How To buy A Home In Mexico

A bank trust is the only legally and

accepted way for an American or any other non-Mexican citizen to

legally own property in Mexico.

The bank trust will cost about $2,000

extra beyond the cost of the property. The annual fees for the bank

trust will be about $350.00 each year. The annual fees are minimal

when you consider that property taxes in Mexico are generally much

lower than in the United states.

If you plan on paying cash for a low

cost property in Mexico then you will be able to easier purchase a

Mexican property. If you plan on getting a mortgage then you will

have to have lived and worked in Mexico for at least one year.

In the past Americans and Non-Mexicans

could purchase a property in Mexico as long is it was not part of a

“restricted” area. Owning a home on the beach was not possible

because of the restrictions. Now an American can easily buy a home

in Mexico, even on the beach. If a property you want to purchase is

in a restricted area then a simple bank trust will allow you to own

property in Mexico anywhere.

The Mexican government is ware of the

benefits of allowing non-citizens to purchase property so they set it

up to easily allow Americans to purchase Mexican homes and property.

To ease your comfort level in the home

buying process you can use an Escrow company that is based in the

United States to purchase your home and property in Mexico. There are

many American escrow companies that specialize in Mexican property.

When you have a bank trust set up for

your property the bank is not allowed to transfer, sell, or do

anything related to your property with out your written permission.

Contrary to some beliefs, purchasing a home in Mexico and setting up

a bank trust is safe, easy, legal, and effective method of owning

property in Mexico.

If you decide you want to sell your

Mexican property you legally can. You can also arrange to have the

Mexican property you buy to be passed onto a beneficiary of your

choice in case you die.

When purchasing a home in Mexico you

can find many different types of neighborhoods and areas. You can buy

a home in a community that is predominately populate by Americans.

You can buy upper scale homes or little shacks that are nasty

looking. You can purchase a Mexican Condo Unit or you can have a

modular home in a remote area with no neighbors around.

Regardless of the type of Mexican

property you purchase you will find the low cost of living and the

friendly Mexicans make for a nice place to not only visit in the

winter time but also to live year round and to raise a family. Image Credit: (Flickr/hmerinomx)