Real Estate in Mexico

"My favorite area is 5 Diciembre with a more local atmosphere and more Mexican nationals full time occupants, than some of the others," explained one person living in Puerto Vallarta, Mexico.

"I asked around at work, drove around the neighborhoods by taxi and by chance while exploring a neighborhood on foot I saw a For Rent sign on a very appealing hacienda. I knocked on the door and the owner rented it to me on the spot," said one expat in Puebla.

"Finding a place to live in Mexico can be done in a few different ways. The first option is to look for rentals online. Sites like Airbnb or Vrbo offer many vacation rentals in Mexico, which may be suitable for long-term stays. You could also look for rental listings on local listings sites, such as Craigslist, OLX, or Inmuebles24. Another option is to search out real estate agents in Mexico and ask them to help you find a place to live. Additionally, if you know people in Mexico, they may be able to help you find a rental and show you around the area. Word of mouth is another great way to find a place to live in a new country. Finally, if you're looking for something more permanent, you could consider buying property in Mexico. Purchasing a home or condo in Mexico requires researching both regulations and the market. It's important to speak with a real estate professional in the area who can guide you through the process," remarked one member in Mexico.

"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 single family dwelling that shares side walls with my neighbors. It is 2 story with 3 bedrooms and 2 baths. Houses are made with brick or cider block with a skin coat of concrete. Many houses have beautiful, lush gardens with indoor/outdoor living. We chose not to have one. Many people have maids and gardeners but it was not in our budget. Square footage of houses include covered porches so be aware of that. We looked at one house that a porch was 1/3 of the square footage which left very little living space," explained one person living in Lake Chapala, Mexico.

"Much lower. We pay our property taxes and water yearly. Our taxes are $699 MX and water is $1000 MX per year. Electricity is expensive in Mexico but still less than the US and is paid every other month. We have our propane tank filled on the off month and runs about $1600 MX for 2 months. Phone and internet is $600 MX per month and that is with unlimited long distanse. We have satelite which comes out of Canada. They have grocery stores that carry US products but it is imported and therefore expensive. Produce, eggs, meat, chicken and fish is amazing and reasonable. You can pay as much as you want or as little as you have for a house and find something to fit your needs," remarked one member in Lake Chapala.

"My husband found a two bedroom one bath house in Pensiones neighborhood in Merida Yucatan for about $35,000 USD. It needs another $10k in upgrades or remodeling but it is a cute home and would be great. The rents here are all over the place. But a huge home with a lot of amenities unfurnished in my neighborhood (4 bedrooms or 5 with three bathrooms and so on? Goes for $14,000 Mexican pesos a month. About $675 or $700 USD give or take," explained one expat living in Mexico.

"Buying a home in Mexico can be a great opportunity to acquire a property in a country where you will undoubtedly find a vibrant culture and beautiful scenery. However, as with any purchase, it is essential to consider a variety of factors before committing to a home. Renting a home in Mexico is also a good option because you can try out an area before making a large investment. Additionally, you may be able to benefit from cost savings associated with renting a home, as the maintenance costs and property taxes are the responsibility of the homeowner. Ultimately, it comes down to your personal preference, budget, and lifestyle," remarked one foreigner who made the move to Mexico.

"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," explained one person living in Apizaco, Mexico.

"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 expat in Manzanillo.

"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," said one expat in 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," said one person in 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," explained one person living 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 expat in Mexico.