Property in Mexico offers great value for money in comparison to prices in the EU, USA and Canada. Prices are on the rise, however, as Mexico’s economy recovers from the recession that caused the initial drop in prices. Take care when assessing the value of a property in Mexico.
Horror Stories when buying property in Mexico?
There are a few horror stories to be found, of course, but on the whole real estate transactions go entirely smoothly. Furthermore the land prices are lower, the building and maintenance costs cheaper, and the cost of ownership much, much lower.
Though there are many reasons we could give you as to why you should consider buying real estate in Mexico, but the truth is that it’s all about your individual circumstances. If you plan to spend very little time there and don’t fancy renting out your second home it’s probably not for you, but if you’re going to be there for long periods of time over many years it could be a good idea. Hotels and Villas may be more expensive overall for this kind of stay. Property in Mexico is set to increase in value over the coming years, though, so it’s a good investment.
Price of Property in Mexico
The price of a property in Mexico is affected, as in many other countries, by the location, local infrastructure and local amenities. Proximity to an international airport, mall and hospital will all have an effect in one way or another. You should also consider how extensively, and how well, the surrounding area has been developed.
If you’re really thinking about buying property in Mexico then we would suggest that you undertake extensive research into the area, the precise location of a property and the state of any property you are considering. You should also ensure that you hire the right professionals for the job to ensure that all property laws are followed to the letter.
Tens of thousands of foreigners have successfully bought property in Mexico, and with the right research there’s no reason why you should be any different.