Buying Property in Mexico: Evaluating Our Decision Two Years Later

Our original plan when we moved to the Riviera Maya in August of 2015 was to rent for the first year. We wanted to be sure that Mexico was a good fit for us and that this is where we wanted to stay.

Well, we ended up reevaluating that plan only two months into our adventure when the owner of the condo we were renting asked if we wanted to buy it. We had already fallen in love with the condo and the area, but the thought of buying a place made us both pretty nervous.

We started to ask each other “what if” questions like:

What if there’s some place better out there?

What if it’s not a good investment?

What if we choose to return to the U.S. someday? 

Although those were all legitimate concerns, the “what if” question that influenced us the most was this one:

What if we pass on this opportunity and regret it someday?

After some careful consideration, we decided to buy the condo and not risk that last “what if”. We figured that we could always sell the condo later if things didn’t work out.

Evaluating Our Decision

Over two years have passed since we became property owners in Mexico. In all that time, there hasn’t been a single day where we have regretted our decision to buy. We still love where we live and when we’re away on vacation, we can’t wait to get back.

Now that we know how things turned out, I thought it would be fun to answer the three big what-if questions that we struggled with back in 2015:

What if there’s some place better out there? (Answered)

We have traveled quite extensively around this part of Mexico and so far, we haven’t found any other community where we would rather live full time.

What if it’s not a good investment? (Answered)

Since we bought, property values and even rental fees have steadily been increasing in the Riviera Maya.

We originally rented our condo for $850 USD a month but when we recently tried to help a friend find a long-term rental in the same community, we couldn’t find anything for less than $1,250 USD a month.

Even though our condo is not for sale, on two separate occasions people have expressed an interest in buying it and both times, they offered more than we paid for it.

Although no one knows for certain what will happen in the future, for the time being the condo looks like a pretty good investment.

What if we choose to return to the U.S. someday? (Answered)

We don’t have any plans to return to the United States; however, if we should ever change our minds, we feel confident that we could sell our property for a profit.

Let’s Wrap This Up

Mexico has been a great fit for us and we never regret investing in property here. In fact, we’ve even been thinking about buying a second property as an investment in another part of Mexico. This time we’re looking at development planned for construction in San Miguel de Allende.

We’ll let you know how that turns out.

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Special Note: Since publishing this article, we’ve received a few requests asking for more information about our condo complex and/or more information about the new project in San Miguel de Allende.

We don’t want to put those details on the public site but we will respond to individual requests via email. You can send us a request via our contact form.


 

About the Author

Q-Roo Paul
Paul Kurtzweil (Q-Roo Paul) was a deputy sheriff in Florida for 25 years and retired at the rank of lieutenant in 2015. He moved to Mexico with his wife six days later to enjoy a laid-back, Caribbean lifestyle on a tight budget. In 2016, Paul started a blog to share information with other people who may be thinking of making the move to Mexico. The blog, Two Expats Mexico (qroo.us), has been viewed over a million times.

24 Comments on "Buying Property in Mexico: Evaluating Our Decision Two Years Later"

  1. Always so informative. May I ask what area you live in? Beautiful condo!

  2. Hola! My husband and I are here for three months with the intention of finding a place to buy. We have been coming for years and love it but as you said rent just keeps going up and this year we aren’t that happy with the place we rented. So soulution….buy our own place that we know will love. Please PM me the area in Akumal in which you bought or any other areas or suggestions for us. While we are here we hope to get to meet you and your wife. It would be great to have a drink and just celebrate how lucky we all are for finding this beautiful place. We are staying in Playa but love to explore other areas. If you would be available you name the time and place. Have a beautiful day…. how could you have any but that.
    Gary and JoAnn

  3. Paul,
    We currently live in the Lake Chapala area and are considering San Miguel. Would you be comfortable in telling us about the development, in San Miguel, that you are considering? If not, I get it. Thanks.
    Mike Grimm

  4. Thanks for the info LT. 3 years from retirement from Vancouver PD. Headsed to the new Hotel Xcaret on Thursday. Love the Quintana Roo area. If you are in the neighbourhood stop by. Lol. Our goal is 6 months a year on the beach. Cheers. Rick.

    • Hi Rick, those last three years will fly by. If you make it down to the Akumal area while you’re here, send us a message via the contact form and we can try to meet up.

  5. Please share how I might rent in your complex.

  6. Maureen Martinez | January 16, 2018 at 9:19 am | Reply

    Is there a property manager at you Condo that can help us find a place to rent this summer?

  7. We have own a place in Sayulita for 8 years and we love it. We are teachers, rent it in the winter and use it in the summer..

  8. Love your blog! We live in Ajijic (4 years now) and are also considering San Miguel de Allende, so if you wouldn’t mind sharing the project or area you are interested in considering in SMA, we would appreciate it very much! Thank you for all your excellent advice!

  9. I love the area you are in. My big what if is, what if that area is added to the US State dept travel ban after I move there.

    • It’s impossible to know what the future holds but it is very unlikely. The states named in the recent beds have been well-known hotbeds for violence for a long time and they are all very far from here. I’m not saying that this area is crime or violence free — but it is more inline with what you would expect in areas with a similar population in the U.S. To put it in perspective, Cancun has a population similar to that of Baltimore and Detroit.

  10. I love your blog, too. Question if you can answer here. My “what if” is more of a “how do you know?” How do you know when buying a house or condo in Mexico that it isn’t a lemon? I understand there aren’t the same laws or regs as in the US when building or buying property. For example, I believe most states have home builder warranties for certain number of years on new homes. Of course, in the states, you can get a home inspection and then come to agreement with the seller on something that might need to be fixed. Is there anything similar in Mexico when buying property? Thanks for all the wonderful information.

  11. Hey Paul, you always make me smile when I read your blog…we asked ourselves all of those “what if” questions and a few more when we moved to Mexico. The one that continues to make me ponder the decision to buy a house — is the real estate really a good investment. I found the Mexican real estate market to be a real “wild west show”; no MLS listings, unregulated, comparable’s are vague, and there is an army of unlicensed real estate sales people attempting to make a buck. So my big “what if” questions was –are we paying what the property is worth? This brought me to the notion that value is really based on the “Hooker and John” concept (it’s 2017, I figured political correctness is gone so I could make this analogy). Property value is based on two things –Need and Want. We needed a place to live and wanted it, and we were willing to pay what it took to complete the transaction. This is not to say there isn’t some investment opportunities in Mexico, I think they still exist. But, like the aforementioned business transaction, the likelihood is someone is going to get screwed.

  12. All these blogs! How do you find time for the beach?

  13. Appears you use WordPress for your blog. Do you recommend it? Is it difficult to learn? Trying to start a blog/vlog here in Dallas. Using Weebly right now. It’s ok.

    • I tried Weebly for a short time but I really prefer WordPress. It’s super easy to customize and there are lots of plug-ins available for it.

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