renting luxury condo in mexico

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FAQ, Full Ownership, Real Estate, Residences

Introduction to Types of Real Estate in Mexico

When it comes to real estate options for vacation homes, Mexico is the place to look. Mexico can deliver if you are looking to buy an amazing villa that overlooks breathtaking tropical waters or even if you want to design your own home. There are many real estate opportunities in Mexico awaiting you. Here is our guide to the types of real estate in Mexico.

Guide to Types of Real Estate in Mexico:

  • Houses and single family homes in Mexico

Usually the houses in Mexico are two story houses. In the cities the houses are generally bigger. Traditionally houses in Mexico would come with a courtyard, designed purposely so on hot and humid summer days the homeowner can remain cool. Nowadays you will find more variety, with many modern homes in Mexico resembling North America and Europe homes.

  • Condos in Mexico

Condos are becoming a more and more popular option for real estate in Mexico, particularly in tourist areas where foreign investment is becoming more prominent. When you own a condo, you own a unit that is in a large building or complex, and you usually have access to a pool and/or a gym; your association fees will help maintain these common areas. There are some limits on condo owners as to what changes you can do to the interiors of your apartment, but in general, you can decorate your unit as you like. Changes to the common areas will be controlled by the homeowner’s association or the company that is employed to administer the condo.

  • Villas in Mexico

A ‘villa’ traditionally refers to a large luxurious home that is elegant and sophisticated, usually fairly big and overlooking some kind of impressive view. For example, the villas at Villa La Estancia offer incredible ocean views. Villas are certainly one of the most luxurious options for real estate in Mexico.

  • Condo-Hotels In Mexico

A condo-hotel in Mexico refers to real estate option for people to purchase homes at a hotel complex. The units you can purchase come with many added features such as using room service and concierge services with the hotel. Sometimes there will be great restaurants, a spa and multiple pools.

  • Apartments in Mexico

An apartment in Mexico is usually in a large building and the apartment can be rented or even purchased. The location, style, and size can vary as there are one bedroom apartments that are located in a family style neighborhood and all the way up to five bedroom apartments that is located within the city and these come with added features such as a Jacuzzi and a balcony that you can enjoy.

  • Building Your Own Home in Mexico

You can purchase land, then have your own home built for you in Mexico. If this is what you are wanting to do, then you should hire an experienced contractor. You should always be available and let them know exactly what you want done through each of the construction processes, so you can avoid any costly mistakes and surprises that wasn’t included in your original design.

What is your favorite type of real estate in Mexico? Leave us your comments.

by VLEAdminRE,
Destinations, Fractional Vacation Ownership, Full Ownership, Real Estate

Rent or Buy in Mexico?

Many foreigners who choose to make Mexico their home for an extended period of time will most probably ask themselves the question as to whether it is better to rent or buy in Mexico. The personal circumstances of each individual or family will have an impact on the answer to this question, depending on finances, long term goals and experience of the country. Here are some pointers to help you decide whether to rent or buy in Mexico.

Benefits of Buying Real Estate in Mexico

There are a number of benefits of buying real estate in Mexico, which is why it has become popular amongst foreign investors and retirees as well as young families and couples looking for a new pace of life. Here are the top benefits of buying real estate in Mexico:

  • A sound investment

    • You can’t deny that buying real estate is one of the most secure forms of investment, especially if you are looking at buying real estate in Mexico’s top tourist destinations that do not look to be going out of fashion anytime soon.

  • More stable

    • Owning your own home gives you greater stability than renting a property as you are not at the mercy of the whims of your landlord/lady, who could at any minute decide to sell the property that you are living in or decide that it is time for you to leave. Likewise, the death of your landlord/lady can leave you in a difficult situation and vulnerable to being asked to vacate the property that you call home.

  • Potential for appreciation

    • Real estate has the potential for appreciation and therefore you might stand to make money on your property should you choose to sell it at a later date, keeping your money safe.

  • Freedom

    • Owning your own home gives you the freedom to decorate, make enhancements and change your home as you wish. Any improvements that you choose to invest in will add value to your property. Likewise, you can rent your property when you are not using it should you need extra income or decide to return to your home country.

Benefits of Renting

Depending on your financial circumstances, it may be necessary for you to rent a property in Mexico rather than purchase real estate. Some people even choose to rent for a period of time before committing to buying real estate to see if life in Mexico is really suitable. Here are some of the benefits of renting in Mexico:

  • No need for a large investment

    • Perhaps the most obvious advantage of renting a property in Mexico is that you do not need to invest large sums of money. Usually with a couple of months’ deposit and your first month covered you can start renting a property in Mexico.

  • Less Responsibility

    • Renting means that you can hand over the responsibility of repairs and maintenance to your landlord/lady. If the boiler stops working, it’s not your responsibility (or cost), or if you need a new roof, your landlord/lady will have to cover the expense.

  • No long-term commitment

    • Rental contracts can range from one month to one year contracts, with some landlords offering two year contracts, with the possibility of terminating your contract when giving sufficient notice. This means that you have more freedom of movement.

Has this article helped to you decide whether to rent or buy in Mexico? Leave your comments.

by VLEAdminRE,