Real Estate in Mexico

How do I find a place to live in Mexico?

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

"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," said another person in Merida.

"Finding a place to live in Mexico is easier than ever. There are a variety of online real estate portals, classified ads, and local listings to find just about any kind of property you’re looking for. You can also search for a home on social media sites such as Facebook and Twitter, as well as through specific location-based forums. If you prefer to speak with someone in person, then consider going to a local real estate agency, or asking friends and family who have lived in Mexico for help. Lastly, consider searching for student housing if you're a student. There are several rental services offering discounts and specials for students, making it a great option for those on a budget," added another expat who made the move to Mexico.

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What is a typical expat home or apartment like in Mexico?

"Many expats in Mexico enjoy living in spacious, luxurious homes. Many of these homes feature large outdoor spaces, patios that double as outdoor living rooms, and balconies offering stunning views. Inside the homes, you can find high-end furnishings, original artwork, and modern appliances. Many expats also choose to rent or buy apartments and condos, which can be found in many of Mexico’s larger cities such as Mexico City, Cancun, and Playa del Carmen. Apartments and condos are often luxurious, featuring all the modern amenities, such as high-tech kitchen appliances and air conditioning. Although the decor may not be incredibly stylish, the comfortable furniture makes expats feel like they are living in their own homes," said another expat in Mexico.

"What is the average price in the country you’re from? In the US it varies greatly! Mexico is a big country and prices will vary depending on where you are, the size of the house and property, and amenities (pool, gated, security, golf course, etc), as well as being higher in the beach and heavy tourist areas. Due a google search on cities you’re interested in and check out COL (including housing costs) on numbeo.com," remarked another member in Mexico.

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What is the average cost of housing in Mexico?

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

"The cost of housing in Mexico can vary greatly depending on the location and quality of the housing. Generally, housing prices in the major cities such as Mexico City and Monterrey tend to be on the higher end, while those in smaller rural communities tend to be lower," added another expat who made the move to Mexico.

"Expenses here are FAR lower than the USA even though Real Estate here has gone up in price. Still very affordable. I live in So. Rosarito close to Puerto Nuevo. My house is on a Hillside above the ocean with spectacular Views of the Ocean and coastline. I have a 3 bedroom house, 3 baths home with huge view patio and enclosed parking for 3 cars. This for a fraction of the cost of an ocean view home in California. If you are looking to rent, Ocean view and ocean front places are low price and vary from area to area. Many American colonies here have 24/7 guards and security. Rents vary from about 400 USD to well under 2000 USD. Depending on size and area, Everything from small apartments to huge view homes are available," explained one foreigner living in Rosarito, Mexico.

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Should I buy or rent a home in Mexico?

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

"Deciding whether to buy or rent a home in Mexico depends on your lifestyle and long-term goals. If you are looking for a short-term solution, you should consider renting. This allows you to enjoy the benefits of living in Mexico without having to commit to a permanent residence or a large investment. If you plan on staying in Mexico for an extended period of time and you have the financial resources to make a large investment, then buying a home could be a sound decision. It can increase your financial security and provide you with more freedom when it comes to customization and upgrades. Additionally, the costs of homeownership may be offset by any appreciation in the value of the home over time," said another expat in Mexico.

"We bought a house. It was not easy, but with a good realtor and notario not impossible. Living near the coastline, we had to purchase a fideicomiso (bank trust) and that was expensive," remarked another member in Mazatlan.

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