Where to Invest In Oceanfront
Real Estate in Baja California, Mexico
Last year, more than 18 million people visited Baja California, Mexico, and it seems that the amount could increase slightly this year. Sometimes the hurricane season or Mexico’s problems with violence will detain more than one; however, not just a few millionaires have decided to invest very high amounts of money in this beautiful region. Big real estate gurus have developed a number of very interesting projects on the peninsula. One of the first was Donald Trump, who developed a co-operation with Irongate Development to build a luxury hotel, with 526 suites and a condominium complex in northern Baja California, Mexico at only 30 minutes from Tijuana. Another famous investor, the multimillionaire David Butterfield, financed the project “La Bahia de las Villas de Loreto”, a great plan that will include 18-hole golf courses and 5 thousand acres of natural preserve, a swimming club, a tennis center and a marina. John Fair and Luis Cano, the founders of Paraiso del Mar – a 1700-acre center that includes294 luxury homes, 400 condominiums, a country club, pools, a marina and miles of natural pathways – joined the previous pair. They are al multi-millionaires, with immense projects and perhaps not just a few are under the impression that Baja is excessively expensive for acquiring a property. Actually, that’s not how it is, because a person with a moderate wage or who is retired can buy his own home and enjoy life in various areas of the Baja California, Mexico peninsula. One of the most economical alternative ways is to lease a lot from a Mexican owner and build a house or park a mobile home there. Lease fees vary between 150 and 400 dollars per month, with an annual increase of 2%-4%. The most common is a ten year lease, with a renewal option. Besides being economical, no advance payments are necessary, nor is there excessive paperwork for house loans or mortgage responsibilities. While the Mexican owner possesses a valid deed for the land and if you keep up your monthly payments, you won’t have any other difficulties. The advantages of leasing the land over buying are quite clear, especially when you are living on a low income, including if you pay an entire year’s lease, it will comport much lower expenses than if you were to buy the property. Another advantage would be the potential loss faced would be less if you keep the land for a short period of time and then change your plans and personal situation. The logic is obvious: while less money is invested, the easier it will be o get out of the deal; besides, you won’t have to go through all the stress and worry that always follow a property sale.
A safer option seems to be to lease and then place a trailer or mobile home on the land; since these homes are easily moved, in case a dispute should start, it will be much easier to resolve. One of the biggest worries about investing in real estate in Baja California, Mexico is the high temperatures that many times are accompanied by destructive hurricanes. It would e advisable to avoid the Peninsula during the months of July and August, when the temperature goes above 32° Celsius (about 90°F) with a very high humidity factor that increases the feeling of high temperature. Cyclones are more active between the months of June and November, although they usually pass through after September. Regarding violence, kidnapping, police corruption and murders, then Mexico presents numbers that aren’t very encouraging. As Baja has a border town, Tijuana, that is well-known as the headquarters for important drug cartels, this could create a certain amount of reticence. Even the North American department of State has sent out an alert on the risks of travelling on the Peninsula; although the situation there is chaotic, the more than 18 million people that each year decide to spend part of their vacations or invest in Baja California, Mexico prove that, regardless of the problems, life can also be very pleasant there.
If you want to know more about Baja California, Mexico, check out our Search or contact us for information about property in Baja California, Mexico through our Property Search system; our experts in Baja California, Mexico will be very happy to assist you.