| More than a million Americans own second homes in Mexico, according to the National Association of Realtors. As home prices in the U.S. hit record highs, Mexico has emerged as a solid contender for people who are considering either buying second homes or investing in a vacation home or future retirement properties. The U.S. State Department estimates that there are 385,000 Americans permanently living in Mexico, almost twice the number from a decade ago. Many are buying new waterfront resorts targeted to Americans in popular destinations like Puerto Vallarta, Cancun, Sonora, and the Baja Peninsula. The laid-back lure of Mexico s beaches, forests, deserts, people, fishing, golf, and culture has been capturing visitors and second-home buyers for decades. Buying property in Mexico has become easier as a result of the North American Free Trade Agreement and through the use of this groundbreaking new book. Most living expenses are cheaper in Mexico, making this very appealing to retirees or those able to telecommute. Now is the time for that second home purchase in Mexico, before the prices climb even higher. Recent figures from the National Association of Realtors show an upward trend in the number of second homes purchased for investment purposes. Investing in a second home now will be a great way to increase your net worth when you retire, if done properly. You will learn precisely what to look for in a real estate investment and buying prospects, as well as how to make your current home groundwork for potential real estate investments, how to find the best opportunities, how to set values, how to buy with little or no money down, how to close, how to decide where to purchase, how to choose and hire a realtor, how to use your IRA, how to hire an attorney, and how to calculate monthly payments. You also will become knowledgeable about negotiating, financing, budgets, needs and wants, credit reports, home-buying timelines, the process of building a house, manufactured homes, real estate and mortgage terms, home warranties, homeowners insurance, creative financing, moving plans, walk-throughs, closing and settlement inspections, legal contracts, mortgages, what you can afford, which government agencies can help, the offer, and escrow. This book is a must-have for the investor considering a second home below the border. |
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 Well-Informed Guide for Buying Real Estate in Mexico |
| Review Date: February 24, 2010 |
| Reviewer: A. C. Love, |
Mexican real estate has changed drastically over the past two decades, and in The Complete Guide to Buying a Second Home or Real Estate in Mexico, Jackie Bondanza explains the ins and outs for prospective buyers. With case studies, charts, and an extensive look at every possibility, this book explains what properties foreigners can buy, how many contracts are required, how closing costs may differ from that of the U.S., and even top locations with the best deals.
Curious about the differences between purchasing Ejihad land, restricted zones, or private property? Want to know which properties must be appraised by the government or what measures are being taken to protect land buyers? Bondanza informs, prepares, and cautions potential buyers on what they should know about purchasing real estate internationally.
The book is broken down into several sections, explaining what to expect, starting the search, following through with the purchase, and what to expect while living in a foreign country. This book is an extremely well-researched, easy-to-read guide that is a must have for anyone considering purchasing land in Mexico.
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The New Bible for purchase of Mexican Real Estate
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| Review Date: January 8, 2010 |
| Reviewer: Linda Neil, Mexico |
With millions of baby boomers looking for an affordable and attractive place to retire, Mexico tops the list for most. The rules for acquiring property in Mexico are not quite the same as those for property purchased in the United States and Canada. It is important to understand the differences and never to "assume" that things will work out. This book provides all the basics ACCURATELY! It is written in simple, understandable English with lots of references for those who wish additional information. It tells us all how to do it the right way .........and to do it safely!
I am proud to have been able to contribute to this project. Congratulations, Jackie, on a great job!
Linda Jones Neil, ABE, PIC, Real Estate Broker and Founder of The Settlement Company, Mexico's first escrow and title company.
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Don't You Dare Buy Property in Mexico Without Reading This First!
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| Review Date: January 15, 2010 |
| Reviewer: Janet Clark, USA |
If you're planning to buy property in Mexico, you need to read The Complete Guide to Buying a Second Home or Real Estate in Mexico: Inside Secrets You Need to Know by Jackie Bondanza. The guide provides a clear, detailed overview of what you need to know for this venture. Bondanza goes over everything from Mexico's tax system, how the country's banks and real estate companies operate, the process of establishing residency, how to make moving plans, and whether you should plan to sell the home you currently own, to the cost of heating and cooling your home and the rules of etiquette when you travel south of the border. She offers insight into the different cities and areas open to foreign investors and goes through an extensive list of how to's, like obtaining the deed, doing a title search, determining if the developer has the secured the right to develop the land, and more.
The author makes it plain that, while Mexico is quite open to foreign investors, buyers are responsible to do their research. They need to be aware of the pitfalls, such as condominium developers who don't hold title to the land and real estate agents who encourage you to form a corporation, which you shouldn't do if you're only interested in residential property and don't intend to use it for a business. Bondanza warns that buyers should never deposit funds into any company that claims to be an escrow service unless it has a legitimate U.S. trust account. The guide also offers inside information from top real estate agents, closing agents, and mortgage brokers. Sprinkled throughout the book are case studies of people who have successfully bought property in Mexico.
If the book has a weakness, it's in the fact that with the volatility in the real estate and financial markets, what's true today might not be true tomorrow. But Bondanza provides an extremely solid foundation for understanding the real estate system in Mexico. The majority of the information in The Complete Guide to Buying a Second Home or Real Estate in Mexico will be just as helpful in ten years as it is right now.
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Wonderful step-by-step guide
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| Review Date: February 8, 2010 |
| Reviewer: Julie Souza, |
Buying real estate in your own country can be a confusing, complicated process, but buying real estate in a foreign country may seem almost impossible to even consider. In the Complete Guide to Buying a Second Home or Real Estate in Mexico, author Jackie Bondanza fully outlines the process of buying property in Mexico. She explains everything buyers should know, step-by-step, in a clear, easy to understand format. Starting at the beginning, the author guides potential buyers through each step of the buying process and gives helpful case studies along the way of others who have purchased property in Mexico. Reading the stories of others who have ventured into the Mexico property market is extremely helpful.
In addition to guiding readers through the complicated buying process in Mexico, the author identifies the most popular areas in Mexico for foreign investments. She tells about the history and attractions of each area and lists the pros and cons of living there in simple, easy to read charts. Bondanza guides readers through selecting the perfect piece of property, deciding whether to build or buy, and financing the purchase. This comprehensive guide is a must-have for anyone considering buying property in Mexico
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Complete Guide to Buying a 2nd Home or Real Estate in Mexico
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| Review Date: February 4, 2010 |
| Reviewer: PFoman, Florida |
Whether you're looking to retire in a tropical paradise or make a real estate investment, this book will open your eyes to another option - purchasing a home in Mexico.
This book is much more than a guide filled with technical and legal instructions on buying real estate in a foreign country, although it does an excellent job in detailing everything you need to know while anticipating every question and concern. This book will lead you through the thought process necessary to determine if buying in Mexico is really for you and offers a great deal of sound advice. Sprinkled throughout the text are real life stories of folks who have purchased properties in Mexico along with the reasons why they chose to do so and the success they have found in their new investment or home.
I found the section on what it's like to live in Mexico especially interesting and helpful. The author covers every aspect of Mexican living including what the local culture is like, safety, religion, food, shopping, how to interact with the locals and the average costs of utilities, taxes and medical care. She also explains Mexican immigration including a clear description of the different types of visas needed depending on your residency status.
In a nutshell, this easy to understand guide will hold your hand through every aspect of buying a home in Mexico from the decision of whether to buy, and in which area - to finding the type of property that is right for you - to how to fit into the local culture.
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