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Author: Subject: Looking for a home under for under $60K
walterbyrd
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[*] posted on 6-26-2009 at 01:00 PM
Looking for a home under for under $60K


I don't expect anything by the ocean for that price, but what about something inland? I would also like internet access, and fairly close to a town.
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Santiago
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[*] posted on 6-26-2009 at 01:10 PM


Contact GeoRock on this site.
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[*] posted on 6-26-2009 at 01:18 PM


Walter, you can do it but you have to come look for yourself. Come to Baja with a serviceable vehicle, a few bucks to get around on, an open mind. Realtors won't be interested in helping you much at that low end but you can do it yourself. Find some little villages that look OK to you, round up somebody who speaks a little English, needs work -- just have him make some inquiries and soon potential sellers will find you. He can find out if they have a deed. If they do, you just look the places over, ask the price in pesos and do it all with a smile. Some of my pals have purchased homes down here just that way -- one for $23,000 U.S. in Santiago, one for $35,000 in Miraflores, one for very cheap in Agua Caliente, etc. etc. --- there are hundreds of Mexican families out there who would sell for reasonable amounts but you have to know if you like the little towns. You'll probably need city services and most of these little villages have them now. Good luck.
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[*] posted on 6-26-2009 at 01:27 PM


Walter, I thought you might be a retiree. Just belay what I said. Good luck finding work down here AND a cheap house.
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[*] posted on 6-26-2009 at 01:56 PM


For that price you could also find something close to the water but it will probably be on leased land. In other words your really not buying anything because the land owner owns all improvements, but depending on your game plan it might work out if the lease is for 10 years (the maximum) and legally registered.

Think of it as renting and paying a portion of the rent up front that you will probably, maybe, maybe not, probably not, who knows, get back when you sell to the next guy, if the owner decides to keep leasing and you can sell. Whatever you pay upfront is certainly at risk. Therefore the place should be a good value.

What do the small palapa type houses at Coyote or similar Bahia Conception locations go for these days and what's the typically lease amount?
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[*] posted on 6-26-2009 at 02:37 PM


k-rico, Good question.:)
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[*] posted on 6-26-2009 at 03:44 PM


there are a few fixer uppers from $20 grand and up here all with internet ...a little ranchito that has awesome fruit trees, palms etc., my nephews place is $25 G's and has a nice ocean view...there is a cool place for $20 in San Hipolito...etc...a really nice lot but only a small building on it for $30 with a sweeping view of the bay....there are quite a few available.

all depends what you want and where you want it amigo...




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[*] posted on 6-26-2009 at 04:18 PM


close -- including 1/2 acre of land 700 yards from the beach---
http://www.eastcapehomes.com/bajabungalow.html
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noproblemo2
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[*] posted on 6-26-2009 at 08:00 PM


It depends upon where you want to be, we live between Rosarito & Ensenada, there are many nice homes in your price range with ocean views, I can tell you which "realtors" in the area not to deal with..



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capt. mike
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[*] posted on 6-27-2009 at 07:52 AM
nice one Paul


Quote:
Originally posted by Paulclark
close -- including 1/2 acre of land 700 yards from the beach---
http://www.eastcapehomes.com/bajabungalow.html


which airport? Los Cabos?
what about from other local strips?




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[*] posted on 6-27-2009 at 08:39 AM


Where abouts in baja? buy land put a nice trailer to start? u can be by the ocean for sure........



READY SET.....................
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[*] posted on 6-27-2009 at 08:52 AM


Capt'n Mike
Nearest airport is San Jose del Cabo, nearest airstrip is Las Frailes, (23d22m N, 109d26m W) which has just been resurfaced (cliche) and is open. 4 miles north of us. Next is Rincon which has also just been resurfaced (cliche) and is open. 14 miles north of us.
Paul
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walterbyrd
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[*] posted on 6-27-2009 at 12:02 PM


I am not looking to buy right now, but maybe soon.

Does Baja have strict rules about where you can put RVs and/or trailers? I am in Colorado, here if you buy land, most likely you have to a home built by an established builder, and you have to do it within a certain amount of time, and it has to meet certain specifications. I could not just buy land an put a trailer on it.
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[*] posted on 6-27-2009 at 12:13 PM


thx Paul. good info to have. i have friends at Rincon 6 mos per yr.
that area is superb, by frailes. that is a good , no great land buy i believe.

the only new dirt being made these days is on the ocean floors - get it while it is hot!!




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[*] posted on 6-27-2009 at 01:29 PM


Heres one to check out.

http://www.bahiadelosangeles.info/message-board/index.php?do...

Might make a deal on the price???

Good luck,

Corky:lol:





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[*] posted on 6-28-2009 at 08:48 AM


Quote:
Originally posted by walterbyrd
I am not looking to buy right now, but maybe soon.

Does Baja have strict rules about where you can put RVs and/or trailers? I am in Colorado, here if you buy land, most likely you have to a home built by an established builder, and you have to do it within a certain amount of time, and it has to meet certain specifications. I could not just buy land an put a trailer on it.


That would depend on where your are---some quite developed communities have more rules, etc.

Are you aware of the laws about buying real estate in Mexico? Unless you are a Mexican citizen, you cannot outright buy property near the coast---I forget how many miles away from the coast one needs to be, but I sure someone else remembers.

So, IMHO, the safest way to purchase land or a house is through a bank trust which is good for 50 years with the right of renewal for 30 more, plus you can name beneficiaries. However, the cheapest I have heard lately for a bank trust is about $6,000 to 7000. dollars--.

There are other ways that as one agent told us, are legal, but not as safe. But some people are willing to take the chance.

Leased land---longest legal lease in Mexico is one day less than 10 years. Lots of people like this arrangement and many adhere to the idea of don't build anything you are not willing to walk away from----or like you mentioned, a trailer which you can pull away.

Not the place to do it, but I could tell you about a large leased development near San Quintin where the people really thought everything was great with their leases until the "owner" died. They had all built very nice homes. Long story as to how they saved it all, but it cost money and time.

So, just be cautious----Many people are VERY happy on their leased land and have their eyes wide open as to the possibilities.


Good Luck
Diane

[Edited on 6-28-2009 by jdtrotter]




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Paulclark
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[*] posted on 6-28-2009 at 03:11 PM


Note -- a Bank trust is for 50 years and renewable for an additional 50 years and ---in perpetuity in theory. The trust gives you the same rights as a fee simple property owner. The cost depends on the value of the purchase but is about $5,000 plus 2% of the purchase price. The 2% is the Mexican acquisition tax.
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DianaT
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[*] posted on 6-28-2009 at 03:40 PM


Quote:
Originally posted by Paulclark
Note -- a Bank trust is for 50 years and renewable for an additional 50 years and ---in perpetuity in theory. The trust gives you the same rights as a fee simple property owner. The cost depends on the value of the purchase but is about $5,000 plus 2% of the purchase price. The 2% is the Mexican acquisition tax.


Thanks---I was sure that our Bank Trust only had 30 years for the renewable---but I could be wrong---but then again, I don't think I will be around to worry about it. :yes:

Also, don't forget there is an annual fee paid to the bank holding the trust----still think it is the BEST way to hold property in Mexico---as you say, same rights a fee simple for the most part.




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[*] posted on 6-28-2009 at 03:43 PM


The older trusts are for 30 years, the new ones are for 50 and when you renew a 30 year trust you can renew for 50 years. The annual fees vary from bank to bank. The lowest I know of currently are $330US per year.
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[*] posted on 6-29-2009 at 05:06 PM
Bank Trust


I pay Bancomer 385.00 a year bank trust. 50 + 50. Just marry a Mexican and put it in their name.



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