Mexican Real Estate: The Top Benefits of Buying Property in Mexico
Have you thought about buying property abroad? Read this Mexican real estate guide to learn the benefits of buying property in Mexico.
Have you ever considered buying property in another country?
The idea of buying international property might seem daunting at first, and it’s true that there are some additional hurdles you have to clear when you do this.
That being said, there are also plenty of perks that come with owning property in a country like Mexico.
Read on to learn about some of the greatest benefits of investing in Mexican real estate and gain some insight into how to get started.
In general, many properties in Mexico are much more affordable than properties in the United States.
It doesn’t matter if you’re purchasing a property to live in full-time, to rent out, or to use as a vacation home.
No matter what your reasoning, you’ll be able to get a lot more bang for your buck (at least in most cases) when you buy property in Mexico.
Mexico is an easy country to access even if you don’t live close the border.
There are several major international airports located throughout the country, and these airports have lots of connecting flights to cities in the U.S. and the rest of the world.
No matter where you’re traveling from, you can get to Mexico without too much trouble.
The price of housing is low in Mexico, but you can also get a significant return on your investment when you purchase property here.
Depending on the location of your property, you may be able to rent it out as a vacation spot and add a significant amount of money to your bank account, especially during the peak tourist season.
There’s a lot of American influence in Mexico, especially in the larger cities.
You’ll definitely feel like you’re in a foreign country while you’re there, but you’ll also be able to find plenty of reminders at home.
From a variety of American restaurants to major stores like Wal Mart and Home Depot, you won’t have to worry about feeling homesick.
Lots of English-Speaking Expats
Even if your Spanish isn’t great, you won’t be totally lost when you arrive in Mexico.
Many of the locals speak at least a small amount of English, and there are also lots of English-speaking expats living there. Millions of Americans live in Mexico full- or part-time, and plenty of Canadians visit every year.
If you get into the professional scene in Mexico, you’ll be even more likely to meet other English-speakers.
The property market in Mexico is growing at a rapid rate. Now is the time to get in there and purchase a property that meets your needs.
If you wait too long, you’ll likely find that prices have risen, and you might not be able to get the same value that you’re able to get now on Mexican real estate.
Mexico offers very modern infrastructure, especially in the major cities. While you’re here, you’ll have access to everything from high-speed internet to major highways and top-notch medical facilities. You’ll have everything you need to remain comfortable while you’re living abroad.
Strong U.S. Dollar
Finally, the U.S. dollar is at a historic high against the peso.
Because of this, the cost of living in Mexico is very affordable compared to many other foreign destinations, and there are lots of incredible bargaining opportunities for investors.
Your dollar will go very far here and you’ll be able to enjoy much more of the country than you may have been able to if you’d decided to purchase property in another country.
Easy, Fast Residency
The process of becoming a permanent resident of Mexico is pretty straightforward and doesn’t take very long.
The residency paperwork is easy and quick to fill out, and you can use the money in your 401(k) or IRA to qualify.
If you don’t want to become a permanent resident, you can also use a six-month tourist visa, which is very easy to renew.
Tips for Buying Real Estate in Mexico
Are you convinced now that buying real estate in Mexico is a good idea? If you’re ready to experience all these benefits, be sure to also keep these tips in mind as you begin searching for property:
Learn About the Fideicomiso
Depending on where you purchase property in Mexico, you may need to establish a fideicomiso. This is a 50-year renewable trust.
You must establish it when you purchase Mexican property that is within 100km of the border and/or 50km of the coast. This provides you with irrevocable and absolute property ownership rights.
Find a Real Estate Agent
Whether you’re planning on investing in Tulum, Cancun, or any other Mexican city, it’s a good idea to work with a real estate agent who knows the area well. They’ll help you find the right property for your specific needs and will be able to educate you on the best places to look.
Look at Lots of Properties
Be sure to consider lots of different properties. Buying international real estate is a big decision, and you need to make sure you’ve considered all your options before you decide on one.
Hire an Attorney
It’s a good idea to have a Mexican real estate attorney on your side, too. They will help to guide you through the real estate purchasing process and ensure you understand all aspects of it before you move forward with buying your property.
Buy Mexican Real Estate Today
As you can see, there are lots of reasons why you might want to invest in Mexican real estate.
Now that you know more about the benefits of this type of real estate investment, are you ready to move forward with it? Or, do you need more information before you pull the trigger?
If you’re looking for more real estate advice, don’t forget to check out some of the other articles in the real estate section of our website.
They’ll provide you with all the tools you need to make an informed decision for yourself and your family.