The Complete Guide To Buying A Second Home Or Real Estate In Mexico

As home prices in the U.S. hit record highs, Mexico has emerged as a solid contender for people who are considering either buying second homes or investing in a holiday home or future retirement properties. The U.S. State Department estimates that there are 385,000 Americans permanently liv-ing in Mexico. This book details precisely what to look for in real estate investments and buy-ing prospects, as well as how to find the best opportunities, buy with little or no money down, decide where to purchase, and how to choose and hire a realtor. You also will become knowledgeable about negotiating and financing, budgets, home-buying timelines, the process of building a house, homeowners' insur-ance, creative financing, closing and settlement inspections, legal contracts, what you can afford, and which government agencies can help. This book is a must-have for the investor considering a second home below the border.

More than a million Americans own second homes in Mexico, according to the National Association of Realtors. As home prices in the U.S. hit record highs, Mexico has emerged as a solid contender for people who are considering either buying second homes.

After nearly a decade of work in Mexico insuring real estate properties to foreign purchasers, the same issues always seem to surface regarding second home acquisitions: "If I buy a house in Mexico, don't I get a 99-year lease from the government?" "I understand that I can buy a residence in Mexico only if the title is vested in a Mexican corporation." "I didn't think Americans could own Mexican beachfront properties." All of these suppositions are incorrect. This book attempts to help clarify and explain why Mexican real estate, when using the proper safeguards, can be a terrific, secure investment. It will also explore the purchasing mistakes of the past, summarize several of the attractive new locations that are luring foreign dollars and explain why Mexico is so eager to welcome second home buyers from outside its borders. The worst thing a potential purchaser can do is to remain ignorant of the law and procedures involved in the conveyance of real estate in a foreign country. As we state several times in this book, Mexico is not the perceived "Wild West" where anything goes and the prevailing Mexican attitude is "trust me, no problema." It is inherently important for non-Mexican buyers to understand that Mexico has formality of law with authorized regulation of real estate development procedures at all levels. This process is coupled with a statutory government framework for the legal conveyance of real property. Great personal wealth has been attained through real estate ownership, but for most of us, it has been limited to investment in a primary residence. Although Mexican real estate also can be a viable investment venue, Americans have had a great deal more trepidation considering properties "south of the border." And for good reason--considering the history of some acquisitions. Given today's investment climate, however, Mexico provides an attractive, alternative arena for potential investment. Real estate in Mexico should have a similar appreciation "upside" as does real estate in a U.S. development--coupled with the advantage of use and enjoyment of the property as a vacation residence.

A guide to Mexico's civil law system helps foreigners learn the property buying process. A bonus section provides tips on how to choose a real estate agent plus practical matters such as utilities, fees, and insurance.

Prime vacation property throughout Canada has doubled in value within the past five years. For the potential buyer of a vacation property, the cost of entry can be stiff. There is a high demand for many to own a vacation home or idyllic retreat for pleasure and lifestyle enjoyment, future retirement, rental revenue, or investment profit. But buying a recreational property can be a potential minefield for many reasons, as there can be complex tax, legal, estate planning, and investment issues to consider. When investing hundreds of thousands of dollars in a recreational property you will need to do your due diligence and seek solid advice. The Complete Guide to Buying and Owning Recreational Property in Canada, written by Canada's leading authority on matters related to real estate, offers valuable insights and tips, and will prove a trustworthy resource for many years to come. Topic areas include: Buying the right property, for the right reasons, in the right location How to set a purchase and financing strategy and how to negotiate your best deal How to exercise caution when buying with family or friends-and how to keep peace in the family when sharing use or ownership Getting the help of professionals, such as a tax accountant, lawyer, home inspector, mortgage broker, insurance broker, and realtor. Obtaining tax and estate planning strategic advice to save tax on transfer, sale or bequeathing of the property, or inheriting a property What you need to know if you are buying recreational property as an investment. Money saving tips when renting your property yourself or using professional rental management Special cautions if buying a vacation home or cottage outside of Canada Creative ways of using your vacation home or cottage for exchange or barter Key strategies to follow and classic pitfalls to avoid And much, much more! Plus Sources of Further Information, Key Websites, Checklists, Glossary, and Index.

In this latest addition to the bestselling "Century 21" series, Ruth Rejnis explores all the important nuances of a midlife home (or second home) purchase. She helps potential buyers organize their objectives and learn about the variety of options open to them. The book features 50 money-saving tips, strategies for working with an agent, and Internet resources.

According to a recent study released by the National Association of Realtors, second homes accounted for more than a third of residential real estate transactions. There is no better time than now to buy that second home youâe(tm)ve been thinking about for getaways, vacations, investment, or retirement. Low interest rates, tax savings, rising appreciation, and effortless financing make it simple to profit from a second home. Now is the time for that second home, before the prices climb even higher. Recent figures from the National Association of Realtors show an upward trend in the number of second homes purchased for investment purposes. Investing in a second home now will be a great way to increase your net worth when you retire, if done properly. This book explains how to invest profitably in a vacation or future retirement home. Your second home can be for living, to re-sell, or even rent. This comprehensive guide presents proven tactics to make your second home a smooth and profitable transaction. You will learn precisely what to look for in a real estate investment, buying prospects, how to rent the place for up to 14 days and pocket the income tax-free, and how to make your current home groundwork for potential real estate investments, how to find the best opportunities, negotiating, financing, budgets, needs and wants, credit reports, home-buying timeline, the process of building a house, manufactured homes, real estate and mortgage glossaries, setting values, home warranties, homeowners insurance, creative financing, buying with little or no money down, closing, moving plans, walk-throughs, closing and settlement inspections, legal contracts, mortgages, what you can afford, deciding which neighborhood to choose, hiring a realtor, which government agencies can help, considerations for veterans, IRA use, hiring an attorney, the offer, calculating monthly payments, and escrow. This book is a must-have for the investor considering a second home. Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company presidentâe(tm)s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice. Every book has resources, contact information, and web sites of the products or companies discussed.