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...

"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," explained one expat living in Mexico.

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"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," said another expat in Mazatlan, Mexico.

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Should I buy or rent a home in Mexico?

If you live in Mexico, newcomers to Mexico would love to hear your answer to this question.

About the Author

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.