subject: Real estate investments in Mexico [print this page] Real estate investments in Mexico Real estate investments in Mexico
And 'know that Americans are a lot of that investment in Mexico can be an attractive option. And 'purchase of a property for sale in Mexico is still a good way to share ownership internally, given position?
Trends show, the elderly and retired people are looking for cheap places to live and enjoy the rest of his life and the search of places like Mexico is very interesting. If you're the one who sold or rentedthis property for the Americans? And 'This is a good way to share some of your properties real appreciation of the United States to work? Explore some factors to consider for you:
Total own attractiveness as an investment property in Mexico, the country is occupied. For example:
In recent years, has a land rush in the Riviera Maya was an idyllic little piece of the Yucatan Peninsula in Mexico. It is this combination of beautyBeaches (or other geographical features) with low cost of living make this the Americans by the hundreds in this place and many others.
For many years artists enclave of San Miguel de Allende in the hills of central Mexico for the rapidly growing sport fishing and beach communities of the Baja peninsula to Puerto Vallarta on the Pacific coast, there is much to entice retirees seeking sun.
Nowhere in recent years as the state of Quintana Roo, Mexico broke awaysoutheast corner. Anchored to the destination Cancun Resort tower at one end and cosmopolitan Playa del Carmen, an hour south, Quintana Roo has been the fastest growing in the country with over one million inhabitants. An estimated 1500-3000 U.S. citizens live there more than six months per year, with a few thousand more Canadians, Europeans and South Americans.
The hottest section is near Tulum, just down the beach from a massive fortress that dominates the MayaCaribbean. Although the area retains a funky 60's vibe (there's a nudist beach unusual for conservative Mexico), have been launched in recent years, some fancy hotels and real estate developments.
Indeed, with more than 70 million American baby boomers expected to retire over the next two decades, many without adequate pensions or health insurance, some experts predict a large migration to hot and cheaper climates. Often, buyers of an apartment the first 10-15 years Retirement, use it as a holiday home, and then eventually move there for most of the year. Developers are increasingly the trend, building gated communities, condos and golf courses are sold directly, retirees and those who keep the property portfolio as part of their investment property.
On the negative side, there are some factors to consider:
First, if the investment plan for the use of> Real Estate in Mexico as a strategy to reposition, remember to use the popular 1031 exchange approach, because the rules restricting ownership of replacement of domestic substitutes (ie land in the U.S.).
Even on the mainland are many people in search of law before a series of obstacles to the investment, including real estate prices skyrocketing and confused. permitted under the Mexican Constitution, foreigners are almost all 50 countries except in itsKilometers (31 miles) from the coast or 100 kilometers from the border. Within the restricted zone may Fideicomiso heritage in trust, o. While not officially do it themselves, they retain the right to use it and sell it for a renewable period of 50 years. For example, in Tulum, a few kilometers of virgin beach are maintained by an ejido a form of communal property, relatively common in Mexico. According to the law, ejidos can be "privatized" to be divided and sold,After unanimous approval by members Ejido and regulatory approvals in time. Until that happens, foreigners buying parts of it are blocked.
Finally, if you're interested in Mexico as an investment in real estate, experts say there are few basic steps to avoid heart disease. First, a potential seller to ask for three documents before providing them to all negotiations: 1) a copy of the title of the post act informally in Spanish, 2) a certificate ofFreedom of the liens and charges, and 3) the last statement of income and loss for the property. These documents will help ensure that the seller actually owns the property free and clear. Second, hire a lawyer's reputation before signing any document. The United States nearest consulate can provide a list of lawyers in good standing. Third, complete the title. In recent years, major U.S. players such as Stewart Title and First American Title Business in Mexico is gone anda thriving local industry, and based. For a price of about $ 5 per $ 1,000 of property, the authorities of insurance to protect a buyer against title prior liens by tax authorities in case someone else claims title. Finally, make sure you trust the apartment in a Fideicomiso, o. Taxes run about $ 1,000 to $ 1,500 years ahead, plus about $ 400, but the burden is offset by property tax very low.
