It is recommended to have saved at least 20 percent of the value of the house or apartment.
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The opinions of the employees of s You are personal.
The health emergency has caused several Mexican families to change their finances and plans. If you wanted to buy a second home before the coronavirus pandemic (COVID-19), we’ll tell you why you should continue with this project. And if you should buy one with the same or a lower price.
Think of it as an investment
According to Leonardo González, a real estate analyst on the Propiedades.com real estate portal, buying a cheaper new home during quarantine could be a casual purchase. As long as it is an alternative place of residence to the one you already have.
“It should be seen as an investment rather than an option for residence,” he said. This can lead to more profit and more liquidity after the corona virus. “If the quarantine continues in several phases, this acquisition will be a safe haven given the global uncertainty,” added González.
On the other hand, the expert suggests buying a house in cities with little congestion. It is also recommended to do this with developers who build houses with high quality control.
In terms of funding, the best suggestion – according to Fernando Soto-Hay, CEO of Tu Hipoteca Fácil – is to apply for the lowest possible amount of mortgage credit.
The specialist also recommends taking out the 15-year loan in pesos and at a fixed rate.
“I recommend saving at least 20 percent of the value of the house or apartment,” he said.
Areas where you can buy
If you have already convinced yourself to buy affordable housing, we will share five places in Mexico with you. In them you can find one in less than 1,000,000 pesos.
According to the “Values” section of the Propiedades.com portal, in Mineral de la Reforma – municipality of the state of Hidalgo – houses are for sale with an average price of 836,177 pesos.
Another option is Tonalá in the state of Jalisco. There the houses for sale have an average price of 855,422 pesos.
In northwest Mexico, in Apodaca, Nuevo León, you can find homes for sale for 810,000 pesos.
Another option is Matamoros, Tamaulipas. Here are houses for sale with an average price of 818,742 pesos.
If your budget is higher and you like hot weather, Mexicali, Baja California is the option. The houses for sale have an average price of 1.03 million pesos.