What's the difference between buying Lake Chapala Real Estate and Cozumel Real Estate? Perhaps you've been on vacation to one or both of these beautiful Mexico vacation and retirement destinations, and now you're starting to plan for retirement, to relocate, or own a vacation home. But did you know that there are key differences between these two markets that you should know about?
And did you know that there are some even more important differences between buying real estate in Mexico, as opposed to what you're used to back home in the U.S. or Canada?
You might have guessed this much, but if you haven't bought real estate in Mexico before, it's likely that you're not familiar with what those differences actually are. But this is no surprise; even the majority of foreigners who HAVE bought real estate in Mexico are unaware of the differences. Either they got lucky enough that everything went smoothly without having experienced knowledge to guide them, or they ended up in one of those unfortunate situations where what should have been the best experience in their life, turned out wrong.
"Too many times, real estate purchasers have made simple mistakes that could have been avoided. Why? Simply by not having enough information to make informed decisions," says Christopher Hill, CEO for Mexico of Stewart Title Latin America. "The results have sometimes unfairly damaged the reputation of the real estate market in Mexico – a fantastic and fair place to invest."
The big point for you now is knowing how to buy real estate in Mexico safely. A recently released e-book, Top Mexico Real Estate Guide: Buying Safely, addresses these very issues, outlining the points that make the real estate industry in Mexico different, and the steps you as a buyer need to take to minimize risks involve, and go through your purchasing process safely.
For example, did you know that as a non-Mexican citizen, you need to own your property in Cozumel, and any other location within 30 miles (50 km) of the beachfront or 60 miles (100 km) from the borders through a Mexican bank trust? Did you know that this bank trust gives you all the rights and benefits of direct ownership, including modification and passing on to heirs? Did you know that in the Lake Chapala area you can own the property directly, without the bank trust, since it is not near the coast or border, but that some buyers still choose to use it because of some special benefits it includes?
Top Mexico Real Estate Guide: Buying Safely addresses many issues such as this one which are essential for you to know when you buy real estate here. This e-book was published by TOPMexicoRealEstate.com, a network of Mexico's leading real estate professionals. The information was compiled from the advice and tips of 10 different member brokers, title company and legal experts. Each member contributed information gained from their direct experience in years of real estate transactions in their market area, pointing to the basics that every buyers needs to know.
Hill's reaction to the e-book; "I am happy to see, finally, such good information in black and white for all to obtain."
If you're considering buying real estate in one of your favorite vacation spots in Mexico, whether it's Lake Chapala, Cozumel, Cancun, Puerto Vallarta, Merida or any other area, it will help you a great deal to start your search and purchasing process with this e-book.
TOPMexicoRealEstate NETWORK; Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely
Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"
Region: Playa del Carmen real estate.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.
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