If you are considering buying Rocky Point real estate, there are 3 very important things to remember that will help you decide if it’s the right place for you. 1 – it’s close to home, 2 – great real estate deals are available and 3 – you need to be familiar with Mexico laws about foreign ownership. Let’s consider each of these 3 points in detail.
- It’s close to home. This is a really big advantage for Americans living in the south-west of the country. Rocky Point is often called “Arizona’s Beachfront” since it is only a couple of hours driving from Phoenix, Arizona. There is direct highway access, and this access is only getting better. A new highway providing direct access to California is also underway, and an international airport has just recently been opened; since it is this close to the U.S. border, it is one of the most easily accessible areas in terms of very short flights. Access throughout the continent could be between 1 and 3 hours.
To help make it that much easier a special system has been set up making the Rocky Point area a “Free Zone” where visitors can enter without visa documentation; while visas to enter Mexico are very easy to get (the whole process is carried out in a matter of minutes while getting off the plane and passing through customs,) this point is important for those who plan to stay in Rocky Point for an extended period of time – i.e. retirees and other real estate buyers.
- Great real estate deals are available. Rocky Point was seeing a boom just before the recession in the U.S. Because of this, there are now a large number of units on the market at reduced prices, from developers selling off the last units in completed projects, and owners who were counting on quick resale. With the benefits of Rocky Point, this situation is bout change very soon, making now an ideal time to buy into this market, before it picks up again.
- 3. You need to be familiar with Mexico laws. Even though there are many advantages, you are still buying real estate in another country. This means that different laws may apply to your purchasing process and ownership. One example is that owning in Rocky Point, a law in Mexico requires that you hold property through a bank trust. This law applies to all areas near the border or costal area. Ownership is completely safe, and you will have all rights as the owner of your property. The only “downside” is that there will be one more step in the purchasing process, and there is a small cost involved. If you are aware of this, you can count for the extra step, and avoid surprises. The small cost is more than balanced several times over by the low cost of Rocky Point real estate, but again, it’s important for you to know to avoid surprises. A reliable, experienced broker will fill you in on other similar laws relevant to your purchase.
If you are unsure about buying in Rocky Point, arrange a visit to confirm if it is the right place for you; after all, it’s close enough to home that you can afford a trip or two!
TOPMexicoRealEstate.com; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely