Buying land or a property in Mexico can be a great investment as real estate in this area of the world is much cheaper than comparable homes would be in Europe, the USA or Canada. The economic downturn that affected much of the world has been felt here, too, but prices are once again rising. Not quite so dramatically or quickly as in other parts of the world, to be fair, but the buoyancy is back! Take care when assessing the potential value of a property, though.
Property in Mexico
Choosing to buy a property in Mexico is one of those things in life that is entirely subjective. It is only a wise investment if it suits your situation. If you’re planning on renting it out when you’re not there, for example, or if you spend so much time in the country (or would like to) that paying for rent or hotel rooms seems like wasted money, then a home in Mexico could be for you.
Cost of living in Mexico
The cost of living, too, is lower in Mexico; not only is it cheaper to buy your land, buy (or build) your property and maintain it, but taxes are lower and maintenance costs are less noticeable. Despite the horror stories you may hear the majority of property and land purchases in Mexico go smoothly and without issue. So long as you retain the correct professionals to ensure that the home you are buying is safe, legally compliant and that you follow all the correct transferral procedures then there is no reason why you shouldn’t join the many thousands of happy, foreign homeowners in Mexico.
Location, Infrastructure and amenities
Keep in mind when looking for your dream property that location, local infrastructure (hospitals, train stations and airports etc), and local amenities to be found will all have an effect on the price of any property you consider. In fact you can boil your price expectations (for buying and for later renting out) on location and development in the surrounding area. Homes in one of the more developed areas will be pricier, but fetch higher rental rate. The best investment opportunities can be found in an area which is on the verge of development, or is mid-development.