Thinking about buying a home in the Los Cabos area? Good for you! Mexico’s sun, endless sandy beaches and friendly people offer a quality of life that’s hard to beat. With this tips,you can avoid some of the most common traps and pitfalls when considering purchasing property in gorgeous Mexico.
1. Moving too quickly
Take your time when purchasing a property in Mexico. It takes only moments to make an offer on a property, but it can take years to sell if the property turns out not to be right for you. Slow your buying process down by learning all you can about the area in general, the communities within and how you plan to live in your new home and country.
2. Not picking the right Real Estate Agent for you
The right Real Estate Agent will work with you to help assess what you’re really looking for in a home; help you understand current market conditions and trends and locate those homes that suit your needs. When that perfect home has been found, they will work with you to establish an offer and will negotiate on your behalf to get you the best possible price. They will be there throughout the process right to when you get the keys.
3. Not understanding the lifestyle you want to live and what your priorities really are
Take the time to think about and really understand the lifestyle you want to live when your purchasing your Cabo dream home. Knowing what you want to do and how you plan to live here in Cabo makes finding the right property so much easier.
4. Having Unrealistic Expectations
When buying a home in Mexico it is essential to understand the local real estate market and what your budget will buy you in this mostly cash only market. Your Real Estate Agent will work with you to help educate you on what your money will buy in the Cabo market or to re-adjust your priorities to maximize your budget.
5. Failing to understand the laws and your obligations in Mexico
Although you are protected under Mexican law as a foreign buyer, there are differences in the way these matters are handled and it could eventually affect your property or peace of mind. Things like residential and commercial zoning laws, Home Owners Associations (HOAs) and accessibility to name a few should be investigated prior to putting an offer in on that dream home.
Buying a home is a big step and a major investment in anyone’s life! There are many emotions and feelings a buyer experiences. Purchasing a home in a foreign country can be made easier with the correct research, preparation, and professional advice. Just like back home.
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