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SFandH
Elite Nomad
Posts: 6929
Registered: 8-5-2011
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| Quote: | Originally posted by Ateo
Hello fellow Nomads,
It is my goal to retire in Baja. We have been exploring the peninsula in hopes of finding the perfect place to suit our needs. We have a couple
places on our radar but haven't settled on anything yet. We are focused on the Pacific side as I need waves and cold from time to time.
What is your opinion of the current health of the Baja real estate market? Where do you see it going?
We may buy an existing casa, or we may just buy a lote and slowly build over the next 10 years.
I know you Nomads have tons of opinions so let 'em loose!!!
Gracias,
Ateo |
My opinion......happy wife, happy life. Listen carefully to what she has to say about where, when, and how and if it's reasonable, go with it.
I bet real estate has bottomed out. I would look for an existing house that already has a fideicomiso or a house on leased land in an established
community. Just my preference.
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Ateo
Elite Nomad
Posts: 5847
Registered: 7-18-2011
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Very stoked on all the feedback here. Thanks for taking the time all!!!
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cessna821
Nomad
Posts: 148
Registered: 9-17-2010
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To SFandH
You got that right, absolutely spot on!
Existing home, clear legals, wifely comfort and security.
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Cypress
Elite Nomad
Posts: 7641
Registered: 3-12-2006
Location: on the bayou
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Mood: undecided
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Rent for a few months. You'll learn a lot.
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Islandbuilder
Senior Nomad
Posts: 555
Registered: 11-9-2011
Location: nob
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Mood: bewildered
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After 20 years as a home builder, the only way to make sure that your construction budget comes in on target is to buy an existing home.
Either you're making a financial investment, or you're investing in having the retirement life of your dreams. Don't sacrifice the later in favor of
the former.
I look forward to reading your account as you walk through this process.
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J.P.
Super Nomad
Posts: 1673
Registered: 7-8-2010
Location: Punta Banda
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Mood: Easy Does It
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| Quote: | Originally posted by Islandbuilder
After 20 years as a home builder, the only way to make sure that your construction budget comes in on target is to buy an existing home.
Either you're making a financial investment, or you're investing in having the retirement life of your dreams. Don't sacrifice the later in favor of
the former.
I look forward to reading your account as you walk through this process. [/quot
Couldnt agree more I bought a contractor built new home and moved in and started my retirement that day. free to travel and do what I like.
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Ateo
Elite Nomad
Posts: 5847
Registered: 7-18-2011
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| Quote: | Originally posted by Cypress
Rent for a few months. You'll learn a lot. |
Dig it and get it. Gracias. I will and I will.
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Ateo
Elite Nomad
Posts: 5847
Registered: 7-18-2011
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| Quote: | Originally posted by Islandbuilder
I look forward to reading your account as you walk through this process. |
I shall keep you posted IB. Thanks for the feedback!!!!!!!!! It is all being recorded. Gracias.
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DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
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It is different for everyone. We bought our beach front place half finished and enjoyed the project of finishing it. We did not want to lease
property or have anything to do with ejido property, but others find that to be ok. We definitely wanted to be beach front and not in the middle of
town.
It is just really different for everyone.
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Ateo
Elite Nomad
Posts: 5847
Registered: 7-18-2011
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| Quote: | Originally posted by DianaT
It is different for everyone. We bought our beach front place half finished and enjoyed the project of finishing it. We did not want to lease
property or have anything to do with ejido property, but others find that to be ok. We definitely wanted to be beach front and not in the middle of
town.
It is just really different for everyone. |
Diana T: Thanks for introducing the "purchase half finished" option. I bet there are many of those. I'm keeping my eyes peeled and ears opened.
Gracias. I prefer out of town or outskirts. My dream of perfect surf spot in front is dead. I will drive for waves. This opens up the
possibilities gigantic.
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Islandbuilder
Senior Nomad
Posts: 555
Registered: 11-9-2011
Location: nob
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Mood: bewildered
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Ateo, you can get lot with a great break in front, but you may have to buy 600 acres to do it! Check your u2u.
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windgrrl
Super Nomad
Posts: 1323
Registered: 9-2-2006
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East Cape seems to be seeing an uptick in the rental market, lots more RV traffic and folks are staying for longer. More modest digs seem to be
selling better than homes over $200,000. The boom prices are adjusting downwards and some of the big homes built during the housing boom that have
been for sale for a long time are moving a bit.
Rent or RV first, get to know a place and costs and decide what fits your ideals, lifestyle and budget. It can be complicated to keep practical things
in mind when you are chasing a dream, so get all the costs and then do a simple cost comparison for start up and then what you will pay over the next
10 years. Then factor in things like recouping $$$ through rental and resale.
When the way comes to an end, then change. Having changed, you pass through.
~ I-Ching
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gnukid
Ultra Nomad
Posts: 4410
Registered: 7-2-2006
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Buying land and having a home in mexico means 24/7/365 maintenance and security plus political and social headaches. Renting or camping gives you the
option to GO and be FREE to do whatever you want on a given day with no costs or concerns.
The biggest risk to buying and having a home is if you miscalculate and end up unable to afford to pay your bills or afford to live there and the
house might just deterioate without your cash flow. Eventually you might loose it to squatters or vandals or worse.
So no reason not to visit/rent or if you have the long term financial stability to maintain a home and staff in a foreign country with all the costs
and requirements then go for it.
Personally I think having a home in a more populated area is more stable then the option of being remote which is awesome but hard to maintain.
Also I find many NOB types (like myself) are often confused about what we want NOB with what works SOB. For example, in Baja you need almost nothing
except a hat and shoes and shorts but flat screen tv, cadillac, and swimming pool are not neccesarily helpful items.
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MitchMan
Super Nomad
Posts: 1855
Registered: 3-9-2009
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I have been watching the real estate market in Baja since 1999. No time like now to buy in La Paz. If you spend time looking around, there is plenty
of land and homes to buy...everywhere in every direction. No shortages! And, at all levels...low basic living to high end and absolutely everything
in between.
In La Paz, in the last three years, commercial building has gone through the roof; several new strip malls, 2 new multiplex movie theaters, a Walmart
and Sam's club, a Home Depot, 2 new big supermarkets, a new little casino, a huge new shopping center with a great walking mall and a department store
called Liverpool that is exactly like a Macy's, all within 3 miles of my neighborhood.
With all this going on, the prices for real estate are still very good and there is plenty of real estate to be had from raw land, residential lots
with all city services and plenty of homes for sale at all levels of affordability.
If you are not very good at looking for deals or if you don't care to look on your own, you will be stuck paying a premium price for what you get.
But, if you have some common sense, some time, and are willing to do detailed searching, you will find deals that will make your head
spin....actually, that's they way it has been since 1999 in my experience.
There are a lot of people that have a lot of money, and there are people that don't. Some people that want to come to the Baja only think in terms of
beach front and others that just want to be near the beach (gigantic difference in cost between these two alternatives). Some people will only
consider living in American enclaves and others are pleased with living among the locals. Some people feel that the only acceptable life style is new
American-like architecture, modern appliances, antiseptic environment, gated communities. Others may be quite satisfied with a more 'rustic' and
down-to-basics life style. These are the differences that go unmentioned but, in fact, account for the differences in cost and experience.
The good news is that in Baja, all is abundantly available...and I do mean abundantly.
You can buy a residential lot (not ejido) for around $25 USD per sq meter if you look around within 1 mile of the beach and within 5 miles of down
town. You can build a cinder block basic home for around $50/sq ft for materials and labor total if you do your own contracting and hire a working
abanil (experienced construction guy that is not a licensed contractor) to oversee the construction crew...you do that purchasing of the materials.
Expect to pay at least twice that much if you hire a licensed contractor to do everything for you. Still not a bad way to go and comparatively cheap
to have a contractor do it all at $100/sq foot of basic style home construction.
The best advice of all is given right here in this forum: rent a while, look around, get familiar with things, do your 'due diligence' research, then
plant your roots when you're "informed and knowledgeable" with the truth. For those of you that are cost conscious, that would be the cheapest way to
go in the end.
BTW, walking in town and limiting your housing search to real estate offices will most likely have you payng a premium. Getting to know people,
talking, driving around and looking for "For Sale by Owner" properties, will steer you to much, much better deals. In fact, there are many, many
properties that are actually available for sale that are not on the market. Not a bad idea to ask an owner of a property that you like if they would
consider selling it to you. Put out a verbal offer to them, to many properties that you like. Put out the fact that you are looking for a property to
just about anybody you casually meet and you will be surprised at how many actually available properties there will be to you.
[Edited on 2-9-2013 by MitchMan]
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Ateo
Elite Nomad
Posts: 5847
Registered: 7-18-2011
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MitchMan: GREAT FEEDBACK!
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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Mitchman-------Bravo!!! That is some of the best comprehensive 'feedback' on the subject I have yet to see---------well done.
Barry
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MitchMan
Super Nomad
Posts: 1855
Registered: 3-9-2009
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Thanks Ateo and Barry.
Good to hear from you Barry, hope you've profited from the market lately.
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fbineastcape
Newbie
Posts: 5
Registered: 6-10-2010
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check your u2u
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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| Quote: | Originally posted by MitchMan
Thanks Ateo and Barry.
Good to hear from you Barry, hope you've profited from the market lately. |
Hi Mitch------Yes, generally I have, but it sure is a mixed-bag day-to-day. As almost always, the Market acts A-political, and goes where it thinks
there is opportunity which is often confusing for we mortals, and sometimes leads to personal dismay. 
Tho I hate to "trade", and it goes against my grain, it has been necessary from time to time to take advantage of obvious abnormalities and spikes and
skim a few profits. Drives me a little nuts, tho. Ken Fisher is now almost exclusively in mega-caps, and all over the world---a fairly conservative
position. My personally managed investments are more aggressive (mostly Sector Funds), and lately that has paid off nicely.
It's all good.
Great to hear from you.
Barry
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Sweetwater
Senior Nomad
Posts: 915
Registered: 11-26-2010
Member Is Offline
Mood: chilly today hot tomale
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Location, location, location.
The three rules of real estate. Know your location.
After that, the fourth rule of real estate is that it is 100% local.
LaPaz is not Mulege is not Loreto is not Gonzaga.
Each locale has it's own market and niches. You have to look at the macro and then the micro. Hard answers to discover if others are involved. I won't
get to buy Baja unless my wife is not in the picture. It's not her British cup of tea...
Everbody\'s preachin\' at me that we all wanna git to heaven, trouble is, nobody wants to die to git there.-BB King
Reality is what does not go away when you stop believing in it. -Philip K Dick
Nothing is worse than active ignorance. Johann Wolfgang von Goethe(1749-1832, German writer, artist and politician)
When choosing between two evils, I always like to try the one I\'ve never tried before. - Mae West
Experience is what keeps a man who makes the same mistake twice from admitting it the third time around.
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