As the world becomes increasingly more crowded and the cost of living rises, the idea a relaxing retirement may seem more like a dream than a realistic goal. However, there are still pockets of beachfront property available in Mexico’s Costa Maya region at a fraction of the cost of property in the US. Today, many retirees and self employed individuals have decided to stretch their dollar in this Caribbean paradise while also making a smart and profitable real estate investment. Here you’ll find a guide for foreign real estate investing in the Costa Maya region of Mexico.
Look for Recently Revitalized Areas
The best real estate deals are often those in places of natural beauty that have recently undergone a massive revitalization or beautification project. There so many areas of pristine coastline around the world often overlooked because they haven’t yet been rejuvenated to meet the tastes of those wishing to retire in tropical luxury.
Areas that have recently undergone government funded revitalization projects often remain off the radar of the real estate investment masses, and are great places to look for serious investment deals.
The Costa Maya project is the newest in a series of revitalization projects initiated by the Mexican government to increase the value of Costa Maya real estate. Previous projects included the rejuvenation of Acapulco and Cancun, both of which have proven extremely profitable in terms of real estate investment.
Seek out Areas with Emotional Appeal
Foreign real estate investments are usually most profitable in areas rich with emotional appeal and natural beauty. As the world becomes a more crowded place, areas of natural beauty that ignite a sense of freedom and peacefulness will continue to diminish.
As cities grow and sprawl, the remaining natural havens continue to increase in value. Costa Maya, a 57 mile strip along the Caribbean Sea, is rich with picturesque tropical natural beauty. Its deep blue skies, crystal clear oceans, and white sandy beaches remain raw and natural sanctuary just south of the tourist driven area of Cancun.
Much of the tropical real estate for sale in the Costa Maya region is just now available for development. New property owners are free to develop homes that compliment the laid back, tranquil, Caribbean lifestyle to further increase the land’s property value. A villa style home, just feet from the gently lapping Caribbean Sea will continue to increase in value as the rest of the world becomes increasingly more stressful and overpopulated.
Government Friendly Property Ownership Laws
Buying property in any foreign country requires a great deal of research and the assistance of an estate agent or local attorney. The laws of some countries are safer and friendlier to foreign buyers than others, and each has its own set of requirements for ownership.
The Mexican government offers property ownership opportunities that are friendly for foreign investors. As an adaptation to a historic law written to prevent Mexico from foreign invasion, investors are required to set up their own Mexican corporation. The property owner’s corporation technically owns the title to the land, protecting it within the laws of the country. Some property agencies have used this law as a lucrative source of revenue, charging buyers additional fees to set up corporations. To avoid this, look for property agents who offer help setting up corporations, trusts, and other legalities at no additional cost.
Governments set their own property use standards such soil regulations, zoning laws, etc. It’s important to look for a reputable property agent that guarantees the property is buildable according to the local and federal government regulations. You should be entitled to either a full refund to have the property brought up to compliance by the agent should your property be deemed not suitable according to government regulations.
Buying a tropical home in a foreign country is a very real opportunity. Those with a sense of adventure and the desire to live out their dreams can easily purchase their dream home in the setting they desire most while making a lucrative investment in their and their families future.
Author is a small business internet marketing consultant and the cofounder of nGenuity Solutions.
To find more information about Caribbean real estate [http://www.transcaribbeantrust.com/listings.html], or to contact a Caribbean real estate agent, please visit http://www.transcaribbeantrust.com.
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