7 Benefits of Owning a Condo in Mexico

Condos are a relatively new type of property ownership in Mexico, but they’re becoming more popular with each passing year. Some people confuse condos with apartments, but they actually serve very different functions. Condos are owned and developed by private companies; apartments, on the other hand, are usually rented out directly to the occupants. On top of that, condo owners have much greater access to the services and amenities provided by these companies than do renters. As you can imagine, this makes condos a far better deal for those who own them—and that’s reflected in their price tags.

Let’s dig into how owning a condo comes about and what are some of the benefits of owning one in Mexico.

1. More Affordable.

When you own a condo in Mexico, you don’t have to worry about property taxes. For starters, there is an initial tax called “Property Acquisition Tax of Foreigners” that is charged at the time of purchase. However, this tax only amounts to 3% of the total value. Once you’ve purchased your condo, all you need to pay annually is $500 in order to maintain ownership.

This is significantly less than what you would spend on property taxes in most other countries around the world today—especially in the United States!

Owning a vacation home or retirement condo can be an excellent way to do just that—and when you opt for a Mexican condo over something in another country like Costa Rica or Belize, you won’t just save money on taxes: your maintenance fees will also be significantly lower than what they would have been elsewhere! This means that if any repairs need done while living abroad (whether it’s fixing pipes after leaks or replacing furniture) then there’s less cost associated with those fixes because everything else has already been taken care off by someone else!

2. Flexibility.

As a condo owner, you have the flexibility to either live in your apartment, rent it out or put it on a vacation rental program. Renting out your property can be done for different time periods such as weekends, weekly, monthly or yearly.

You also have the flexibility to determine how often you want to rent out your unit. You might decide that you want to use it yourself most of the year and then only rent it during peak seasons when prices are at their highest.

3. Access to 5-star Resorts and Services.

As a new homeowner, you will be able to take advantage of the luxurious amenities offered by the nearby resorts and hotels in the area. With your home away from home situated in this picturesque paradise, there are plenty of adventures to embark on at a few minutes notice!

A marina is just a short walk away with rentals available for sailing, diving trips, fishing charters and more.
There are many golf courses within an hour’s drive of Playa del Carmen, including the award-winning Grand Coral Riviera Maya Golf Course.
The renowned Spa at Grand Velas offers services such as steam baths and massages with private showers overlooking the ocean.
After a well-deserved day of pampering, enjoy dinner at one of over 100 restaurants in Playa del Carmen while watching the sunset over calm Caribbean waters.

4. Quality of Life.

As the number of expats in Mexico continues to rise, it’s important that you know what to expect from your new community. In particular, expats should know about the benefits and limitations associated with owning a condo or apartment in Mexico.

Benefits of owning a condo or apartment in Mexico

A condo or apartment will be an investment for your future. After all, as a foreigner living in Mexico, you are protected by Mexican law. And although real estate prices tend not to decline as quickly as stocks or bonds do, they certainly can’t increase indefinitely; if you want to take advantage of the benefits of owning a home while it’s still available at a low price, make sure you plan ahead!
Condo ownership is more flexible than other forms of homeownership. As long as your property is paid off and remains secure and undamaged, you can use it as often as needed.
If you live abroad but would like some flexibility when it comes to renting your property out on a short notice basis (for example), this is another reason why investing in real estate makes sense: you won’t have any trouble finding renters who will be interested in occupying your property for shorter periods of time, especially if you are flexible with rental terms (monthly payments preferred over weekly).

5. Get Luxury on a Budget.

Another reason to purchase a condo in Mexico is the ability to get more luxury on your budget.

When people think of luxury, they typically think of it costing a lot of money, and while that assumption is sometimes true, it doesn’t always have to be. This is particularly true if you’re buying a condo in Mexico. You can likely afford much more than you thought.

For example, let’s say you’re looking at condos in Florida and California. You’re probably going to have to pay top dollar for all the little luxuries like fitness centers and pools because everyone else wants them too. But this isn’t the case in Mexico, and thus you can get many things that would otherwise be considered luxuries on a standard budget.

Another thing that makes this possible is that there are hundreds of miles of coastline to choose from along with communities both large and small so there’s plenty of inventory available without having to worry about demand driving up prices.

6. Climate Advantage.

When you own property in Mexico, you get to enjoy the benefits of an amazing tropical climate. The climate is hot and humid at low altitudes. At higher altitudes, there are cooler climates.

While most people think of Mexico as a desert, it’s actually located on the Tropic of Cancer. This means that it has a warm climate all year round, but it doesn’t mean that Mexico is just one big desert. There are rainforests in Chiapas and even snow-capped volcanoes at high elevations!

In Riviera Maya, where many luxury condos are available for purchase, the weather is warm all year round and ranges from 74°F to 95°F (23°C – 35°C).

7. Better Infrastructure and Transportation.

Considering transportation options in Riviera Maya, you won’t have to worry about traveling around the region and beyond. If you want to visit other states in Mexico or even travel to the US for a short time, it is easy to travel by ferry from Puerto Morelos, Playa del Carmen, or Cozumel.

If you don’t want to take a ferry or fly out of Cancun International Airport (which will be just a 20-minute drive from Riviera Maya), there are several bus routes that run daily. The infrastructure for transportation has also improved as new highways have been built and others expanded so you can travel by car easier than ever before!

The infrastructure of transportation isn’t the only part of Riviera Maya that continues to improve; in 2020 the construction of the Mayan Train began. This new form of public transit will connect all five Yucatán Peninsula states with train stations located all over each state including Tulum and Playa del Carmen.

Summary: Owning a condo in Mexico is affordable, gives you access to recreational activities, quality of life, luxury on a budget and more!

In summary, owning a condo in Mexico means you will have affordable vacation home ownership, complete flexibility, access to recreational activities, 5-star resorts and services, better quality of life and luxury on a budget. And that’s not all.

It also means you will get to experience the climate advantage – warm weather in the winter and relief from heat in the summer. Plus you will be able to enjoy better infrastructure and transportation as well as safety and security that is unparalleled in other countries.

Start looking for your own condo or apartment to buy or rent today. Places such as Playa del Carmen, Tulum, Puerto Morelos offer condos at different price points – low budget studios to high end penthouses with all amenities you can think of!