Have you been thinking about purchasing a home in Mexico? If you are, then you should know that you are not alone! The warm climate, rich culture, and welcoming locals are why so many people around the world fall in love instantly with Mexico.
Also, it is the most popular destination that people from the United States and Canada select to purchase real estate at.
Is buying real estate in Mexico a good idea and safe? Mexico is very safe for ex-pats! In the United States and Canada, the crime statistics are much higher in their bigger cities than in Mexico’s popular cities such as Puerto Vallarta and Nuevo Nayarit in Banderas Bay.
Villa La Estancia Riviera Nayarit is an ideal option for people who want to buy a vacation home in paradise.
Meanwhile, keep reading below to learn more about buying real estate in Mexico.
Is Buying Real Estate in Mexico a Good Idea?
Is buying real estate in Mexico a good idea? Many people from around the world want to know if it is a good idea and if it is safe.
Overall, Mexico is a very safe country and it offers people a chance to live a laid-back lifestyle. Plus, the lower cost of living makes people want to purchase a vacation or retirement home.
Actually, many people actually purchase coastal real estate that they could never afford in their own country.
Plus, they have all the perks of living near the ocean enjoying warm weather, an affordable investment, and having access to enjoying outdoor activities any time of the year.
If you purchase real estate in Mexico, it is an excellent investment as property values always go up over time, especially real estate near the beach – Buying real estate in Mexico is a good idea!
This article may interest you: Tips for Living in Mexico.
Can Americans and Canadians Purchase Mexican Real Estate?
Can Americans and Canadians purchase Mexican real estate legally? Actually, Americans and Canadians can purchase and own Mexico real estate in their own name legally that isn’t along the coast or the border.
Foreigners can purchase property at the beach or near the border legally. Foreigners will need to follow the Mexico real estate laws, and a bank trust is required to purchase property at the beach or the border, this is known as “Fideicomiso”.
An upfront fee will need to be set up for the bank trust along with annual fees will need to be paid as well. A real estate agent or a broker can help foreigners with the real estate purchase process.
Americans and Canadians can purchase real estate property in Mexico legally and it is a fairly easy and affordable process, too.
Read All About Mexican Property Taxes.
Generally, it is safe to buy real estate in Mexico. When you do, you will have a beautiful home to enjoy many vacations in paradise, or you may even want to move to Mexico full-time.
There are some restrictions on residential property ownership in Mexico. You can have the title in your name if the property isn’t near the border or on the beach.
If the property is coastal or near a border, then you can have the real estate property held in a bank trust that will comply with the real estate laws in Mexico for foreigners.
Are you ready to purchase a house in Mexico? If so, why not check out Villa La Estancia which is located just north of Puerto Vallarta in the peaceful neighborhood of Nuevo Nayarit? We have luxurious beachfront condominiums with outstanding amenities and services.
Give us a call today to learn more!