I am so excited and proud to be sharing the results of buying a pre-construction property in Mexico (specifically Tulum), from my new apartment! Many people, including myself, were skeptical about this process, but I am happy to share that mostly everything went smoothly!
In this post I’ll go over the process and the frequently asked questions about it!
NOTE: Like my apartment, this post is a work-in-progress! It’s written in mostly story-telling format as well, so check back for more stories as I continue to put my home together!
Why I Decided to Buy a Pre-Construction Property in Mexico
For starters, let’s talk about why I chose Mexico. That’s easy for me; I LOVE it here! I’ve been back and forth to Riviera Maya (mostly Playa del Carmen) for years because of how beautiful and digital nomad-friendly it is. It’s only an hour flight from where my mom lives in Florida, and the quality of life here is absolutely incredible.
Now for why I decided on pre-construction instead of an already built property. Also easy; it’s a hella lot cheaper! Sure it takes longer and seems risky, but I saved about $75k, and now my finished property is already worth that much more!
Why I Chose Tulum to Buy My Property
A few years ago I was very Anti-Tulum. As one of the original “travel influencers”, I now sometimes get annoyed with what has become of it (everyone acting like they are one and taking endless selfies everywhere, which happens a lot in Tulum).
Then I actually tried living there for a few months and saw a different side of it. There is so much incredible nature aside from the beach, like the jungles, cenotes, lagoons, and ruins (not nature but you know what I mean). Upon further exploration of the beach zone, I found it was like a Caribbean version of Bali, but with Mayan culture instead of Balinese Hindu.
Tulum is also way less chaotic and modern-commercialized than Playa del Carmen, and I feel extremely stress-free living a simple yet fabulous life here. Well, when I’m actually here. I still travel full time for work.
Anyway, some more super important reasons why I chose Tulum to buy my property;
Tulum had the cheapest prices for pre-construction properties versus Playa del Carmen
The architectural designs in Tulum are exactly my style
Tulum is one of the current most popular cities in the world, so potential to rent my place out is high
They are building an airport and adding a luxury outdoor mall, which will also increase visitors
Do I Think or Worry that Mexico is Dangerous?
Would I live in a place if I thought it was dangerous? No. So think about that and also why I’m choosing NOT to live in USA.
I personally think it’s ridiculous how scared people are of Mexico. Sure, there are some areas with high crime, but hello, have you not heard about the daily shootings in USA? We’ve had maybe five shootings in the last few years in Riviera Maya, and they were cartel-related, meaning not targeted at tourists.
Tourists, expats, foreigners, are all basically protected here, because that’s how the locals make money. I travel and live in Mexico solo, and I don’t think it’s dangerous.
Check out my safety posts about it though:
Can Foreigners Buy Property in Mexico if it’s Near a Beach or Border?
YES! The law that forbade buying property in Mexico near a beach or border is like two hundred years old, and it was because this is how USA took over Texas and California. Now, the government has created a very easy loophole around this!
It’s called a “fiedecomiso” (translation: “bank trust”), and it’s basically a contract you and the developer sign, then do all the payments through a third party bank. So basically the developer gives the property to the bank, and you buy it from the bank.
Do You Need a Residency? Or to Stay in Mexico a Certain Amount of Time?
No and no. Remember, these properties are aimed at foreign investors, meaning they expect most buyers to never even come there. You don’t have to live in or even be in Mexico to buy a property.
That being said, you also don’t need a residency or citizenship, unless you want to stay more than 6 months at a time (the typical visitor visa). Residency also gets you some discounts though, so maybe something to consider. You can get your residency or long term visa through the same lawyers you use to buy the property.
Do You Own the Property in Mexico Forever?
YES. This isn’t Bali, there aren’t leaseholds that limit how many years you own a property. Once you buy your property in Mexico, it is YOURS until you sell it! Well, or if you don’t make the payments on it!
Some people have asked things like, “Can the government just come and take it away?” My lawyers said highly unlikely, unless there was a massive political movement to socialism or something. And again, maybe if you don’t pay your taxes!
My Personal Experience Buying My Pre-Construction Property in Mexico
Here’s the easiest way I can explain my personal experience buying my pre-construction property in Mexico!
May 2022: I went to Tulum and was connected (via IG) with a trustworthy realtor…who I trusted because they were on Home Hunters
