Great Time to Buy Real Estate in the Ajijic – Chapala area
A Buyers’ Market: this area has between 2 ½ and 3 years of homes for sale at current buy/sell rates
Exchange Rate: Most Property is in US dollars, therefore for Canadians, with the near par dollar (recently hitting 103 x the USD, the exchange rate alone may save you several thousand dollars.
Direct Deed Purchase: (Similar to the US and Canada). This area does not require property to be bought through a Bank Trust (Fidicomisio) as near the coastal areas. This saves several thousands of dollars at closing and another 10 plus thousand dollars over the period of the trust. There are no annual fees when you buy with a Direct Deed. (Escritora)
Property Taxes: Property taxes in Mexico are low. Typically they will be between $50 and $ 150 dollars per Year.
Housing Prices: Housing prices in the area are reasonable. New 2 bedroom, 2 bathroom, small, well built homes are available for about $100,000 USD. Similar condos in a full facility Condominium Complex – excellent for those who are part timers and like easy living, range from $ 108k to 150k USD.
Amenities include heated pool, Jacuzzi, club house, fitness room, free laundry and much more. And of course there is a great selection of homes in the $150 to 350k range (300 +, homes). If you budget is higher, there are many more options.
When considering 2nd home, investment or retirement locations you may want to consider the following:
Location: Ajijic – Chapala is on the shores of Lake Chapala-Mexico’s largest inland lake.
Closeness to Major City: (Guadalajara)- 30-40 minute drive
Major International Airport: (Guadalajara) 20 minute drive
Ocean Beaches: (Manzanilla/ Puerto Vallarta- 3 /5 hours away.
US Border: 1 to 1&1/2 day drive- mostly on excellent 4 lane divided highways.
Many historical Colonial Cities: ½ to 1 day drive.
Foreign Population: For many reasons, this small Village area has one of the largest US/Canadian expat concentrations in the world. This brings art, theatre, sports, restaurants, clubs, Amenities, charity and volunteer work, medical and much more.
Weather: Would you like to live in shorts weather all year long? Snow and Sun “Birds”, those who want to beat the winter snow and cold or the summer heat and humidity, will enjoy the Lakeside weather that enhances that easy living, with no need of air conditioning and central heating. (This also reduces the cost of living, compared to a 40% increase in Canadian energy costs in the past 10 years.)