Yucatan Real Estate

Many people travel to the Yucatán, become enchanted, and decide to buy a vacation home, a retirement home or a new home for retirement home or a new home for relocation. Not only is this area full of wonder, surprises, activities, culture and history, it is also a land of reasonably priced real estate, experienced artisans and inexpensive building materials. As more and more expatriates move to Mérida, buying and renovating homes threatens to become the most popular expatriate pastime!

Interesting reading: http://www.marketwatch.com/story/merida-real-estate-markets-top-10-trend...

If you are interested in buying on the Yucatán Peninsula, there is much to choose from. Perhaps you would like a reasonably priced beach home somewhere along the Gulf Coast or a more expensive one on the Caribbean. Maybe you would like a historic colonial home in Mérida or a hacienda in the surrounding jungle? Or you might be looking for a modern home in a golf course community like La Ceiba, just a few minutes north of Mérida on the road to Progreso. You also might just want to buy land now and plan to build on it later. Prices have been rising steadily over the last few years so if you are thinking of buying here, sooner is probably better than later.

When looking for a home, after considering your budget, the first question is where to buy? The second question is usually how much do I want to renovate? Throughout the Yucatán Peninsula, but especially in Mérida, there are magnificent old houses and haciendas in various states of disrepair, priced reasonably and begging to be restored. These buildings often have "good bones" (good basic structure) and additional architectural treasures such as beamed ceilings and tiled floors. Many of them have been neglected for years and can be restored to previously unimagined magnificence with very little money.

There are also houses already restored that will cost a little bit more, but will save you the time and costs of renovating. These houses are naturally more expensive, but buying a renovated house saves you the time and costs, both financial and psychological, of doing the renovation yourself. Many of the renovations have created some truly spectacular homes, with the traditional tile floors and high ceilings of the Mérida colonial home, at prices that are extremely reasonable compared to what similar homes would cost in the U.S., Canada, or most places in Europe. Local limestone, locally made "pasta" tile and locally harvested wood is also available here. All this combines to make it easy to create a lovely home limited much less by your pocketbook and much more by your imagination! Real estate agents and current residents are probably the best sources to recommend good local contractors. These contractors are dependable and bring along excellent painters, masons, and other artisans who are often hard to find in North America.

For more information on Yucatán real estate, visit our other pages about beach homes and colonial homes.

HOW TO BUY A PROPERTY IN YUCATÁN

Finding, buying, building, restoring and living in a home in the Yucatán is easier than you might think. However, if you are new to buying in Mexico, you will find many differences in the purchasing process from what you are used to in the US, Canada, or elsewhere. Currently, in Yucatán, there is no MLS, no real estate licensing requirements for agents, no governmental over-sight, limited institutional financing and few large organized real estate companies or real estate professional organizations, like the NAR (National Association of Realtors) in the USA.

However, there are several realtors in Yucatán who are trying to change that. They are working on the guidelines for a voluntary association of a cooperating group of real estate agencies in Yucatán who would work together under guidelines and rules of transparency, honesty and integrity. Although this would not be a government-supervised association, most of the members have been involved in formal associations in the US and Canada, and they would design a system of mutual oversight. As soon as they have finalized the details, we will add more information here.

If you listen to the stories about expats’ good and bad buying experiences in Yucatán, you will find that there are occasionally "scam artists" who are not what they appear to be. However, in the majority of cases, Yucatán realtors work very hard to find the perfect house for their clients. They are known to spend many hours not only showing you houses to view, but going above and beyond the call of duty and helping you with many after-sale details. Many lasting friendships are made between Yucatán realtors and their clients.

As a buyer, you have three options:

1. USE A REALTOR’S SERVICES: There are many bilingual real estate agents here who are familiar with both North American real estate practices and also the vagaries of buying and selling in Mexico. These agents have a wide range of offerings and will assist the buyer in choosing the right home as well as in negotiating the twists and turns of Mexican real estate documents. They can assist you in locating any lawyers, accountants and banks you might need for completing the process. If you are clear about your needs, they can save you many hours of wasted time by setting up appointments for you. Some will show you around at no charge; others may charge you an hourly fee which is refundable when you purchase. Generally speaking, realtors earn 6% of the selling price. Be sure to get references on the realtor (and lawyer/notary) you will be dealing with. And be sure to only pay the down payment or balance in escrow to your notario publico, not directly to your realtor. A legitimate realtor will not ask you to give him or her money directly, nor will they pressure you to buy. For real estate services, you may contact any of the firms listed at the end of this article.

2. USE A "FOR SALE BY OWNER" SERVICE WHICH BRINGS BUYERS AND SELLERS TOGETHER WITHOUT A REALTOR: There are three commission-free “For Sale By Owner” websites ( casayucatan.com.mx and yucatandirect.com and yucatandealdirect.com ) devoted to bringing Yucatán buyers and sellers together directly, for a small website listing fee paid by the seller. This means the seller is not paying commission to a realtor, which may save you, the buyer, money. By dealing directly with the seller, the buyer has no risk of running into a dishonest realtor. Through these services, sellers can pay one low listing fee, have their property advertised online and throughout multiple media markets. These websites also provide names of lawyers, accountants, and other services the buyer may need in order to complete the transaction.

3. GO IT ALONE: If you speak Spanish and have a map and a cell phone, you can check the newspaper classifieds and drive around the areas you are interested in, looking for “SE VENDE /TRATO DIRECTO” signs (which means the seller is not using a realtor), and make the phone calls and set up the appointments yourself, directly with the sellers. Once you find a house to buy and agree on a price, you and the seller finish the transaction in the office of your notario público. This process can be time consuming and cumbersome at best.

For help getting price quotes on moving to Yucatán, click here.

For a short video on the benefits of being in Yucatán, watch the 2 videos below, from our friends at intheyucatan.com:

 
Real Estate:

Casa Yucatan Real Estate and Construction
Arq. Gabriela Cornelio
Tel: +52 (999) 926 7705
Cel: (999) 127 5224
www.casayucatanrealestate.com

www.gcornelio.com

Cristina Gasque
Cel. 999-264-3777

Hacienda Mexico
Keith Heitke
Phone: +52 (999) 928 1116
www.haciendamexico.com

.
Merida Homes
Joel R. de Leon
Tel. 928 90 09
Cel. 9991 29 38 15
www.meridahomes.com

Mexico International Real Estate
Phone: +52 (999) 920-6856
WEBSITE:  www.mexintl.com
6-MINUTE VIDEO:  http://www.youtube.com/watch?v=jhq5X-ddcqQ

The Peninsula
Tel. +52 (999) 947-1958
www.thepeninsula.mx

ReMax Dynamic
Phone +52 (999) 948-1077
remaxdynamic.mx

Yucatan Haciendas
Phone: +52 (999) 286-2701
www.yucatanhaciendas.net

Yucatan Properties
Jorge Semerena
[email protected]
www.yucatanproperties.com     

Building Firms:

Casa Yucatan Real Estate and Construction
Arq. Gabriela Cornelio
Tel: +52 (999) 926 7705
Cel: (999) 127 5224
www.casayucatanrealestate.com
www.gcornelio.com

Worldstudio International, Inc.
Calle 68 No. 517 por Calle 65 y Calle 67
Colonia Centro, Mérida, Yucatán 97000
Tel: (999) 928 1116
www.worldstudiointernational.com

Yucatan Construction
(Specializes in Beach Projects)
Zavala Architects & Associates
Tel: (999) 926 0204
Cel: (999) 200 4166
www.yucatanconstruction.com

Property Management:

Gone South Property Management   
[email protected]
www.gonesouth.net

Kab Yucatan
Susan Stewart
Cell: (999) 249 9313
www.kab-yucatan.com

Merida Rentals Property Management
Calle 58A No. 476 x 25 y 25A, Dept. 3, Col. Itzimná (Beside VW Itzimná)
[email protected]
Tel. 999 926 3926
Cel. 9992 23 25 36

Remixto
Vacation Rentals and Property Management
Tel. 999 923 8159
remixto.com 

Recommended reading:

- Real Estate - Colonial Homes
- Real Estate - Beach Homes
- Buying Property in the Yucatan Peninsula
- Building and Remodeling
- Vacation Rentals in the Yucatan
- Furnishing Your Yucatan Home
- Beach house for sale in Telchac Puerto

01.

Just the article I needed to

Just the article I needed to start my research on purchasing in Mexico.

02.

yucatan beach homes

consider buying a home on the beach. they are still very affordable. property taxes around 300 usd

03.

Great Resource for Buying Property in Mexico

I agree that buying real estate in the Yucatán (and everywhere in Mexico) is easy and safe. I also agree with you that there are many differences in the laws and processes from what we are used to up north. In my experience, it is a must to educate yourself about the Mexican real estate process and laws BEFORE you make any costly mistakes.

One resource I have found to be invaluable is a book by Garry Musgrave called the Practical Guide to Buying Property in Mexico. It has detailed information on everything you need to know, but is written in a really easy to understand way.

I picked up my copy on Amazon, and I've since found the web site for the book: http://buyingmexicanproperty.com/

I hope this helps others as much as it helped me!

04.

Purchased home in Progreso

Recently I hired 2 attornies Jesus Martin Azueta Sauri (Progreso) & Lorena Novelo - litigator(Merida). I paid them $20,000 pesos each (total $40,000)& $50,000 for documents. They put the house I purchased for $1,470,000 pesos in Jesus'name. Will not give me detail expenses...
Had to hire another attorney to present document signing over my house to a trusted MXN friend, if he didn't sign he would have been arrested. Jesus has 60 days...to respond. Currently waiting for the outcome...

05.

to buy a housde for retirment

Do you have Amerian Realtors/ Would prefer one.

We are looking to move around the first of the year, probably around March 2013.

Thank you

Mrs. M. Filos

06.

prices

we are looking for a rice between $200,000 to 250,000

Thank you

Mrs. M. Filos

07.

re. buy a house/prices

You can contact Keith Heitke

[email protected]

He has houses in all price ranges.

And if you are looking for a beach house, you could consider mine: http://yucatantoday.com/en/topics/beach-house-sale-telchac-puerto

08.

2 story house in Progreso

Currently I'm in the states, will be leaving for Progreso, Yucatan on Oct 6.My home is a 2012 new construction, 4 bedrooms, 3-1/2 bath, 1st floor is a large open kitchen/great room with an inside small garden overlooking a future pool, 1 bdrm w/bathrm/shower, separate dining rm overlooking the courtyard, security privacy doors have been installed in the front & side back of house which has rm for a small vehicle.2nd floor has 3 bdrms 2 of which have their own bathrm/shower.All bdrms are very large w/closets, master bathrm has large closet.2 bdrms in front have balconies. Lots of windows all screened, lots of natural light throughout. Installed ceiling fans, open installation for A/C, all rms throughout have cable/phone accessability.At this time I'm not sure I want to sell, I've done alot of work finishing the house(enclosed side wall, security doors, windows & doors-protectors, screens, ceiling fans, closets,etc.Convenient bus service in front coming from center of town 10mns.Also, planning on installing electrical protection above walls & sec. doors.
If you would like to keep in touch on my future decision...please contact me: I'm northern Italian = Gianna Chicco [email protected] (e-mail).Thank you for your interest.

09.

House you might like

We are selling a house across from the Merida English Library on Calle 53 x 66 & 68. It's new on the market (sign went up yesterday), beautiful, & in your price range. Since we are in such a great location, we have chosen not to use an agency. I just happened to read your post. For a lot more info & photos, you can go to: meridacalle53.com

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Welcome to Yucatan Today
Yucatan Today is the leading tourist guide of Merida, Mexico and the Yucatan Peninsula and was recently voted the best tourism website in all of Mexico! In our companion monthly magazine, we bring you the information you need to enjoy your experience while you are here. Read more