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Ajijic Boardwalk, Lake Chapala

Real Estate in Lake Chapala, Mexico

By Joshua Wood, LPC

Last updated on Apr 21, 2023

Summary: The most desirable neighborhoods in Lake Chapala, Mexico are Ajijic, San Antonio Tlayacapan, San Juan Cosala, and Chapala. The average cost to buy a nice 2 bedroom home in Lake Chapala is around $150,000 USD, while a nice 3 bedroom home can cost around $200,000 USD. These properties typically include a kitchen, living room, dining room, and outdoor patio or terrace. Amenities vary depending on the property, but may include a pool, garden, and/or garage. Foreigners are allowed to own property in Lake Chapala, but there are certain restrictions. For example, foreigners are not allowed to own property within 50 kilometers of the coast or 100 kilometers of the border. The best way for an expat to search for a home to buy in Lake Chapala is to use a real estate agent or broker. They can help you find the right property for your needs and budget, as well as provide advice on the local market and the legal process of buying a home in Mexico.

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How do I find a place to live in Lake Chapala?

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

"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 living in Lake Chapala, Mexico.

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Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.

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Welcome Home MexicoWelcome Home Mexico

Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.
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Click connect to have our partner contact you via e-mail and/or phone.

What is a typical expat home or apartment like in Lake Chapala?

"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 expat living in Lake Chapala, Mexico.

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Welcome Home Mexico

Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

Welcome Home Mexico

Welcome Home Mexico occupies a niche in the market as a successful relocation and real estate firm helping expats moving to Mexico! As seen on CBS news, PBS, in the L.A. Times and more, we are one of the leading companies in this field. Welcome Home Mexico offers a wide range of services, multi-lingual knowledgeable brokers with experience, efficient and professional service.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

What is the average cost of housing in Lake Chapala?

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

"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," explained one expat living in Lake Chapala, 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 person in Ajijic .

"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 who made the move to Ajijic, Lake Chapala.

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Should I buy or rent a home in Lake Chapala?

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

"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," said one person in Lake Chapala.

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

"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 person living in Lake Chapala, Mexico.

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What do I need to know when buying property in Lake Chapala?

When we asked expats what advice they would give a foreigner before buying a property in Lake Chapala, they said:

"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," said one foreigner living in Lake Chapala, Mexico.

Are foreigners allowed to own property in Lake Chapala?

When we asked expats what advice they would give a foreigner before buying a property in Lake Chapala, they said...

"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," said one in Lake Chapala.

What appliances are typically included in a rental?

We asked foreigners in Lake Chapala what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"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 foreigner living in Lake Chapala, Mexico.

Additional Information about Searching for a Home in Lake Chapala:

We asked foreigners in Lake Chapala what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"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 in Lake Chapala.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

Ajijic Boardwalk, Lake Chapala
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