Pros and cons of buying a vacation home

May 30, 2019 by mexicanbeachbum

Pros and cons of buying a vacation house

Everyone adores that special time when they get to simply relax and have fun with their family. Whether you love going to the mountains or down to the lake, it’s always great to simply get away for a while. And all that relaxation might get you thinking about getting a piece of that heaven. You might start thinking about buying a vacation house. However, there are many things to consider before actually making that investment. That is, it is quite a big move that you have to consider carefully. Here are some pros and cons of buying a vacation house.

Pros of buying a vacation house

Of course, as with any type of investment, the best thing you can do is truly consider every facet. You need to look at your dreams from a realistic perspective. You might be dead-set on, for instance, even moving to Florida after a great week at the famous beaches of Miami. But you need a basis, a carefully thought-out plan. Here are some of the pros of buying a vacation house.

It is consistently perfect, and consistently yours

There is a certain allure to consistency, knowing that you get to go to your little piece of paradise every summer. And, why not, even winter. After buying a vacation house, you can get that feel of perfection every year. You can ensure that your kids have a great, stable, vacation every time. Also, if you’re set on visiting a certain place several times a year, it will certainly pay off more to buy it than to rent it every time you come.

With a vacation house, you can ensure your kids’ perfect vacation;

You basically have a second home

Having a second home is quite the appealing image. But imagine this: you’re retiring and you decide to retire and go on permanent vacation. Let’s say you’re from Texas and you want to escape from the sweltering heat. Your beach house awaits you, ready when you are, only with the added benefit of memories built there for decades. You simply pick up the phone and choose the best moving assistance in Texas and you’re there – living in paradise for the rest of your life. When you think about it, buying a vacation house actually means buying a second home for you and your family.

You can rent it out

Now, the amount you can earn from renting mainly depends on where you plan on buying a vacation house. If you buy a house near the beach, you can earn quite a lot of money. Nowadays, with various different sites involved in renting out someone’s vacation house, it is certainly easy to find people who are interested.

However, when considering renting out, you need to learn about the rules regarding tax. Also, you need to be able to handle the situation regarding maintenance efficiently.

Cons of buying a vacation house

There are also some drawbacks to buying a vacation house that you need to consider. Of course, while they all may be surmountable, you have to weigh the options yourself. Discuss them with your family and with an expert if you’re really set on taking this step. Sometimes, it’s okay to postpone our ideas for later and wait for the right time.

Your finances are not that great

Regardless of whether or not you can take out a mortgage, there are many other expenses to consider. First of all, you will have to pay for the maintenance, because you will not be there constantly. Maintenance includes repairs after storms, fixing any leaks, mowing the lawn etc. So, you need to map out your budget in the long run. If you’re not sure you can manage this step financially, it might be more prudent to postpone buying a vacation house.

Buying a vacation house is a hefty investment;

Another thing you should think about are the costs of furnishing the house. This can cost a pretty penny, especially when you’re thinking about buying new furniture. However, it might be a more affordable idea to simply move some of your furniture pieces from your house to your vacation home. After all, you don’t need that much while you’re on vacation. If you need moving services, find an affordable and efficient company, like Evolution Moving Company NB. Hiring professionals is much easier than going there and delivering it yourself.

You don’t actually go on vacation that often

It might be possible that you’re seeing your possible vacation paradise through rose-colored glasses. After all, you’ve returned rejuvenated, relaxed and refreshed. However, you should ask yourself a simple enough question – how often do you actually go on vacation? If you’re vacationing only one week a year, then it might be better to rent. That way, you will save yourself the money and the hassle. And nothing stops you from buying your home later on, when the opportunity arises.

Before you do that, consider another thing. If you’re moving abroad, it can be difficult to find the perfect home. That is why you should do extensive online research. If you’re considering Mexico as your destination, it’s best if you learn everything you can about Mexico real estate trends. There’s nothing better than good preparation. So make sure all your bases are covered when considering a purchase abroad.

What to consider before buying a vacation house?

As we’ve already mentioned, you have to approach buying a vacation house from a practical side. Here are some of the things you should consider before buying.

Location. Choose the location carefully. Some locations, no matter how alluring they may seem, are simply a waste of time and money.

The location of your vacation house is incredibly important;

Consider laws and regulations. This is particularly important if you’re buying a vacation house in a foreign country. For instance, if you’re considering moving to Rocky Point, Mexico, it would be best to learn all about the laws there. Otherwise, you may encounter obstacles along the way.
How much would maintenance cost? Draw up a plan to see how much maintenance will cost you in the long run. This will help you decide whether it is worth it.
Will you rent it? If you decide to rent it out, you have to consider the taxes and other costs.
Insurance. Insurance is pivotal with any type of property, especially when buying a vacation house. Because you’re not going to be there all the time, it’s best to take out insurance. However, if you’re renting it out, your vacation home will most likely not be liable for property insurance. But, you can always try other options.
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“Mexican Beach Bum” (Robin Miller) Realtor® is the Designated Broker for Mexico Real Estate and Document Services in the beautiful resort city of Puerto Peñasco-Rocky Point, Mexico, where the desert meets the ocean. Just 210 miles from Phoenix or Tucson and where income producing properties start at $75,000 and homes in town start at $30,000.
Being in the Mexico Real Estate Industry for over 13 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

**License #442 (licensing required by the State of Sonora)
**Accredited Professional Broker in Puerto Peñasco-Rocky Point
**AMPI member (Mexico’s Real Estate Association)
**Executive AMPI Board member of the local chapter 51
**NAR member (U.S. National Association of Realtors®)
**Member of the local MLS, Multiple Listing Service
**Have a full legal team, in house, to assist buyers with obtaining titles.

With my credentials and the support of my in house legal team, I am qualified to represent, and PROTECT BUYERS as they search for and purchase the perfect vacation home or income producing investment property.

It is important that a foreign buyer connects with a properly qualified licensed agent for their real estate search and purchase transaction. Licensed agents, AMPI and NAR members are held to high ethical standards; attend continuing education classes, and keeping up to date on current issues so they can help guide their clients through the buying and selling process in Mexico.

Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

robin@mexicanbeachbum.com
www.mexicanbeachbum.com
www.facebook.com/mexicanbeachbum
www.youtube.com/mexicanbeachbumtv
View Puerto Peñasco/Rocky Point Real Estate For Sale
View Puerto Vallarta Real Estate For Sale

Expat Guide for working and living in Rocky Point

May 23, 2019 by mexicanbeachbum

Expat Guide for working and living in Rocky Point

Only two decades ago, Rocky Point was a sleepy fishing village. Today, it is a vibrant, not-so-small town with so much to offer. If you want to know more about life and work in this popular expat enclave, you’ve come to the right place. Let’s talk about working and living in Rocky Point – one of the best places to live in Mexico.

Lots of things make Rocky Point such a popular relocation and vacation destination. There’s the proximity to the US, warm climate, low cost of living, stunning nature, friendly people, rich history and culture, just to name a few. Spanish is the main language, but English is also widely used.

Becoming part of the Rocky Point community

Moving from the USA to Mexico is a growing trend. In fact, around 2 million American expats currently live in Mexico, and Rocky Point is one of the most popular cities. Its population is around 62,000 and most of its residents are either local fishermen or expatriates who work and live in Rocky Point. Its full and part time expats engage in charity events and community activities, as well as social clubs and organizations. The locals are very friendly and willing to help, especially if you ask in Spanish.

The cost of living in Rocky Point

Expats coming from a country like the US are pleasantly surprised by how affordable Mexican cities are, even the large ones. Although some items are pricier in cities with more tourists, such as Rocky Point, some neighboring towns are cheaper. As little as $400 per month can be enough for a small apartment, food and utilities. When it comes to transportation, the locals may find it expensive, depending on their monthly income. From an expat’s perspective, it is rather affordable but, again, it depends on your salary. You can easily find a taxi and go from one part of town to another for 30 pesos ($1.50). You can easily travel to other Mexican cities by bus, train or car. Your move does not have to be expensive either. There are numerous affordable moving assistance options at your disposal if you know where to look.

Some local stores sell special American food products including salami, bacon, sausage, pie, diet soda, cheese, bagels, English muffins, spices, etc.

Working in Rocky Point

In Mexico, the minimum wage is approximately $4.00 a day, while personal income tax rates are around 32%. The main driving force of Rocky Point’s economy is tourism, while fishing is a close second. Since the city wants to focus on tourism and foreign visitor services, bi-lingual candidates are the most likely to find employment. Expats may find job opportunities with existing foreign owned or managed businesses in this area. In order to work in Mexico, you need permission from the Mexican government. Without permission, you risk being arrested and fined. You can apply for the work document at the local immigration office or any Mexican Consulate office in the U.S.

Finding a home

Whether you are buying or renting, looking for a house, condominium, or apartment in this city, there is a lot to choose from. Check out Rocky Point listings and start your hunt for that perfect beach home you have always dreamed of. Bear in mind that this is a very important investment, especially if you are purchasing a home. Therefore, make sure you have a reliable real estate agent by your side. This is the smart thing to do even when buying real estate in your hometown, let alone a foreign country. Only an agent who knows the area is the right person for the job. Also, we advise you to get homeowners or renters insurance. Working and living in Rocky Point is safer than you think.

Moving your belongings

Before you start working and living in Rocky Point, you need to pack your bags and find a convenient way to get them to your new address. Moving to a foreign country all by yourself it a risk you don’t want to take, trust us. Let professionals handle this part for you. Look for a moving company with experience in this type of relocation. A company that has been working with expats for many years is guaranteed to meet your needs. First, make sure they have a professional-looking website, such as wolleymovers.com, then, contact them personally and schedule an in-home estimate. Do not forget to ask about additional services, like packing and storage. Reputable movers will provide insurance protection, take care of the paperwork and send you the list of items that can’t be imported.

Recreational activities

There is plenty of fun to look forward to after your relocation is finalized. People from all over the world come to spend their vacation here, and that says a lot. With so many great and cheap things to do in Rocky Point, every day you spend here will be an amazing adventure. In addition to swimming and sunbathing, you can also try something less conventional, like surfing, kayaking, ultralight flying, ziplining, snorkeling, or scuba diving. Ride a boat or a jet ski. Attend concerts, off road races, and golf tournaments. Take your family to a seafood or gourmet restaurant and have a great meal at very affordable prices. The city is known for its fresh fish and shrimp. Nightlife is not too shabby either, with a wide choice of bars, clubs, and live music.

In the spring and fall, the weather is very pleasant. However, you can expect around 50 degrees in the winter and 90-95 with high humidity in the summer.

Residency and visa requirements for working and living in Rocky Point

You can live in Rocky Point with an FMM – the temporary tourist card (a.k.a. tourist visa) you get at the border when you cross it. Many people who rent do not even bother with getting a resident card. Foreigners who opt for working and living in Rocky Point must have a resident card, whether it’s a temporary or a permanent one.

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“Mexican Beach Bum” (Robin Miller) Realtor® is the Designated Broker for Mexico Real Estate and Document Services in the beautiful resort city of Puerto Peñasco-Rocky Point, Mexico, where the desert meets the ocean. Just 210 miles from Phoenix or Tucson and where income producing properties start at $75,000 and homes in town start at $30,000.

Being in the Mexico Real Estate Industry for over 13 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

**License #442 (licensing required by the State of Sonora)
**Accredited Professional Broker in Puerto Peñasco-Rocky Point
**AMPI member (Mexico’s Real Estate Association)
**Executive AMPI Board member of the local chapter 51
**NAR member (U.S. National Association of Realtors®)
**Member of the local MLS, Multiple Listing Service
**Have a full legal team, in house, to assist buyers with obtaining titles.

With my credentials and the support of my in house legal team, I am qualified to represent, and PROTECT BUYERS as they search for and purchase the perfect vacation home or income producing investment property.

It is important that a foreign buyer connects with a properly qualified licensed agent for their real estate search and purchase transaction. Licensed agents, AMPI and NAR members are held to high ethical standards; attend continuing education classes, and keeping up to date on current issues so they can help guide their clients through the buying and selling process in Mexico.

Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

robin@mexicanbeachbum.com
www.mexicanbeachbum.com
www.facebook.com/mexicanbeachbum
www.youtube.com/mexicanbeachbumtv
View Puerto Peñasco/Rocky Point Real Estate For Sale
View Puerto Vallarta Real Estate For Sale

Mexican real estate trends

May 17, 2019 by mexicanbeachbum

There are some countries which are known all over the world – Mexico is one of them. The climate is beautiful, the people are generous and approachable, and the beaches are heavenly, so what is there not to like? What Mexican real estate trends have been showing lately is that the interest in buying a home in Mexico is growing. If you are looking to buy a house on a budget, now would be the right time to do it. And it doesn’t matter whether you have your heart set on moving to Mexico or simply buying a vacation property – you will be able to profit from both. Here is everything you need to be aware of about the current real estate market in Mexico.

There are good reasons why people are rushing to buy a property in Mexico.

What are Mexican real estate trends showing?

The interest in buying a property in Mexico has been on the rise for the past decade. However, what the year behind us (2018) shows is that there has been a rapid growth in the purchasing of Mexican property. We can only assume what the reasons behind this are, but some say that the main reason is the fact that the entire country is becoming a better place for life. It only makes sense that with good living conditions people will be drawn to a country. So, let’s take a look into the reasons why the country of Mexico is becoming so popular, and why it might make you want to buy a house, hire a moving company such as Premium Q Moving and Storage Boston, and move your entire life to this beautiful and unique country.

You can get your money’s worth in Mexico

When compared to the USA, Mexico is a less expensive country. Let’s imagine you have 200,000 dollars at your disposal for purchasing a property. Of course, depending on where in the USA you wish to buy a property, for that amount of money you might only be able to get a condo. Clearly, we are talking about the city of New York. While in some other, less urban states you might be able to get a two-bedroom home, in Mexico, you can get a spacious beachside property!

Just think about it – you are waking up to the sounds of the ocean, white sand and blue sky. You have a problem discerning where the ocean ends and the sky begins. Sounds magical, doesn’t it? Well, that’s perhaps why Mexican real estate trends have been showing steady growth. You have to admit that when moving to a distant place, it’s much easier to adapt if you’re relocating to a country as beautiful as Mexico, don’t you think?

Isn’t this something you would want to see first thing in the morning?

Watch the value of your property increase

There are many areas in Mexico which are still developing. Naturally, we are not talking about the already urban and developed areas such as Mexico City. We are talking about coastal places which have the potential to become desirable tourist attractions. If you are smart enough to buy a property in one of these places, you will witness an incredible growth in the value of your property in a few years. It only makes sense that houses in developed areas with a lot of visitors cost more than the ones in undeveloped areas. So, when you look at the situation from this point of view, it’s clear that you can even make a lucrative investment out of buying a home. But for that, you would have to follow Mexican real estate trends and planned projects, so that you would be able to predict which area is the best one for your plans. You are still close to home

Mexico and Canada are the two closest countries to the USA. In fact, from some states in the USA, you can reach the Mexican beaches in an hour or so. If you decide to move to Rocky Point, which is one of the closest places to the border, you get the best of both worlds. Namely, you get to live in a coastal town while still being close enough to frequently visit your family. Not everything is about the finances when deciding where you want to live. A lot depends on your emotional state, as well. And if you are a USA resident, Mexico will be one of your first choices, which is why the Mexican real estate trends show growth.

The geographical position could have an impact on Mexican real estate trends.

Additional costs of buying a Mexican property

If you are already a homeowner, you know that there are many costs associated with buying a house. It goes way beyond the initial price of the property. Just like in other countries, there are some costs that the buyer is responsible for and some fees that the seller needs to pay. If you are buying a property in Mexico, the fees that concern you are:

Acquisition tax
Notary fees
Registration fees
Closing Coordinator & Escrow

As experts in Mexican real estate, we feel obliged to warn you that, sometimes, these additional costs can be high. You need to make sure your budget is prepared before making any decisions and buying something you won’t be able to return.

Finally, you need to realize that there is a good reason why Mexican real estate trends have been showing rapid growth. You already know that people wouldn’t be in such a rush to get to a bad place, which only tells you that Mexico is an amazing place for life. You don’t have to make a hasty decision – why not visit Mexico, for starters, and see whether life here suits you? There is no reason to rush – we are sure some property in this country will be left unoccupied.

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Being in the Mexico Real Estate Industry for over 12 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

5 great and cheap things to do in Rocky Point

April 28, 2019 by mexicanbeachbum

Are you thinking of going on a vacation to Rocky Point, also known as Puerto Peñasco? You’ll find that this beautiful resort town offers plenty of thrills for any sort of vacation-goer! And if you’re on a budget, don’t worry, there are plenty of cheap things to do in Rocky Point. Which is why we’ve decided to showcase some of them for you!

Relaxing on Pristine Beaches

If you are after a dream vacation, one look at the pristine beaches of Rocky Point will be enough to convince you this is the right destination. So, what are you waiting for? Really, winding down on the beach is the go-to vacation activity, and for good reason! A couple of minutes of watching the calm waves gently bumping against the sand, and you’ll look for a Master Moving Guide to move here for good! There are plenty of fishing boats around, as well as wave runners looking for a thrill. There’s always something to look at on the beaches of Rocky Point.

Plus, if you stay at one of the resorts nearby, you can end a perfect day with an evening massage, or a visit to the spa! But if you’re just after relaxing and cheap things to do in Rocky Point, its beaches are really all you need.

Paradise for Kite Surfers

For great ocean lovers, one of the most interesting activities available in Rocky Point is kite surfing. Just imagine it – blazing across the mesmerizing blue seas at top speeds, with the wind pushing you across the choppy waves! You’ve got nothing else to think about, and nothing to do – there’s only you and the surf board that you’re strapped to. It’s incredibly fun, gripping that big kite as you zoom across the ocean. This is definitely one of the finest cheap things to do in Rocky Point. One afternoon you spend kite surfing will make you want to find advice on moving across the country.

Naturally, you’ll need a degree of experience to have a true adventure out at sea. But if you need any lessons, you’ll find plenty of locals ready to give you a hand at some agreeable prices. There are also advanced courses, for those who have already grasped the basics. So, what are you waiting for?

Snorkeling and Scuba diving

Really, it’s not all about what’s on the surface of the ocean or lying on the wonderful beaches of Rocky Point, there’s a lot of fun to be had below the sea as well. That’s why we definitely recommend snorkeling and scuba diving as one of the most interesting cheap things to do in Rocky Point. Once you arrive, you’ll realize that the local aquamarine waters are crystal clear, perfect for observing all kinds of intriguing marine life.

This is really an amazing thing to do, fit for people of all ages. Plus, as the tides shift, you’ll get a different view each time you take a dive. And you can be sure there is a lot to see with such a great abundance of underwater life. The geological features are also an incredible sight to see, with dazzling coves and reefs all around. Really, if you want a memorable vacation, spend a morning diving in the Sea of Cortez!

Having fun on Banana Boat Rides

If you’re traveling to Rocky Point for the first time, you may not have heard about the most affordable among cheap things to do in Rocky Point – Banana Boat Rides! This is a fun experience for the whole family, and the best of all is – when we say cheap, we do mean it. A ride costs just around $5, making it truly affordable to anyone. Just make sure to speak with the boat driver before you sail out – he’ll want to know if you prefer scenic, slow sailing or a fun choppy ride.

For people with kids, this is really the go-to activity in Rocky Point. All children enjoy the mad thrills of the Banana Boat rides. So, take your whole family to the beach, find a boat – and truly go bananas!

Kayaking across the Sea of Cortez

Speaking of the cheap things to do in Rocky Point, there’s really no list of those worth its salt that doesn’t mention kayaking. For people who love exploring the ocean, but at a slower pace than kite surfing, renting a kayak is a really great idea! The sparkling blue Sea of Cortez was simply made for a kayak trip. Just one pro tip – make sure to bring a waterproof camera with you. Sure, you may be one of the people who like to enjoy the moment more than to record it, but trust us, in this case, you’ll be sorry if you sail out without a camera on hand.

Also – we recommend going on an early morning tour. If you time your trip just right, you stand a good chance of spotting dolphins swimming around in the water! You may even be able to see them up close. You probably can’t keep up with them in a kayak, but they may decide to swim beneath you at some point.

Final Thoughts

As you can see, there are plenty of interesting cheap things to do in Rocky Point. So, if you’re up for a truly fun vacation on a budget, don’t hesitate; start planning your trip to Rocky Point at once!

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Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

Tips For Traveling To Rocky Point For The First Time

April 8, 2019 by mexicanbeachbum

Tips For Traveling To Rocky Point For The First Time

If you’ve wanted to travel somewhere fun and exotic for a long time, we’ve got a destination for you. Puerto Penasco, also known as Rocky Point, can definitely be your dream destination that you will come back to many times in the future. However, you may have heard some stories about it and you are worried about the safety of Puerto Penasco, and we get it. Luckily, if you are traveling to Rocky Point for the first time, you have this guide ready. Here are the most important tips on visiting this amazing place for the first time – but definitely not the last!

Traveling for the first time can be an amazing vacation if you are well-prepared

Relocation

If you travel for the sake of getting to know the place before moving there – we can surely congratulate. If you plan the relocation well, and choose the right moving company – like Ample Moving NJ, you have nothing to worry about. Many Americans choose to move to Rocky Point, and you can be among them safely and quickly. You’ll be calling Puerto Penasco your new home in no time.

Traveling to Rocky Point for the first time – basic preparations

When visiting Puerto Penasco, make sure to have all the basics ready. These include :

passport – always have a copy of it with you. You can also bring a green card instead.
insurance – it is very important to get insurance in Mexico, since it is illegal to drive without it. Choose a safe option when taking insurance, and remember – it is much expensive if you take it when you come to the border.
if you are driving to Rocky Point – the car needs to be registered in your name.
purchase a phone plan suitable for travelling abroad. Roaming can cause a lot of problems and unnecessary costs if you don’t prepare for the trip. So be sure to buy an international phone plan for your mobile, so you can use calls and data at a much lower price.
money – you will need to change dollars to pesos. Even though ‘ Casas de Cambio’ – exchange offices are available everywhere, ATMs give you the best exchange rate.

Organizing your travel is the key to a safe and enjoyable vacation

Packing for Rocky point

For a fun, stress-free trip to Rocky Point, be sure to pack wisely, bringing the items you will really need over there.

Water

It is advisable not to drink tap water. There’s nothing wrong with it, it just contains bacteria that your body is not used to. However, you can use it to wash your teeth or take a bath, but bring some water bottles for drinking, or buy bottled water in Rocky Point.

Clothes and Shoes

Yes, you are going to the beach. However, if you are visiting in spring, bring a light jacket for cooler nights. In summer, it tends to be very humid, so cotton shirts and shorts are necessary, as well as the swimming suit. When it comes to shoes, rubber sandals/flip-flops are the best for the beach sand. Bring some casual clothes, too, if you plan on going shopping or visiting some other places than the beach.

Sunscreen

If you are traveling to Rocky Point for the first time in summer, be sure to bring a good sunscreen. Don’t let yourself burn so you can enjoy the rest of your vacation.

Basically, you can buy everything at local stores/pharmacies in Rocky Point. It is important to pack well, however, it is not a big deal if you forget something.

If you are traveling to Rocky Point for the first time – you should know this

When traveling to Rocky Point for the first time, there are some things about life there that you should know.

Summer months are probably the least popular for tourists. The reason for that is weather – it’s hot and humid. The busiest time is definitely Spring Break, so don’t be surprised to see a lot of tourists and have trouble finding accommodation during that time.

Street food is amazing. There are some great taco and hot-dog stands on the streets. However, you should be careful. If you are not sure about eating outside, simply don’t do it and pick some of the great Rocky point restaurants. Usually the menus are both in Spanish and English, so you don’t need to learn Spanish to eat here. Nevertheless, you should know some of the basic Spanish words and expressions just in case.

Figure 3 Mexican food is delicious, so be sure to try it out when traveling to Rocky Point for the first time

Pets can be amazing vacation friends. However, be sure to have all the documentation about shots before you head to Rocky Point. Most rental properties do not allow pets, please consider leaving them at home.

Shopping is great and there are many interesting items and souvenirs you can buy here. Be sure to have cash with you and be ready to use your negotiating skills. You can lower the price a bit, but don’t overdo it. Just keep the receipts of everything you purchase, in case you need it at the Customs.

Buying a property

You shouldn’t be buying a property in Puerto Penasco without the proper forms. If you plan on moving here, be sure to get help from a professional real estate agent for a smooth and safe purchase. Buying a property in a foreign country is never easy, so getting help from professionals is the best decision you can make. Furthermore, if your move is a long distance one, you should pick the right moving company, too. Moving to a foreign country on your own is difficult and stressful, so you should ease the process and choose a reliable moving company.

It’s time to enjoy

Your vacation is almost there, so be ready to enjoy it. Traveling to Rocky Point for the first time will be an amazing experience, filled with sunshine, amazing food, and having a great time. If you are prepared and know everything about your trip – you are ready for a new adventure.

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Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

Mexican real estate trends

March 27, 2019 by mexicanbeachbum

Mexican real estate trends

There are good reasons why people are rushing to buy a property in Mexico.

What are Mexican real estate trends showing?

You can get your money’s worth in Mexico

When compared to the USA, Mexico is a less expensive country. Let’s imagine you have $200,000 at your disposal for purchasing a property. Of course, depending on where in the USA you wish to buy a property, for that amount of money you might only be able to get a condo. Clearly, we are talking about the city of New York. While in some other, less urban states you might be able to get a two-bedroom home, in Mexico, you can get a spacious beachside property!

Isn’t this something you would want to see first thing in the morning?

Watch the value of your property increase

There are many areas in Mexico which are still developing. Naturally, we are not talking about the already urban and developed areas such as Mexico City. We are talking about coastal places which have the potential to become desirable tourist attractions. If you buy a property in one of these places, you will witness an incredible growth in the value of your property in a few years. It only makes sense that houses in developed areas with a lot of visitors cost more than the ones in undeveloped areas. So, when you look at the situation from this point of view, it’s clear that you can even make a lucrative investment out of buying a home. But for that, you would have to follow Mexican real estate trends and planned projects, so that you would be able to predict which area is the best one for your plans.

You are still close to home.

The geographical position could have an impact on Mexican real estate trends.

Additional costs of buying a Mexican property

Acquisition tax
Notary fees
Registration fees
Title and escrow fees

*************************************************************************************

Being in the Mexico Real Estate Industry for 13 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

Secure Title Escrow Office in Rocky Point – Puerto Penasco

February 26, 2019 by mexicanbeachbum

Announcing a new office in Rocky Point. It is “Secure Title Latin America”. They offer escrow services to real estate agents to use for their clients. Buyers and sellers of real estate open an escrow account and wire earnest money and also wire the balance of purchase funds, safely into this 3^rd party escrow company’s account. Once the buyer and seller are near closing, they authorize disbursement of the funds.

Secure Title operates through a network of offices in Mexico, Central America and the Caribbean, with escrow infrastructure in the United States. Each regional office provides a complete range of services that provide transparency, security and peace of mind to your transactions. When investing in real estate, you can trust Secure Title’s financial strength, professional service and leading technology to execute your transaction flawlessly.

Secure Title Latin America created this space for agents and their clients so they can visit and ask questions, get information, and have confidence and peace of mind. The office can explain the escrow wiring process and share with agents and clients the privacy and safety of funds using their escrow service. Real estate agents and their clients can visit the local Rocky Point office where you will meet the office manager, Azucena Marisca.

The office is located on the ground floor of Placita Melanie on Blvd Freemont in Puerto Peñasco/Rocky Point. Hours are Monday through Friday from 8:30AM to 5:30PM (closed 2PM to 3PM for lunch). You may want to call first to be sure there is someone there to receive you: 638-383-7788. The number at the headquarters in Baja: 619-819-5591.

So, stop by, enjoy a refreshment and say hi!

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Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

Foreigner Owning in Mexico

February 11, 2019 by mexicanbeachbum

OWNING IN MEXICO
F r e q u e n t l y A s k e d Que s t i o n s
» What is a FIDEICOMISO? (Mexican Bank Trust)
Pronounced “fee-day-co-miso.” This is a legal structure which allows non-Mexicans to purchase real estate property
located in the “Restricted Zone”. This zone encompasses the areas along the coasts and borders of Mexico.
Essentially, it is a recorded contractual arrangement where a property is held in “Trust” by a bank for a specific
purchaser, or beneficiary. In all material respects it is similar to the type of Trusts commonly used in the United States
and Canada to hold property for estate planning purposes.
In order to establish a Trust a permit is required from the Secretary of Foreign Relations. Such a permit is usually
issued for a term of fifty years and can be renewed for an additional term of fifty years. Contrary to the commonly held
misconception, a Mexican Bank Trust (FIDEICOMISO) is not a lease. It is a form of ownership in which real property
is transferred into a Trust for the sole purpose of the Beneficiary. It is not necessarily better or worse than fee simple
ownership . . . just different.
» What defines Mexico’s “Restricted Zone?”
Defined under the Mexican Constitution, the “Restricted Zone” is the land 100 kilometers from any Mexican border
and 50 kilometers from any coastline. In these areas, non-Mexicans may not purchase or hold direct domain over
any land, unless done so through a Bank Trust. Therefore, a FIDEICOMISO is required for any non-Mexican
acquiring residential property in these zones.
» What parties are involved in the FIDEICOMISO?
THE TRUSTOR (SELLER)
This is the individual or entity that creates the Trust (In most cases this is the original Mexican landowner or Seller).
The Trust is irrevocable, so once the Trust is incorporated, the Trustor will have no power to change any part of the
Trust or participate in it.
THE TRUSTEE
This is a Mexican bank authorized to act in such a capacity under the Mexican General Law of Credit Institutions.
Such banking institutions are strictly regulated and controlled by the Ministry of Finance and Public Credit, The Bank
of Mexico and the National Banking Commission. A Trustee may not be a beneficiary of the FIDEICOMISO. The
Trustee receives instructions from the Beneficiary and is empowered with the rights and necessary powers to achieve
the objectives set forth in the Trust Agreement and, at the same time, acts on behalf of the foreign Beneficiary in any
and all transactions involving the property held in FIDEICOMISO.
PRIMARY BENEFICIARY (PURCHASER)
This is usually the purchaser. As the Beneficiary of the Trust you enjoy all attributes of ownership including: use and
enjoyment of the property; the ability to improve the property; the ability to obtain financing using the property as
collateral; as well as selling or renting the property and retaining all resulting net profits. In essence, the Beneficiary
has the same absolute rights to use, benefit from and enjoy the property as if it were in fee simple ownership.
SUBSTITUTE BENEFICIARIES
Substitute Beneficiaries are those who receive the beneficiary rights upon death of the Primary Beneficiary.
Transferred upon death of the Primary Beneficiary, the Trust property will revert to the benefits of his designated
Substitute Beneficiaries. PLEASE NOTE: It is much easier for your heirs if you list them in the Trust Document than it
will be for them to acquire the rights through other legal channels, since your Trust Document can also act as a Will
regarding your Mexican property.
» What are the applicable Taxes?
PROPERTY TAX (IMPUESTO PREDIAL)
Property taxes in Mexico are very low compared to the United States and Canada. Your Seller will pay the property tax
up to the closing date. Thereafter, this will be your responsibility on a yearly basis. It is customary in Mexico for the
owner of the property to pay his property tax one year in advance.
Property Acquisition Tax and Registration Fee
The buyer pays the Acquisition Tax (or Transfer Tax) and Registration Fee. It is currently 2.9% of the declared value
of the transaction or the appraisal value, whichever is the highest.
» What is a Certificate of No-Liens (No-Encumbrance)?
This is a document issued by the Public Registry Office that certifies the current status of the property.
» What is the Foreign Relations Permit?
This permit is obtained from the Secretary of Foreign Relations in order to establish a Trust. The application for this
permit must indicate the proposed usage of the property. If the property is a vacant lot the request should include a
general development plan, as well as the amount of money being invested and the time frame for the project. The
permit is obtained by the Trustee on your behalf.
» What are the Bank Administration Fees?
If the Title is held in a Bank Trust there will be annual administration fees. The bank also charges fees to change Primary
Beneficiaries or establish a new Trust. Most banks are now quoting fixed fees of less than $750 per annum.
» What is an Escritura Publica (Public Deed)?
This document attests to the transfer of property. It is formalized upon being recorded at the Property Tax Office and
the Public Property Registry Office. Only a Mexican Notario Publico can issue this document.
» What documents will I need?
» If you are acquiring property as an individual you will need the following:
» Complete names of the Beneficiaries
» Complete names of the Substitute Beneficiaries
» Foreign address and telephone numbers for all Beneficiaries
» Official picture identification of all Beneficiaries (Passport preferred)
If you are acquiring property through your corporation:
» Exact corporate name and denomination
» Certified copy of the corporate bylaws and articles of incorporation translated into Spanish.
» In the case of Canadian corporations, said documents must be legalized at your nearest Mexican consulate or
embassy. If the corporation was formed in the United States, the documents must bear an apostille.
» Who is the Notario Publico (Notary Public)
The Mexican Notario Publico is a specialized attorney who has practiced his profession for at least five years and has
been appointed by the Governor of the State in which he is practicing. Notarios are strictly regulated and they
represent the public interest as opposed to particular parties. The Notario performs a very important role in that he is
responsible for performing all the correlative recordings and the title search in respect to all real estate transactions.
His duty is to draft the public deed and to confirm the validity of signatures.
Prior to closing, the Notario’s additional duties include:
» To examine the documents of the selling party to ensure their accuracy and legitimacy
» To verify title
» To search the public records to determine the status of the seller’s title to the property and the existence
of liens
» The calculation and payments of buyer’s and seller’s taxes.
What is a Title Search?
A Title Search, or Title Investigation, involves an examination of the recorded documents on a particular property. The
title search will reveal any existing liens, history of the property, easements and any other details pertinent to the
property. Title insurance costs vary according to the company that provides the service, however they typically run
around .065% of the purchase price.
What is a Condominium?
A Condominium is a legal structure, placed and registered on a property, which has the legal effect of subdividing
into individual private units. These units share common use areas and common property. Private units may be
enjoyed only by the exclusive owners thereof, whereas common areas and common property may be used and
enjoyed by all owners.
Will there be a Condominium Association on the property I am purchasing?
Yes, all condominiums are subject to one or more condominium regimes which will contain all the provisions (bylaws)
that regulate the rights and obligations of the Owners, Occupants and Visitors who have access to the installations of
the Condominium. The observance of the Bylaws is mandatory for all the Owners, Occupants and Visitors of the units.
How is the Condominium Association administrated?
In order to administrate the Condominium, and in accordance with Mexican law, an “Association Civil” (AC) must be
formed. The “AC” is similar to a Homeowners Association in the United States or Canada. The “AC” typically hires a
professional management company to run the day to day operations of the Condominium. In accordance with the
Bylaws, an annual Owners Meeting is held to review the administration of the Condominium and to set operating and
budget parameters for the coming year.
Will I pay a Maintenance Fee?
Yes. The Owners share in the expenses of the Condominium in accordance to their “Percentage Factor”.
Maintenance fees cover such expenses as operation, administration, maintenance and management of the Common
Areas. Each Owner is responsible for payment of their Maintenance Fee in advance on a monthly, quarterly or annual
basis. An itemized list of Maintenance Fee expenditures is usually provided by the “AC” at the annual meeting.
Fiduciario
Trustee (Mexican National Bank)
Garantia Guarantee
Gravamen Lien
Honorarios Fees paid for a service
Impuesto Tax
Inscripcion Act of recorded entry in the Public Record
IVA Value Added Tax
Perito A licensed or specially certified expert in a given field
Poliza A policy (such as an insurance policy)
Predial Property Tax
Prima Premium paid for insurance coverage
Registro Publico Public registry for land records
Zona Restringida The “Restricted Zone”
Key Words
For your convenience I have listed several key words you may encounter in Spanish
Apoderado
Agent through a power of attorney
Avaluo Property Appraisal report
Beneficiario Trust Beneficiary (usually the Buyer)
Bienes Raices Real Estate
Cesion An assignment of rights and obligations
Corredor Broker
Derechos Rights
Ejecucion Foreclosure
Escritura Public Deed
Estudio Topografico Land or plot survey
FIDEICOMISO Trust Agreement
Fideicomisario Trust Beneficiary
Fideicomitente Trustor (usually the Seller)

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Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

New tax laws Mexico

February 11, 2019 by mexicanbeachbum

I read this recently and am sharing now…I don’t have all the legal information but maybe this could be helpful. Seek a legal professional to assist you. (Thank you Jim Ringquist at Sonoran Resorts)

AMLO’s promises for 8% IVA, 20% Income Tax, and doubling the minimum wage:

President Andrés Manuel López Obrador made a promise during his campaign that he would lower the IVA in the border zone to 8%, lower the income tax rate to 20% and double the minimum wage. He should have added a “but” or an “except” to that statement. On December 31, 2018 a disappointing effort was made to complete this campaign promise.

There has been much discussion about this Decree; a lot of people are confused and so a prominent Mexican Tax Attorney studied the Decree, translated it to English and also reviewed the new minimum wages for 2019. Here are his opinions:

DECREE for fiscal incentives in the northern border region.

On December 31, 2018 the President Lopez Obrador (AMLO) published the Decree for fiscal Incentives in the Northern Border Region.

IVA – Value Added Tax

The Decree DOES NOT lower the IVA (Value added tax) to 8%. The Decree offers a “fiscal incentive” to provide a “fiscal credit” for companies that sell tangible products. Those persons or companies can apply during January 2019 for this program with SAT and they can then charge 8% IVA and apply a fiscal credit for the remaining 8%. Stores that are now advertising that the IVA is lowered to 8% are incorrect. The program is not automatic, vendors must apply for it and can opt not to.
The program only applies to persons or companies selling “tangible products” only. It does not apply importations, Real Estate, intangible products, digital content, professional services and internet sales. Persons and companies must have at least 18 months in the region with 90% of their income in the border region.

ISR – Income Tax 20%

To whom does it apply?

Individuals or companies with business activity (actividad empresarial) in the northern border region.
The requirements are at least 18 months in the border region before the Decree was published. It applies to companies with income of 90% in the border zone. Applicants must apply for the program by the end of March 2019 – SAT will respond within 30 days.

Excluded from this program are: Maquiladoras, Financial institutions, Fideicomisos, Real Estate, production cooperatives, intangible products, internet commerce, outsourcings, those with problems with SAT, companies in bankruptcy.

Doubling the Minimum Wage

On December 26, the new minimum wages were published by CONASAMI (Consejo de Representantes de la Comisión Nacional de los Salarios Mínimos) – The Council of Representatives of the National Commission of Minimum wages in the DOF and they took effect January 1, 2019. The Decree divides the country into 2 geographical regions, the northern border zone and everyone else.

In the border zone, the general minimum wage and the minimum wage for 59 professions is set at $176.72 per day in the northern border zone which consists of the following:

BAJA CALIFORNIA – Ensenada, Playas de Rosarito, Mexicali, Tecate and Tijuana;

SONORA – San Luis Río Colorado, Puerto Peñasco, General Plutarco Elías Calles, Caborca, Altar, Sáric, Nogales, Santa Cruz, Cananea, Naco and Agua Prieta;

CHIHUAHUA – Janos, Ascensión, Juárez, Práxedis G. Guerrero, Guadalupe, Coyame del Sotol, Ojinaga and Manuel Benavides;

COAHUILA – Ocampo, Acuña, Zaragoza, Jiménez, Piedras Negras, Nava, Guerrero and Hidalgo; NUEVO LEON – Anahuac;

TAMAULIPAS – Nuevo Laredo, Guerrero, Mier, Miguel Alemán, Camargo, Gustavo Díaz Ordaz, Reynosa, Río Bravo, Valle Hermoso and Matamoros.

How does this effect your employees?

All of your employees must be registered in IMSS (Social Security) with at least $176.72 pesos per day if you are in the northern border zone. The new Minimum wages are different in the rest of the country.

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Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

Mexico Immigration article

February 11, 2019 by mexicanbeachbum

If you plan to live, work, or retire in Mexico, Mexican Immigration Law stipulates that applicants for residency must fulfill certain criteria, including financial criteria. The financial criteria are intended to ensure that people applying for residency have the means to sustain themselves in Mexico. This is updated information based on the changes in 2019.

The financial criteria required to live in Mexico vary depending on:

What type of visa you apply for
Whether you have any assets in Mexico (e.g. own a home here)
Whether you have certain kinds of family ties in Mexico

By way of an example, if you’re a retiree and intend to apply for temporary residency in Mexico, the law stipulates that you need to demonstrate an income per month over the past six months derived from foreign sources (e.g. pension, investments) of at least 300 days’ worth of minimum wage (approximately US$1,620*) or have a savings balance equivalent to at least 5,000 days’ worth of minimum wage (approximately US$27,000*) over the past 12 months. If you intend to apply for permanent residency you will need to demonstrate an income per month over the past six months of at least least 500 days’ worth of minimum wage (approximately US$2,700*) or have savings equivalent amounting to 20,000 days’ worth of minimum wage (approximately US$108,000*) over the past 12 months.

Married couples: If you’re applying for residency as a married couple, to qualify financially you will need to demonstrate income or a savings balance in the amounts above plus an additional 100 days minimum wage (approximately US$540*) for the dependent spouse.

Consulate Applications

Most people who apply for residency need to make their application from outside of Mexico. In a small few situations, it’s possible to exchange a Visitor’s permit for a resident permit in-country, but most people apply through a Mexican Consulate abroad.

Mexican Immigration Law stipulates the minimum income or savings requirements in Mexican pesos; however, Mexican Consulates express the required amounts in the local currency of the country where they are based, and the income or savings they ask to see may or may not reflect the current market exchange rates in relation to the amount required in Mexican pesos. This can cause variations in the specific amounts asked for, and it’s not uncommon for consulates’ requirements to vary from one another.

If your income or savings balance is near the cusp of qualification, we recommend you contact your nearest Mexican Consulate to determine how it’s currently applying the rules regarding financial criteria for residency applications. Every application is dealt with individually and the Consulate retains discretion on acceptance or denial of your residency application on a per-case basis.

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Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443

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It’s time to enjoy

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