Rosarito Living
It is no secret that both Americans and Canadians choose countries like Mexico when they retire. One of the main reasons is the lower cost of living. In writing this article, the last thing I intend to do is say more of the same. Read below for some key insights into buying Real Estate in Mexico.
Featured Listings
Check out our most recent listings
Financing?
See all the available options
Location, Location, Location
Yes! Mexico was and continues to be a strategic point for medical tourism. Due to its location, Baja California is one of the places with the highest demand among pensioners and expatriates. But in recent years, younger generations have also found Rosarito to be a great option to settle down, rather than just a destination to have a good weekend. Young professionals who have the possibility of working remotely, because: What better office than your house by the beach? Or, young families who can enjoy a house on the coast, at a fraction of the cost that this would represent in California, for example.
Rosarito has a community of approximately 18,000 foreigners, mostly Americans and Canadians, who reside here permanently or part-time. A number that continues to grow exponentially. Many of them invested in a house for personal use, or as an option to generate additional income, venturing into a highly demanded hospitality market which in the last year had an average increase of 60%.
Here some important
Key points to consider:
INVESTMENT
The Mexican real estate sector is a booming market that is projected to grow to $2.4 trillion, supported by a steady growth rate of 2.9%. Construction and real estate development sectors are very strong and heavily invested in by national and international corporations. Tourism and hospitality, although having slowed down like many things during the pandemic, have not stopped growing and are experiencing a strong rebound. Buying a property to rent, remodel or build is a lucrative market. Business investments also offer substantial returns on investment for those who wish to start a business in Mexico.
Bank Trusts and Financial Corporations as tools for the foreign investor
BANK TRUST
Mexican law allows foreigners to own private land outside of the restricted zones, which are within 100km (62 miles) of a land border or 50km (31 miles) from the coast. If you are not a Mexican national, you may still purchase land in the restricted zones by setting up an irrevocable Bank Trust called a Fideicomiso through a Public Notary and a Mexican Bank. A Fideicomiso grants you the right as a beneficiary to do whatever it is you’d like to do with the property; own and occupy, build, sell, rent, give away, and even name a beneficiary upon your death. The trust holds the deed to the property in which you and other persons are sole beneficiaries, has a term of 50 years and can be renewed indefinitely.
Mortgage is possible
In Mexico, it is estimated that 90% of all real estate investment transactions in Mexico are in cash. Well, until a few years ago, financing foreigners required making an initial payment of over 30%, with very high-interest rates.
However, the high demand for financing schemes for the acquisition of properties by foreigners has allowed banks and mortgage companies to offer a wider, better range of solutions for the purchase of properties in Mexico. Some banking institutions even offer up to 85% financing to foreigners, on the total value of the property, with a fixed interest rate and in pesos (8% to 11%, annually), on loan terms ranging from 5 to 20 years.
To help determine if Financing is available to you, please fill out the pre-qualification form.
Safety
Safety in Mexico is a concern and a common misconception when considering investing or visiting the region. Pop culture and the media attract audiences and benefit greatly from the danger, both glorifying and exploiting it. Yes, Mexico has its share of crime, just like any other place. Compare the issues to the same in the United States with street gangs and crime in general. You don't have to participate in that lifestyle or be a victim of it. Citizens and residents live safe and peaceful lives here. We take care of each other. Do you want to live in a safe, gated community of like-minded people? That is your community. Your neighbors may be expats residing here permanently or foreigners living here part time. Basic fundamentals; be aware, make a friend, meet your neighbor, your community, your real estate agent. The doors of tranquility are wide open and welcome
Location
If you have traveled south of California, you will know that Tijuana is a densely populated city with a fast pace of life. Ensenada is a bit far for those who frequently commute to the States. Rosarito is right in the middle. Whether you want to connect with nature, enjoy hiking, or just want a change of scenery, Rosarito is a hotspot for exploration and adventure. Not to mention its gastronomic offerings, starting with the Puerto Nuevo style lobster, one of the traditional dishes of the region.
Do you want to visit the famous Wine Route, in Valle de Guadalupe? 30 minutes. If you want to hike, a good walk through El Coronel is an excellent option. Do you want to go on an off-road expedition in the sand dunes? 15 minutes. But if sunsets are your thing, enjoying it from the comfort of your home is an invaluable experience.
Need I say more? Rosarito is a city on the rise, with an unbeatable location. Start exploring the investment opportunities that the neighboring city offers you!
No matter the reason, join a new community of foreigners, try a new lifestyle, or do more with your money, Rosarito is a great option!
Your realty partner in Baja
A project that allows me to combine my passion for service, experience and knowledge, to accompany my clients in their investment projects in Mexico. Guiding my clients and friends every step of the way; with professionalism, dedication and integrity.
Reaching your goals is my number one priority. If I've learned anything in my time, it's that dreams don't come true, they are built and also accompanied. Nothing gives me more pride than representing my clients in Baja California, to find your dream home. Offering maximum privacy and security, speed and efficiency. My years of experience have given me a clear understanding of the mindset of real estate buyers and sellers and a deep understanding of both sides of the border.
DELIVERY IS EVERYTHING!
Newsletter sign-up
Lates news and updates
