Every year more and more U.S. and Canadian Citizens purchase property in Baja California, why you ask? The short answer is the people, the weather, the food and the simpler lifestyle it affords.
Can you as a foreigner own property in Cabo San Lucas?
Have you sat there on the last day of vacation and wondered If you can buy a property in Cabo San Lucas? Have you heard that you can’t actually own the land in the restricted zone of Los Cabos, Mexico? Baja California Sur is a state in Mexico, and as such there is a process for a foreigner to own land or a home here.
There is a lot of misinfomation on this subject but the crux of the matter is yes you can own property in Mexico with all the rights of a Mexican citizen to buy, hold, sell, lease, and more. This is most commonly done by the means of a Fideicomiso or Trust. This trust is quite similar to the trust you may already have in the U.S. or Canada.
As a matter of fact Many Wealthy Mexican families hold their property in a Fideicomiso for the simplicity of transfer of ownership upon their death to their children or other named beneficiary. There is also an option of creating a Mexican Corporation that would hold title to the property however this is used much more infrequently than the trust due to the monthly requirements to file taxes with the Mexican Government.
Mexican law prevents citizens of the U.S. and other foreign countries from owning property within 100 kilometers of Mexico’s borders with other countries. This is the same law that also prevents property and land ownership within 50 kilometers of the natural ocean line. These ocean borders also apply to the Gulf of Mexico.
A Licensed Realtor in Los Cabos can help with the understanding of the intricacies of how best to take title on your Mexico property.
There are many types of properties available in Cabo San Lucas and surrounding areas to purchase. There are luxury condominiums, Beach Front Villas, and Estate homes with a view of the Ocean. These are but a few types of properties available for sale with everything in between.
Who is buying homes in Los Cabos and greater Cabo?
Cabo San Lucas real estate has a broad appeal and many price points in the market. It really does have something for everybody. To own property in Cabo San Lucas is a decision you won’t regret, its a lifestyle that you deserve! Whether you are looking for a beautiful beachfront Villa, A resort that has homes or Condo’s for sale. A Luxury exclusive gated community where the homes start at over 5 million US Dollars, or a condo on the beach. We have access to all this and more, including some off market deals that will excite you.
Los Cabos has a lot of Americans from all over the country but a lot of buyers that own property in Cabo San Lucas are from Texas, California, Washington and Arizona. The ease of a short flight and general appeal of Mexico make this a prime destination for those states. Canada has a lot of snow birds, but also a lot of ex-pats that live full time in Mexico.
Whether this is your first time buying in Mexico, or you have a home to sell and looking to purchase another home in Cabo we are here to help you through the process. At Own In Cabo Real Estate We have a caring, professional team that will look out for your best interests. There is not a better time to own property in Cabo San Lucas than today.
Don’t look back and say i wish we would have bought a home in Cabo, Start the process today and reap the rewards of owning in paradise. Take the plunge and learn what it is like to own property in Cabo San Lucas Today!