How To Buy Non-Coastal Property In Mexico As A Foreigner (STEP-BY-STEP)
ฝัง
- เผยแพร่เมื่อ 28 ก.ย. 2024
- I’ve been spending the last few weeks finalizing all the paperwork and legal stuff to own my very own place in Mexico City, and I thought I’d break down my top tips and 6-step process to buying property in the city as a foreigner if you want to join me! I talk about financing options available to foreigners in Mexico, WHY it’s such a good time to move in the first place, how to find legit brokers and lawyers, and so much more.
**ATTENTION: I have a new Instagram and TikTok handle @itsrosehan **
That's my official account, and I will NEVER message you about investment schemes, so please be careful and block & report any scammers posing as me.
TRUSTED REAL ESTATE CONTACTS IN MEXICO CITY:
Real Estate Agent:
Alejandra Leon
al@iarequipa.com
+52 55 5217 9827
Mortgage Broker:
Juan Carlos Monterde
juancarlosm@centralhipotecaria.com.mx
+52 55 4241 7076
Notario:
Jose Maldonado
jose.maldonado@notaria5.com.mx
+52 55 4321 3633
Tax Advisor:
Luis Gerardo Gonzalez
lg-gonzalez@gonzalezsalum.com
+52 55 2971 7923
TIMESTAMPS
00:01:33 - Why buy property in Mexico?
How to buy property in Mexico as a foreigner, step-by-step:
00:02:42 - Step 1: Find a place you like!
00:06:04 - Step 2: Negotiate a price
00:06:49 - Step 3: Find a notario and start the paperwork
00:10:21 - Step 4: Sign the contract
00:11:53 - Step 5: Close on the property!
00:13:44 - Step 6: Enscripcion de la propiedad en el registro publico
00:14:14 - Financing options for foreigners
00:15:15 - Real estate prices in Mexico City
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**BOOKS I RECOMMEND 📚**
I Will Teach You to Be Rich (hilarious how-to book on personal finance for millennials)
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The Little Book of Common Sense Investing (Jack Bogle's classic advice on index funds)
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InvestED (step-by-step, millennial-friendly advice on how to pick stocks like Warren Buffett)
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Unshakeable (this book = courage. blast ALL the fears & misconceptions you have about investing)
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Rich Dad Poor Dad (#1 selling personal finance book of all time... need I say more?)
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Think and Grow Rich (the ultimate book on money mindset and wealth consciousness)
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**MY FAVORITE MONEY TOOLS 🖤**
YNAB (I literally can't live without this budgeting app, so obsessed)
www.youneedabu...
Wise (like Venmo but for international currencies - I use this app a LOT for my life in Mexico)
wise.prf.hn/l/...
Ledger Nano S (crypto storage hardware wallet, because "Not Your Keys, Not Your Crypto"!):
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DISCLAIMERS & DISCLOSURES ❤
This content is for education and entertainment purposes only. Rose does not provide tax or investment advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. All investing involves risk, including the possible loss of principal.
This description contains affiliate links that allow you to find the items mentioned in this video and support the channel at no cost to you. Investing With Rose is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to www.amazon.com. Thank you for your support!
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SAY HI ON SOCIAL! 👋🏼
Website: www.rosehan.com
Instagram: / itsrosehan
TikTok: / itsrosehan
Pinterest: / itsrosehan
Hello Rose. I'm the mortgage broker you mentioned. I think your summary of the entire long process is excellent and very complete. Very precise not only in each step but in costs. I recommend to all those who are interested to come to Mexico to grow their assets in a safe way..🏦💰📶 Thanks
Do you have an Instagram where you post listings ?
Can u send prospective listings of value and interest to my email or share your email so I can send a request for direct listings availabke
Interested in buying peoperty. Please help. Also, how can one grow their assets in Mexico?
Hello, I'm interested in purchasing a house. Could we connect to see some listings you have?
People, this guy JuanCarlos is NOT the Alejandra that she mentions in the video. The REAL Alejandra’s info is in the description.
I met with Alejandra and her team a few weeks back while in CDMX and she is so. freaking. amazing. She set us up with a full day of tours, provided a car + driver to take us around, somehow managed to convince owners of neighboring units to let us walkthrough their space so we could get a sense of what the unit could look like when fully furnished, and generally went above and beyond to answer all of our questions and provide an incredible experience for us. She was awesome. Thanks so much for the reccomendation Rose!
Hi how can I be in contact with Alejandra or if Rose can provide recommendations
Rose left her info in the description 👍
I moved to Mexico and bought a house in 2005 after selling my Florida home and got to put only 25% out to buy an equivalent home in Mexico,
I’ve since sold the Mexico home for a tidy profit and I’m back in the US taking care of an elderly parent.
When I’m able to go back to Mexico, I’ll go back with bells on. I loved it so much.
But, I don’t think I’ll buy for the first couple of years. I want to travel Mexico like a free spirit, and learn more about this amazing country. And perfect my Spanish!!
9k how much tax did you pay in total on the sale
Been living in CDMX for 3 months now. Supporting local Mexican businesses, street vendors, assimilated into Mexican culture. If you move here, don't shop or eat at American owned businesses! Those greedy corporations already have enough money, support Mexican businesses!
People who move to America from other countries should do the Same. Assimilate to the culture here and shop at American owned small businesses.
@@DoubleJabSlipRightHand SMALL businesses is the focus 🙏🏼💜
@@DoubleJabSlipRightHand but the dollar is strong. It’s not the same thing
The real Americans are the brown people of Mexico, Nicaragua, Venezuela, Bolivia, etc.
@@DoubleJabSlipRightHandpeople go to Mexico for cheap living, not the same
Congratulations on your new home purchase in MC! You did a great job researching and presenting the information in this video. You look so happy, I'm very glad for you.
Man so much gems and information shared in this video, thank you, thank you, thank youuu!! You make me feel like I can do anything Rose. In the words of Kanye, wait till I get my money right!
This is very helpful. Thanks, Rose. I am retired and have been living in Thailand these past ten years but my Medicare is useless here so I am considering finding a place in Mexico to do the healthcare run. The US is not a place for retirees. I am not in the same financial place as you and would be happy to rent a place in some town like Ensenada or thereabouts. It seems that renting would be a better use of my money than a full purchase of something.
Stay in Philippines
"Because she was f**king stupid, quite frankly." Tell us how you really feel. But really, thank you for your honesty. It helps every single person who watches your videos. This was fantastically thorough. I appreciate it.
Great info regarding closing costs; I like to point out that although closing costs are high compared to other countries, your property taxes are nothing compared, so you kinda offset that; in a way the government is getting their taxes off the bat upon closing vs throughout the years…
I loveeeee how thoroughly and detailed you were per usual rose! Thank you 💕
Welcome to Mexico.. be kind to the people, respect our culture and you should be fine ☺️
Same when someone comes to USA
Rose 🌹 I Love e/single one of ur videos, they are all VERY informative and educational. Your Spanish accent is hilarious 😂 but I commend you for learning it and using Spanglish to explain the terms.
I can’t wait for the tour video once you buy the place. Please do a before and after video of the property as I know you will upgrade and decorate. 🤗 🤗
I think a lot of folks missed the end of the video where you mentioned taking care of the community around you. 100% agree. Ultimately a rising tide floats all ships. Enjoy the new place. Or should we call it Jupiter's new palace. ;-)
Great! I love people talking from experience, hard to find on social media.
Thanks
I just got my temp visa approved - wish I found this vid sooner but glad I found it now. Lots of helpful info! Thanks!!
Rose your looking so tanned! Beautiful as always! Thanks for sharing this video!
Buy in the country you live in, Well said Rose, support local businesses. Congratulations! on your new home.
The next couple of months ought to be great with crypto related investments and getting into a good passive income program is ideal
Crypto is the future everyone knows that one
As a Single Mother Crypto investments has helped me pay my bills and live happy. Wish I invested from the early days.
Last night, the market cap dropped.
Yeah.. this is the best time to purchase.
Despite all of this crash in the trade market, this is still a good time to invest in Crypto.
Great job. Thanks for contributing to making housing completely unaffordable to the locals.
Yep. It’s funny how she makes geoarbitrage seem less exploitative and less colonizer like than it actually is by being so positive, charismatic, and “informative” in this video.
Ah don't worry Mexico is still allowing open border runs to America so they can destroy American's economy and force them to have to move to Mexico City
If they can afford a $150K place to begin with, they will be fine. That is at the upper end for the housing market in Mexico City.
Home prices are unaffordable in USA also. You're really complaining about the government.
Toronto 🇨🇦 has entered the chat
You guys have homes under 500k??? 😱
rents and house prices are getting higher thanks to you guys, now is harder for us that dont earn in dollars to live
Omg thank you!!! I'm trying to buy a home in Mexico City I'm definitely going to contact your broker. I've been so scared about who to ask for help in buying.
I hope we can see yoor house tour video the soonest. 😍😍😍
How did you transfer the money for the purchase from US to Mexico? My bank in the US is giving me the worst exchange rate to wire the money; I'll be losing over 10% just in the currency conversation...
Open a bank account called Wise. They don’t charger a lot when converting to another currency. Many businesses use this when they receive or pay people from another country
Same here
Love the brutal honesty! That’s what I’m talking about. Haha. Made my night with that
Thank you not being horribly disorganized. Useful information
ROSE! I'm not sure if you noticed but you're GLOWING ! Is it a tan? Looking greatt
1-do u have to renounce your citizenship?
2-do not, I repeat do not give any money to anybody unless there is a document involved....there is not requirement to give a deposit to make an offer....
3-HOw much % r your taxes based on what value
You have a good spanish accent Rose kudos to you.
High five 👋 from Yucatan
This was a really cool video, thank you so much for posting it!!! I’m excited to see more videos about your experiences and cost budgets while you live in Mexico, congrats on the home!
It’s amazing all the haters in the comments here. I’ve seen other channels with people who move to another country and it’s nothing but positive. I think you’re great. No hate here. I’m not scared of women doing well.
Great video. Very informative. Being from Southern Ca, I often think of purchasing a vacation home in Mexico. Thanks for sharing 🙏. Oh, and can Jupiter make an appearance in every video? Super cool 😎 dog.
Love your channel! I want to buy rental property in Mexico as well until I move down in the next few years.
Enjoy Mexico. Don’t buy us all out on the other hand lmao🙏
Payback for flooding America with Mexicans and destroying the housing and apartment market. Without Mexicans there would be way more housing for everyone else, less traffic, safer cleaner streets, quieter busses, etc
💯
Moving to Mexico soon! Best place to retire in Latin America and one of the best in the world.
Good luck Rose!
I also feel a great enthusiasm for Mexico. 🇧🇷
Please let us know about which neighborhood you bought your apartment and for how much and how big it is. Thanks
Wow Rose...did you get a nice tan?
And congrats on figuring out where you want to settle down and live! :D
Great video, this would be a great investment. I’m definitely going to look into it.
Can you do a tour of your current apartment? I'd love to see it.
I'm just in Airbnbs for now - hopefully will close and then move into my new place SOOOOOOOOON
Another good advice Rose ! I'm thinking of moving to Barrio Escobar in Medellin. They said its cheaper and peaceful.
I want to leave my country because of the corruption. Unfortunately, I don't think the corruption in Mexico is that far off. Still, very interesting video. Congrats on your new apartment, miss rose!
In México you never own a property is own by the state who only gives the posetion of the land but not the ownership hehehe at any moment the goverment could confiscate property. You need pay taxes for that proporty. Now new laws are going to passed to stop migration to México and visas are going to be imposed to US citenzens to stop gentrification that is ruining life in México and it is already very difficult to compete for resources in a city of more than 20 million.
The industry has driven home prices too high for most families. The solution is for prices to align with family budgets, even if it means a market correction. The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on the govt.
Especially with the current economic crisis around the word. This is still a good time to invest in Gold, silver and digital currencies ETH, XRP..).
What if you don't know how to trade any of these? I mean, see your point some people have the money and are willing to invest, the question is where to.
I agree, that's the more reason I prefer my day to day invt decisions being guided by a invt-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a invt-coach for over 2years+ and I've netted over 1.5million
Curious question for Females and Males. If you were to purchase something like a car or house would you prefer the same gender to be your salesperson?
What about waiting another year or two until the market goes down? It’s not really a buyers market right now.
Very informative and thorough, thank you.
Awesome content. I looked at La Haus. But it doesn't show anything in Veracruz. Any suggestions?
Hi rose, long time no see
You don’t want a house in east Asia instead?
Wow Rose good job !
Hi Rose I have been receiving some ads about bank-owned properties in Mexico . How can a future expat buy these properties 😮😮
Rose, your tan is settling in 🥰😍
The tan looks great on you!
This is so useful. Thanks for sharing.
Thank you for making this video. Are the apartments free hold or lease hold in Mexico?
Regular Agent is not a "Broker" the Broker is the Owner of the Agency. The Agents work for the Broker. Most Agents are irresponsible fabricating individuals. The actual Broker would tend to be more responsible with their business.
Good intel!
Where did you choose to buy in Mexico. Also what was the cost of the property
Question, is it true that foreigners purchasing real estate in property can only on the property for 100 years?
congrats!!
So cool; very happy for you.
4:19 Rose drops F-bombs? :D
Thank you Rose!
Awesome - but I am too far away to enjoy this hahaha
And totally impressed with the Mexican pronounciation
Thanks again , as usual,for the insights - what I missed was if these properties are "freehold" or "leasehold"
Hi! I need some help, so I'm trying to buy a house in México, I already choose a house, I already made a deal, but when I went to the notary they said I need a permission from external relationships, so I went there and they don't know what permission I need, so I need to kwon what kind of permission is that one so I can buy properties as a foreigner person, please
I have a general question that never seems to come to light... Mexico and the cartels... I have been reluctant and driven by family concerns have not acted on several opportunities in Mexico. Could the government take over all foreign investment. Any comments?
I may have missed this but what are the broker fees?
Congrats on your new home 🏡 🇲🇽
I want to move to pto vallarta
Your Spanish is really good.
can you give me the broker information please, thank you
Remember to support the local economy , don’t buy McDonald’s please
Congrats on move!
Good Job Rose !!! I want to do something similar. I want to be close to the beach though, and use it as an Airbnb. Thank you keep it the great videos.
I am Mexican and currently the country is a disaster and gentrification only makes things worse, states like Yucatán, Jalisco and of course Mexico City have increased their costs a lot thanks to foreigners, something that I do not see anyone mentioning about living in Mexico is crime and not because you are a foreigner you are exempt.
This is not something I will ever need, but then again I spent 4 yrs learning integral differential, which I have never used after…..
Lol
Good job 👌👍 and thanks😊
I love Mexico...it's paradise on earth but I was told by a few non-citizens(that have leased land in Mexico) , as well as legal professionals that Mexico doesn't allow non-citizens to actually """own"" land/property (even if paid cash outright). And at anytime certain types of individuals can take/strong-arm the non-citizen off/out of ""their"" purchased property. What's worse, apparently the Mexican government does not intervene when these types of injustices occur. If a citizen/corporate landowner decides to kick all the apartment ""owners"" out w/o buying them out ..... How can a non--citizen know 100% for certain, that their investment is protected/they have effective LEGAL RECOURSE?
I also heard of this.. guess you can apply for dual citizenship to become legal owner
Nope. Foreigners can buy land in Mexico. Thousands have. However, if it's beachfront, or , I believe within a certain distance from the beach, it has to be held in a trust with the buyer as the beneficiary.....the trust is called a fideicomiso. Now, yes, if you buy Ejido land, knowingly or unknowingly, which is land the govt gave to Mexican families......oh yes, a family member can come forward and say you purchased the land from another family member without their consent. Please research these two terms...fiddeicomiso and Ejido yourself. Very important.
@@migzchevy22 thank you 🙏
@@trace3254 thank you 👍
Move with me to Puerto Vallarta!
💕💯
great video, very thorough 👍👍... I was looking into moving to Veracruz at one point.
Glad it was helpful!
Everyday that goes by the more I realize we are just at the beginning of this. Thanks to all the hard work and dedication that has been going into crypto market.
Factos! Every new day, Bitcoin gains support and patronage of more and more politicians, billionaires, finance institutions and institutional investors. Could even surpass the 60k June 2022 forecast.
You're absolutely right Waiting for the government to provide is a big waste of time. Investing is how you create Wealth, I started investing from pandemic crash
I urge everyone to start somewhere now no matter how small, this is literally the time for that, forget material things, don't get tempted,i became more better the moment realized this.
How can someone who is just starting out navigate the crypto space? I don't have the heart to see the bulk of my portfolio go from green to red
@@laceycappaer2911
Investment is that tiny line that separates the RICH from the POOR. The foolish from wise sorry to say. I can proudly say I am wise today because I can provide for my family through my investments.
Do you need to pay special taxes to Uncle Sam on the home purchased in Mexico?
What about the fideicomiso ?
I also want to move to Mexico as a single 50 something year old man
You built a $100k camper van then decided to settle down?
Congrats!!!^^
I once was told that u don't actually own real estate as a foreigner when I travelled to Cancun and Cabo for a vacation years ago. Was I misinformed? or Is Cancun or Cabo real estate different from the rest of the country?
It's a little different when you buy beachfront property as a foreigner - you have to buy it through a trust or a company. I didn't mention this in this video but perhaps in a future video!
@@itsrosehan Gracias! I kinda guessed it would be a bit different but wasn't quite sure. Hope u have a good weekend.
Can i please have the contact infomation
Who / would you contacts be able to show / teach me how to rent ? I wanna buy a house in mex for like a vacation OR I wanna buy it and rent it to kinda get money back lol do you know if any of these 2 options is easier or safer or a good idea ?!?! Bc I’m just afraid someone is gonna live In the house / destroy it / take over it while I’m gone / here in the US 🤎
It's probably the only way I can get to eat an expensive meal 🤎
While it is great that you are settling in a new country, it is hard to for native locals to live in their hometowns as prices are increasing. Please do not forget them.
Yes as much as I commend her for being brave and moving to a new country as a single woman, I hope she (along with other privileged digital nomads) don’t bring their capitalism over humans tendencies from all of the developed and saturated countries they are moving from (US, Canada, and Australia). I hope they are able to assimilate to Mexican traditions and culture and respect the indigenous history and customs of Mexico and don’t bring their Eurocentric biases with them (biases that go hand in hand with capitalism and colonialism).
As someone whose family lives in Xochimilco, foreigners buying property in Mexico City hurts the locals.
@@Monicalala Same happens in Puerto Rico and worst. I understand your feeling.
Seriously. I love this channel but this video was a bad idea. Many are struggling in Mexico from the housing inflation caused by foreigners.
@@OneUnderground Haven’t see the video but I won’t. Seeing how people leave your country because they can’t pay their living and being replaced by foreigners that usually get the stuff cheaper and easier… it hurts. Usually this happens because the crap or corrupted government. I bet that is the reason they are killing tourists in Dominican Republic. People are reaching their limits. At least this girl is going to live there.
Lmfaooooo caught me off guard with the "cause she was f stupid" 😭😭
Well... she was 🤣
@@itsrosehan it’s just funny cause you partied with her and said this haha
Another excellent video! I hope that this works out for you, Rose! For others who may be thinking of doing this, keep in mind that this can be risky. Invest what you can afford to lose. Case in point...I worked in an Asian country for several years. Bought a condo. Lived the good life. Blah, blah, blah. Then, the political landscape changed, sharply. A new political party came into government and really stuck it to expats with new laws, taxes, regulations, etc. I wound up leaving the country and selling the condo for a 60 percent loss. Ouch, ouch, ouch! After that, I invest mostly in US stocks and real estate.
Thank you so much for sharing your experience! Which Asian country was that in?
at least mention the country so people can be cautious if they plan to buy in that country
In México property always go up.
This happens a lot in 3 rd world countries.. u can’t even trust your own family , plus ..you don’t have the protection of laws like in the u.s , a lot of corrupt people . I would just stick to the u.s or Canada 🇨🇦
I tried to post a reply earlier, but TH-cam wouldn't let me....hmmm. Sorry, I'm not gonna mention the name of the country I lived in before, because I don't want to offend people from there or to make them feel targeted. That's not the point. Plus, I returned to the US in 2005 to start over, so situations can change over the years. But here's the bottom line. Before you buy property anywhere, do your own "due diligence." This is especially important when buying property in a foreign country. Good climate, good restaurants, good shopping, good night life? Great! Those things are important. But what about the local politics, crime rate, economy, and property laws? Is there a huge wealth gap between rich and poor? Are neighboring countries peaceful, or are they threatening to invade? Etc. You really need to read up about these kinds of issues. A good, current Google search can reveal a lot. As you read the news, do you spot any trends, any red flags? After all, it's your money. You worked hard for it. Invest wisely. Peace.
Rose, you are officially a Chilanga now 🤙🏻 🇲🇽
I've been thinking about CDMX as a permanent place, but the Godzilla style earthquakes have made me think twice.
Congratulations Rose. Do you know if Mexico has any property inspections? Also, I assume you are buying an apartment. Do you know who owns the property the apartment building is on? Some buildings in Hawaii for example are on a reverse lease and after so many years the property owners can take back the property and can decide to have something else built on it. Could that happen in Mexico as well?? Thanks
"Looking beyond your own country is one way to do this." Amen! I've been in the Philippines for the past seven years (minus one year due to pandemic complications). It has its pros and cons but when it comea to financial factors there are quite a few upsides. Great video, Rose!
Hi! Could you please educate people on buying property responsibly? It really does affect and displace local communities abroad.
That's a problem of government, go to Philippines and try buying a house see how that turns out for you.
@@javierdiaz4763 we know the govermnent is not going to solve all of our issues. It's important people become aware of how video's like this are affecting the local economy. Gentrification will always be an issue, this is displacement. This is US salaries competing with Mexican salaries. Though it may be legal, this video is tone deaf.
Looking to finalize a deal in India. Have two bedroom apartments available for 55 to 65 thousand Canadian dollars.
The median in the states is $428,000. In California that's like a closet LOL the median over here is like $950,000