Mexico - Do You Have a Plan B???

[RVGRINGO]

Very true! The concept of real estate agencies and the need to pay commissions is not well received in Mexico, except by expats in tourist areas or areas where expats settle in large numbers. Finding real estate requires footwork and word of mouth. One must search the target area for 'se vende' signs and, even then, ask if a piece of property might be for sale if it interests you. By the way, most Mexicans and few expats chose to live 'remotely' for a variety of reasons.

[BryansRose]

I haven't been over to Rio Verde, but I can answer most questions about the city of San Luis Potosi.

I found a realtor there by doing a search for agents on the Re/Max website. You might also try Century 21 -- they have a site you can search for international. I can put youin touch with the realtors I know here in SLP but I'm not sure if they work as far away as Rio Verde.

And word of mouth is always a good way to find things here.

[BajaGringo]

When looking in remote areas you will find great advice at places like small stores and shops where you can talk with the locals and just ask. Much of the property for sale in remote areas may not even have a "se vende" sign. Talk to the locals as they know what's up as well as if the property has any history of title disputes.

I have often found their information to be much more reliable and accurate in such cases than that what a realtor would tell you. Buying in a remote area as we did is quite different than buying in more populated areas and getting to know the area, the history and the very neighbors on whom you will learn to depend is important.

Looking on the internet is fun and will give you some direction but your real work will need to be done on the ground, driving around and asking lots of questions.

Good luck!

[mensamia]

thanks Bryan'sRose and BajaGringo. Does anyone know an expat living in Rio Verde? Any gringos there? It is kind of a long way to come to drive around looking. Was hoping to find someone who would do some legwork for a nominal fee and line up a few inexpensive properties.

[RVGRINGO]

Those looking for property should be aware of the status of 'Ejido property' and know to avoid attempting to buy it or being convinced that 'something can be done'. It can get very complicated and you wouldn't be the first to lose your total investment with no recourse.

[Ajijic Lady]

We downsized in the US, but maintain a small house there, in addition to our home in Ajijic. That's Plan B for us.

[RVGRINGO]

Welcome, Ajijic Lady, to the forum and to Lake Chapala. I'm sure your input will be a valuable addition to the forum.

[BajaGringo]

I have had several conversation with folks in the last couple of months on how they have changed their retirement plans this past year. Some are downsizing others are taking out lump sum disbursements and still others are just putting off retirement. The one thing I found almost all had in common was the idea of cutting expenses and cutting up their credit cards.

I have a very strong sense that we are heading into some uncharted waters in the next couple of years...

[RVGRINGO]

Very true. The Mexican government is predicting the worst economic situation in thirty years for 2010 and the only really good news on the horizon is that they are finally making plans for a new oil refinery to be constructed. I hear that construction on any number of other projects has been halted; both private and government projects and developments, including ports and highways, resorts, etc. It is sad to have workers, who have worked for us in the past, come to the door in the hope that we might have another project for them. Since we are also tightening our belts in the face of inflation and uncertainty, we aren't planning any new projects either. We're not eating out as often, nor are we traveling as much. Fortunately, for most expats in Mexico, we own our homes and the upkeep is inexpensive so we can 'hunker down' so long as the Social Security keeps coming. In the USA, there seems to be some abatement in the slide down the slippery slope which many want to interpret as a 'turnaround'. I fear that it is, at best, the slowing slide to the bottom. Frankly, Mexico seems a better place to be right now.

[BajaGringo]

That is one of the great benefits I see to life in Mexico. If you own your own home you can live a good/comfortable life on relatively little money in comparison to north of the border. I have a cousin who lived with her family in a beautiful California home with a great ocean view in Laguna Beach until a few years ago. The home was left to them by her dad / my uncle and although they owned it free and clear they eventually had to sell it as on teachers paychecks the property taxes and insurance alone was taking most of their take home pay in the end.

Today alone I received four different emails on the subject of moving down here including questions like if it's possible to build a small home in Baja for less than $40,000 USD and live on less than $1000 USD per month.

There is a change coming and folks sense it...