Over the years, the southern tip of Baja has vastly changed. Its natural beauty combined with improved infrastructure has made it a haven for prestigious homeowners to live and vacation. As a result, luxury resort living has become synonymous with Cabo.
With vibrant ocean views and front yards that double as a private beach, it’s not surprising to see a growing number of elite buyers invest in Cabo, and more specifically luxury houses for sale in San Jose Del Cabo.
The San Jose Del Cabo real estate boom
What’s driving the real estate boom in San Jose Del Cabo? Several factors are at play. For starters, the area’s roads and airport received a major overhaul, making it easier to travel to and from Cabo.
Overall real estate sales are rising, as are individual home prices, so many are looking to buy now before prices skyrocket.[i]
In addition, high-end inventory is at a premium. While housing options vary, several developers are working to complete luxurious estates aimed at the world’s highest earners. To provide a premier combination of residential design and diverse amenities that showcase the Cabo’s beauty, developers are creating world-class accommodations with impressive amenities like beach clubs and renowned golf courses.
New developments aren’t the only allure. Cabo has become the go-to destination for the rich and famous. Social feeds are filled with celebs sunbathing and sailing on the tiny peninsula, fueling its popularity and creating a buzzy-worthy destination. Brad Pitt, Diane Kruger, Avril Lavigne, and Kate Hudson, for example, have all basked in the sun-soaked mecca of Cabo.
All of these factors have created the perfect San Jose Del Cabo real estate storm, causing something of a buying frenzy in the south.
What to know about San Jose Del Cabo’s location
If you’re looking to buy a luxury home, it’s important to know a little about Cabo’s geography. The southern tip of Mexico’s Baja California peninsula is usually referred to as “Cabo.” However, there are two distinct areas of Cabo: Cabo San Lucas and San Jose Del Cabo.
The two cities share a coastline and sit 20 minutes apart, but they are quite different. Cabo San Lucas is probably the more well-known of the two cities. It’s a newer, more developed area that’s become known for its rich nightlife and vast array of activities. San Jose Del Cabo, on the other hand, is an older, quieter city with narrow boulevards, pedestrian-friendly shopping areas full of original boutiques, quaint art galleries, and intimate restaurants.
There are a plethora of luxury homes available in both locations, but the character of each city should inform your buying decision.
Top luxury houses in San Jose Del Cabo
San Jose Del Cabo is home to one of Baja’s newest upscale resort and residences, Costa Palmas.
The resort and residence offer the finest in upscale living along the Sea of Cortez. With customizable beachfront villas and turnkey residences to choose from, buyers embrace the elemental luxury and elegance of the 1000-acre property.
The new development offers 24 luxury villas for sale, and each takes full advantage of the area’s unrivaled beauty. The villas offer floor-to-ceiling windows that highlight the Sierra de la Laguna mountain range in the distance and the sand dunes of the Sea of Cortez in the foreground. Cabanas await residents who want to relax on a calm stretch of beach, while a mega marina offers yacht owners accommodations for boats up to 250 feet long.
These features, along with a private beach club and golf course, make Costa Palmas one of the most highly-rated, top-of-the-line residences available in San Jose Del Cabo.
Things to consider when looking at San Jose Del Cabo real estate
When you’re ready to buy a luxury home in San Jose Del Cabo, here are a few things to think about as you begin your search:
Find a knowledgeable agent
To purchase any San Jose Del Cabo real estate requires several layers of expertise. For starters, you need someone who is acutely aware of the area and new developments. In other words, you need someone who isn’t just aware of the already-posted homes on the market, but also the homes that are about to be on the market.
Given Cabo’s popularity, your agent should know what developments are about to come online and what they offer. If new and up-and-coming areas like Amanvari, for example, aren’t on your must-see list, you know your agent isn’t working with the most up-to-date information.
Understand the buying process
Buying a home in Cabo means you have to adhere to Mexican property and tax laws. No matter how many homes you’ve bought and sold in the U.S., it won’t compare to the buying process in Mexico.
Until 1993, foreigners couldn’t buy homes with oceanfront property, but a change to the constitution now makes it possible through what’s called a Fideicomiso system.
Under this system, foreigners buy a home through a bank trust. The bank is the legal owner of the property, but the buyer has all the rights of ownership and can lease, sell, mortgage, or pass the trust to heirs. The trust is created for 50 years and can be renewed for another 50 years as needed.
As the buyer, you’ll also need a permit to buy the property. A real estate agent can help you obtain a permit through the foreign secretary’s office.
Have liquid assets
Mexican banks don’t dole out traditional American mortgages. Since most high-end home sales are made by cash buyers, it’s usually not a problem for elite buyers but it is good to know just in case you plan to finance a piece of the home.
Consider title insurance
With such a large investment, title insurance is a wise choice. Title insurance is single-premium insurance that proves that you, the buyer, are the lawful owner of the property. It protects against legal arguments over ownership. For example, if someone claims the property you purchase was willed to them, title insurance protects you against these claims – or reimburses you if the claim is found valid.
It’s an extra step in the buying process, but it’s also an extra layer of protection toward your investment.
Don’t go by pictures and video alone
Elite buyers often have full schedules, making it hard to take time to tour real estate. Technology offers everything from virtual tours to 360-degree photos, but it’s not enough to base your decision.
Use online tools to narrow your search, but once you have selected your favorite two or three homes – visit them. Make time to stand in each of the homes, look out windows and walk the layout. Visit the amenities like the private beach club or golf course, and drive through the neighboring town.
Buying San Jose Del Cabo real estate is an exciting opportunity that provides luxurious homes surrounded by unrivaled beauty. When you’re ready to explore a tropical paradise, be sure to explore San Jose Del Cabo real estate. Find your home-away-from-home today.