What things should I consider when buying a house in Merida?


June 24, 2020

Do you know why Merida has become one of the favorite cities for both foreign and Mexican residents?

Thanks to the privileged location, climate and quality of life, Merida and the State of Yucatan are registering steady growth in real estate investment. Architecture and cultural activities are some of the things that have helped Merida to become one of the best cities to live in Mexico.

One of the 5 reasons to invest in Merida that have great impact -especially in terms of foreign investment- is the presence of expatriates living in the city. It is increasingly common for people from the United States, Canada and Europe to decide to stay in Merida.

Mexicans from other cities such as Mexico City, Monterrey and Guadalajara -to name a few- have also fallen in love with Merida. The affordability of living in the city- in comparison with Mexico City and Monterrey- allows more people to acquire luxurious properties in areas with high surplus value, something that could be impossible to do in other cities.

That is why if you are thinking about investing in real estate, Merida is the place where you should invest your money.

Below is everything you need to know before buying a property in Merida, Yucatan.

What things should I consider when buying a house in Merida?

Surely you already know that one of the things that you should pay attention to before buying a property is the area where it is located.

As mentioned in ‘What is the investment that generates higher surplus value?’, it is essential to look carefully at the property location in order to make higher returns and a successful investment.

Property value increases over time thanks to surplus value of the area where its located, so if you buy a luxury house or apartment in an area with low surplus value, your investment will not generate returns and on the contrary, it could make you lose money.

What things should I consider when buying a house in Merida?
Amenities that promote healthy lifestyle -such as gymnasium, pool or event hall- are bonus that reinforce your investment. In the image, you can see the grill terrace area of Kinish Residential development.

The north is the area with the highest capital gain in Mérida

Luxury shopping malls, specialty hospitals, top-level schools, as well as offices, entertainment centers and exclusive residential areas, have made the north of the city the place with the highest capital gain in Merida.

This does not mean that there are no more options to enjoy throughout the city. Downtown Merida is another area that attracts investors. However, one of the reasons why people invest in the north is the possibility to acquire pre-sale properties, which helps them to guarantee their investment since they are buying the property at a very low price with but its value will be higher if they resell it. In addition, there is the possibility of make return on investment by renting the property.

And mentioned above, the most exclusive establishments are in the north of Merida.

The Harbor, La Isla, Altabrisa, Galerías, Uptown and City Center are some of the shopping malls in the area that feature cinemas, restaurants and clothing stores.

The north is also a very important residential area for those who wish to live near their jobs or schools.

Educational institutions such as Modelo University, Marist University of Merida, Anahuac Mayab University, and Autonomous University of Yucatan are located in the north, and for that reason, students -especially international exchange students- are looking for houses in the north of Merida.

More families move to Merida in search of better quality of life. That is why real estate developers are not only building houses but also creating possibilities for their inhabitants to enjoy green areas, parks, courts, gyms and other amenities in order to live a healthy lifestyle.

Security and amenities reinforce your investment

Merida is one of the safest cities in the Mexico -especially the north of the city. However, private security is a must for residents of the area.

Knowing there is private security in a real estate development, allows residents to live a quieter and more relaxed life. That is why future residents looking for properties to buy or rent prefer safe areas with this service.

If you are thinking about investing in Merida, it is very important that you consider private security. Although the city is listed as one of the safest in the country, acquiring a property with private security is a way to secure your investment, whether it's a house, lot or an apartment. 

When listing your rental property, you can use this feature to reach more potential guests, especially if you want to rent your property to people from the center and north of Mexico, places where private security is a common service.

Banner of real estate developments in Merida.

The same applies to amenities.

Amenities like gyms, swimming pools and even event rooms can guarantee your investment, especially if they promote a healthy lifestyle and improvement in the quality of life.

Green areas, pet-friendly parks or soccer and paddle courts, are some amenities that can significantly improve quality of life and boost your investment income: a property with a pool or luxury materials, located in an area with high surplus value, will allow residents to live in a safe and free environment. Rental costs of such property will be higher than those of a property located in a different area. And in the future, you can sell your property at a higher price.

Quality materials lower maintenance costs

If you plan to acquire a rental property in Merida, you probably already have an idea of rental price, but did you know that you have to deduct maintenance expenses for your property? Yes, that is why buying an old house may be more expensive than it seems, especially if you have to renovate the house and replace electrical wiring or plumbing pipes.

Merida is a city with a warm and humid weather, so it is common to install air conditioners. However, not all houses have the required facilities, and that is when buying a cooling system becomes a problem: additional costs of facilities or accessories are not considered.

It is very important that you choose carefully the materials of your property: Quality, durability and facilities of your property will help you ensure your peace of mind and avoid surprises when you furnish your home or rent it.

Something similar applies to investment lots and residential lots: you must verify that the area you choose has basic services like electricity, water and private security.

Quality materials are long-term investment. Don't be afraid to ask about them.

What things should I consider when buying a house in Merida?
The proximity to beaches and archaeological sites -such as Chichen Itza and Uxmal- is one of the reasons why Merida receives influx of tourists.

Merida is more than residential areas

You do not need to buy a house or an apartment in Merida to invest in real estate.

Residential lots have gradually become favorites among young people who are starting to invest, while industrial lots are important assets for companies that want to guarantee their growth without issues of space or distribution.

On the other hand, companies that are engaged in marketing with other companies - also known as business to business or B2B - are also investing in industrial lots to create warehouses, or storage, production and distribution spaces for other companies.

Between January and May, exports to United States, Asia and Europe grew by 50. 3 percent. Food industry products and the textile industry products, departed from the Port of Progreso, located about 20 minutes from Merida.

Thus, people who want to invest in real estate without buying a house or an apartment, as well as companies that want to reduce production or distribution costs, find great opportunities in residential lots and industrial lots: low pre-sale costs and higher return on investment.

What things should I consider when buying a house in Merida?
In Parque Tixpehual you will find the ideal industrial lot to consolidate your projects. It features interior street, private security and public lighting.

Advantages of investing in Merida

Investing in Merida is an opportunity to grow your money.

In the first quarter of 2019 alone, jobs grew by 105% compared to last year. In addition, in the first half of 2019, foreign direct investment was 89.9 million dollars.

Tourism in Mérida has grown by 41%, especially during summer holiday period, positioning the city as one of the most visited cities in Mexico.

Yucatan won the 2019 Excelencias Award in Madrid, for the actions taken to make Yucatan one of the most innovative and attractive places in Mexico.

The real estate boom in Merida is the result of growth projections. That is why we are not surprised when foreigners who acquire properties in Merida fall in love with the city. The proximity to the beach, archaeological sites, cenotes, traditions and culture have caught the eye of people all over the world, earning it the title of American Capital of Culture.

Merida has much to offer. The great quality of life in the city attracts people who eventually become future residents or investors.

Investing in Merida is an opportunity that you should not miss if you want to increase your savings or acquire properties at lower prices with higher returns.

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