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SFandH
Elite Nomad
Posts: 6924
Registered: 8-5-2011
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Give it to me. I'll take it. I'll even pay to have the paperwork completed. 
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BajaTed
Senior Nomad
Posts: 859
Registered: 5-2-2010
Location: Bajamar
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Northern Baja:
Lets see;
First; only 5% of the world population gets to live by the ocean.
Best weather around the continental U.S,
My home sits on solid rock, it's mostly made of concrete and won't burn or fall down.
Es Todo Bueno
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CasaMaximus
Banned
Posts: 68
Registered: 9-17-2020
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I feel you. I just donated 3 one-half acre parcels in a gated community to a local charity and paid their property association fees forward a few
months mostly out of concern the property owners association is becoming insolvent.
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CasaMaximus
Banned
Posts: 68
Registered: 9-17-2020
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I spent the day touring property in the La Paz Municipality of Todos Santos today and report starter property of 1500 sf are listed above $206 per
square feet and homes of substance in excess of $250 per sf and up.
My sense is $200 is a value but the difference between the starter and statement properties is an additional $100 per square feet. Best of luck in
your search.
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phmilo
Junior Nomad
Posts: 59
Registered: 12-22-2020
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We've been visiting and 'shopping' real estate in Todos/Pescadero for several years. Prices have gone up steadily, but the market is very opaque. Lots
of houses go on and off the market, and asking prices vs. value seem to be pretty disconnected.
It seemed to me that there were a bunch of places where the condition and quality didn't match the price and those sat for a long time. Well
built/maintained places with nice features/good views/quality construction seemed to move off the market consistently.
We made a couple of offers on places that had issues that I felt could be easily overcome. These are things that I felt made them sit on the market
with little interest. I priced the offers accordingly at 20-35% less than asking prices. This is a pretty steep discount, but I was looking for a
value and not in a need to buy. Even with covid, people seemed to hold fast to unreasonable expectations.
It looks like the winter season did/is happening this year, and property is moving again. I'm sure it's a mix of pent up demand and people's desire
to move on. We had negotiated to ~325K$ vs. an ask of 400K$ back in March. We were re-approached several times by the seller, but they never moved
much on their ask. The recently re-listed at 345K and it now has an offer (not ours), so I expect it's pretty close to our 325K$. We finally got an
offer accepted on another property and are working through the closing process now. I think we wound up with a better value in the property. The place
is nicer and has more amenities. We started at 20% less than ask and settle at about 14% less. The place will need only minor cosmetic fixes and
upgrades for now.
We are right at the low end of CasaMaximus range 250-300/ft^2. And I think that represents an accurate assessment of the current market.
Construction prices are still cheap, so there is a lot of value in building. But what is the value of having a usable place and not having to deal
with building in MX?
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Howard
Super Nomad
Posts: 2346
Registered: 11-13-2007
Location: Loreto/Manhattan Beach/Kona
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Mood: I'd rather regret the things I've done than regret the things I haven't done.
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Quote: Originally posted by phmilo  |
Construction prices are still cheap, so there is a lot of value in building. But what is the value of having a usable place and not having to deal
with building in MX? |
Priceless
We don't stop playing because we grow old;
we grow old because we stop playing
George Bernard Shaw
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Bajabus
Senior Nomad
Posts: 892
Registered: 8-30-2002
Location: Elias Calles B.C.S. or NC USA
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Mood: My friends..it's good.
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We have had our property just south of Elias Calles since the early 90's. The house is not worth anything but over the years many have made offers on
the land. Each higher than the last. We are still holding out and I see no evidence of good ocean property going down unless there really is some
sort of cataclysmic event.
"Preventive war was an invention of Hitler. Frankly I would not even listen to anyone seriously that came and talked of such a thing."
Dwight David Eisenhower
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surabi
Ultra Nomad
Posts: 3084
Registered: 5-6-2016
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| Quote: Originally posted by phmilo |
Construction prices are still cheap, so there is a lot of value in building. But what is the value of having a usable place and not having to deal
with building in MX? |
Every so often I check out real estate in Todos Santos, as my daughter and grandkids live there and she'd love me to live close by. What I have
consistently noticed is that almost no house there, whether it's $200,000 or 2 million, has a well-designed kitchen. It's like no builder there knows
anything about designing a workable kitchen. The fridge is always stuck over in a concrete box at the edge of the kitchen, like an afterthought, with
no counter space next to it to put things down when putting away shopping, or taking things out- the whole kitchen layout is ill-conceived.
I had my house built to my own design on the mainland and while I admit that it was often a stressful process, there were no major hassles and I got
exactly the house I wanted.
That said, unless you speak Spanish, have some construction knowledge yourself, and enjoy the process of having a home built from the ground up,
buying something already built may be preferable.
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pacificobob
Super Nomad
Posts: 2237
Registered: 4-23-2006
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i have built here in Mexico several times. never had an issue. i do have knowledge of construction and the Spanish language however.
i think if you get references, see completed work by the builder, a have an agreement regarding price, schedule and are present [or a representative]
for everyday of the work, you will be happy with the result. if the owner is unable to monitor the project, get a knowledgeable person to "mind the
store" ...pay them well to monitor build quality, and progress.
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Lee
Ultra Nomad
Posts: 3455
Registered: 10-2-2006
Location: High in the Colorado Rockies
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| Quote: Originally posted by surabi |
I had my house built to my own design on the mainland and while I admit that it was often a stressful process, there were no major hassles and I got
exactly the house I wanted. |
Hired a Santa Fe architect (for a Todos home). Guessing home designs that don't work not done by a pro but the home owner -- even then, how is it
possible to screw up a kitchen, assuming some thought was given to home design? Don't go cheap on design.
US Marines: providing enemies of America an opportunity to die for their country since 1775.
What I say before any important decision.
F*ck it.
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Mulege Canuck
Nomad
Posts: 386
Registered: 11-27-2016
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Never build your dream house, buy someone else’s.
I love Baja, but every year there are places people have just walked away from. Put a low ball offer in and see what happens. Only pay what you can
walk away from. I would not consider buying property in Mexico an investment.
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surabi
Ultra Nomad
Posts: 3084
Registered: 5-6-2016
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| Quote: Originally posted by Lee | | Quote: Originally posted by surabi |
I had my house built to my own design on the mainland and while I admit that it was often a stressful process, there were no major hassles and I got
exactly the house I wanted. |
Hired a Santa Fe architect (for a Todos home). Guessing home designs that don't work not done by a pro but the home owner -- even then, how is it
possible to screw up a kitchen, assuming some thought was given to home design? Don't go cheap on design.
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Actually, most of the homes I was talking about that have terrible kitchen layouts were designed by supposedly professional architects or built by pro
contractors.
When it comes to kitchens, there is something known as the Golden Triangle of kitchen design- the fridge, the stove, and the sink should form a
triangle. It doesn't matter how long each of the legs of the triangle are, but following that model results in kitchens which are easy to move around
in and efficient.
I designed my own kitchen, and did a lot of research on kitchen design when I did it. I ended up with a very good kitchen- not particularly big, but
everything is super convenient. Counter space right next to the fridge to set things you are putting in or taking out, space for dirty dishes next to
the sink, ample counter space on both sides of the stove for food prep, drawers instead of cupboards and no high wall cupboards you need a stool to
get things down from, or the tops of which accumulate an inch of dust.
[Edited on 1-4-2021 by surabi]
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Alan
Super Nomad
Posts: 1617
Registered: 4-6-2005
Location: Yucaipa, CA/La Paz
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The other side of the equation when considering purchasing property in Mexico is the price of the peso. Many years ago when I purchased my home the
peso was trading at 10:1. If I were to sell today for even the exact same price I purchased it, in the eyes of Mexico I would have doubled my
purchase price as the peso is now closer to 20:1 and I would need to pay Capital Gains taxes on that profit so in dollars it would actually be a loss.
[Edited on 1-4-2021 by Alan]
In Memory of E-57
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brucedog
Junior Nomad
Posts: 87
Registered: 10-26-2015
Location: Oregon/BCS
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| Quote: Originally posted by Alan | The other side of the equation when considering purchasing property in Mexico is the price of the peso. Many years ago when I purchased my home the
peso was trading at 10:1. If I were to sell today for even the exact same price I purchased it, in the eyes of Mexico I would have doubled my
purchase price as the peso is now closer to 20:1 and I would need to pay Capital Gains taxes on that profit so in dollars it would actually be a loss.
[Edited on 1-4-2021 by Alan] |
Our builder warned about this and we upped the value of the build on the permit. This makes the permit more expensive but gives you a higher start
value (initial purchase price is the value you state on the building permit). We don't plan on selling but it's nice if we ever need to.
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Bajabus
Senior Nomad
Posts: 892
Registered: 8-30-2002
Location: Elias Calles B.C.S. or NC USA
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Mood: My friends..it's good.
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Save all your receipts to count against your capital gains. Don't get talked into declaring a lower value than you actually paid for the property.
Get your permanent residency.
"Preventive war was an invention of Hitler. Frankly I would not even listen to anyone seriously that came and talked of such a thing."
Dwight David Eisenhower
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Alan
Super Nomad
Posts: 1617
Registered: 4-6-2005
Location: Yucaipa, CA/La Paz
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| Quote: Originally posted by brucedog | | Quote: Originally posted by Alan | The other side of the equation when considering purchasing property in Mexico is the price of the peso. Many years ago when I purchased my home the
peso was trading at 10:1. If I were to sell today for even the exact same price I purchased it, in the eyes of Mexico I would have doubled my
purchase price as the peso is now closer to 20:1 and I would need to pay Capital Gains taxes on that profit so in dollars it would actually be a loss.
[Edited on 1-4-2021 by Alan] |
Our builder warned about this and we upped the value of the build on the permit. This makes the permit more expensive but gives you a higher start
value (initial purchase price is the value you state on the building permit). We don't plan on selling but it's nice if we ever need to.
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Also property taxes are next to nothing and there is something like a 50% discount if you pay them early.
In Memory of E-57
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Cancamo
Nomad
Posts: 345
Registered: 4-5-2011
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Property Tax Discounts, (Predial),
20% paid in January
15% paid in February
10% paid in March
50% with INAPAM card, (Folks over 60).
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surabi
Ultra Nomad
Posts: 3084
Registered: 5-6-2016
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| Quote: Originally posted by Bajabus | | Save all your receipts to count against your capital gains. Don't get talked into declaring a lower value than you actually paid for the property.
Get your permanent residency. |
The only receipts you can deduct are official facturas issued to your RFC#.
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Cancamo
Nomad
Posts: 345
Registered: 4-5-2011
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INAPAM
Instituto Nacional De Las Personas Mayoras Adultas
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Von
Senior Nomad
Posts: 961
Registered: 10-1-2006
Location: Poway-Rosarito
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Mood: getting ready!
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Rosarito? Im looking on the Oregon coast just as cheap to buy a plot and build a 1200 sqft house. 10xs safer cleaner , peaceful and worth it. Good
luck ,weve been in rosarito since the 30s boy has it changed My grandfather bought when it was 1 or 2 cars an hr out front on blvd 2000 two lane
black top. Its Corrupt, loud, stinks , and people drive so well and respectful not  maybe in a hundred yrs things will change. Good luck
READY SET.....................
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