$79,000 USD for 4,090 sq ft home.. $280 per year health insurance premium..full coverage

[SoCalDem]

I SO want this house..

http://homes.point2.com/MX/Yucatan/Jardines-Miraflores/2210691-Real-Estate.aspx

the other night on The Daily Show, they did a bit about ex-pat retirees in Mexico.. It's starting to sound pretty inviting..

and if we did this, once we croaked, our sons would have a nice vacation home in Merida to share :)

[WhiteTara]

1. I loved Merida

it's a really lovely city and they make the greatest "panama" hats there...very inexpensive. If I remember it has a great mercado...but the humidity factor is about 150%

[Warpy]

2. Well, the one you're looking at is right over the border

east of Tijuana. You can get deals on the border because of all the violence right now.

Merida is considerably more expensive. You can still buy ruins for under $100K, but then you have to renovate them to make the livable, meaning you've got 4 walls, sort of, no roof, no plumbing, no electricity and pretty much have to start from there. The areas are often a little iffy, since the best parts of town have mostly been renovated.

$200K will get you into something done to US standards in one of the better areas. It takes about $300K to get you into something done to US standards in the best areas.

I've been looking into it for a couple of years and still might get a winter place down there if my health holds up this winter.

[SoCalDem]

3. Jardines Miraflores (Merida, Yucatan, MX)

not Tijuana:)

http://homes.point2.com/MX/Yucatan/Jardines-Miraflores/2210691-Real-Estate.aspx

[Warpy]

5. Funny, when I clicked on "find by map"

it led me to a listing that price near Tecate.

If you're going for a place where you have to drive to everything, consider the area around Progresso. You can still get oceanfront property there that's reasonably modern for a song.

[SoCalDem]

6. Oceanfront is not that much of a biggie for us.. especialy in Hurricane alley

:)

This looks to be in an older part of Merida..

found this nice site telling about the neighborhoods:)
http://www.yucatanliving.com/destinations/the-neighborhoods-of-merida.htm

[Warpy]

7. Progresso's north of Merida

Most hurricanes that hit the Yucatan head on hit the east coast tourist areas. The north coast is the more sensible area and that's where the Mexicans have their vacation homes.

[Vinca]

4. Now that it's getting cold in New Hampshire, that looks pretty inviting.

We do love Mexican food . . .

[Warpy]

8. Yeah, it's cold in the high desert in NM, too

and is supposed to be in the 30s, maximum, over the next couple of days.

I am spoiled, though, by low humidity and no bugs.

I'm not sure I could handle Merida in the summer, even with air conditioners thundering away 24/7

[SoCalDem]

9. I grew up in Panama..no A/C , so humidity's not too much of a problem

although I have gotten "soft" in my old age.. but tropical people know how to situate property to take advantage of the breezes, and with no house payment and taxes of $100 a year..yes that's right $100 a year, I guess we could spring for some AC when it got too hot :)

It's all a pipe dream anyway.. I'd have to put a bomb under my husband to get him to part with his garage FULL of tools..

but I think we may drive down next year & have a look-see..maybe buy a smaller place as a vacation spot..

If I was a widow, I'd be packing the car NOW :)

[Ishoutandscream2]

10. I've been researching Ecuador

Ex-pats are hitting there as well. Great weather, low cost of living, beautiful mountains, ocean, and forests. Now, to get my wife to agree on going with me...

[SoCalDem]

11. For us, it's the pet thing.. I could never abandon them (or give them away)

and many places are kind of "hinky" about pets coming with ex-pats..and I can understand that..not everyone will keep their pets indoors, and there is native wildlife to worry about..

[Ishoutandscream2]

12. I read that Ecuador is pretty liberal on their pet policy

I was thinking the same thing, but it looks like you can get them in there with relative ease. And you can find a small city to live in. I don't think it would be too much of a problem.

[SoCalDem]

13. It's the "getting" them there that presents a problem for us

we have "too many":(..but which would we part with? Hell, they might outlive US :rofl:

[Ishoutandscream2]

15. I know, LOL, us too

I can just see us trying to get our big black baby lab Annabelle (she's two now, but she will always be a big ol' baby) down there. That in itself would be a real hoot!

[SoCalDem]

16. We have a HUGE cat.. we won't even fit in the carrier

and most of our kitties are under 7 yrs old, so they actually MIGHT outlive us :scared:

[snooper2]

14. You will never be able to directly "own" that property...

or your sons...but you can have a Mexican bank own it for you :)

From what I gather from some older friends of mine it's a hell'a nightmare to go through the process....


CAN FOREIGNERS REALLY OWN PROPERTY IN MEXICO?
Yes, Americans and other foreigners may obtain direct ownership of property in the interior of Mexico. However, under Mexican law, foreigners cannot own property outright within the restricted zone. Instead, a real estate trust must be set up to hold title for the foreigner. Since foreigners are not able to enter into contracts in buy real estate, they must have a bank act on their behalf, much as a trust is use to hold property for minors because they also can not contract. The following is a brief outline of the law regarding such trust, known as "fideicomisos", but potential buyers should always get advice and have all real estate transactions overview by a licensed Mexican attorney.


THE RESTRICTED ZONE AND "FIDEICOMISOS"
The law declares that the Mexican nation has original ownership to all land and water in Mexico, as well as minerals, salts, ore deposits, natural gas and oil; but that such ownership may be assigned to individuals.

The Mexican Constitution prohibits direct ownership of real estate by foreigners in what has come to be known as the "restricted zone." The restricted zone encompasses all land located within 100 kilometers (about 62 miles) of any Mexican border, and within 50 kilometers (about 31 miles) of any Mexican coastline. However, in order to permit foreign investment in these areas, the Mexican government created the "fideicomiso," (FEE-DAY-E-CO-ME-SO) which is, roughly translated, a real estate trust. Essentially, this type of trust is similar to trusts set up in the United States, but a Mexican bank must be designated as the trustee and, as such, has title to the property and is the owner of record. The Mexican Government created the "fideicomiso" to reconcile the problems involved in developing the restricted zone and to attract foreign capital. This enabled foreigners, as beneficiaries of the trusts, to enjoy unrestricted use of land located in the restricted zone without violating the law.

A "fideicomiso" is a trust agreement created for the benefit of a foreign buyer, executed between a Mexican bank and the seller of property in the restricted zone. Foreign buyers cannot own real estate in the restricted zone due to Constitutional restrictions. The bank acts on behalf of the foreign buyer, taking title to real property. The bank, as trustee, buys the property for the foreigner, then has a fiduciary obligation to follow instructions given by the foreigner who is the trust beneficiary. The trust beneficiary retains and enjoys all the rights of ownership while the bank holds title to the property. The foreigner is entitled to use, enjoy, and even sell the property that is held in trust at its market value to any eligible buyer.



http://www.mexonline.com/propmex.htm

[HuckleB]

17. But who needs that much space?

Cut it in half, and save some cash for a few trips down to Costa Rica.