So, you have decided to move to Mexico. Now what? If you are lost and wondering what your next step should be, keep reading. In this article, we will share our expert tips on how to start buying property overseas and make your dream of living in Mexico finally come true. Sunny beaches, fresh guacamole, and tequila shots are waiting for you!
Your ultimate property buying guide
1. Find a trusted real estate agent
It is hard to buy property without any knowledge of the local market. So instead of googling houses in Los Cabos yourself, hire a professional, it doesn’t cost you anything and gives you all. This will cut the search time in half and increase your chances of finding a property that matches all of your requirement. A real estate agent can also hook you up with building contractors if you wish to renovate or improve the place. Make sure your agent is an MLS BCS member and has favorable online reviews. Most people don’t realize that the cost of hiring a real estate agent is paid by the seller of the property, not the buyer.
2. Calculate your budget
This is one of the best property buying tips. Before contacting a real estate expert, determine your budget. Houses in Mexico are very affordable. However, if you want to live in the coveted coastal area, get ready to pay more. Take note, that most real estate transactions in Mexico are cash only. You will be expected to make the down payment (around 30-50% of the full price) right away, so it is best to set realistic goals.
3. Define your requirements
An agent will ask you a lot of questions like:
- What kind of community do you wish to live in?
- What type of property do you want to buy?
- How many bedrooms/bathrooms do you need?
- What size of property do you have in mind?
- What area do you want to live in?
Prepare clear answers beforehand to save time and be sure your local expert knows every aspect that is important to you.
4. Explore the area
It is not enough to view images of La Paz on the Internet. You need to dig deeper. When deciding on the area, research its communities and culture. Some locations like Todos Santos are more tranquil and suitable for seniors, while others like Cabo San Lucas are always busy with tourists and would be a perfect fit for younger residents. If you have questions, don’t hesitate to ask your local agent for reference. Do your homework, and you won’t be disappointed later.
5. Plan a trip to Mexico
Buying a cat in a bag is very risky, so take time to visit the property once or twice to see everything for yourself. Use this opportunity to explore the area you will be moving to, discover local restaurants, shops, stores, and other infrastructure. You can also make an appointment to meet your real estate agent in person to make sure he or she is reliable.
6. Get legal help
Probably the most important tip on buying real estate in Mexicois hiring a local attorney. Let the lawyer review the contract before you sign anything to save yourself from scams. You will also need an attorney later to close on the property, so finding one in advance is a good idea.
Now you know how to buy real estate in Mexico. Set your plan into motion right now and make your dream of living south of the border come true! We hope our property buying guidewas useful to you. If you need more information, don’t hesitate tocontact usat any time.