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FAQ's About Living in Mexico & Purchasing Baja Real Estate |
If you're planning to retire in Mexico or searching for the ultimate vacation home, you may have questions regarding the Monte Bello and Rancho Cerro developments, the utilities in Baja and requirements for buying real estate in Mexico. The FAQ's to the right cover everything, from the water situation to financing your home, to help you prepare for your eventual move to the paradise of Baja. |
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The Monte Bello and Rancho Cerro Developments & properties in Baja |
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Q 1. As developers, what are your goals? Financing Your Own Mexican Property
Q 28. What does a fideicomiso (bank trust) cost and how long does it take before I own the property? A 1. We have many goals, but the four most important to us are:
A 2. Los Barriles water is legendary! History tells of large ships that used to pull into harbor to fill up their barrels with fresh, abundant water; hence the name Los Barriles, The Barrels. A 3. Water lines from the municipal well service all of Monte Bello and Rancho Cerro. The water comes from rains and springs in the high Sierra de La Laguna Mountains to the west of Los Barriles and is filtered through the granite rocks, sandy arroyos and the municipal system before it is pumped into your home. This water tastes clean and pure. A 4. The most current fee is $1,300usd. For this fee you receive a contract with the local municipal water company and a connection from the main line to the edge of your property. This includes a water meter and a spigot. You are then responsible to pay a monthly fee determined by your water usage. A 5. We built the roads using a front-end loader instead of the usual bulldozer method. This eliminated the 'side castings' of dirt being pushed over the edges of the roads and also allowed us to fill in dips by scooping the dirt and putting it back into the road. It makes for cleaner, smoother roads. It costs more and took longer, but we felt it was worth it. All roads in Monte Bello and Rancho Cerro are now complete. A 6. Yes, we do have an Association, and you automatically become a member when you purchase a lot in Monte Bello or Rancho Cerro. If you would like to read our bylaws, please click here. A 7. We're creating a very special environment for you and your family in which to build your home and live in Mexico. The covenants and restrictions are for everyone's protection - you, your neighbor's and the surrounding landscape. We understand that your property investment is important to you and that makes it important to us. A 8. Each property owner automatically becomes a member of the Monte Bello or Rancho Cerro Homeowner's Association and is required to pay a monthly assessment that will become part of the budget directed toward green space and general maintenance of the common areas. The development will be professionally maintained, providing common area plant maintenance, road repairs and security for all lot owners. A 9. All of our power lines are underground and are hurricane protected. Again, it's more costly, but worth the extra expense. A 10. A service contract with the power company currently costs $50usd. Once you sign a contract with CFE, you have the correct connection devices and have built the power monument that houses the meter (ask your contractor about these). The power company will come to make the connection usually within one week of the request. A 11. All utilities at both Monte Bello and Rancho Cerro have been completed.. A 12. Last year, the annual property taxes tripled. Today, a typical 2,000 sq. ft. house on a 1/2 acre lot pays $132usd per year. A 13. Garbage and trash removal is provided by the town. The Monte Bello and Rancho Cerro Homeowner's Associations may wish to select a common collection point that is convenient for both the property owners and the free town pick-up service. A 14. We have tried to make most of the lots close to 2,000 square meters because one of our goals is to develop a low-density community. 1/2 acre lots give everyone good elbow room and plenty of privacy. A 15. There's no law prohibiting you from buying more than 2,000m2, and many people purchase larger tracts of land. It just means that in the fideicomiso process, you have to apply to an additional office of the government, and they'll ask you to invest a certain amount of money into your lot and improvements. A 16. These setbacks minimize the possibility of blocking your neighbor's views and also leave sensitive environmental areas untouched. A 17. Recently, Semanart, the Mexican environmental protection agency, enacted a law that says you, as a property owner, cannot clear more than 40% of the vegetation off your lot, and when you do clear this amount, you are required to transplant each of the plant species out of harm's way. Your driveway, parking areas and building footprint are included in this 40% regulation. We, as developers, have a responsibility to obey the laws of this country and do all we can to promote their concepts to the property owners in Monte Bello and Rancho Cerro and to our community of Los Barriles. A 18. Monte Bello and Rancho Cerro look out over one of the best sandy beaches in the East Cape. Windsurfing, kiteboarding, kayaking, swimming and fishing are some of the reasons why we live here. Jacques Cousteau called the Sea of Cortez the most prolific and biologically diverse body of water on the planet. It's about a 10-minute walk to all of these amenities. A 19. Yes, the warm waters of the Sea of Cortez create favorable fishing conditions most of the year. Generally, the peak season for marlin is mid-October through December. Dorado (mahi-mahi), yellow fin tuna and wahoo, to name a few, run most of the year. A 20. Our lovely peninsula of Baja is home to a wide range of plant life that is unique, and many species that live here cannot be found anywhere else on earth. It's a rich environment that has sustained plant life for centuries. A 21. Yes, most cacti are relatively easy to transplant. You'll be required to transplant the cardon and other cacti and plant species from the 40% footprint of your cleared areas as these are protected by Mexican law. You can create a nursery away from the impacted building site area and move them again when finished to create a natural looking landscape. A 22. The agreement we, as developers, made with the road, water and power companies was this: we're required to dedicate 13 meters (42-1/2') of roadway BUT, so we didn't have to clear all those beautiful trees, cacti and rocks out of the roadway, they agreed to a 10' wide island down the middle of the roads. In exchange, we agreed that no cars will be allowed to park in the one-way access roads. You should provide for adequate space to park on your own property. A 23. There are many local contractors available for building your casa. Most of them are experienced, reliable and invested in our community. We can supply you with a list upon request. A 24. Building costs range from $100/square foot to $150/ square foot, depending upon your finish preferences. You can pay in either U.S. dollars or pesos, but no U.S. checks. A 25. Again, it depends upon the extent of detail, but on the average, one year or longer. A 26. There are many fine professionals available to assist you in designing your home in Monte Bello and Rancho Cerro. Design and construction management services are also available for those lot owners who can't be present during the building process. We can give you a comprehensive list. A 27. There is technology in Los Barriles that will enable your Homeowner's Association to establish a satellite system or connect with Telmex for telephone and Internet services. A 28. The fees connected with property ownership typically cost $5,000usd, and the process may take 6-8 weeks from start to finish. A 29. Yes, you may choose the bank that will hold your trust, but many notaries prefer one bank to another because they do frequent business with them. The banks vary slightly on their annual fees to administrate your trust. The trust agreement will state their terms and whether there is a cost of living increase after so many years. A 30. There are several agencies loaning for construction, but the purchase of the property is up to you. A 31. You will need to have a FM3 to open a bank account but only your fideicomiso papers to build a house. It takes a minimum of three days to file and receive an FM3 and you will need a valid passport, Mexican visa and bank statements from a U.S. bank. A 32. Title insurance is an agreement of indemnity, which protects the property rights transmitted to a new property owner, and as a consequence, indemnifies against damage or loss arising from a defect in title to real property. An average cost would be $1,750usd. A 33. Yes, title insurance is available for your property. We can help you make the contact. A 34. For a home valued at $200,000usd, the annual cost could run between $125 and $175usd per year depending upon the coverage you choose. There are any numbers of private Mexican companies who can give you a quote on your completed casa, and there is one agency located in Los Barriles. A 35. No. Feel free to contact any of the local realtors in Los Barriles or contact us directly. |
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