Considering buying real estate in Mexico so you can have some foreign assets in your investment portfolio?
While buying property in Mexico might sound like a good idea — how do you go about it? And what are the best places to buy property in Mexico?
You want to make sure you find a property location you’re going to love and that will retain its value and increase in value. Continue reading this article to learn more about buying real estate and investing in Mexico.
The 411 for Buying Real Estate in Mexico
Having a clearer understanding of Mexico and its cities makes it easier for you to buy the best properties. The following information will help you as you’re making your decision on what to buy.
Why Invest in Mexican Real Estate?
Do you need a little more motivation to invest in Mexican real estate? These reasons will help you as you decide whether Mexico is a good place to put your investment dollar.
1. Strong US Dollar
The US dollar is strong compared to the Mexican peso. Since the US dollar is so strong, you’ll be able to get a good deal on real estate in Mexico.
Besides for getting a good deal on Mexican real estate, you’ll also find the cost of living is great because of the strong US dollar.
2. Will Not Depreciate
When you own property in a vacation hot spot, it is not going to depreciate. People enjoy coming to these locations and reserve months in advance to get the best spots on the beach.
If you own one of these spots, you’ll be able to enjoy returns that will rival and often beat the stock market.
3. Cultural Similarities
Worried about a culture shock when you buy a property and want to spend some time there as well as make some money off the investment?
If you don’t understand the culture of a place, it can be disorienting. When you buy real estate in Mexico, you will find many cultural similarities. Even if you don’t take part in some of their practices, you likely know about them because of a friend or acquaintance that is Mexican.
4. Many English Speakers
Learning another language can be difficult. If you have no interest in learning another language then Mexico is a great place to buy a property.
Whether you’re using it yourself or you’re renting it out, having easy access to people that speak English is a plus for your property. People wanting to vacation on a beautiful beach will be more than happy to pay big dollars for a beach where they can communicate with people easily.
5. Six-Month Visa-Free Stays
Don’t want to deal with visas but want to stay in your property for a large part of the year? No worries because you can stay in Mexico for six months without a visa.
Best Places to Buy Real Estate in Mexico
Buying real estate just anywhere doesn’t work. Try one of these locations for a great place to invest.
1. Riviera Maya and Cancun
Ready to live in a Mexican hot spot? Hello, Riviera Maya and Cancun! You’ll meet people that have been coming to this part of Mexico for years as well as many people visiting from all over the world.
If you love to meet new and interesting people or know you have a market for people that would love to — this is a great spot to purchase a property.
Tulum is lined with beautiful beaches and there are many places to spend your cash so get ready and bring plenty of pesos. As you can see here, investing in Tulum is a wise move.
2. San Miguel de Allende
Know someone that wants to retire in Mexico and want to rent to them long-term for some extra cash? San Miguel de Allende is one of the most popular places to retire in Mexico.
Your renters will fall in love with the cobblestone streets and many choices of places to eat. Don’t forget about all of the amazing annual festivals that will take place when your residents need to enjoy something new.
3. Merida
Merida is known as one of the safest cities in Mexico. It’s also known for its hammock trade. Who wouldn’t like to invest in a town that makes hammocks?
There are many immigrants here in Merida and the food is amazing. There is also plenty of colonial architecture that will transport you back in time.
4. Puerto Vallarta and Punta Mita
If you’re looking for ex-pats — you’re going to find them in Puerto Vallarta. There are plenty of co-working spaces and gourmet food to attract people from all around the world.
The people don’t just come for the food and the co-working spaces though, don’t forget about the amazing beaches of Puerto Vallarta.
5. Guadalajara
If you’re looking for an investment property that isn’t as pricey as some of the locations mentioned above then Guadalajara is a great place to look.
It’s close to many important parts of Mexico, like the capital, beach and of course, the birthplace of tequila.
Choosing the Best Investment Property for You
There are many things to think about when you’re choosing an investment property than a location. Beyond all of the best practices and best places, you have to decide how you’re going to use it.
Will you be staying some yourself? Do you want to rent it out long-term? Answer these important questions before you invest in any properties.
Another important part of buying an investment property is finding a good real estate professional to help you. There are many legalities that go into buying land out of your own property. Find someone you can trust and go after your new investment.
Learn More About International Property and Beyond
Thinking about buying real estate in Mexico is a wise move. Now you know some of the best practices as you’re moving forward with your plan.
Our website has some of the best resources for people that want to grow their investment portfolio with foreign properties and other properties. Don’t stop your learning here.
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