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How to Buy Property in Merida, Mexico 2024 - ARPR MÉXICO

Updated: Jan 8

Steps to buy a house in Merida:

Once you have chosen the property you like and in which you are going to invest you need to know this information when buying a house in Merida. Keep in mind that the transactions when investing in properties are in Mexican pesos, and are done via bank transfers, but do not hesitate to make a cash transaction when making an offer on the house you are interested in.

1.Down payment of the property

The down payment is the amount that you will have to pay as a down payment depending on the type of property and the payment methods; usually in Mexico a base of 20 to 30% of the total value of the property is established, but it may vary depending on the type of mortgage you get or if the property is to be paid in cash. In any case, it is not a bad idea to start thinking about this percentage.

The down payment also means the first step of the whole process, and it is also seen, in most cases, as the guarantee to be able to inhabit the property.

In order to get a loan, it is prudent to have a clean credit history with no debts. This will set the tone for determining the percentage of credit that the financial institution will grant. For this reason, we recommend that you consult the credit bureau (free service), which provides visibility of the status of your credit history, to see if it is appropriate to pay off delinquent balances, as well as to improve your credit history.

2. Extra payments to consider

There are some payments that you should keep in mind before taking the big step. Therefore, we suggest that you set aside 10 to 20% for additional payments such as property tax, notary procedures and any structural or superficial improvements you wish to make to the selected space.

The property tax is a fee that applies to any property or real estate possession, that is to say, houses, apartments, offices, etc. It must be paid by all taxpayers who own one or more of these properties.

It must be paid annually; generally at the beginning of the year.

The total percentage of the Real Estate Acquisition Tax changes depending on the year in this case 2024 and the place where you are, so the rate that the taxpayer has to pay depends on the place and the value of the property; it is paid at the time of the deed and the person responsible is the one who acquires the property.

Summarizing, we can say that the notary procedures include the deed (among which are the taxes of the purchase and sale of the property), the rights derived from the operation and the notary fees, these paid 100% by the buyer.


With the aforementioned criteria on the table: the amount you are going to allocate from your salary to invest in a house in Merida or apartment, as well as the additional expenses when buying a house in Merida.

In Merida you can opt for these types of Real Estate:

  • Pre-Sale Real Estate

  • Real Estate Developments

  • New Properties

  • Colonial Homes

  • Houses in Merida

  • Apartments in Merida

  • Lots or land

This whole process is the result of questioning whether you want a new or used property, whether it is a house or an apartment, or if you prefer to buy it under the pre-sale model, whether it is an architectural project or a property in a real estate development.


If you are a foreigner and want to invest in Properties in Merida; First of all you must keep in mind that foreigners can only acquire properties located outside border zones. You will have to apply for a real estate acquisition permit from the Secretary of Foreign Relations (SRE) of the Mexican Government. The most usual thing is that they will grant it to you. And the process does not usually take long.

Restricted Areas

Territories located less than 100 km from a land border or less than 50 km from a beach receive this qualification. Foreigners are not allowed to purchase this type of territory.

You will be able to buy a house in Merida in such restricted territories if you do it through a trust or fiduciary institution. In these cases, such institution would be the owner of the land or real estate and you could apply for rights to them for a term of 50 years with an opportunity to renew the term.

What are the administrative costs for the purchase?

Buying a house in Merida entails the following costs derived from administrative procedures:

  • Property acquisition tax: 0.18% to 4.65% of the price of the property you buy.

  • Notary fees: 0.075% to 1.125%.

  • Registration fee: 0.02% to 1.82%.

  • Real estate title insurance: 0.5% to 0.7%.

  • Other taxes: 0.5% to 1.00%.

This will cost you between 1.13% and 4.69% of the value of your new home. In Mexico, the seller is responsible for paying the real estate agency fee.

If you have always dreamed of owning a property in the city of the Mayan culture, don't miss this opportunity. As you have seen, the procedures are not too complicated and it is very feasible to invest in a house in Merida from the United States, Spain or any other foreign country.

Property types and tips when buying a property in Merida:


Pre-sale properties have the advantage that the buyer acquires a property prior to or during the construction process and while paying an initial price (Enganche) while preparing to move in when the developer hands over the keys. This means that the price is taken as an opportunity, but we must not forget that it has a couple of Achilles' heels: guaranteed delivery times and not being able to be inhabited immediately.


Buying a new property has the quality that no one has touched it more than its builders. This brings benefits from the perspective that they generally have no flaws, but the drawback is that many of these do not come fully equipped with all its components: kitchen, closets, floors, among others. That is why we suggest that you consider each aspect in your decision.


This type of housing describes itself. It has the advantage that it is easier to negotiate the price taking into account the condition of the property. Damages such as cracks, paint, locks or the last waterproofing are a good reference to counteract the conditions of the sale, since they are additional expenses that you will have to make to live in an optimal space.

House or Apartment

If you are one of those people who prefer to have total privacy you should look for a house, because it has the advantage of not sharing the cost of maintenance, or common areas, of course if the house is not in a housing complex, (Private Residential) Instead the vast majority of developments in apartments are vertical, and require constant maintenance, elevators, lobby, amenities such as pool or social area of the set which becomes an additional expense in maintenance when living in an apartment is concerned.

As well as these differences we find many others to consider when choosing whether I want a two-story house that requires for a full family with a couple of children or an apartment of small dimensions for a single or couple buying their first home. The sky is the limit!


Select the house or property in Merida that suits your daily needs, has sufficient size and number of rooms and if possible is close to your place of work.


If you decided to buy a used home, ask an architect to help you verify that the house is in habitable condition. In the end you could pay a higher cost for not taking this point into account.


If you are going to invest in a property in Merida, make sure you have the communication routes or services you require, such as: education, health, commerce, security, transportation, recreation and groceries. Avoid high-risk areas! This means that the property should not be located in cities with high risk of natural disasters, under high tension lines, fuel deposits, subway pipelines, near ravines or areas at risk of flooding. Invest in safe areas and cities to protect your assets. Find here homes for sale in merida mexico


That a property has deeds is the only way you will have legal certainty of ownership, including banks to contract credits.


Define how much of what you have saved you can use, because banks or housing support institutions only lend on average up to 80% of the value of the property, so you must have that 20% previously to give the down payment, and 5% more to cover the initial costs (appraisal, insurance, deeds, notary, credit opening, etc.).


As a general rule, the seller must have current payments of services, such as: property taxes, electricity, water and gas. You don't want to absorb one more debt!


The great advantage of houses and apartments in PRE-SALE is that there are several forms of payment, plus in many of them houses with solar panels are available, and in most cases you can add or remove additional according to customer needs. This way you will be able to mold your house or apartment to your needs, reducing costs and taking advantage of different payment methods.


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