Hello! I am a first time poster hoping to get some info for retirement. I am thinking of retiring in either Cancun or the British Virgin Islands (or asia) I am researching the pros and cons. I do not intend to work and live entirely on my pension. I know about the fideicomiso trust in Cancun. I have heard about the exorbitant home association fees in Salvia ($500 USD a month!? plus daily living fee!? ) My question are the ff: 1. Anybody heard of La Amada ? What is the fee structure there ? 2. What about owning a house in the hotel zone ? what are the pros and cons ? how much would the property tax be ? 3. Is there ciguaterra poisoning incidents in Cancun or is this a BVI thing only? (I love to sail and fish) 4. Can anyone recommend a good condo or house in the hotel zone ? Please indicate what the maintenance fee or other fee entails. 5. Is the fideocomiso safe ? I am worried that the political winds change and revoke all trusts. Thank you!!!
I'll just comment on item 3, and 5, at this time. 3. Ciguaterra can occur here and the public health authorities issue warnings when the risk rises. It is not a big problem. 5. According to what I've read the fideicomiso has been around for forty or more years as a vehicle for getting around the limitations on foreign ownership of property along the coasts. You'll get tired of paying the annual fee but it's a respected way to own property here.
Thanks V. I am in cancun now with the wife enjoying the beach. We are leaning heavily towards retiring here someday. Schedule permitting, I will see if I can find a good realtor/broker here just to explore options. I saw some townhomes that are on the lagoon. Anybody know how much those costs? How much are the fees ? I think Cancun has more options than the BVI. The BVI is great but I think after a while the island thing gets old fast. Cancun has more development so island fever won't be a problem. Provisioning is also not a problem in Cancun. I appreciate your assistance and quick response. I will continue to search this forum for more info. Thank you.
The annual property taxes are very cheap in Cancun. At first you mention Salvia, then mention something Lagoon front. What is it you are after, a lagoon front place or oceanfront place? Also what size unit are you looking for. Currently you are all over the map. The fideicomiso is a trusted way to own property, nothing to be worried about there
Hi Steve, Thanks for the info on property taxes. The wife and I don't have any kids. We are looking for a retirement/vacation home/condo/townhome on the beach or lagoon front (as long as it has a boat dock) Minimum 2 bedrooms. 2 bath. We've already looked at the BVI and after this latest Cancun trip, we think Cancun is more suited to our needs. It will be a couple of years until we retire, but we were thinking about owning now, since we spend a lot of time here anyway. Maybe rent it out when we are not here ? Anyways, any info on any of these types of properties would be much appreciated. In the meantime, we'll be gone for the rest of the day to wander around downtown. We're scoping out the mall and maybe Labna for lunch. Thanks!! Cheers!! Jann
well for starters if you see thinking about something you can rent out 3-6 months per year, then you can pretty much take the lagoon front property off the table. People who come to rent for 3 to 6 months mostly want oceanfront. Salvia does not have 2 bedrooms if i am not mistaken, they are all small 1 bedroom or studio. Now there are other places with 2 bedroom 23 bath unit, depending on budget. If you want more of a luxury unit then Bay View grand or Portofino. These 2 bedroom units are around 2000 sq feet and will cost you around $430,000 to $450,000. HOA fees around $500 per month and property tax around $75 per month If this is not within your budget try Villas Marlin. They have smaller 2 bedroom 2 bath 2 story villa units around 950 sq feet you can buy for around $200,000. They also have larger 2 bedroom 2 bath one level units 1350 sq feet in the tower, figure around $300,000. HOA fees in the smaller ones i believe around $250 and larger ones around $375 and I agree you are better off in cancun then BVI for a retirement home. Especially if you will spend 6 months a year. BVI is difficult and expensive to get to and island living will get really boring after a few weeks I would tend to think. Nice for a 1-2 week vacation, but not to live.
Let me interject some issues that you may have not looked at and also some items based on your comments. First any condo you rent or own in Cancun will not have a dock attached to it. No matter if ocean front or lagoon front. If you move further south towards Playa Del Carmen then yes you may find that option but am not sure about it. As for the options of Cancun, BVI or the Far East the prices you are looking for are greatly varied. In the BVI you wont find anything cheap as your would in Cancun. Also you don't realize that in the BVI you must get sponsorship from someone to be able to purchase property there. In BVI everything is shipped in vs. many items are made in México so cost of living is much lower comparatively in Cancun. As for the Far East yes you can find prices cheaper than Cancun but am not sure if you would like the atmosphere compared to Cancun unless you try it out for a time to make sure you want to live in the country you choose.
This not quite true. I know for a fact 100% there are condos/villas in Isla Doroda (next to La Isla Mall with docks in the front. ) as well as single family homes. There are also some over by the area where La Palapa Belga is located. here is a one for sale in fact http://www.puertorealty.com/english/listing/cms-297-isla-dorada/
We have owned a house in the Hotel Zone, on Pok-ta-Pok golf course, since 2007. Our property taxes plus the fideicomiso fee are less than $1K per year. We live on a mixed residential street off KM 7.5 Kukulcan Blvd called Calle Quetzal. There is a group of 12 condos at the very end of the street along the cul de sac. There is (or was when we left May 6) an end unit for sale that does in fact come with a boat dock on the lagoon. I don't know what the exact monthly fee is but I do know that our friends who live there have said that the fee is minimal. If you are there in Cancun now, you may want to go look at the area and take the info down on the Venta banner. Also, the Property Manager lives in unit #2 and he may know if there are others there that are for sale.
I stand corrected on the dock issue. I completely forgot about Isla Dorada or the area by the golf course. Sorry about that. I was thinking more of the area between Isla Dorada and the entertainemnt zone as well as further south towards Club Med.
