Now that working remotely is becoming more and more common, you may know a friend, family member, or coworker who owns a primary or second home in Mexico. It may be your neighbor who’s planning to retire to their beach condo in the next couple of years, or perhaps your parents’ friends who are tired of cold winters dream of seaside margaritas in the middle of December.
If moving to a sunny beach in Mexico has been a dream of yours, let me share five things that you need to know while considering the idea.
What to know before you move to Mexico
- As a foreigner, you can own a property in Baja California Sur through a 50-year renewable trust called a Fideicomiso. As the buyer and beneficiary of the trust, you will enjoy all the benefits and responsibilities for your house, condo, or terrain, which means you can use, rent, remodel, will to heirs, and even sell your property.
- Although most real estate transactions are completed in cash, you can apply to private lenders or developers for financing options. Of course, there will be certain criteria you need to qualify for, but it is an easy process guided by experts in the subject.
- Quality healthcare, as well as fully bilingual education, are readily available. We are seeing a growing trend of empty-nesters and families exploring the idea of living abroad and learning a new language while having complete confidence that their needs will be met.
- It is possible to rent your property. It doesn’t matter if you only plan to use it as a vacation home during the holidays and rent it out for the rest of the year or use it as a long-term rental. Either way, you can generate income and keep your bills paid throughout the year. Platforms such as Airbnb or VRBO comply with national tax regulations, plus, a professional accountant can guide you through the process of observing the local laws.
- The expatriate community is strong in Baja. Wherever you go, whatever you do, there is a sense of belonging and ease of living. Our local communities welcome nationals and foreigners alike, making them feel at home.
If you have had a dream of investing in Palmilla Los Cabos real estate, retiring in Querencia, or exploring any of the other luxury communities in Los Cabos, let me assure you that it is an enjoyable process that will benefit you and your loved ones. Start by asking questions, learn about the different areas and communities, and even visit us for a few days to soak up the sun and see what it truly feels like to live by the beach! Contact me for more information when you’re ready to make the move.
