I like having my stuff in my house and being able just to grab my keys and passport and go. In reality, I take a messenger bag with some backup items in case I get stuck in transit, but only because I'm that sort of person.
I have lots of amenities at my house that would simply not be there if I were renting. (Dive gear, btw, can be stored at a reasonable fee at Cozumel Scuba Repair, so having my dive stuff there is a very weak reason).
When I walk through my door, I'm "Home" more than any of the many other places I've lived during my life.
You put the property into a bank trust called a fideicomiso that officially owns the property. You direct all aspects of how the property is used. The trust can sell the property, you can sell the trust, and you can nominate heirs in the trust so the property doesn't have to go through probate. Non-citizens can't own property near the borders or coast, so this trust is a way around that. It's a very well-established process that's trustworthy and reliable. Of course, it adds a couple of hundred bucks per year in trust expenses. You can also form a Mexican corporation to own the property under some circumstances.
Not really. Prices are all over the place. We looked at places that cost much less than my car. The range you quote is not something we would even have considered. Much depends on proximity to the beach.
Depends. Do you want to live there and be in the community? There are many nice neighborhoods. Do you want to be able to watch the waves from bed? Are you primarily wanting to rent it out to people who have difficulty distinguishing your condo from a hotel room? Do you want to live out in the jungle? Do you need high-speed internet? Do you need electricity?
I would say not to expect to realize a capital gain over anything less than decades, irrespective of what prices do. Real estate is not at all liquid in Mexico. Even with motivated parties on all sides, a sale can take months and the system can be pretty arcane to those unfamiliar with laws based on the Napoleonic Code rather than Common Law.
Buy property if you want to live in that property or have it at your disposal for a very long time. I would not recommend thinking of Cozumel property as an investment unless that's something you do for a living and are very adept at.
Yep. Most of those.
Our current renter has the thermostats set to 70F. It doesn't matter if someone says they take great care as a renter, or if they say they never use A/C, or whatever - being a landlord sucks. I hate it and only rent because my parents are currently co-owners and want to rent it. The moment I own it outright, it's off the rental market.
Gotta disagree, and strongly. I'm just not a condo person. I like my house with my own private pool all surrounded by my own wall. My neighbors keep a close eye, and our managers have somebody there every day when it's not occupied. We pay less than most pay in condo fees. I can manage a lot of things remotely (thermostats, etc.) from anywhere.
Buying property in Cozumel is not really a sensible thing to do, and most arguments in favor of it come from people, like me, who are trying to justify pursuing a dream. If it needs to be sensible, or if it's going to tie up resources that you need for other things, don't do it. We've had our house for nearly 5 years now and it's still the place of my dreams
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