It’s been decided.

Well, it’s finally happening. We’ve been talking about it for years, but I was starting to think that it would never actually happen. We’re moving to Mexico and I couldn’t be more excited!

Last weekend, we took a trip down to Rosarito to stay at a friend’s beach house and set up a viewing for a property that looked AMAZING. This was the first step in finally realizing that this could be our reality. We’re officially looking!

The community we looked at is about 15 minutes south of the San Ysidro border and about 10 minutes north of downtown Rosarito. Perfect location. We were drawn to these properties because, unlike a lot of new builds in the area, these are not condos. We have 2 dogs (and a cat) and condos are not conducive to pet ownership. You think I want to take an elevator down 14 stories first thing in the morning to go and walk my dogs? Hell no. I want to be able to open a door and let them do their business, while I make coffee in my underwear. Two birds.

When we arrived at the property, we discovered that the lady we were supposed to meet was not going to be able to show us around, but she had coordinated with another person to have her help us out. While we waited for her to arrive, we toured the grounds and checked out the private beach access. Yes, you read that right – private beach access.  There was also a pool, a community room, some grills and they were working on a gym.

The tour of the model was just insane. Everything was modern and beautiful. The house was 3 beds 3 1/2 baths, which means that every bedroom was like a master suite – complete with walk-in closet! There was a rooftop deck, ocean views…. I could go on and on. Let’s just say, it was PERFECT.

So now what? We really hadn’t intended on looking at anything to buy but this was SO tempting!

One of our main hold-ups for not considering a home purchase in Mexico was due to fideicomiso. Fideicomiso is a 50-year perpetually renewing bank trust that foreigners can use to purchase property that is within 100 km of the US border or within 50 km of the coast. It basically means that a bank in Mexico will actually own your property and hold the title, but that you are the trustee. Outside of those bounds, foreigners are free to purchase outright, but not within them. No one wants to buy a home they don’t actually own, right? I certainly don’t.

Another reason we are held up on owning right away is that you can only renew your permanent residency status up to 4 years. After that, you need to start applying for citizenship. Now, I’m not opposed to that at all, but how can I know what the political climate will be in the US or in Mexico at that time? Will it even be possible be become a dual citizen at that time? The last thing I want is to be the proud owner of a beautiful home in a country I can’t even live in!

Additionally, we hadn’t been saving for a down payment because we can use the VA home loan (thanks to my husband’s 8 years of service in the Army) which doesn’t require a down payment at all. Unfortunately, the VA does not approve loans for homes outside of the US – bummer. So, maybe we buy in Mexico in the future, but for now, sadly, that option is out.

 

 

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