The Complete Guide to Buying a Second Home or Real Estate in Mexico
More than a million Americans own second homes in Mexico, according to the National Association of Realtors. As home prices in the U.S. hit record highs, Mexico has emerged as a solid contender for people who are considering either buying second homes or investing in a vacation home or future retirement properties.
The U.S. State Department estimates that there are 385,000 Americans permanently living in Mexico, almost twice the number from a decade ago. Many are buying new waterfront resorts targeted to Americans in popular destinations like Puerto Vallarta, Cancun, Sonora, and the Baja Peninsula. The laid-back lure of Mexico?s beaches, forests, deserts, people, fishing, golf, and culture has been capturing visitors and second-home buyers for decades. Buying property in Mexico has become easier as a result of the North American Free Trade Agreement and through the use of this groundbreaking new book. Most living expenses are cheaper in Mexico, making this very appealing to retirees or those able to telecommute.
Now is the time for that second home purchase in Mexico, before the prices climb even higher. Recent figures from the National Association of Realtors show an upward trend in the number of second homes purchased for investment purposes. Investing in a second home now will be a great way to increase your net worth when you retire, if done properly.
You will learn precisely what to look for in a real estate investment and buying prospects, as well as how to make your current home groundwork for potential real estate investments, how to find the best opportunities, how to set values, how to buy with little or no money down, how to close, how to decide where to purchase, how to choose and hire a realtor, how to use your IRA, how to hire an attorney, and how to calculate monthly payments. You also will become knowledgeable about negotiating, financing, budgets, needs and wants, credit reports, home-buying timelines, the process of building a house, manufactured homes, real estate and mortgage terms, home warranties, homeowners insurance, creative financing, moving plans, walk-throughs, closing and settlement inspections, legal contracts, mortgages, what you can afford, which government agencies can help, the offer, and escrow. This book is a must-have for the investor considering a second home below the border.