Buying Property in Mexico (XPAT Restriction Experiences & Advice?)

[ShokWaveRider]

We are thinking of doing what some other folk do in retirement, living in a foreign country for half of the year. Mexico to be specific.

I understand there are buying restrictions for XPATS. How did YOU deal with them and can you share your experiences? Is it complicated, safe etc. Do the RE prices change for us foreigners?

Retirement Visas, complexity or easy?

Are there any good websites or contacts for long term rentals (6 Months) Looking at some of the regular Vacation Spots as well as the Yucatan.

Any advice would be appreciated. I am looking to see how others have managed to do it and what their experiences and opinions are. We are not Spanish speaking.......... Yet.

 

[erkevin]

This might be helpful. And provide some contacts.

https://www.tripadvisor.com/ShowTop...king_of_Moving_to_Mexico-Puerto_Vallarta.html

 

[kcowan]

Since you have not selected a target area, you might want to start with expats in Mexico. Bear in mind that the United States of Mexico presents much variety in choices of places to live. Ownership is restricted 50km from the coasts and 100km from the border that require a bank trust which costs $500/yr.

180 day tourist visas are easy. Others require proof of financial ability. After you google that phrase, you will get lots of useful links.

 

[ShokWaveRider]

Are there any good rental websites that do not focus on weekly or monthly rentals. 6 months and over would be our preference. we are looking on the Yucatan Peninsular. Whenever I look I only seem to get short term.

 

[kcowan]

We found RE agencies that reluctantly handle long term rentals. They don't promote them much.

 

[Surewhitey]

We lived in Playa del Carmen for a few years on tourist visas. Allowed us to visit Belize or back home every 6 months or less.

The laws changed a couple years ago and have likely "settled" by now. We have quite a few friends from Canada and US that have permanent residency and some who go back and forth. Many live in Puerto Morelos and rent a nice spot 1 mile from the beach for $400-700 / month depending on your taste of home. There's a couple of them living next to Croco-cun in a nice home (they rent up and down of a duplex and sublease to control who is there neighbor). They get both for around $1,100 / month. This link may give you the area...

https://www.google.com/maps/place/P...0f179b8205655e!8m2!3d20.8804588!4d-86.8878651

Buying IMO is a crap-shoot. We have some Canadian friends who bought and go back and forth since summers are a beat-down. They have someone come in to run the AC to keep it fresh while they're gone. I think they paid around $140k a couple years ago (2/2 condo with community pool and maybe 10 units to share with). They're on the north side of Playa del Carmen...

https://www.google.com/maps/@20.6742871,-87.0430024,1075m/data=!3m1!1e3

Buying seems to be a headache unless you want the challenge. They overbuild the area, so I don't see any appreciation in this area due to this. Also, if you are not permanent, I've "heard" that you have to pay a sales tax on the buy and sell. I could be wrong, but you may want to ask around. I don't know if the 50km-100km statement is still in effect or if it's different in QROO state. They are a "free state" for a few benefits to encourage more people to come there.

We were just in PM a couple weeks ago and they advertise some prices at around $8-900k pesos (around $50k USD) but I'm sure there are hidden fees / taxes to contend with. I would live in the area, renting, for at least 6 months and really understand living there. Many people we met didn't last more than a year due to the culture and "way they do things"...we liked more than disliked, so we stayed a while and still go back for vacation.

Check out Tulum too. A little further south, but a really chill place like PM. PM beaches are a ghost town most days, BTW...quiet is good for us. PM is close to Cancun which brings the modern comforts like CostCo into the discussion. Tulum is more remote, but still nice.

Hope this helps...

 

[kramer]

Personally, I wouldn't buy anywhere that I didn't have some sort of permanent residency visa.

 

[Koolau]

No experience with Expat living or buying of RE. My suggestion would be to rent until you are comfortable enough and familiar enough to go ahead and buy. Personally, buying OUS would scare me - especially as laws seem to be changing. You have little protection if your country of choice decides they really don't want you around anymore. Went to Canada recently - wanted to hit a casino while I was close - They seemed to be looking for reasons not to even let me into their country. Could have just caught the agent on a bad day, but I got the distinct feeling I was unwelcome. Reentry to the US was much easier than I recalled (back shortly after 9/11, so...). If I'm making a point it would be that things have changed all over the world. Living Expat may not be as easy as it once was. YMMV

 

[ShokWaveRider]

I think renting would be a good way to go at least at first. Thanks for the info, if there is more keep it coming as I am sure I am not the only one interested.

We are visiting, Playa Del Carmen this time in December and I am planning on looking around. I think I would prefer nearer Cancun but not in it, maybe 30 mins away. A I do like the amenities, but I do not like dealing with rowdy and drunk teenagers either.

 

[ShokWaveRider]

No experience with Expat living or buying of RE. My suggestion would be to rent until you are comfortable enough and familiar enough to go ahead and buy. Personally, buying OUS would scare me - especially as laws seem to be changing. You have little protection if your country of choice decides they really don't want you around anymore. Went to Canada recently - wanted to hit a casino while I was close - They seemed to be looking for reasons not to even let me into their country. Could have just caught the agent on a bad day, but I got the distinct feeling I was unwelcome. Reentry to the US was much easier than I recalled (back shortly after 9/11, so...). If I'm making a point it would be that things have changed all over the world. Living Expat may not be as easy as it once was. YMMV

When I was W*rking and travelling regularly overseas, (4 years ago) I noticed Americans we falling out of favor around the world. I am told by my old colleagues it is getting a lot worse and showing no sign of letting up. remember these are folks who travel for work. I have 3 Passports and Only ever used my American one to get back to the USA, because as you say it is a breeze.

When I used to travel I used my UK or Canadian Passport going out, and I never had any issues, sometimes traveling with colleagues I would have to wait ages for them to run the gauntlet. I remember waiting for 3 hours in Bogota, 1 in Santiago, 1+ in Sau Paulo and Rio for a colleague.

I think it is perhaps because we are perceived abroad as liking to stick our noses in everyone else's business, at least that is what I was told by the folks we went to work with. I do know from experience that in a lot of foreign countries think of the US as Arrogant, certainly in Asia. But anyway that is not for discussion here.

 

[H2ODude]

Only experience was DW father bought into a unit under construction in Cancun, maybe 30 years ago, and lost all his money. Invited our family to use when it first opened...hilarious now. No elevator, open holes to lower floors, IIRC AC didn't work yet. I'd just recommend a good dose of buyer beware and do a lot of research on the ground there for other's experiences and cautions

 

[ShokWaveRider]

I think I will look into rentals, it is just difficult to find anything other than short term vacation on the web.

 

[ivinsfan]

I think I will look into rentals, it is just difficult to find anything other than short term vacation on the web.

Have you actually looked, I just pulled up Puerto Aventuras on VRBO and found lots of rentals to pick from for months at a time..Are you going to find over Christmas and New Years maybe not but from Jan 1 until the end of April no problem, most of them have weekly rates and if you ask for a long term rate you likely will get an even bigger reduction. This is a great area to base in IMO.

 

[ShokWaveRider]

Have you actually looked, I just pulled up Puerto Aventuras on VRBO and found lots of rentals to pick from for months at a time..Are you going to find over Christmas and New Years maybe not but from Jan 1 until the end of April no problem, most of them have weekly rates and if you ask for a long term rate you likely will get an even bigger reduction. This is a great area to base in IMO.

Yes, as I said I am looking for 12 month rentals, normal long tern non vocational.

 

[ivinsfan]

Yes, as I said I am looking for 12 month rentals, normal long tern non vocational.

You said six months or over..you can easily get a Jan-Jun rental if you look around a little bit. If you want to go Nov-April you will need to look sooner like now for a 2018 rental.

If you are going to pay 12 months rent for 6 months use you might as well buy something.

 

[Music Lover]

I think I will look into rentals, it is just difficult to find anything other than short term vacation on the web.

If you can't find the length of stay you want, why not line up 2 or 3 short term rentals? Or, book the first rental and then look for another one while you're there.

 

[Ed_The_Gypsy]

Stay in a hotel for a while to look for a short-term rental. Talk to folks.
I would NEVER buy property outside of the US, even Canada. I don't know the rules. By the way, property in Mexico is generally sold cash, which is why gringo property sits vacant for years.
Rent and learn Spanish. Then keep renting.

 

[Blue Collar Guy]

When I was W*rking and travelling regularly overseas, (4 years ago) I noticed Americans we falling out of favor around the world. I am told by my old colleagues it is getting a lot worse and showing no sign of letting up. remember these are folks who travel for work. I have 3 Passports and Only ever used my American one to get back to the USA, because as you say it is a breeze.

When I used to travel I used my UK or Canadian Passport going out, and I never had any issues, sometimes traveling with colleagues I would have to wait ages for them to run the gauntlet. I remember waiting for 3 hours in Bogota, 1 in Santiago, 1+ in Sau Paulo and Rio for a colleague.

I think it is perhaps because we are perceived abroad as liking to stick our noses in everyone else's business, at least that is what I was told by the folks we went to work with. I do know from experience that in a lot of foreign countries think of the US as Arrogant, certainly in Asia. But anyway that is not for discussion here.

Thanks, i just found another reason to stay home.