Nicholas Sanders of Yucatan Beach & City Property shares his checklist for property-buying success:
Mérida is a true success story and has transformed over the years. Many people, expats and nationals alike, are realizing the many benefits of life here. The Yucatán is safe, affordable, and an excellent choice for full-time living and investing.
Are you interested in purchasing real estate in Mérida, Yucatán, or other surrounding areas?
If the answer is yes, then here are some simple tips to get you started.
1. It is never too early to start your research if you are considering investing or moving to Yucatán.
A consultation with a Professional Real Estate Agent in the state of Yucatán is an excellent way to explore your options and learn about purchasing property as a foreigner.
2. Choose an agent by reputation, not by listings.
Working for an established broker is one of the most valuable resources for an agent to have, so take a look at the company website, and read their testimonials. A real estate agent will give you information as to what to expect before, during, and after your closing. And remember, the most valuable and accurate information will be from a professional real estate agent, not from social media.
3. Decide what the purpose of your purchase will be.
Will this be a home for full-time living, an investment property for rental/vacation, or possibly land for the future? Knowing this will help determine the best locations and property features best suited for you.
4. Think about the lifestyle you are interested in.
Are you a person who wants to be close to restaurants, shopping, and an active lifestyle? Then maybe city life is best for you. If you are a person who wants to have a more quiet lifestyle, with nature, close to the beach in a small town. Then one of the smaller beach communities is for you.
5. Have an established budget for the purchase.
Seller financing is rare, and bank financing is generally not an option. There are a few companies that offer financing to foreigners; however, interest rates are very high, fees are high and the criteria to qualify is stringent. Many historic homes will not qualify for financing. So be prepared to pay in full at the closing.
6. Have a timeline planned.
Know when funds will be available and when you will be ready to make a purchase.
7. Stay within your budget when searching for properties.
If a property is correctly priced, it will sell very close to the listing price. Being an informed buyer will give you an edge in the market. It will also help you move forward with confidence and reduce stress during the process.
Let me help
As a professional real estate agent, I love doing consultations for anyone exploring the options of purchasing here, and it is a privilege to share my knowledge and to guide you through the process. This service is available by phone, WhatsApp, and video chat.
Remember, it is never too early to prepare for your next adventure, so contact me today to schedule your consultation and get prepared for your first property purchase here in Yucatán.
About Nicholas Sanders
Nicholas Sanders has proudly worked as a real estate agent with Yucatan Beach and City Property since 2017. In this time, he has built a reputation for honesty, integrity and as one of the hardest-working agents in Mérida! His goal is to guide buyers on the amazing journey of finding their dream home in Yucatán, from the first phone call to the closing and beyond.
Nicholas moved to Mérida nearly 12 years ago from Indianapolis, Indiana. He takes the love of his new home and applies it to his profession by sharing his knowledge of the area with his buyers.
Nicholas now lives with his husband and their four dogs near Centro. Together they have visited over 30 archaeological zones, all the best places to eat in Mérida and now they are currently going through their own renovation project. He continues to contribute to the local community with professionalism and trendsetting.