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Surprising Secrets: 7 Things You Need To Know Before Buying A House In Mexico

Let's talk expats buying real estate and living in Oaxaca, Mexico! I'm joined by Donna Shields. Whether you're a seasoned digital nomad, an adventurous retiree, or simply curious about life south of the border, this episode is packed with invaluable insights. Email Donna to get her piece from International Living Magazine: [email protected] Real Estate: A Journey, Not Just a Transaction Donna Shields recounts her adventurous road trip from Key West to Oaxaca, undertaken to scout for the perfect relocation spot. In her quest to find the perfect home, Donna rented five different places over eight months, exploring various neighborhoods and zeroing in on her specific needs. Renting in Oaxaca, she discovered, is quite different from the US. Donna shares what you need to know to buy a house in Oaxaca, Mexico: 1. There is no MLS...it's a needle in a haystack process. There is no one centralized place to look at listings so buyers must contact multiple realtors to find properties for sale. Buyers also need to do a lot of legwork on their own, scouring through local Facebook pages for sale properties 2. The price of the same house can vary depending on the realtor. A property can be shown by different realtors, and the price may vary depending on the realtor. It is nothing like the standardized process we are accustomed to in the US. Realtors may consider you "their customer" just because they showed you a property, so be clear that you are working with multiple realtors. 3. There is no licensing for realtors. Just about anyone can call themselves a realtor so their knowledge level can vary greatly. It's critical that the buyer have a attorney specializing in real estate who can research the property prior to signing a contract. Some properties are "communal" which can convey a variety of obligations by the buyer. 4. Renovating can be a bigger headache than you think. We are experienced house flippers in the US, doing most of the renovation work ourselves. And yet, we are shying away from taking on a major renovation project for several reasons. 1) Without being fluent in Spanish, directing and managing a crew is very difficult, not to mention the vocabulary needed for construction is quite specific. 2) The permitting process is nothing like what we are accustomed to in the US which can be a good thing and a bad thing..less red tape but electrical and plumbing is not typically done to a standard we desire. 3) There is no such thing as a home inspection so it's buyer beware. 5. Buying a Mexican property means you likely need a Mexican will. Whether it's an investment property or your full or part-time home, it is an asset that must be protected. A will or trust that you may have in the US does not extend to assets you own in Mexico. Once you've purchased a property, finish up the process by having a Mexican will. 6. Work with a translator with real estate experience. Translators have specialties such as medical, legal, etc and you need someone who understands the real estate process. Not only do they translate but very often can guide you on the necessary steps to be taken with permits, notaries and items you just wouldn't know about. So think of them in a dual role; consultant and translator. 7. Buy a property with a very big cistern. Water shortages are a real thing and becoming increasingly more common. It may not sound like a significant feature, but you want a property with at least a 10,000-litre cistern. Additional tanks on the property are also a plus. Water delivery from the city can be sporadic..maybe once a month during the dry season...so having capacity to stock up and take deliveries from private water companies is essential. More articles Donna has written in International Living: My Motorcycle Adventure Through Mexico https://internationalliving.com/my-mo... Finding a Part-Time Home in Oaxaca https://internationalliving.com/findi... The Mexico Relocation Guide is the perfect resource for moving to Mexico. We've partnered with them and you can get the guide here: https://mexicorelocationguide.com/?re... 00:00 Introduction 01:03 Meet Donna Shields, Key West / Oaxaca 04:22 A motorcycle trip to 30 cities in Mexico 06:12 Exploring Oaxaca neighborhoods by living in them 11:54 1) There's no MLS 14:05 2) The price of the same house can vary depending on the realtor 15:43 3) There is no licensing for realtors 18:22 4) Renovating can be a bigger headache than you think 26:01 5) Buying a Mexican property means you likely need a Mexican will 30:41 6) Work with a translator with real estate experience 34:36 7) Buy a property with a very big cistern Are you planning on buying a house in Mexico? Let us know in the comments section below. 6-26 updated title