a notary and a lawyer as they navigate their purchase.
New scams are being tried every day, and it can feel like it’s impossible to protect yourself when you set out to buy a home. However, the following principles will go a long way towards making sure you and your investment remain safe throughout the process.
The steps for buying a home in Mexico are pretty simple, even if you’re choosing to buy in the restricted zone. While they vary from transaction to transaction, the process should be something like the following:
Buying property in Mexico will require you to engage a notary to draw up a sale contract, but otherwise the legal requirements are pretty thin.
You’ll want to:
Unfortunately it can be a little hard to pin down exactly what level of fees you’ll pay due to looser regulations, but some good ones to look out for include:
Beyond the somewhat tedious process of setting up a bank trust, the real estate process in Mexico is fairly straightforward. With a relatively small budget, you can enjoy a beautiful beachfront villa or a modern urban apartment. As far as investment in Mexico is concerned, there’s never been a better time as the nation’s citizens and a multitude of tourists rush to enjoy the Mexican seaside. Good luck with your property purchase!
Excellence, elegance and confidence are the values that drive us and guide us in all our projects, both in Mexico and internationally. Rmoceanfrontrentals advocates a certain vision of art de vivre that we endeavor to showcase in our day-to-day activity.
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