full ownership in mexico – Villa La Estancia Real Estate

Destinations, FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Residences

Real Estate in Mexico: Time to Buy?

Mexico has long been one of the most popular vacation destinations in the world thanks to its sandy beaches, warm climate, rich culture and varied cuisine. Mexico truly has something for everyone to enjoy. As a result, more and more foreigners are falling in love with Mexico and want to call it home. Are you considering investing in real estate in Mexico? Read below to learn more so you can make your Mexico real estate dreams come true.

Rising Property Values

It is a great time to invest in real estate in Mexico because property values are on the rise. Property values have been steadily increasing over the last decade, especially in coastal towns. New constructions are constantly popping up, and consequently more buyers are coming forward to purchase real estate in Mexico. Real estate in Mexico is still more affordable than real estate in a coastal town in the United States or Canada, so don’t wait until prices get out of your reach. Two of the top advantages to buying real estate in Mexico is that the cost to maintain your property is very low, and property taxes are significantly less than average property taxes in the United States.

Best Investment

Interested in a real estate property that also comes with fabulous amenities and services? You should check out real estate at the renowned Villa La Estancia. With properties located in Riviera Nayarit and Cabo San Lucas, Villa La Estancia could be the dream home you’ve been searching for. This award winning luxury resort has everything from multiple pools, world class spa, gym, tantalizing restaurants and so much more. All right on the beach with amazing ocean views from every unit. The elegantly designed suites have all the highest quality finishes and touches you deserve. Are you ready to treat yourself to the best?

Foreigners Can Purchase Real Estate in Mexico

In the past, many people believed that foreigners could not own real estate in Mexico near the beach. However, you are able to make your real estate dream come true by establishing a trust in which your property title will be held. Contact one of our professional real estate associates today to help explain further the process required. They will walk you through every step to make the process easy and streamlined so that you can have more time enjoying your piece of real estate in Mexico.

Rental Income

Riviera Nayarit and Cabo San Lucas are two of Mexico’s top tourist destinations. If you purchase real estate in Mexico in these towns, you will have the opportunity to earn rental income by leasing out your property when you are not using it. If you are smart enough to invest in the luxurious Villa La Estancia, our on site staff can assist you in securing renters for your property. They will make sure you have your valuable vacation time allocated on the calendar, so no overlapping or double booking occurs.

If you plan to buy real estate in Mexico, don’t hesitate too long as properties are flying off the market due to increased popularity. The time is now!

Recommended article: 10 Reasons to make Mexico your Home

by VLEAdminRE, July 4, 2018

Full Ownership, Real Estate, Residences

Costs Involved with Property Ownership in Mexico

Besides a sunny climate, great food and a fun-loving lifestyle, one of the main attractions of property ownership in Mexico is the lower costs involved when compared to the USA, Canada and Europe. Not only will you find that luxury properties with pools and other great amenities are more affordable, you will also find that taxes, housekeeping services, and maintaining your property is much cheaper.

Here are some of the direct and indirect costs involved with property ownership in Mexico that you should consider when purchasing real estate.

Real estate

The most significant and direct cost involved in property ownership in Mexico is the actual cost of the property you are purchasing, which will vary according to location, size and amenities, just like real estate in any country.

Closing fees

When calculating your overall investment when buying real estate in Mexico, you should take into consideration the cost of lawyers, in particular, notary fees, sales taxes and agency fees.

Mexican Property Taxes

All Mexican property ownership is subject to annual fees called “predial” which you pay at your local mayor’s office. The rates for these property taxes in Mexico differ from state to state but are usually only a few hundred dollar depending on the size and location of your home. Be sure to keep on top of these taxes as in some areas you will not receive a bill.

Fideicomiso – Land Trust

Foreign residents need a special land trust known as Fideicomiso from a bank in order to purchase land that is located within 50 km (30 miles) from the Mexican coast or 100 km (60 miles) from a border. You will be expected to pay an upfront fee and then a yearly payment which can range upwards from around $500 USD depending on your property.

Homeowners Associations

For those opting for property ownership in Mexico within a gated community, as when purchasing a condo, apartment or within a golf or country club, you will need to include the costs of your maintenance fees and HOA’s dues when calculating your yearly costs.

Energy

Relative to what people earn on average in Mexico, the cost of services like gas and electricity are high in Mexico although still lower than north of the border. When it comes to electricity, what you should take into consideration is that the more you use, the more expensive each unit of energy becomes, and if you go over your “allowance” then the government subsidy per household is removed and you have to pay the full cost of your electric bill.

Insuring your home

Home insurance is another cost involved in property ownership in Mexico which can cover both the property itself as well as contents. When living by the coast, you should makes sure that your plan covers storms and other phenomenon like flooding.

Have we missed any costs involved in property ownership in Mexico? Add your comments.

by VLEAdminRE, September 20, 2016