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Thread: Living in Mexico

  1. #1
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    Default Living in Mexico

    Lately I have really been thinking about buying or renting a house on the beach or very close to one in Mexico . I can really make a killing on my house if I sell it while the market is so high but I really cant buy in my area because of the inflated prices . But if I sell it all and move to Mexico, as far as I can calculate I can buy or rent a house and have plenty to live on before I need to use my 401 k around 62 yrs old . Anyone ever think about this or know someone who is currently in a simular situation .

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    Featured Member Muyaha's Avatar
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    Default Re: Living in Mexico

    An non mexican citizen can buy under a Bank Trust called a FIDEICOMISO. You own the property for the term of the trust 50 years and you or your survivors can renew for another 50 years. The bank is the trustee and you are the beneficiary of the trust. It would take an act of congress to change this law. It has been in effect for 30 years or more years. Real Estate people are not licensed in Mexico. You really have to find a good broker and a good public notary who is a specialized in real estate and registered with the government. Property taxes are usually 300 american dollars a year.
    Last edited by Muyaha; 04-27-2005 at 08:42 PM.

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    Default Re: Living in Mexico

    Quote Originally Posted by Muyaha
    An non mexican citizen can buy under a Bank Trust called a FIDEICOMISO. You own the property for the term of the trust 50 years and you or your survivors can renew for another 50 years. The bank is the trustee and you are the beneficiary of the trust. It would take an act of congress to change this law. It has been in effect for 30 years or more years. Real Estate people are not licensed in Mexico. You really have to find a good broker and a good public notary who is a specialized in real estate and registered with the government. Property taxes are usually 300 american dollars a year.
    Thanks a lot for the info I am going to scout out the area a bit to get a feel of areas I would be interested in and find people I can trust to make the leagal decisions .Are the books they sell on line about living in Mexico worth the paper they are written on ?

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    Featured Member scorpio's Avatar
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    Default Re: Living in Mexico

    DO NOT BUY in Mexico! American citizens are not allowd to own property. trust or not, the Mexican government can and will take your home-usually after you have renovated it.

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    smartcookie
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    Default Re: Living in Mexico

    This explains it:

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    Default Re: Living in Mexico

    Quote Originally Posted by smartcookie
    Thanks this has much material I need to research I think there are many misconceptions about buying in Mexico and it has dramaticlly changed in the last 15 - 20 years . Like I stated above I know a couple of people who have lived in Mexico for over 20 years and had no problems the only reason they came back was they both got cancer and needed care here .I am looking at a few places at the moment Costa Rica , Thialand , Mexico . The weather in Thailand is not the greatest in my opinion and it is very far from my entire family . Costa Rica I am told is very nice but I have not looked that closely yet . Mexico I can actually take a drive go across the border for a couple of three hours and find what I am looking for and have easy access back to my family if needed .The seeds are planted so now I must gather all the information I can and let the idea start to grow .

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    Featured Member Muyaha's Avatar
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    Default Re: Living in Mexico

    My SO is a mexican citizen so the buying process is a little different but the place we own is in Baja Mexico near Cabo. I think the majority of our Neighbors are older folks from the Washington state, Oregon, and Canada, that either live there year around or only during fall and winter. I know from speaking with them the reason why they picked that state in Mexico is that SD and AZ are extremely close.

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    Default Re: Living in Mexico

    Quote Originally Posted by Muyaha
    My SO is a mexican citizen so the buying process is a little different but the place we own is in Baja Mexico near Cabo. I think the majority of our Neighbors are older folks from the Washington state, Oregon, and Canada, that either live there year around or only during fall and winter. I know from speaking with them the reason why they picked that state in Mexico is that SD and AZ are extremely close.
    As you can see I am in Arizona at the moment most of my relatives reside in s-cal so you can kind of get my picture , thanks for the feedback good positive food for thought.

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    Banned Melonie's Avatar
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    Default Re: Living in Mexico

    This is one case where Scorpio and I are in complete agreement. Unless you or your wife have Mexican citizenship, 'owning' a home in Mexico is pure fiction. It basically amounts to paying 50 year's worth of rent in advance ... unless as Scorpio points out the Mexican gov't comes up with a reason to dispossess you from your house ahead of time (like for example having added $100,000 worth of home improvements which you won't be compensated for when you're given the boot ).

    US citizens wishing to take advantage of the wicked low cost of living in Mexico are better off renting, investing the money they would otherwise have spent 'buying' a house, and letting the dividends and interest from those investments make the rent payment ! Besides, there's always the risk in Mexico that your 'neighborhood' can turn to shit in a heartbeat, and if you are renting you can simply walk away !

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    Default Re: Living in Mexico

    Quote Originally Posted by Melonie
    This is one case where Scorpio and I are in complete agreement. Unless you or your wife have Mexican citizenship, 'owning' a home in Mexico is pure fiction. It basically amounts to paying 50 year's worth of rent in advance ... unless as Scorpio points out the Mexican gov't comes up with a reason to dispossess you from your house ahead of time (like for example having added $100,000 worth of home improvements which you won't be compensated for when you're given the boot ).

    US citizens wishing to take advantage of the wicked low cost of living in Mexico are better off renting, investing the money they would otherwise have spent 'buying' a house, and letting the dividends and interest from those investments make the rent payment ! Besides, there's always the risk in Mexico that your 'neighborhood' can turn to shit in a heartbeat, and if you are renting you can simply walk away !
    I actually first thought of renting , I also am thinking about a huge garage that will fit an RV ( which I will own ) just in case I want to move I can just go . I really have not heard many stories about people getting ripped off by the gov down there but I am investigating what I can . The laws have changed considerably in the last ten years . I hate to say it but this country is turning into the rip off my property tax alone is 5k a year and on the rise .I love living here but man I like the beach type of weather simular to San Diego and such but I dont have the 2 or 3 mill to get that type of place I can go to Mexico slap down 200k or less and get a sweet place on the water or perhaps one block back , and the 200k that I dont need to spend from my house sale will buy a lot of groceries down there .

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    Featured Member scorpio's Avatar
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    Default Re: Living in Mexico

    the laws may have changed, but in Mexico, laws are generally at the conveniance of the local officials. Listen to Mel and heed the words of a sage when he said-"If it floats, flies, or fucks-rent, don't buy!"

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    Banned Melonie's Avatar
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    Default Re: Living in Mexico

    the laws may have changed, but in Mexico, laws are generally at the conveniance of the local officials
    Very true ... and not exclusively limited to Mexico either LOL.

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    Default Re: Living in Mexico

    Quote Originally Posted by Muyaha
    "Besides, there's always the risk in Mexico that your 'neighborhood' can turn to shit in a heartbeat, and if you are renting you can simply walk away !"

    This can happen anywhere in the United States, any State. That's the chance of buying property.
    http://www.sancarson.com/casita.html Something like this perhaps not a lot of cash to drop enough room for me easy to lock up and go .

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    Featured Member Muyaha's Avatar
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    Default Re: Living in Mexico

    the house that you posted there's a bunch like that all around Mexico. I have been looking/ lurking around to other sites and I have seen something interesting, and the link that you provided had it too. There were prices for rent and prices to buy. I wonder what that is all about. UMM... something I'll look into. But my favorite house from that site was http://www.sancarson.com/fiesta.html

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    Default Re: Living in Mexico

    Crap I wrote a whole explanation and wipped it out . The place is awesome a little over the top for me . I am also toying with a living on a boat idea who knows but it is fun thinking about all the crazy things I could do .Watch this clip it kind of explains my new philosophy on life without the excessive drinking of coarse . http://www.visit4info.com/static/advert_pages/18020.cfm?

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    Banned Melonie's Avatar
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    Default Re: Living in Mexico

    I am also toying with a living on a boat idea who knows but it is fun thinking about all the crazy things I could do
    Now there's a concept I agree with ! 60 ft Catamaran with all the niceties sounds about right ! Travel up and down the coast with the seasons, anchor in Mexico all winter, avoid US water 183 days per year.

    Watch this clip it kind of explains my new philosophy on life without the excessive drinking of coarse
    Those must be DDD cups glued to the guy's head LOL !

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    Veteran Member Lovespell's Avatar
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    Default Re: Living in Mexico

    I am also thinking of living in Mexico in a few years, probably renting some beautiful house. But that is years and years from now, after I do all of my traveling around the US and overseas.

    I would not dance in Mexico, more like where I would go for retirement after I'm done dancing.

    Any info or websites I should check out?

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    Default Re: Living in Mexico

    Quote Originally Posted by Melonie
    Now there's a concept I agree with ! 60 ft Catamaran with all the niceties sounds about right ! Travel up and down the coast with the seasons, anchor in Mexico all winter, avoid US water 183 days per year.



    Those must be DDD cups glued to the guy's head LOL !
    Ya they are real close in size LOL , I love that clip isnt it funny ?

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