How To Buy Non-Coastal Property In Mexico As A Foreigner (STEP-BY-STEP)
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- Опубликовано: 4 окт 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)
amzn.to/2SKyklt
Rich Dad Poor Dad (#1 selling personal finance book of all time... need I say more?)
amzn.to/2SJ6vtx
Think and Grow Rich (the ultimate book on money mindset and wealth consciousness)
amzn.to/37N2adc
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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"!):
amzn.to/3Ne37jy
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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
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
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
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.
Great info! Here in Playa del Carmen and the Riviera Maya where I work as a buyers agent, every other person you meet is a “real estate agent”, it’s all fun and games until they need to do the actual work; in the state of Quintana Roo you are supposed to have a government issued real estate LICENSE, only around 350 agents are actually licensed in the state, 1 out of every 10 advertising out there! So you are at a 90% chance you’ll get a NON LICENSED real estate agent…
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.
"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!
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!
I loveeeee how thoroughly and detailed you were per usual rose! Thank you 💕
Missed your videos Rose. Welcome back! This was very informative. Thanks for sharing. Can't wait to see your purchased property.
LMAO that F bomb! 😂 I love how genuine Rose is!
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. 🤗 🤗
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…
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.
Welcome to Mexico.. be kind to the people, respect our culture and you should be fine ☺️
Same when someone comes to USA
"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.
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
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 RUclips 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 your looking so tanned! Beautiful as always! Thanks for sharing this video!
Rose, you are officially a Chilanga now 🤙🏻 🇲🇽
Great! I love people talking from experience, hard to find on social media.
Thanks
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??? 😱
I like everything you told us in this video. I guess you might be missing out all the migration related topics. The top priority of home sellers and brokers is to sell you properties… but the Migracion status is something you have to consider.
Hope you enjoy Mexico.
Very good and informative video. Great pace and attitude. Fun to watch.
Rose, you look amazing 🥰I am so happy for you. Thank you for making this video - it surely got me thinking outside the box. I really appreciate your content and look forward to seeing more of it. Much love 🤗
I think wherever people go, people should be respectful of the community and culture. I am glad you are. There some areas of the world where people have flocked to and drove prices up to where locals were priced out. I'm Mexican [first-gen American] and even people gave me a look when I told them I wanted to spend a month or so in CDMX over the summer lol.
My family wants me to buy land in Mexico, and am looking into getting my Mexican citizenship as it would make it easier to buy property. At least, that's what I was told.
The real Americans are the brown people of Mexico, Nicaragua, Venezuela, Bolivia, etc.
Great video, Rose. The very best with your new home! Looking forward to the home tour!
I had been waiting for this video!!!
I never clicked so fast after reading an email alert from you Rose.
Very happy to hear that! Glad it was timely for you :)
Good luck. Thanks for the inspiration and daring to not follow the crowd here in the US and spend your whole nest egg on a house. The prices have gotten bad here. I make pretty good money and I’m still flinching at these prices.
Yes, your being honest. My Father and mother retired in Mexco, they built there house and lived for 10 years. It was beautiful. Yes, i plan to return to mexco , its just getting expensive in california…
I just got my temp visa approved - wish I found this vid sooner but glad I found it now. Lots of helpful info! Thanks!!
You're incredible, Rose! Love your videos!
Buy in the country you live in, Well said Rose, support local businesses. Congratulations! on your new home.
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. ;-)
Thank you not being horribly disorganized. Useful information
Great content Rose. I love the diversity your point of view is specific and relatable.
The median in the states is $428,000. In California that's like a closet LOL the median over here is like $950,000
rents and house prices are getting higher thanks to you guys, now is harder for us that dont earn in dollars to live
Traveling around is great in life. But setting down really good too. Glad u found a great pad in Mexico City. And hey you can always bop out of town for getaway trips. My wife and I bought in Roma Norte. Our fav getaway spot is Todos Santos in Baja Sur. We bought land there through the Ejido. Ooo boy a little tricky, but tremendous deals out there buying from Ejidos.
Love the brutal honesty! That’s what I’m talking about. Haha. Made my night with that
I hope we can see yoor house tour video the soonest. 😍😍😍
Loving the video Rose!! You look amazing by the way!
I've been thinking about CDMX as a permanent place, but the Godzilla style earthquakes have made me think twice.
Looking to finalize a deal in India. Have two bedroom apartments available for 55 to 65 thousand Canadian dollars.
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!
Living in a van down by the river used to be a punchline. Now it's an aspiration.
Que Bueno Rose! Ojala todos tus planes te vanan bien!
I have been interested in buying real estate in Mexico. This video is extremely helpful. Thank you for making it!
You're very welcome!!
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
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.
Incredibly valuable! Thank you Rose! Mil gracias.
You have a good spanish accent Rose kudos to you.
High five 👋 from Yucatan
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
Can you make a video on how you saved for a full cash payment / best tips for saving up for property?
Personally, I think normal people who don’t come from money have to prioritize saving over everything else. This includes not having kids. I have strict budgets for discretionary things like beauty, eating out, and travel. You have to clear around $20k per year after maximizing your retirement match from your employer. I had bought a house in the US that appreciated in value, so that profit along with my savings of 10 yrs is how I got my condo in Tulum
I'm glad to see you're doing this Rose. I'm also planning on doing the same but in South America 😎
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
ROSE! I'm not sure if you noticed but you're GLOWING ! Is it a tan? Looking greatt
I hear Mexico City is amazing place to live! Great video. 👍🏻😃
Very informative video. Thanks for sharing your experiences.
Thank you so much for this information! I’m actually looking for a nice place to buy in Mexico… all tho I’m Mexican but have no family living over there 😢
Great video, this would be a great investment. I’m definitely going to look into it.
Thank you for the step by step process.
Great, congratulations for your new purchase. But the way can you please talk about what are the benefits on taxes leaving in Mexico
Very informative and thorough, thank you.
Great video!!! omg thank you for all the information!
Great information. I love this video. Thanks!!
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.
Good luck Rose!
Hey Rose! Thanks for the great video:)
I also feel a great enthusiasm for Mexico. 🇧🇷
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.
It helps a lot, thx for your video
This is so useful. Thanks for sharing.
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.
Moving to Mexico soon! Best place to retire in Latin America and one of the best in the world.
Love your channel! I want to buy rental property in Mexico as well until I move down in the next few years.
I love your channel and it great to see you back.
Nice video - thanks for the info Rose!
Excellent video, Rose! Thanks for sharing it! A quick question: Have you already dealt with insurance and medical care? Not sure if you have a previous video about it. Thanks!
Great video, very informative. Hope you do a video on furniture buying as well. Thanks, take care.
Those rates are insane!
Please let us know about which neighborhood you bought your apartment and for how much and how big it is. Thanks
You explained it really well.
The tan looks great on you!
What about your *Residency Status?*
What type of Visa are you using?
☀️☀️
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
Great video! Also congratulations to you!!!!!!!!
Thank You So Much, This Is Such Great Information!!!
13:38 and now in mid 2023, the exchange rate is below 1USD:17MX$ that 10 million pesos becomes $590k USD 🐋
thank you so much for this video!!! :D
Too expensive to live in the city..you can get something nice for way less than 150K , with less traffic and beautiful scenery....
Wow Rose good job !
Another good advice Rose ! I'm thinking of moving to Barrio Escobar in Medellin. They said its cheaper and peaceful.
Rose, your tan is settling in 🥰😍
Wow Rose...did you get a nice tan?
And congrats on figuring out where you want to settle down and live! :D
Thank you for sharing your experience in Mexico City. I currently live in San Quintin, Baja California but my family is from there. Enjoy your time in CDMX 🫶 !
WoW Rose! This is so awesome!❤️✝️🤩