Many people, including big names like Jim Cramer of CNBC’s Mad Money and TheStreet.com, suggest investing in real estate in Mexico. So that’s great – let’s invest in Mexico! It’s about as useful as being told to invest in stocks to make money. What actions? When? How much?
For a real estate investment in Mexico, you also need to know where, when and how much. Above all, if you are buying on a low budget, you will need to find good properties at a good price. Two basic steps can help you answer this question. One is to research online using MLS listings from reputable sites and information on different market sectors. The other is to contact an expert.
Some MLS listings offer properties from all over Mexico. You can start by calculating how much you can invest and take a look at the listings within that range. Navigate, see what’s there.
You can also search by area. Take real estate in Playa del Carmen, for example. You want to make a small investment, less than 100,000 USD. In options you will find:
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around $70,000 – a beachfront home, in a small gated community. This house could be rented out to vacationers looking for something a little quieter, away from the main tourist traffic. It’s only 10 minutes from town.
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approximately $90,000 – lots in an upscale gated community; homes in this area cost around US$500,000. It is a full-service marina and golf community, with a shopping center, church, school, and small store and restaurant.
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Around $100,000 – a 2-bedroom, 2-bedroom house in a new development, about 10 minutes from the beach. There is a swimming pool, 24 hour security and plenty of green space. A large property and community for renting to budget vacationers (a proven steady source of income), your own vacation or family life.
Of course, your options expand with a larger budget, with the most options in the $150,000 to $200,000 range. But there is no need to spend more; you can also explore a variety of areas. You can find more information on the web about the regions, how the tourism is and how the economy is.
After exploring your price range, however, the best source of information is an expert real estate broker. A qualified and experienced broker can suggest sectors and types of properties according to your needs. Their knowledge of the market will also allow them to advise you whether your plans are feasible or not, and to offer you alternatives.
Start your search today; whatever your budget, Mexican real estate will be an investment that suits you.