NOW is a great time to consider Cabo Real Estate, for those who want new investment opportunities. There are many reasons to consider this market and the many attractions the region has to offer. Though some financial advisers may not recommend the region for property investment, it is a relatively untapped market that offers huge potential for savvy buyers. The climate and culture are some reasons to consider Cabo Real Estate. The resilience of the people, the excellent prices for real estate, and the desirability of the area are other reasons to consider this market.
Rebuilding after Hurricane Odile
Recently, Cabo san Lucas and many areas throughout the Baja were hit by a devastating Hurricane. While “Odile” left much damage in its wake, it didn’t destroy the spirit of the people who live in Cabo. They are more determined than ever to rebuild and make Cabo a wonderful place to live. With a positive attitude, the region and economy can become even more prosperous than in the past.
Find Your Dream Home
This region located at the tip of Baja is thriving! The area represents a vibrant community and many business or work opportunities, for those looking for a new place to live, in a dream home surrounded by sun and surf. Homes are available at many price points, some starting at only $36,000 US dollars. Even those with a modest budget can find a suitable place to live in Cabo. There are plenty of qualified realtors and brokers in the area, who can help find a suitable home, to meet the needs of any individual or family.
Great Investment Opportunities
Cabo San Lucas is still a desired vacation spot. Those who want to own property, as a means of making money, can find plenty of vacation and rental properties to purchase. Investing in Cabo rental property will bring plenty of guests, who are willing to pay for a place to stay, that offers all the amenities of a prime vacation spot. Whether near the beach or farther away, there will be no shortage of tourists wanting a home lifestyle environment.
Plenty of Activity
In Cabo San Lucas, visitors and new residents alike will find plenty to do, any time they want to relax and enjoy what the region has to offer. Beautifully designed golf courses, crystal blue waters for surfing, sailing, swimming, or snorkeling, and great fishing are some of the activities available. White sandy beaches and plenty of sun are some other features that attract both visitors and new residents.
Enjoyable Weather and Climate
The Cabo climate is warm and 90% of the days throughout the year. Many people prefer living in warmer climates, to experience improved health, or simply to take in sunshine whenever they desire. Having beaches nearby can be a great way to relax, simply by taking a walk in the sand or enjoying a relaxing sailing trip on the water.
A Place to Retire
For some people, having a second home, or retirement home, provides a place to spend time relaxing and enjoying the golden years. There are properties such as villas, cottages, and condos, for those who desire low maintenance homes. Those who don’t mind caring for a home may prefer a house or a larger villa. Whatever the preference, a realtor or broker in Cabo San Lucas can help find the perfect retirement place.
Methods for Buying Cabo San Lucas Real Estate
There are several methods for purchasing property in Cabo. The method chosen may depend on where you want to buy property. For those who simply want a home to live or retire, a realtor can help buyers go through the typical process. However, if the property is desired in a restricted zone, a different process is required.
In areas within 30 miles of coastal areas and 60 miles of borders, a restricted zone has been established by the Mexican Government. In order to secure a property in one of the restricted zones, a buyer must purchase a trust, through a Mexican bank. Realtors with experience working in Mexico are able to help buyers navigate this process. The trust can be transferred to a new owner, if the sale of a property is desired. The new buyer also has the option of securing his or her own trust, through the Mexican bank.
The bank holds the title to the property, for the owner. However, the owner can still enjoy the rights of any other homeowner. This means the owner can build, renovate, add on, or otherwise alter the property as desired, as long as it complies with local building codes. In other words, the owner can still make the desired modifications, if desired. This is good news for property owners who want to buy rental units for profit. A bank trust permit can be established for up to 50 years, for those who may want to maintain a home for future generations.
In Mexico, a real estate transfer is finalized when the deed is notarized. Then the deed is registered in the property tax office and the Public Property Commerce office, in the region where the property is located.
Taxes and Mexican Property Partnerships
Those who simply want to invest in Cabo San Lucas Real Estate, along with other investors, must report any holdings to the IRS. However, reporting is only required if the share is 10% or more. Investors who own smaller portions of properties can still earn profits, while taking advantage of the investment. It is best to consult a Mexican property and tax expert, before investing in real estate in Cabo. A knowledgeable tax expert knows all the ins and outs of investing in Mexican property.
Offset the Costs of Buying Cabo Property
By purchasing a desirable vacation home, a couple who is planning for retirement can offset some of the cost. By renting out the home when they are not visiting, the additional funds can help pay for the home sooner. This is an advantage for those who are sure they want to retire and live in Cabo full time, at a later date. This strategy works for younger buyers, who also want a vacation home to enjoy.
Why Cabo San Lucas Real Estate?
The Cabo San Lucas Real Estate market has plenty to offer for everyone. Buyers can choose a fixer upper or a home that needs few modifications. Those who enjoy the water on a regular basis may want to consider something closer to the beach. Those who want to enjoy the culture can find a home farther inland. Inland homes are less affected by severe storms, though the property may still be affected by heavy rains or possible flooding. Buying Cabo Real Estate can be a great idea, for those who want to make money or want to live in a warmer climate, to enjoy the outdoors year round.
There are new properties for “Cabo Real Estate” showing up all the time and properties not yet appearing on the search, so if you want a current MLS listing, please contact me and I will email you a list based on your search criteria!
Until we meet along the beaches of Cabo…