Thinking of buying a Second Home in Mexico? As the old saying goes, there’s no place like home–and that includes your glamorous, go-to vacation spot. Owning property in one of your favorite luxurious locales makes jetting off on holiday a breeze.
The East Cape of Baja California Sur, Mexico is a home away from home for seasoned travelers seeking an upscale, picturesque getaway. Let’s take a look at some of the most common questions, and their answers, when it comes to buying property in Mexico.
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What kind of amenities should you look for?
Make sure that your new personal paradise grants you access to the decadent, first-class amenities you’re accustomed to.
When you purchase property at the Four Seasons Resort Los Cabos at Costa Palmas, the many lavish amenities at this regal retreat are included.
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Beach and Yacht Club
The Costa Palmas Beach and Yacht Club is a gorgeous gathering spot. Families, friends, and couples alike can sit back and relax in this picture-perfect setting.
The beachside bar is ideal for lounging and spending quality time with your loved ones. Sipping a glass of wine or tasting delicious bites around the firepit, under the stars.
Those looking to unleash their inner competitor can flex their skills on the beach. Options include high-octane water sports, a sports field, or exercising in a state-of-the-art fitness facility. Take a dip in one of the sparkling swimming pools, relax with a good book, or spend time swimming with your little ones.
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Marina Village
The resort’s premier port-of-call is a vibrant hub of activity where you can dock your yacht for some fun on dry land or charter a luxury watercraft to set sail on an aquatic adventure.
Pop in the whimsical boutiques to shop a curated selection of gifts and home goods, or mingle with your fellow travelers at one of several dining spots, outdoor lounge areas, or nightclub.
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Golf Course
The views at this world-class, 18-hole championship golf course designed by Robert Trent Jones II is on par with perfection.
Jaw-dropping desert and shimmering ocean views set this Los Cabos course a cut above the rest, making it an experience golf enthusiasts from all around the world come to enjoy.
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Can foreigners buy land near the coast in Mexico?
Another important factor to consider when you’re buying a second home in Los Cabos is whether or not you can actually purchase land on or near the coast.
So fortunately the short answer to this question is; yes, but you will face extra fees as an international buyer.
If you wish to buy property within 50 km of the coast (or within 100 km of the border), classified as restricted zones, you will have to make the purchase via a trust with a Mexican bank.
This type of trust is known as a fideicomiso. A fideicomiso is a renewable 50-year trust that costs approximately $600 per year.
It’s best to work with a notary to set up this trust, which is enacted during the closing and title point process of the property sale.
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How is buying a home in Mexico different from buying one in the United States?
Other than a few key differences, the home purchasing process in Mexico is relatively straightforward.
Once your offer is accepted, you’ll sign a sales agreement, as is done in the United States.
However, the contract will be written in Spanish and should be written by a Mexican lawyer to ensure nothing gets lost in translation.
The payment deposit is sent via wire transfer, and the seller contacts the bank to jumpstart the application process for the fideicomiso.
At this point, you’re usually granted possession of the property.
Within three months of the closing date, the Public Registry issues and sends you the final deed to your new home, which is called an escritura.
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What are the benefits of using a realtor?
Having a professional point of contact who is well-versed in the area is priceless to an international buyer. Your property agent can send you detailed photos, videos, and in-person updates on your properties of interest.
Essentially, a local real estate agents serves as your eyes and ears when you aren’t physically present. They’ll also have their finger on the pulse of the current real estate market. And they can provide feedback that goes above and beyond what online research alone can provide.
A reputable realtor can also advise you on which homes to pursue or pass up. They might even be able to give you the scoop on up-and-coming properties that haven’t yet hit the market. Essentially, they’re an interactive resource with access to valuable information you may not otherwise have searching on your own.
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What’s the best way to begin a property search?
Are you ready to start the process of buying a second home in Los Cabos? You’ll want to exercise your due diligence for the best possible outcome.
If you’re a frequent visitor to the area; what are the places or activities in Baja you enjoy the most? Consider proximity to these when looking for property. Will your new home be within walking or driving distance?
Come up with a list of must-haves (non-negotiables) as well as things you definitely do not want. When it comes to your second home or property, will you be arriving by yacht or flying? Convenient access to an airport and/or a suitable marina may greatly impact your decision.
Find a real estate agent with a proven track record of success to kickstart your search. Then clearly communicate your list of wants and needs.
Do your homework and visit your top property picks in person. Then you can plan a trip specifically for home shopping, or carve time out of your next vacation to see them firsthand.
Casa Blake is an iconic neighborhood that lies steps from the Marina Village at Costa Palmas. No detail has gone overlooked in the design, decor, and serene, dreamlike setting that comprise a Casa Blake residence. If unassuming elegance, playful sophistication, and access to endless first-class amenities are prerequisites, your search for a second home ends here.