We have owned a house in Mexico since 2004. We sold this house last Sep. And have built another one. With adequate supervision houses are built to a better quality than in the US and if you avoid tourist areas, they are about 50% cheaper. Property taxes are very low and some services are better than the US. Foreigners are required to put the house deeds in a trust which costs approx. $500/ year. We have heard of only petty crime in our area and feel safe to leave our vehicle on the street. Neighbours are not envious and are very friendly. Nightime noise is the biggest drawback.
David - 7 years ago
My wife and I have been retired and in Mexico nearly 10 years. We've rented and never would want to consider buying at our age. So pleased to see that almost 2 of 3 in this survey feel the same.
Mark Palmer - 7 years ago
Lots of visits to Merida before we settled on the coast near progreso..
We bought .
Renovated and created our paradise..
One year later ..and a great expanded knowledge of the area ..
We are ready for our next project ...
Peso value makes it a great time to buy ...
Dave Bloch - 7 years ago
As others have said, rent first! And READ whatever you can. There are some great first-person books, lots of Websites and many expat Facebook groups. Decide whether you want to be in an expat enclave or a Mexican community. Learn some Spanish--many online ways to do that inexpensively.
Steve mirassou - 7 years ago
I would rent for a period of time until I was sure that the area chosen was for me. That being said, I wouldn't wait too long with the peso where it is @ 21 to the dollar. Once I was sure I'd buy.
GFeoffrey L Rogg - 7 years ago
In theory buying property in major resort towns with many "anglo" realtors like in Puerto Vallarta should be sound. However, I would strongly recommend renting first and taking the time to really know neighborhoods that appeal to you an consult with other expats what their experience has been. There are many pitfalls to property ownership and it is worth the money to consult the services of a leading notary to advise and check on the points that must be satisfied. From personal experience I would recommend investing in a condominium in major development, preferably by a US-Mexican corp., which is selling well and buying against plans can be advantageous but check carefully for guarantees because to my knowledge there are no laws obliging developers to deposit advance payments in a separate escrow account which cannot be accessed by the developers and many a development has gone bust before completion resulting in serious losses by investors. Also avoid the temptation to buy in more remote locations with inadequate security. If you are a vehicle owner (or renter) make sure that the building has secure guarded parking facilities as car theft is rife whether you have Mexican or foreign plates. Before any reader jumps to disclaim my observations, don't do it. I know Mexico well for over thirty years and have permanent residence status. I will gladly respond to any questions and do not represent the interests of anyone except myself.
Willis Martin - 7 years ago
Get the lay of the land before you buy, thus avoid mistakes that could be costly! It is vastly different than the states, like zoning-lack of, noise-lots like barking dogs and fireworks, church bells, traffic, etc. Many houses have common walls with lots of noise from neighbors. Great place to live, but with many different rules and regulations.
Willis Martin - 7 years ago
Get the lay of the land before you buy, thus avoid mistakes that could be costly! It is vastly different than the states, like zoning-lack of, noise-lots like barking dogs and fireworks, church bells, traffic, etc. Many houses have common walls with lots of noise from neighbors. Great place to live, but with many different rules and regulations.
Phil Susterick - 7 years ago
With the devaluation of the peso (21.6 to 1.00) it would make a lot of sense to buy in Mexico right now. My wife and I bought our home in 2004 when it was 9.7 to 1.0 when we retired and went on to spend an additional $250,000 usd to more than double our square footage and a lap pool.
Now we wish we could travel around the world spending 6 months or a year here and there. Don't get me wrong Mexico is a wonderful place to live, depending where that may be in this country.
We have owned a house in Mexico since 2004. We sold this house last Sep. And have built another one. With adequate supervision houses are built to a better quality than in the US and if you avoid tourist areas, they are about 50% cheaper. Property taxes are very low and some services are better than the US. Foreigners are required to put the house deeds in a trust which costs approx. $500/ year. We have heard of only petty crime in our area and feel safe to leave our vehicle on the street. Neighbours are not envious and are very friendly. Nightime noise is the biggest drawback.
My wife and I have been retired and in Mexico nearly 10 years. We've rented and never would want to consider buying at our age. So pleased to see that almost 2 of 3 in this survey feel the same.
Lots of visits to Merida before we settled on the coast near progreso..
We bought .
Renovated and created our paradise..
One year later ..and a great expanded knowledge of the area ..
We are ready for our next project ...
Peso value makes it a great time to buy ...
As others have said, rent first! And READ whatever you can. There are some great first-person books, lots of Websites and many expat Facebook groups. Decide whether you want to be in an expat enclave or a Mexican community. Learn some Spanish--many online ways to do that inexpensively.
I would rent for a period of time until I was sure that the area chosen was for me. That being said, I wouldn't wait too long with the peso where it is @ 21 to the dollar. Once I was sure I'd buy.
In theory buying property in major resort towns with many "anglo" realtors like in Puerto Vallarta should be sound. However, I would strongly recommend renting first and taking the time to really know neighborhoods that appeal to you an consult with other expats what their experience has been. There are many pitfalls to property ownership and it is worth the money to consult the services of a leading notary to advise and check on the points that must be satisfied. From personal experience I would recommend investing in a condominium in major development, preferably by a US-Mexican corp., which is selling well and buying against plans can be advantageous but check carefully for guarantees because to my knowledge there are no laws obliging developers to deposit advance payments in a separate escrow account which cannot be accessed by the developers and many a development has gone bust before completion resulting in serious losses by investors. Also avoid the temptation to buy in more remote locations with inadequate security. If you are a vehicle owner (or renter) make sure that the building has secure guarded parking facilities as car theft is rife whether you have Mexican or foreign plates. Before any reader jumps to disclaim my observations, don't do it. I know Mexico well for over thirty years and have permanent residence status. I will gladly respond to any questions and do not represent the interests of anyone except myself.
Get the lay of the land before you buy, thus avoid mistakes that could be costly! It is vastly different than the states, like zoning-lack of, noise-lots like barking dogs and fireworks, church bells, traffic, etc. Many houses have common walls with lots of noise from neighbors. Great place to live, but with many different rules and regulations.
Get the lay of the land before you buy, thus avoid mistakes that could be costly! It is vastly different than the states, like zoning-lack of, noise-lots like barking dogs and fireworks, church bells, traffic, etc. Many houses have common walls with lots of noise from neighbors. Great place to live, but with many different rules and regulations.
With the devaluation of the peso (21.6 to 1.00) it would make a lot of sense to buy in Mexico right now. My wife and I bought our home in 2004 when it was 9.7 to 1.0 when we retired and went on to spend an additional $250,000 usd to more than double our square footage and a lap pool.
Now we wish we could travel around the world spending 6 months or a year here and there. Don't get me wrong Mexico is a wonderful place to live, depending where that may be in this country.
Do not need the maintenance headache