Answers To Frequently Asked Questions:
About Buying Property in Mexico
Q: Do you have Annual Homeowner Dues?
A: Yes. Homeowner fees are presently in the range of $400 to $450 a year and include the costs associated with the common areas, roads, caretaker home and caretaker wages, taxes and benefits, a local manager that oversees the Caretaker and certain related administrative and bookkeeping expenses. Property taxes are a separate expense and are very reasonable compared to what you pay in the U.S.
Q: What is the cost to apply for a Bank Trust or form a Mexican corporation?
A: Fees can vary significantly based on who you retain, but generally run in the $6,000 range. It can be less expensive to form a Mexican corporation which avoids the annual Bank Trust fee. We can recommend certain providers of this service that we have worked with successfully in the past.
Q: How much does it cost to build?
A: The current price to build is in the $80 per square foot range. The price will be lower for garage space, covered patios and decks. Building permits are required and the contractor will secure the necessary permits.