Source: Mexico News Daily —
Meet Joseph W. Lown, a top Realtor® in San Miguel de Allende. With a deep connection to Mexico and a love for small cities, Joseph made a life for himself in San Miguel after moving there in 2009.
As a seasoned real estate professional and a licensed Mexican attorney, Joseph offers unparalleled expertise and insight into the local market.
What are the top three things that make Mexico a unique and desirable location for real estate buyers from all around the world, and how do they impact the local markets?
I think it’s all about the three C’s: Climate, Culture, and Carrying costs.
First off, let’s talk about the climate. As a Texan myself, I had no concept of the importance of good year round weather until I moved to Mexico. There are so many incredible places here with near-perfect climates like Mexico City, Cuernavaca, Tepoztlán, Ajijic, and of course San Miguel de Allende. And let me tell you, when you’re dealing with the extreme heat in Texas, it’s a game-changer to have a place where you can actually enjoy being outside. That’s something that Mexico has to offer – a wonderful climate for everyone, whether you’re trying to escape the harsh winters up north (the snowbirds) or the sweltering summers down south (the sweat birds).
Now, let’s move on to culture. The expat communities in places like Alamos, Puerto Vallarta, Cuernavaca, Tepoztlán, San Miguel, and Ajijic have been cultivated over decades, creating a unique blend of local and international cultures with a great sense of camaraderie between them. These communities have cultivated a deep appreciation for the arts, with strong music and theatrical scenes, as well as their vibrant painting culture and culinary scene.
Finally, let’s talk about carrying costs. Property taxes in Texas are outrageous, but in Mexico, it’s a whole different story. In San Miguel, for example, property taxes are roughly $240 USD for every $100,000 USD in evaluation. That’s a far cry from the nearly $3,000 USD you’d pay for the same value property in Texas, where the property tax rate is 3% of the appraised value which is 95% of the market value! That’s a huge difference and can make a big impact on your budget.
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