Merida is one of the hottest property markets in Mexico to foreigners looking to purchase a second home here. Americans are the largest group of foreign buyers followed by Canadians. An increasing number of European buyers have purchased over the past few years as well. They are drawn to the wonderful climate, colonial architecture, safety and amenities the city has to offer. There is so much in Merida that having a second home here is the norm. With these buyers being foreigners, they often hire the help of property management companies to help with the overall maintenance on their properties when they can’t be here to do it.
Merida is the largest city in the state of the Yucatan. The Centro Historico area is very popular with the expats and has restaurants, historic houses and a cathedral that was built on the site of the Mayan ruins. There is also the neighborhood of Palacio Grande, which is filled with street vendors and local artists. The nearest beach, Progreso, is on the Gulf of Mexico and about a half hour drive from Merida. This city has something for everyone.
Since 2010 the local market has been climbing out of a hole from the real estate recession. It is a buyer’s market in Merida. You can buy a renovated 19th or early 20th-century house in downtown Merida for competitive prices. Extremely old houses can cost more as well as homes in central locations with larger gardens but they are still relatively low in price compared to housing prices in the United States or other countries. There is a house for everyone in Merida.
Deciding where to buy your vacation home is a huge step. You need to think about the place you visit often. A place that you would love to retire in or relocate to if you were able. If you are looking in a country other than your own, you have to review real estate laws and make sure you have a solid understanding of the country, city, and neighborhood you are ultimately going to purchase in.
If you are considering buying a second home in Merida, hire a property management company here to help you preserve your investment. Begin with a great real estate team like Merida Yucatan Real Estate. Their years of knowledge about Merida and their real estate expertise will help you find the perfect second home for your specific needs and wants. After they find you that dream home, you can meet with their sister company, Merida Property Management to take care of the home for you.
Merida Property Management is a property management company that understands how owning two homes can be difficult in the maintenance sense. Let us take care of your property when you aren’t here to do it yourself. We’ve been there ourselves and we understand the stresses this can cause. We are here to ease that stress and allow you to relax and enjoy your Merida home when you are here.
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