A house in Mexico

Buying a house in Mexico as a foreigner is absolutely possible and relatively easy. However, it is important to understand the legal process and local context. We can fully guide you in this. Here is a general guide to help you navigate the process:

1. Research: Start by researching the area where you want to buy real estate. Consider factors such as location, amenities, proximity to services and potential resale value. Without question, the most interesting regions for real estate in Mexico are the states of Yucatán and Quintana Roo in the southeastern part of the country. This is a large area. By comparison, Yucatan alone is slightly larger than the Netherlands. In Quintana Roo are well-known beach resorts such as Cancun, Playa del Carmen, Tulum and Bacalar. Consequently, investment opportunities vary greatly by area. Thanks in part to our local network and knowledge of developments, we have a keen sense of where the best opportunities lie. If you are considering the house as an investment, we can give you input on an operating budget based on current market data and trends.
2. Legal aspects: The entire coastal strip of Mexico and international border areas are restricted. It means that in those areas, as a foreigner, you can only own real estate through a so-called fideicomiso (a bank trust) or by establishing a Mexican corporation. In practice, this is a formality and the annual costs involved are about the same for both options: around 500 euros. Which option is best for you can, of course, be determined for your specific case and formalized with the help of a lawyer.
3. Financing: You may already have an idea of what financial options you have and thus have determined a budget and a desired rate of return. For example, you can arrange your financing from a limited liability company, from private assets or through a (second) mortgage on your Dutch home. There are certainly mortgage lenders in the Netherlands that will allow you to spend the mortgage amount on foreign real estate. If required, we can recommend an expert Dutch financial specialist who can advise you on this.
4. A local broker: The moment you have determined with us where the best opportunities are for you, we will look further. Broadly speaking, there are two options: new construction or existing construction. We work with a reliable, independent and realistic real estate agent in Tulum, who can see what the possibilities are based on your needs and budget. In the case of new construction, there are several projects where free lots are available. Of course, the real estate agent will accompany you in the purchase of the lot or house in Mexico. He is also the one who does the negotiations on your behalf. For legal due diligence, we have a lawyer.
5. Closing Process: The closing process in Mexico includes transferring the title and paying applicable taxes and notary fees. The lawyer and broker will help you go through this process and make sure all the necessary paperwork is filled out correctly. Once the transaction is complete, title to the property is transferred to your name or to the name of the trust or corporation that owns the property, depending on the legal structure used for ownership of your lot or house in Mexico.
6. Architect: Once you have purchased a lot, we start working as the architect. By this time, based on our mutual conversations, we already have a good idea of what functional and aesthetic requirements your home will need to meet. We look at the restrictions on the lot such as maximum building height and create a first draft. This outline consists of volume studies of the house and mood/reference images of projects that appeal to us. We will discuss this with you and with your feedback, if any, we will proceed and create a preliminary design. A preliminary design determined what the house would look like, its layout and what materials we would use. If you are satisfied, we will work out the preliminary design in further detail. The moment the design is fully developed, we hand the project over to one of the two local architects we work with. With our drawings, they take care of the building permit, tendering and control during construction. Our local architects work exclusively with knowledgeable, reliable contractors.
7. Interior design: If your home was built, or you bought an existing home, it is important to take the interior design to the next level. Especially if your home is an investment, you can significantly optimize your return with a good interior design plan. With a well-designed interior, you can increase your returns by dozens of percent. A clear trend is that the atmosphere and luxury of an accommodation is an indispensable part of the vacation experience, especially in Mexico.
8. Property Management: Your house is ready so let the tenants come! That this does not come naturally is obvious. We will help you find a property manager. Which basically takes all the day-to-day worries out of your hands. This takes care of check-in and check-out, cleaning, repairs, communication with tenants as well as optimizing bookings. The property managers we work with are constantly looking ahead in the calendar. The moment they see that a gap is looming in bookings, this person ensures through promotions or discounts, for example, that occupancy remains high.

As you can see, with our network of professionals, we take all the worry out of buying a home in Mexico. Nothing stands in the way of you taking advantage of the growth we are seeing in this part of Mexico. Please feel free to contact us to get acquainted. We stand for a personalized approach.