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Cabo real estate guide, Your Cabo Home
Cabo real estate guide, Your Cabo Home

Cabo Real Estate Guide

If you’re looking for the best place to live and invest outside of the United States or Canada, you’ve come to the right place. There are so many reasons why Cabo is the best place to live and invest in real estate.  As such, check out the following Cabo Real Estate Guide, which reveals all you need to know about buying and selling real estate and living in Cabo.

Are you a first-time buyer of real estate in Mexico?

If so, please allow me to show you just how easy and safe it really is.  Discover the small hurdles that you’ll encounter.  Then, you’ll see just how simple it is to buy Cabo San Lucas real estate in Mexico.

Cabo offers the good life

Cabo AKA Los Cabos, Mexico is an awe-inspiring region at the southern end of the Baja California peninsula called Land’s End.  There, you’ll find the famous Cabo San Lucas, which boasts the greatest nightlife scene in Cabo.  Then, there’s San Jose del Cabo, the peaceful fishing town that inspires the senses of those who visit.  Finally, nestled in the middle of these two beautiful towns lies the Golden Corridor, stretching between them.

Cabo is famous for many things, but two really stand out above the rest.  First is championship golf.  Cabo hosts some of the best golf courses in the world.  Many of them were designed by the greatest names in golf, like Tiger Woods and Jack Nicklaus, who’s designed five golf courses in Cabo so far.  Next is fishing competitions.  Hosted by Bisbees, these are the biggest fishing competitions in the world, with payouts in the millions of dollars.

Your rights as a buyer in Cabo

As a buyer of Mexican real estate, you hold the same rights as a property owner in the US. As such, you have the right to enjoy, sell, rent, improve, and pass it to your heirs. This ownership is acquired through a “fideicomiso” or bank trust. As the Trustee, you’re the legal property holder in Mexico.

Latest immigration process in Mexico

Prior to buying a home in Mexico, you must have an immigration form.  Recently, the process for filling out that immigration form has changed.  As such, the latest immigration process is to fill it out online.  This isn’t required for the average tourist coming into Mexico, but for those who seek to purchase real estate in Mexico.

What’s important to know is that if you intend on buying a home in Mexico, you need a tourist visa to close on a sale of your home.  Rest assured, most start the process before they get a tourist visa and then get one during the process.  But when you decide on a home to purchase, you will need that visa to present to the notary at closing.

Tourist visas versus resident visas

You may purchase property with only a tourist visa.  But once you buy real estate in Mexico, you are no longer a “tourist.”  As such, it’s important to attain a resident visa.  Owning property means paying property taxes along with other legal obligations in Mexico.

The first resident visa is the temporary residency visa.  Then, the second one is called the permanent resident visa.  The temporary visa must be renewed and you need to have a temporary visa for at least four years before you can get a permanent resident visa.

Temporary resident visas can be one, two, or three-year visas.  Then, they simply get renewed or updated to permanent.  It all depends on your own situation and how long you stay in Mexico.  Also, it allows you to earn income in Mexico.

Buying a home in Cabo

There are just a few requirements to follow when you purchase Cabo real estate.  And, it isn’t complicated.  Your Cabo Home will help you through the entire process.  Therefore, there’s nothing to be concerned about.  Your attention should lie in finding the right Cabo property that fits all your needs and desires.

Mexican bank trust – fideicomiso

Typically, the average cost is about $2000 USD to set up, and about $500 USD per year to maintain.  The cost does NOT vary based on the amount of the purchase of your real estate in Baja Sur.

Within the Mexican Constitution, Article 27 requires that foreigners purchasing residential property in the restricted zone must obtain property rights through a Mexican bank trust, known as a fideicomiso.

This zone is 50km (31 miles) from the coastlines and 100km (62 miles) from the border.   And, this type of bank trust is good for 50 years and is renewable thereafter by you or your heirs.

This is not a lease.  It’s a purchase – real ownership that you can build, modify, sell, and pass down to your family through a will.  As such, you own it indefinitely, according to Mexican law.

There is a “term” of the trust, which is 50 years, and the reason for confusion for many people that use the term “lease.”  But, every 50 years, for a reasonable fee, that term is renewed by the owner…you.

Sell your home successfully with Your Cabo Home

Setting the “stage” for that first impression is called Home Staging. By staging your home, you’ll be transforming the possibilities to broaden the scope of potential buyers and get you top value for your home.

First impressions matter.  Therefore, make your home stand out the instant buyers pull up to the curb. Some upgrades can be done in a weekend and will cost more in sweat equity than actual dollars.

Here are some suggestions: rent a pressure washer to remove dirt and grime from your siding, roof, fascia and gutters. Paint the front door and/or shutters a bright color, but make sure it coordinates well with the rest of the home’s colors. Replace old house numbers, lighting, the mailbox and welcome mat.

Clean up the edging around flowerbeds and lay down fresh mulch. Fill in empty beds with small shrubs, seasonal flowers and greenery. Even if it’s the dead of winter, get a pair of urns or large planters and fill them with small evergreen shrubs and cold-hardy annuals. If you have window boxes, fill them with fresh greenery too. If your porch or stoop has room for furniture, add a couple of chairs to visually expand your outdoor living space.

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