Real Estate in Mexico

"We had a company help us find housing. Only to find out that every place she took us was either her's or a friend. We moved 1 year later. We now live in an Apartment that is about 2500 sq foot. Great view, close to the shopping mal l, etc," remarked one member in Mexico City.

"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 expat living in Puerto Vallarta, Mexico.

"Cost of living here is far less than the USA as are excellent restaurants, bars, clubs, etc," said one person in Rosarito.

"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 who made the move to Puebla.

"After studyinng the market here for 2 1/2 years and debating renting or buying, we learned a lot about neighborhoods. And we learned the best way to figure out where you want to be is to come down and go airbnb for a while in different neighborhoods to figure out what you want. For those of us on a budget, Norte and Santiago are much too expensive and the father you go from Centro prices fall dramatically. We just bought a house and it was only after looking at very many and being ready to pounce on one that was significantly reduced in price and in excellent condition. Those go very quickly. Even renting, remember if you don't like the neighborhood, you're stuck for a year usually," explained one foreigner living in Merida, Mexico.

"The 5 Diciembre neighborhood of Puerto Vallarta is charming and has many good restaurants. I stay in a 4th floor apartment in the Paramar Hotel, great breakfast, wonderful staff," said one person in Puerto Vallarta.

"We live in a house on the beach. Many ex-pats live in houses and condos on or close to the beach," said one expat who made the move to Manzanillo.

"Expat homes and apartments in Mexico are typically spacious, with large outdoor patios or terraces. Many expat homes are located in gated communities, offering amenities like swimming pools, tennis courts and security guards. Most apartments in Mexico come unfurnished, but they do usually have basic appliances like gas stoves, ovens, and fridges. Many apartments also feature balconies with views of the surrounding neighborhood or city. Mexico also offers plenty of options for expats who prefer luxury living, including beachfront condos, high-end apartment complexes and private villas," explained one foreigner living in Mexico.

"I don't believe there is a "typical" home or apartment in Manzanillo. Choices are varied. Houses in the hills offer spectacular views, cool breezes and a variety of architectural plans. The tradeoff with the nice views is the multiple floors (steps). Flat areas close to or on the beaches offer one-level living, but you give up views and sometimes there's flooding in the rainy seasons, depending on location. Condominiums on or near beaches are varied, from "tired" to well maintained. HOA fees are not reasonable (i.e. Vida del Mar for a 2 bedroom averages $400+ per month). Living in a home on the beaches although beautiful, one should consider privacy and security - all beaches are open to the public. Areas around the resorts and hotels are noisy during holidays and weekends (loud music until wee hours of the morning). The variety of choices makes Manzanillo unique - there's something for everyone, just need to explore for a right fit," said one in Manzanillo.

"What is the average price in the country you’re from? In the US it varies greatly! Mexico is a big country and prices will vary depending on where you are, the size of the house and property, and amenities (pool, gated, security, golf course, etc), as well as being higher in the beach and heavy tourist areas. Due a google search on cities you’re interested in and check out COL (including housing costs) on numbeo.com," explained one expat in Mexico.

"We are paying $12,000 pesos/month, which is about $625 USD which is less than we paid in a mobile home community in Florida. Our TV/Internet/Home phone is approx. $70/mo. We have not gotten the electric or water bills yet, but we have been told that electric is about the same as the US and water is cheap. Trash pickup is about $3/mo," remarked one member in Merida.

"We lust bought a small (1400sqft) house in Rosarito for $325,000. Not much inventory so if are ready to buy you can't be real picky. The 2 places we really wanted to see sold the day before we got there. New house built in 2019, nice furniture & long range ocean view," explained one expat living in Mexico.

"Oh, much lower!! We pay $400. (US)/ month for our house. In San Diego, California, the rent for such a place would be about $1500./month. You can rent a 1 bedroom apt. in TJ for as little as $80. (US)/mo. but I don't think too many Americans/Canadians would be happy with the lack of space, amenities and location. There are also lovely places here for $1000./mo. but those renters/owners are considered to be "rich" and could be a target for robbery," said one person in Tijuana.

"Expenses here are FAR lower than the USA even though Real Estate here has gone up in price. Still very affordable. I live in So. Rosarito close to Puerto Nuevo. My house is on a Hillside above the ocean with spectacular Views of the Ocean and coastline. I have a 3 bedroom house, 3 baths home with huge view patio and enclosed parking for 3 cars. This for a fraction of the cost of an ocean view home in California. If you are looking to rent, Ocean view and ocean front places are low price and vary from area to area. Many American colonies here have 24/7 guards and security. Rents vary from about 400 USD to well under 2000 USD. Depending on size and area, Everything from small apartments to huge view homes are available," said one expat who made the move to Rosarito.

"The costs are a little less to about the same as the U.S. (to rent). The locals have realized they can get more for their properties because they are dealing with petroleum companies who are willing to pay. And, I think there was a housing shortage for a while. The house is nice though. We pay about usd $1800.00 for about 3000 sq.ft. You can rent cheaper places but you will generally end up with problems (leaking roof, older appliances)," explained one foreigner living in Comalcalco, 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," said one person in Apizaco.

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

"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 person living in Mexico.

"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," remarked one foreigner who made the move to 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 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 foreigner 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," wrote one expat who made the move to Mexico.