A couple of weeks ago, Andy shared a series of 3 videos on building a home in Mexico.? See:
Besides the possibility that this is actually a buyer?s first experience with building, there are several factors which make the building process in Mexico different.? These include cultural differences, different construction styles and different laws and requirements.? In addition to all of this, many real estate buyers from the U.S., Canada or other parts of the world will not be present during most of the construction process.
This article will address the last point ? the planning, laws and requirement.? There are many similarities in process, but the specific laws and requirements, and how to work with these, are the points where the most significant differences can be found.? If a buyer has a specific plan on how to building process in Mexico, differences and obstacles can usually be handled with minimal complication.
Buyer?s First Steps & Considerations
Before a buyer invests in having land prepared, designing a home or taking any other concrete step towards owning and construction, there are a few basic considerations a buyer needs to make.? They can be summed up in 3 main points:
- Know what they want
- Know their budget
- Find a professional builder
These three concepts are essentially the same as they would be in the U.S. or Canada, but carry greater importance since the buyer will be in a new country and probably working from a distance.? They don?t necessarily have to be done in this order, but they before any concrete action is taken, these three items should be in place.
In the case that a buyer invests in a lot in a prepared development, where lots are ready for building, they can invest in the lot before finding the builder; however, in this case, they should be sure that their real estate agent is aware of their basic building plans and budget, so they can investigate and comment on the appropriateness any given lot.
Tomorrow, we will look at each of these considerations more carefully.? In the mean time, I invite you read our kit on building your home in Mexico to get a peak at the full series of articles ahead of time!
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Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at (512) 879-6546.
The TOP Mexico Real Estate Network; ?Mexico?s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!?
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