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Buying property in Cabo San Lucas, Mexico is one of the most reasonable real estate investments in the world. The appeal of this particular place with its breathtaking views, laid back culture and easy living attracts investors from all over the United States, Canada and Europe.
With the rising rate of property prices in other countries, Cabo San Lucas has become a popular choice as an affordable vacation spot for tourists as well as a very good business opportunity for those who want to own a piece of land or home property. Keep reading for the top 5 benefits of owning Los Cabos properties:
Affordable Prices Due To Tax Exemptions
Property taxes in Mexico can be confusing. For U.S. citizens living in Mexico, these taxes can be particularly daunting. Not only do you have to deal with the Foreign Persons Compliance Act (also known as FATCA), but also Mexican real estate taxes. There is, however, some good news for Americans buying property in Mexico: the Mexican Government does allow for exemptions for U.S. citizens who are paying mortgages on their Mexican homes:
If you meet the Mexican regulations (in this case owning and living in your property for at least 24 months out of the last 5 years) you can acquire a tax exemption for up to half a million dollars from your proceeds from the sale of your villa or property.
Location, Location, Location
Cabo San Lucas has many advantages for U.S. visitors, including its warm weather all year and access to one of Mexico’s top tourist areas. Cabo San Lucas is located in the Pacific state of Baja California Sur, which borders the Pacific Ocean and is south of the United States.
Cabo San Lucas is about 1,000 miles from the U.S. West Coast, but surprisingly close to other popular travel destinations. It is about 550 miles north of Mazatlan, Mexico and only 950 miles south of Los Angeles. It’s 1,050 miles southeast of Phoenix and 1,150 miles northeast of Las Vegas. Meaning it is easy to reach for U.S. travelers based on other popular travel destinations in the United States.
Investment Potential in Cabo San Lucas
Investing in Cabo San Lucas land is undoubtedly one of the best ways to make money in real estate. Cabo San Lucas has an excellent track record of profits for real estate investors and Cabo properties are in high demand. So, no matter what time you decide to invest in properties in Cabo San Lucas the rewards are well worth it. As an example, if you had purchased property 15 years ago, you would have already seen 5-6x the returns on it.
Owning Property In Los Cabos Is A Safe Investment
Cabo San Lucas is widely known as one of the most beautiful cities in the world. Moreover, it is not just all about fishing, scuba diving, and enjoying laid back life; houses in Los Cabos sell very well. This makes it among the safest investments you can find in Mexico.
It helps that there are lots of homes for sale in Cabo and different styles of properties to choose from. There are condos, villas, forest-side homes, and beachfront properties – that are suited for a range of budgets, complete with premium amenities.
An Attractive Lifestyle
Cabo San Lucas is considered as one of the best cities to live in Mexico. This city is located on the tip of Baja California and is a major gateway for cruises that tour the Mexican Riviera. Many properties and condos for sale are also available on the coast of Cabo San Lucas and it caters to first class beach resorts, spas, and luxurious properties.
Cabo San Lucas real estate is a good investment for a lot of people. The economy of the city has been improving and there are many great projects going on. Cabo San Lucas has become a tourist hot spot in Mexico that ensures you a lot of return on your investment.
There is little downside to investing in Cabo. So, if you are planning for such an investment, consider getting an experienced realtor in Los Cabos like Oceanside Real Estate to ensure a smooth and happy buying experience.
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