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Buying a home in Mexico, House or Apartment
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Picking an Apartment  Apartments tend to have better security and they can give you more light, a better view and (depending on the location and budget) some common facilities such as a pool, tennis courts, gym, gardens, recreational areas and common room facilities. The downside can be the lack of privacy, adjusting to common rules and the fact that in some buildings the parking space is tight and people have to leave their car keys to the valet. Some buildings may look old on the outside but the apartment can be worthwhile. View the inside of the property even if you don't like the outside.
Your House and Home Houses give you more privacy and space. In the appropriate neighborhood, you can easily live in a single house without the need of a guard or security service. Houses can also be found in closed streets or cul-de-sacs, which are gated communities. You should keep in mind that all matters regarding the premises are between you and the owner. Unlike many places in the US, there is no board to take care of the maintenance, gas delivery, receipts, etc. Besides all the considerations listed above, you have to keep in mind that some areas can change over the years. Zoning permits sometimes allow investors to build huge constructions (offices, apartments, shopping malls) in areas that were once considered strictly residential. To learn more about buying a home, make sure you check out our section on buying property in Mexico.
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Other Articles |
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The Apostille – Making a Document Legal for Use in Mexico
In Mexico, the ONLY authority permitted to draft a deed transferring real property or an interest in real property (such as the fideicomiso) is the Mexican Notary Public. This person is different from a Notary Public in the United States where a simple exam, bond, and a rubber stamp can make a Notary Public out of most people.
| | The Legal Aspects of Living in a Condominium
The cottage on a tiny individual lot or the mansion built on a grand expanse of land. This type of home ownership has been the dream of many in the Western world where land has been plentiful and where the family lived in ONE home and did not have other properties for vacations, recreation and retirement.
| | Ejidal Property … Is it a bargain? Or a problem?
EJIDAL (EEEE-heee-doll) properties were established in Article 27 of the Mexican Constitution of 1917 as an outcome of the revolution and represent probably 50% of all the land in Mexico.
| Selecting a Property Manager
Everyday more and more foreigners, people from the U.S., Canada, Asia and Europe, have found Mexico to be an ideal location for healthy retirement. Others have come to Mexico as a result of job transfers. Others still, taking advantage of electronic and wireless communications, seek out delightful areas in which to live and work from their in-home offices and studios.
| | Tax on Profits from the Sale of Mexican Real Estate
There is a lot of misinformation on this subject, such as: "Ïf you become a Mexican citizen you have no tax to pay when you sell real estate"....................... or "With a FM-3 and some receipts, you will be exempt from paying capital gains
on the sale of your vacation house in Mexico"
| | Buying Real Estate in Coastal or Border Areas
Laws regulating ownership of real estate in Mexico are different from those in other parts of the world largely due to Article 27 of the Mexican Constitution of 1917, which prohibits foreigners from owning residential real estate within 30 miles (50 km.) of anycoastline or 60 miles (100 km.) of either border. These areas are known as the “restricted” zones.
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