Buying a house on a budget – Rocky Point edition
Mexico has always been seen as the perfect place for a summer getaway. With its heavenly beaches, Rocky Point is a personal favorite for many people who have visited it. Moreover, Rocky Point is so close to the border that you can drive back and forth on any given day. And, if the safety of Mexico presents a concern to you, you should know that there is nothing to worry about. Contrary to popular belief, a lot of US residents said that they felt safe while living or vacationing in this country. That being said, know that once you step foot in the beautiful coastal city that Rocky Point is, you will forever be lured by it. Whether you are looking for a vacation home or a permanent residence, there is a way of buying a house in Rocky Point without putting yourself in a lot of debt.
Have a budget in place when buying a house
As you might be able to guess, the first thing you need to do is decide how much you can spend. One thing to have in mind is that if you are buying a vacation home, your budget should probably be on the downside. On the other hand, if this is a residence you plan on living in, it is advisable that you give this purchase a lot of thought. You have to think about how much you can spend on a house, but not forget to calculate the cost of your relocation and monthly utilities. After all, buying a home and not being able to afford to live in it is definitely not something you want to do. Get pre-approved
If you are unsure as to how much you can afford for your future home, you should make an appointment at your local bank. See whether you will be pre-approved for a mortgage, and how much money you will be able to get. With a written estimate, buying a house on a budget in Rocky Point will be much easier. Of course, it goes without saying that the only way to have a successful purchase is by sticking to your budget. Don`t get into debts with your friends and family members after seeing the house of your dreams that exceeds your budget.
Create a list of `must haves` and `deal-breakers` when buying a house
Let`s face it, there are certain features all of us find important to see in our future homes. Whether we are talking about a home with a big yard, or one with a nice view, it doesn`t matter. We all have our fair share of features we find essential. Likewise, there are certain things we do not want for our future home to have. Perhaps you want to live in a house with an open-concept kitchen after moving to Rocky Point? Or you want a house with a precise number of rooms? Whatever the situation may be, these are your so-called deal-breakers.
Before you even start your hunt for a perfect house, you need to sit down. Think about it, and make a list of your `must haves` and your `deal-breakers`. This list will help you make a quick decision, as you will not even look at the houses that don`t fit the description.
Work with a licensed real estate agent
In this day and age, there are people who can help you deal with anything. If you are moving to Rocky Point from Miami, you can trust Miami Movers for Less to relocate you safely. If you need to relocate your headquarters, there are plenty of commercial movers that will help you do just that. Likewise, if you are buying a house, you should find a real estate agent. A licensed real estate agent that lives in Rocky Point will know all the details about the housing market. He or she will quickly find what you are looking for, at the price that you can afford.
Cut down on square footage. There is a clear, logical connection between a lower price and less square footage. If you are on a tight budget, the best thing would be to be practical. Perhaps you do not really need that four-bedroom house considering that you are a family of three? Don`t think big, as it won`t do you any good if you are on a limited budget. Instead, look into buying a seaside condo. People that are moving from the USA to Mexico are probably not aware of all of their options. But, in Mexico, you can buy luxurious and spacious condos at an affordable price. This way, you can still lead a grand life, at a price that won`t get you in the red.
Don`t participate in bidding wars
Let`s say you have found the house of your dreams that fits your budget at the same time. How perfect is that? Unfortunately, you are not the only one amazed by it. A few other families have also made their offers, and some of them may even exceed the one you made. What do you do? Well, the worst thing you can do is enter a bidding war. By wanting to end up as a winner, you will offer a price that is way higher than the original one. Chances are you will end up overpaying for a property. We are sure you can see how by being a winner of a bidding war, you will end up as a loser.
Thus, if possible, when buying a house in Rocky Point, try to purchase the one that does not attract so much interest. Just because people are not fighting over a house it does not mean that it is bad. When purchasing a property, being wise and thinking things through is the key to success.
“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 $40,000.
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.
**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.
US Line in Mexico: (602) 539-3124
Mexico Cell: 011-521-638-109-0443
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