Most of started coming here for a weekend get away once a month and then that evolved into adding a Thursday and Monday and then finally moving here part or full time. When we first bought our lot there was nothing on Sandy Beach other than Playa Bonita and the REEF Bar. Then came the condo boom and housing boom. We all know what happened then with the collapse of the economy in the USA. We are again seeing the start up of new developments like Encantame east of Playa Encanto. This development is being done by 2 very successful developers with a great track record. There is a lot of new development out at Isla del Mar with homes and condos. As I drive around Puerto Peñasco, I am seeing new construction popping up all over along with new businesses, restaurants and bars.
When you move to Mexico be it full or part time.. the one thing you will learn is to have patience. Things do not happen at the pace we so many time want, but owning in Rocky Point is well worth it. Puerto Peñasco is only a 1 hour drive across the Mexican border and a 4 hour total drive from either Tucson or Phoenix.
When it came time for us to decide that we wanted to retire one day in Rocky Point, it then became deciding what was going to be best for us. In our case we had 2 German Shepherds, so condo living was out of the questions. Big dogs need big spaces to run in. In owning previous homes, we had experience with HOA’s and decided we didn’t want to go that route. The plus to owning a condo is that you can come and leave it locked up. It is nice to have the amenities such as pools and restaurants on premise, however if you are one who need your space and your yard, then condo owning is not for you. If you don’t mind having people on all sides of you, then it is for you. In Rocky Point on Sandy Beach you can still buy new condos as well as re-sales in any of the 9 developments as well as private homes. If you want, you can still buy in a non rental development like Puerta Privada. All of the other developments are rentals or you can live there as much as you want. Rentals are very strong right now and with the coming of cruise ships, should continue to be profitable. No matter where you buy, do your homework and find a realtor who is AMPI certified. One thing to remember is bare in mind when you are investing in Mexico, you will need a bank trust which will be held by a bank. The bank trust is very safe, however if you bought more than 70 miles from the coast or border, you would have a fee simple title like the United States and Mexico put this clause in their constitution many years ago. Check with different banks as some will offer you better rates and are easier to work with. The notary will prepare the paperwork for the trust and their fees are regulated, so no need to shop them.
On to home ownership. If you are thinking of buying a lot that is not in a development and is privately owned, make sure you have someone qualified to check out the ownership of the property, in other words, don’t come down with an open check book and start handing out money. The same goes for builders, ask around and make sure the architect/builder is reputable and has a proven track record. Get everything in writing and good builder will do it the proper way. If you are buying a home that is already built and ready to move in, have a home inspection done to make sure everything is OK. Most realtors will send you to someone who knows about construction to protect you. Here again, when you looking at free standing homes, choose a realtor who is AMPI certified. If looking for a home or lot, there are still beach front properties available in Las Conchas, Costa Diamante, Playa Encanto or Playa La Jolla and Cholla Bay. The downside of home ownership if you are not in a development, you will need to make sure your property is secure when you leave.
Which option your choose, sit back and relax your new surroundings.
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