Mexico can be a haven after retirement with its year long good weather, beautiful locales, affordable real estate, low health care costs, and proximity to US. All these add to the appeal of Mexico as a perfect retirement destination or a place to have a second home.
In Mexico, foreign ownership of lands as well as properties is legal and the purchase process is hassle free and easy. You can even own real estate in the restricted zones that fall within the 50 kilometers of coasts and 100 kilometers of international borders.
Since the most attractive parts of Mexico fall within these restricted zones, the government decided to open up the areas to the foreign real estate investors. The relaxing of law regarding owning real estate in these areas resulted in the growing interest from internationally acclaimed property developers. There has been a surge in the construction of modern residential complexes and attractive holiday resorts along the coastline.
Owning real estate in Mexico is hassle free
It is easy to purchase and own lands and property in Mexico, provided you follow the right path. There are precisely three ways of acquiring real estate in Mexico. All these three methods are safe and easy. These three ways are:
- Getting the property through direct deed and this method is applicable to all the properties in the interior of the country, except those in the restricted zones.
- Owning the property through Mexican Corporation and this is applicable to the commercial properties in the country.
- Properties can also be purchased through Bank trust or Fideicomiso and this is practiced in case of the properties in the restricted zones.
The buyer should obtain a title insurance to get an extra protection for the investment property. It is also advisable that they stay away from the lands that are marked as “ejido”. These are basically agricultural lands and owned by the entire community and you have to get the signatures from all the community members at the time of purchase, which is a very complex procedure.
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