I am an American but I would like to buy a vacation home in Mexico, half way between Ensanada and Rosarito by the beach...Is this a bad idea? Homes there are so cheap...But when I was younger every time my friends and I went to Rosarito, we would get pulled over and hassled by the cops when passing through Tijuana
2007-12-09 11:17:18 · 3 answers · asked by puffer fish 5 in Business & Finance ➔ Renting & Real Estate
I have been going to places south of Ensenada but on the toll road every year on church mission trips since 1989 and have not had any trouble with police. The homes are not so cheap anymore, maybe $200-300,000 for a condo in one of the big developments. This is still a whole lot less than a similar unit in San Diego or Coronado.
2007-12-09 11:22:54 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Be sure that you understand local law and obey it. Mexican law prohibits foreigners from owning property within so many miles of the sea coast. There is a way of getting around it with some kind of trust agreement, but if you break the law, you could lose your property. The trust agreement lasts for a given number of years , and then can be renewed. I recall some people who ignored government officials desires, who were denied visas, and were unable to renew their trust agreement. They lost their ownership rights.
2007-12-09 11:35:26 · answer #2 · answered by Bibs 7 · 0⤊ 0⤋
It's NOT cheap anymore!
2007-12-09 12:44:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋