A lot people, including big names like Jim Cramer of CNBC's Mad Money and TheStreet.com, are suggesting investing in Mexico real estate. So, this is great – let's invest in Mexico! This is about as useful as being told to invest in stocks to make money. Which stocks? When? How much?
For a real estate investment in Mexico, you also need to know where, when, and how much. Especially, if you are buying on a smaller budget, you will need to find good properties for a good price. Two basic steps can help you with this question. One is to do some on-line research using MLS listings from reliable sites and information about different market areas. The other is to contact an expert.
Some MLS listings provide properties from throughout Mexico. You can start by calculating how much you can invest, and take a look at listings within this range. Browse through, see what's there.
You can also search by area. Take Playa del Carmen real estate, for example. You want to make a small investment, under $100,000 USD. A options you will find:
- around $70,000 – a home on the beachfront, in a small gated community. This home could be rented out to vacationers looking for something a little quieter, away from the main tourist traffic. It's only 10 minutes away from town.
- around $90,000 – lots in an upscale gated community; homes in this area go for around $500,000 USD. It is a full-service marina and golf community, with a mall, church, school and small shop and restaurant area.
- Around $100,000 – a 2 bedroom, 2 bedroom home in a new development, about 10 minutes from the beach. There is a pool, 24 hour security and plenty of green space. A great property and community for renting to vacationers on a budget (a proven constant source of income), your own vacations, or family living.
Of course, your options broaden with a larger budget, with the most options right within the $150,000 - $200,000 range. But there's no need to spend more; you can also explore a variety of areas. You can find more information on the web about areas, how tourism and how the economy is.
After you've explored your price range, however, the best source for information is an expert real estate broker. A qualified, experienced broker will be able to make suggestions for areas and property types according to your needs. Their knowledge of the market will also allow them to advise you if your plans are feasible or not, and provide alternative suggestions.
Start your search today; regardless of your budget, Mexico real estate will an investment suitable for you.