Buy Your Next House in Mexico

If you live in Southern California like me, you shake your head at today's housing prices and wonder how any average wage earner will ever afford a home. More Americans are looking South of the Border and investing in real estate in Mexico. Even Donald Trump and his company are building luxury condos in Baja. An online article on MSN even showed how a retired American couple could boost their quality of living by up to 60% simply by moving to Mexico.

I recently spoke with Robb Rios of El Dorado Ranch, a development offering an array of choices in San Felipe, Baja to people wanting to make their move to Mexico. So why has real estate in Mexico become so attractive to Americans? He said enjoying an improved quality of life is a big reason.

"You can own a home near the beach or next to a golf course for a price you can't touch in California," said Robb. He said there are also many legal safeguards due to changes in laws and title insurance to protect buyers.

"Since the early '90s, there have been many changes made in the laws. You can own right up to the shoreline," he said. "You can also purchase your home and leave it as an inheritance for your children. You have the property now held in trust and fully insured. A lot of misconceptions about Mexico and are under the impression you can't own or there are 99 year leases which is a myth."

El Dorado Ranch offers buyers choices for resort property usable for vacations as well as year 'round homes.

"Most of our clients buy within the planned communities," Robb told me. "We have a variety of places or they can build on a lot. The master plan is huge - 35,000 acres - larger than San Francisco. It gives choices for custom building, or existing homes."

Robb also said the homes are well crafted using granite counters, solid core doors, and double pane windows.

The typical cost for a home is about $100 per sq ft to $110 per sq ft. Hmm, my home in Pasadena, CA is about 2,300 sq feet and it's worth more than $750,000. So that means . . . the prices in Mexico are attractive.

Robb was quick to point out they're making a positive impact on the local economy of San Felipe and developing in an "environmentally friendly" manner. The web site states El Dorado Ranch "is the largest solar community in North America."

"We create major jobs and we've got a scholarship program for kids," he said. "We're creating a whole quality of life for the community."

Robb says they have buyers from beyond the United States and Canada: Ireland, Great Britain, other European countries and people from across Asia. He said Mexico is becoming the number one most attractive country in the world for retirees.