Ocean front mansions for sale in Mexico represent an exciting opportunity for would-be home owners, investors, ex-pats and real estate holders. Mexico's exotic allure and low barriers to entry for expatriates make it an ideal place to live or to obtain property to rent out for extra revenue, keep on the side as a vacation home or upgrade and re-sell for profit. Here are some key points to keep in mind when considering Mexican ocean front mansions and homes for sale.
Navigating Mexican Real Estate Difficulties
In your quest to secure the waterfront mansion of your dreams, you may encounter some complications due to the fact that Mexico does not yet have a nationwide or official MLS like you may be used to in the States.
This can make it difficult to find oceanfront Mexican homes on your own. The best way to track down available homes for sale is to check with a trustworthy real estate professional. Unfortunately, the barrier to entry in Mexico's real estate industry is low enough that many unscrupulous individuals slip through.
Finding a trustworthy realtor in Baja, Cancun, Cozumel or Yucatan can take some time and patience on your part, and is similar to the process of finding a barber you trust. There are several different Mexican realtor websites that cater especially to expats trying to buy land and property in Mexico for the first time, such as Topmexicorealestate.com, which offer location specific listings for Tulum, Playa del Carmen and Akumal.
Mexican Ocean Front Property For Sale
One of the major reasons that expatriates are flocking to Mexican real estate markets in droves is the price of commercial and residential property. You can find beautiful cottages by the sea in Merida for as little as $35,000 USD.
Even larger homes within close proximity to the sea can be as affordable as $60,000 USD or less depending on their neighborhood, age and the number of rooms. There are closing costs to consider, just as when you're buying property in the United States, but even with these added expenses thrown in, it's almost always much less expensive to purchase larger properties and domiciles in Mexican cities than it would be in America.
For the real creme de la creme of Mexican oceanfront property, mansions are available within the range of $120,000 to $400,000 and upwards. The oldest rule of real estate stays hard and fast here - the better its position on the coastline, the more your given Mexican estate is going to cost.
In addition to the gorgeous views and absolutely crystal clear blue water, home owners living on one of Mexico's unspoiled coastlines will enjoy generally cheaper costs of living such as fresh and inexpensive foods and produce, reduced medical treatment costs and less expensive utilities.
Can You Rent Mexican Mansions?
Absolutely, there are plenty of expat and native-owned estates that the owners will rent out from time to time for use as vacation homes or temporary homes to visitors.
You can easily get a visitor's visa and rent someone else's Mexican mansion in order to get a real feel for whether or not the pace of living, the environs and the country itself are for you.
This way you don't plunk down a huge amount of cash on an expensive luxury Mexican home just to find out later that you're not comfortable living in it!
Viviun.com is one international properties listing website that allows visitors to link up with owners that want to rent out their estates all over Mexico when they're not in use. Costs of renting a mansion in Acapulco, for example, can range all the way up to $2400 USD per day!
Mexican Mansions in Acapulco
Acapulco is a natural choice for settling down in an ocean front home, but you'll pay extra for property in this well-known and highly sought-after locale. Part of the reason is the general world-wide appeal of this famous port city.
Tourism has been one of the area's major sources of income ever since Acapulco reached prominence as a vacation and luxury destination in the 1950's. To this day, the exotic allure persists, and drives up prices on oceanfront real estate, especially close by the city center.
Acapulco mansions on the water can list and sell for 20-40% more than similar properties in other, less desirable and popular areas. For some people, the touristy areas will be very livable and provide exactly the kind of experience that expats shopping for ocean front Acapulco mansions are looking for.
Others may find the highly tourism driven areas to be less authentic and comfortable. Again it's a matter of personal preference that should be explored through a visit before investing in Mexican real estate.
Understanding Title Transfers In Mexican Real Estate - The Escritura
Title transfers and guaranty go down a little bit different when you're buying a home in Mexico. For one thing, if you want to secure title insurance for your new property, you need to find a reputable Mexican title insurance company and furnish them with the deed to your new property.
This deed is called the Escritura. In addition, you must prove that there are no outstanding claims against your new home by issuing the title insurance company with a certificate of no liens. Once the company has all your necessary documents, they will peform a title search and present you with any outstanding problems that are preventing you from obtaining complete title insurance.
Unlike some other countries, in Mexico you must wait until you have closed on your new property in order to obtain title insurance. After this is complete you can present your title insurer with the necessary paperwork to start the process of becoming insured.
All in all, Acapulco remains an exciting spot for many people considering owning a home or browsing listings for ocean front mansions for sale in Mexico. By doing your homework beforehand and visiting the places you are considering living before you make a major committment, you can ultimately obtain a wonderful and expansive new home in a beautiful natural setting for much less than you would ever see a similar home listed in the USA. There's no doubt that ocean front mansions for sale in Mexico are going to continue to support a thriving expat real estate market.