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Types of Housing
As mentioned in other sections, there are different types of property ownership: Non-restricted Properties and Restricted Properties, those near the ocean or international border. Within these categories there are many wonderful options. Each different type of property ownership will be explained to you below. If you find you require further information about types of property, do not hesitate to contact us through the “Contact Us” link at the top of the page.
Assisted Living
Just because you’ve already retired doesn’t mean you can’t think about moving to Mexico. If you are worried about your health and need the help of a nurse we can help you find a “assisted living” property where you will have the comfort and ease at knowing that your health will be looked after by people close to you.
Care for the elderly is much less expensive than it is in Canada or the United States and can be had for as little as 1/5 of what you might pay in the United States. Finding a nurse to help is easy and a large range of nurses is available. MexRetire.com’s Premier Service is ideally placed to help you to find a nurse or a home-care provider before you pack your first suitcase. Please Contact Us for assistance.
Retirement Communities
As more and more people from the USA and Canada retire to Mexico you will find that any fears of retiring to Mexico and feeling isolated are quickly dissipating. The locations that we suggest for retirement are often places with large retirement communities. Whether single buildings or beautiful complexes, you will be surrounded by friendly faces and services appropriate to the needs of the community.
Fractional Ownership
One way of fulfilling your retirement dream without purchasing an entire property is partial or fractional ownership. Fractionals are properties of which you buy a fraction instead of the entire property. Similar to time-shares, the key difference with Fractional ownership is that an actual title is issued, and thus you are actually purchasing property. With a time-share, you are merely contractually buying the right to use of a property. Time-shares can be less expensive, but the contracts also end. Fractional ownership can cost more because owners can opt to purchase larger fractions of the overall property. This can be a good option for buyers who don’t wish to settle permanently in Mexico, but who want to come to Mexico once each year for an extended vacation. MexRetire.com has plenty of know-how matching those interested in fractional ownership with fantastic properties all over Mexico.
Non-restricted Properties vs. Restricted Properties
Foreigners may buy property freely in non-restricted areas, that is, in areas that aren’t within 100 kilometers of a border or within 50 kilometers of the coast. For areas within 100 kilometers of a border or within 50 kilometers of a seacoast, foreigners must buy their property through a fideicomiso or bank trust. This does not mean that the title is not secure. Fideicomiso titles are as secure as the title to your American or Canadian home. Though the bank holds the fideicomiso, you own it, and you are the sole beneficiary. Also your property is not considered part of the bank’s assets, so if the bank fails, the title is simply be transferred to another bank with no risk of loss to you. Fideicomisos are valid for up to 50 years, after which time they may be renewed for a further 50 years or the property may be sold. Fideicomiso properties can be leased, sold, given to other family members, or passed on to your heirs. Property ownership and property law applies the same to foreigners from any country when purchasing property.
If you’d like to buy a property that requires purchase through a bank trust, click here for a list of qualified lawyers happy to begin the necessary paperwork and title searches
Builders/Contractors
Like everywhere else, there are many different builders in Mexico. Our experience in Mexico allows us to present to you properties built only by reputable builders.