So you’ve fallen in love with the idea of owning your own vacation home in Tulum, Mexico? Or maybe you love the idea of buying a house in Tulum Mexico for you and your family. Well, I have some good news for you. Because North Americans and other foreigns can buy their own Tulum vacation property or Tulum house. And buying a house in Tulum can be a great investment and rewarding for your lifestyle.
Before you get too carried away. We’ve made buying your Tulum property as a foreigner easy. Just follow the 5 steps we’ve outlined below.
Here are the 5 Steps to Buying a house in Tulum or buying a vacation home as a foreigner.
1. Decide: For Personal use or Invest?
The first thing you need to consider is if you are buying for your own personal use or for investment. You can have the best of both worlds. Meaning you can use your vacation home and rent your property to help cover some of the costs. A secluded home in Tulum may be what you want for you and your family. But if you are buying for investment purposes then vacation renters may want a place not secluded. Instead, vacationers maybe looking for a place with amenities near local sights or attractions.
It’s important you decide what you want from your Tulum property. If you buy it for your own personal use, then you can always decide further in time if you want to rent it out as a Tulum vacation rental or keep it for you and your family. You can enjoy capital gains anyway, as property prices rise steadily in Tulum Mexico.
2) Research Tulum neighborhoods and areas
Decide on the area or neighborhood where you want your vacation home to be. Consider areas that are accessible or secure. Explore places you have lived or visited in the past. If you are buying a house in Tulum, it’s easier when you have some local knowledge. Ask a real estate agent to help you. Research Tulum neighborhoods and considering the pros and cons of each.
3) Contact a Real Estate Agent to get local listings and other information regarding options.
It is best to work with a local real estate agent in Tulum. Contact a Tulum real estate agent who knows Tulum real estate very well. Ask them to send you Tulum property listings. And when you talk with them on the phone, ask questions about buying a house in Tulum as a foreigner. A Tulum real estate agent is essential to your success. Their local knowledge is vital to your research and decision making. And not all Tulum listings are available online. Our Real Estate agents have access to all available Tulum listings including off-the-market properties. With the help of our Tulum Real Estate agent, you will find properties that will meet your preferences.
4) Schedule a trip to see Vacation Rentals/Homes in Tulum
Schedule a one-to-three-week trip to Tulum Mexico. Choose to rent a Tulum condo or rent a Tulum house to stay. If you rent a Tulum vacation rental, you will get a feel for the living conditions of a Tulum home. Explore other houses and homes in Tulum. Meet with your real estate agent in Tulum (remember to find a Tulum real estate agent prior to your arrival). Visit all potential properties. Use your own gut instinct. Check structural integrity and examine amenities. Explore shops and local markets. Asks locals lots of questions about Tulum. This can help make sure that this area you choose in Tulum is the right location for you.
5) Make an Offer to Buy your house in Tulum
Outline your budget for purchasing your Tulum vacation home. Include insurance, legal costs, notary fee and translation fees (if needed). Meet with your local lawyer. Consult your lawyer and real estate agent before you put in a bid on any property in Tulum. Ask your lawyer and real estate agent to brief you on the home-buying process in Mexico. Have your lawyer check the title and any legal permissions associated on the property. Request an independent translation of all documents even if signed. Make an offer on your Vacation Rental in Tulum through your real estate agent. Sort and negotiate financing on your Vacation Rental in Tulum.
Do you need help looking for your ideal Tulum vacation home? Would you like to see some listings? Click here to contact us today and we will help you.