So you’ve fallen in love with the idea of owning your own vacation home in Tulum Mexico? Well, I have some good news for you. Because North Americans and other foreigns can purchase their own Tulum vacation property. And buying Tulum property can be a great investment and rewarding for your lifestyle.
Before you get too carried away. We’ve made the process of acquiring your Tulum vacation property easy. Just follow the step we’ve outlined below.
Here are the 5 Steps to Buying a Vacation home in Tulum as a foreigner.
1)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 rental and rent your property to help cover some of the costs. A secluded home in Tulum may be what you want for yourself. But 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.
2) Research 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. Buying a home will be easier if you have some local knowledge and can communicate with locals. Research Tulum neighborhoods and considering the pros and cons of each. Read Tulum expatriate websites and local news.
3) Contact a Real Estate Agent for local listings and other information
It is best to work with a local real estate agent in Tulum. Contact real estate agents who know Tulum real estate. Ask them to send you Tulum property listings or talk to you on the phone. Ask questions about buying Mexico property as a foreigner. Ask about the closing prices on recently sold properties in Tulum. A real estate agent is essential to your success. Their local knowledge is vital to your research and decision making. Not all Tulum listings are available online. Real Estate agents have access to listings. With the help of your Real Estate agent, you will find properties that will meet your preferences.
4) Schedule trip to see Vacation Rentals in Tulum
Schedule a one-to-three-week trip to Tulum Mexico. Choose to rent a condo or house to stay in. Rent a vacation home rental so you can get a feel for the living conditions of a Tulum home. Meet with your real estate agent in Tulum. Visit all potential properties. Use your own gut instinct. Check structural integrity and examine amenities. Take Spanish classes and meet with other expats. Explore shops and local markets. Asks locals lots of questions about Tulum. This can help make sure that this area your choose in Tulum is the right location for you.
5) Buy your Vacation Rental 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.