Are you interested in buying a vacation home or second home in Mexico? If so, you aren’t alone. Many people from around the world fall in love with the country’s great climate, rich culture, and alluring charm. In fact, Mexico is the most popular destination that foreigners from the United States and Canada choose to buy real estate. If you’re wondering whether it is safe to buy a house in Mexico, you will be pleased to know that the country is quite safe for expats. In fact, crime statistics tend to be much higher in big cities in the United States and Canada when compared to Mexico’s popular expat destinations such as Puerto Vallarta. Keep reading more below about buying a vacation home or retirement home in Mexico.
Is it Safe to Buy a House in Mexico?
Many people from other countries that consider buying Mexican real estate want to know if it’s a safe decision. The truth is, Mexico is a safe country that offers an ideal lifestyle and cost of living for people who want to buy a vacation home or a second home. Specifically, many people decide to buy coastal property near or on the beach that they wouldn’t be able to afford otherwise. That way, they can enjoy the perks of living by the ocean such as enjoying a warm climate, a more affordable investment, and access to outdoor activities all year long. Also, buying property in Mexico is a good investment because property values tend to increase over time, especially for properties located near the beach. Investing in Mexican real estate is a safe investment and a smart way to protect your money in the long run.
Can Americans and Canadians Buy Real Estate in Mexico?
Are you curious about whether an American or Canadian can legally own property in Mexico? The truth is, Americans and Canadians can legally own property in their own name that isn’t close to the border or along the coast. If they want to buy a property at the beach or close to the border, there is a perfectly legal way for foreigners to own property in Mexico. In order to follow real estate laws in Mexico, a bank trust is required in these situations which is also known as a “Fideicomiso”. It requires an upfront fee to set up the bank trust, as well as annual fees, too. With the assistance of a real estate agent or broker who can help homebuyers navigate the purchase process, buying property in Mexico as an American or Canadian is fairly straightforward.
In general, it is safe to buy a house in Mexico. You and your loved ones will love having a comfortable and beautiful place to enjoy vacation together in paradise, or maybe you will even decide to move full time to Mexico. Also, there are few restrictions on the ownership of residential property in Mexico, and you can hold the title in your own name if the home isn’t located near the border or at the beach. If it is, you can hold the real estate in a trust to comply with Mexican real estate laws for foreigners. Are you ready to buy a house in Mexico? If you are, check out Lemuria Residences in Puerto Vallarta. Situated on Banderas Bay on the country’s Pacific Coast, Lemuria Residences are luxury beachfront condominiums that also come with high-end amenities and services, too. Contact them today to learn more!
About Lemuria Real Estate
Ideally situated on Puerto Vallarta’s exclusive South Shore, Lemuria Residences is a new luxury condominium complex that belongs to a Master planned community designed by the prestigious Gensler Global Architecture firm. The ecologically planned themed property includes more than 1700 acres of preserved Sierra Madre jungle with stunning views of the mountains and Banderas Bay. The outstanding onsite amenities include multiple pools, BBQ areas, restaurants, a 2000 square meter spa, Sports Club, gym, tennis courts, pickleball courts, organic herb garden, and yoga spaces. There are also freshwater rivers and private hiking trails located nearby so it’s the ideal place to invest if you want to be close to nature. Contact Lemuria Residences today to learn more about our luxury beachfront condominiums for sale in Puerto Vallarta.