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After the Sale
1.- How much are annual real estate (property) taxes?
2.- When are real estate (property) tasxes due, and how do I pay them?
3.- Do I have to build within a certain period?
4.- How much does it cost to build on the Mexican Caribbean?
1.- How much are annual real estate (property) taxes ?
Annual real estate taxes in Mexico's Yucatan Peninsula are really quite remarkable. For an average water front lot the real estate taxes will be less than $200 USD per year, and depending on location, may be less than $50 USD per year..
2.- When are real estate (property) taxes due, and how do I pay them ?
Tax notices are not sent out in Mexico. At your request Mexican attorney can arrange to pick up your tax notice each year pay the tax for you and advise you the amount to remind and take care of the payment on your behalf.
3.- Do I have to build within certain period ?
No. Unlike many places where you are required to build within a certain period of time, in Mexico, you may hold your land for generations if so desired.
4.- How much does it cost to build in the Mexican Caribbean ?
Our customers have found that the average cost of building is between $55 and $75 USD per square foot. At this price, you can expect to have the following amenities: Solid concrete construction footed into the bedrock, marble floors, 10 foot ceilings, marble kitchens and baths, and standard fixtures.
The reason that home construction is so inexpensive here compared to the U.S. is that labor cost, which is usually 50% of a homes price, is only 82 cents per hour here in the Yucatan Peninsula. Additionally, beautiful Mexican marble is available at only a fraction of the price of high priced flooring in the U.S. Also, with the mild climate and emphasis on outdoor living, expensive insulated windows and other insulation necessary in more northern climates is not required in the Yucatan Peninsula.
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E-mail: info@bacalarviews.com |
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FAQ's Sections