Why Buy a House in Chelem, Mexico?

Introduction

We would like to preface this article by suggesting that anyone that has not yet been to Chelem visit, before considering a purchase. It's worth while renting here both in the winter and summer to see if you could get used to the heat and slower pace of life, long-term, not just for a quick vacation. While Chelem is a wonderful place, it isn't for everyone.

1. Price Of Houses In Chelem

In order to properly answer this question, let's break the pricing into 2 separate categories. The first category being Chelem Beachfront Homes and the second being Chelem homes (not Beachfront).

Chelem Beachfront Homes Price

You are typically looking at a starting price of approximately USD$450,000 for a freehold single family house on the beach and Approximately USD$350,000 for a condo beach property in Chelem, Mexico.

Of course this is just a starting point and larger homes or homes with larger lots can be seen all the way to USD$1,000,000 or more. These prices are also affected by the cost of borrowing money in Canada and the US. The price range floor will fall during a buyers market and rise during a sellers market, as with any real estate market.

It's important to look at how close the water is to the structure and whether you will have to do any maintenance work, shoring or preventative work and compare this to the price of the home.

Chelem homes (not Beachfront) Price

You can find non-beachfront Chelem homes for as low as USD$115,000. Typically, a freehold single family home in this range will need quite a bit of repair for it to be up to your standards. But if you have the budget, the work you put into it will leave you with a quick appreciation in property value. At a far enough distance from the beach, you can sometimes find condos for just a little more than this price that are in good condition.

2. Appreciation of property in Chelem

Chelem is not a secret. It has a a great expat community, buying up the local property and quickly raising the avg home sale price. Not only this, the rapid influx of money and taxes to the area has given signals to the municipal government that more and more people and money are coming to Chelem. Local authorities are using this tax money to start to build the infrastructure of and to Chelem. Buying property in Chelem is a quick way to see your money grow, as you can buy a house in Chelem, do nothing to it but wait for them to pave the street to see great appreciation.

If you buy a fixer-upper or make some substantial renovations or additions to the home to bring it up to Canadian or American standards, people are much more likely to pay top dollar for the home. Canada and the US are plagued by home-flippers to the point that it's very hard to find a home in disrepair in those countries. In Chelem, you won't have a hard time creating value with a property. Just remember; you want to wait 3 years before selling to avoid a capital gains tax.

3. Big-Box Stores And Shopping Near Chelem

Chelem is one of the top Expat communities in Mexico due to it having a Walmart, Costco, Sams Club and many malls in the neighboring city of Merida Yucatan, only 35 minutes away.

4. Expat community in and around Chelem

Community is important, and you really start to realize this after being in Mexico for several months. While the Yucatecan people are amazing, you will also want to spend time with people that understand you and have similar habits and customs.

Conclusion

In conclusion we're of the opinion that Chelem has everything you would need as Home-Buyer leaving their home country and not wanting to compromise too much on the luxuries and habits that we've developed up north. There are many destinations in latin america that have more beautiful and affordable beachfront property, but when you can't find ingredients to make your favorite dish and don't have a community to share that dish with, it's just not the same. Chelem is the perfect place to call home.