Retirement Secrets of Mexico by Russell Blake

Author:Russell Blake [Blake, Russell]
Language: eng
Format: epub
Publisher: Russell Blake
Published: 0101-01-01T00:00:00+00:00

Chapter 4 – Real Estate – Renting, Owning, Building, Mortgages, Home Insurance

Rentals

Once you’ve researched the various areas and decided on which of the numerous alternatives best fit your lifestyle and overall requirements, you’ll have to tackle the nuts and bolts of finding a place to live. Most will choose to rent for some period before they buy, which isn’t a bad call.

Most rentals in Baja come furnished, so furniture poses no problem for moving in. This is because it’s expensive to import things from abroad, so anyone who wants a shot at getting a renter has to do so furnished. There are exceptions at the lower level of the market, but they are exceptions, not the rule. On mainland, most rentals will be unfurnished, however I’ve found furnished places in every area I mention in this books, so it’s not impossible, just more time consuming.

When you’re scoping out areas to rent, I’d advise you to talk to the local real estate people, and find out if there’s someone who specializes in long-term rentals. Those listings will be a bit pricier than renting directly from the owner, but you’ll have a better idea of what you’re getting into, assuming the agent is reputable. Too often I’ve seen folks spot an ad in the local supermarket for a condo or home for rent, and get themselves into ugly situations. Typical is an inexpensive home that appears to be in good shape, but is actually in an area with poor or no security, and thus a target of opportunity for petty theft and car break-ins. Or you rent a bargain, only to find that the wiring is intermittent, the plumbing disastrous, and the landlord incommunicado when it comes time to fix problems (but not to collect the rent – they’re always there for rent collection).

Having said that, some communities offer pretty good networking for rentals, either on the Internet or via local publications. In the Cabo and San Jose area, the Gringo Gazette publishes classified ads that feature good rental exposure. In the East Cape area of Los Barriles, there are a number of online bulletin boards where Gringos advertise rentals. On mainland, Inmuebles24.com is a good resource, as is Trovit.com.mx, but to a lesser extent. Later, in chapter 8, you’ll find listed a host of Web resources you can use to do research, so don’t worry about exact addresses right now. Just understand that the Web has rapidly become the medium of choice for the rental market in many areas, so if you aren’t highly Internet savvy, you might want to start practicing. There’s a wealth of info out there, as well as a ton of community-oriented stuff like weather, local scuttlebutt, news on new businesses, etc. so you’d be foolish not to avail yourself of it.

As far as prices go, it will depend on which area you look, and what amenities you want. I’ve seen modest one-bedroom apartments in marginal neighborhoods go for a few hundred dollars a month, and I’ve also seen seven-thousand-foot dream homes renting for $5K and up.

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