A new residential community project reached a milestone last month as San Besitos Residential entered phase 3 of construction continuing to offer their popular new construction homes at affordable prices located in the heart of the business district just off the main BLVD near Sam’s Club.
Fourty-three (43) homes are planned in total at San Besitos and over 50% of the project is already sold or under contract. The project was well received with phases 1 and 2 selling out in just under six months most likely due to the community’s turn-key approach to construction that includes everything required to be “move-in” ready.
The new homeowners at San Besitos have access to a private common area that is complete with a large pool, two outdoor kitchens for family parties, gardens and more. The owner’s area requires an optional monthly, “community-use fee,” it’s not a mandatory “HOA” fee and here is the difference. A community use fee is an optional fee paid to use the owner’s private pool area. The cost is $50 a month and access given by an electronic keyless entry code that you enter at the door to gain access. If you don’t need access to the owner’s area then you can choose not to pay the fee and there is no penalty for doing so.
Homes come complete with appliances to include stove, refrigerator, fan over stove, washer and dryer, garbage disposal, cistern, pump, propane tank, mini-splits with heat pumps, mirrors in bathrooms, towel bars/accessories, garage door and opener, hanging light fixtures, exterior coach lights, door stops and more. Every home has a one car garage with a fenced in front and backyard. Homes are connected to city water and sewer. The entire community has underground electric, and roads are paved with calichi.
A common question that gets asked is, “Is it possible to own property in Mexico and how does that work?” The great news is YES as a foreigner traveling or living in Mexico you can purchase property through what is known as a bank-trust or Fideicomiso in Spanish. A bank trust is an agreement where the bank acts as a trustee and manages the ownership of the land along with any improvements and names the purchaser or anybody you choose to be as the beneficiary.
Bank trusts are written for up to 50 years and they are renewable for any number of additional 50-year periods. If you assume an existing bank trust, make sure that there are enough years left in the trust that is satisfactory to you. There is annual fee for a bank trust which varies depending on the bank from $400-$800.
For more information about San Besitos or any property for sale here in Rocky Point please contact any AMPI-affiliated Real Estate Advisor or email firstname.lastname@example.org.
About the author: Joseph Sanchez is president of Rocky Point Home Builders a design/build contractor specializing in custom home design, construction and engineered renovations and a real estate agent with RE/MAX Legacy with a focus on selling land development. He resides here in Puerto Peñasco with his wife and three children and is originally from Chicago.