| roadloverstm The online magazine for people who love to travel Click here |
| Click here for EUROPE CENTRAL AMERICA ASIA NORTH AMERICA SOUTH AMERICA AFRICA AUSTRALIA OTHER |
| Click here for EUROPE CENTRAL AMERICA San Miguel San Miguel LAND ASIA NORTH AMERICA SOUTH AMERICA AFRICA AUSTRALIA OTHER |
| San Miguel de Allende Buying Land In Mexico DVD |
| roadloverstm The online magazine for people who love to travel Click here |
 |
| Mexico San Miguel de Allende |
| NORTH |
| Road to Queretaro Direction to Mexico City |
| Road to Dolores Hidalgo |
| Road to the west Bus Station |
| Mario showed us the neighborhoods in this NW area Metal working in Guadalupe |
| Instituto Allende |
| Frailes (Not a lot of vacant land is left) |
| Tuesday Market |
| Los Balcones |
| The Golden Corridor |
| Reservoir and the Presa (Dam) |
| Nothing on this page and on every page througout this web site should be taken as truth. Everything could be a mistake. Check everything yourself. Do not use this informaton to make decisions. You are an independent agent. Question authority. Don't believe everything that you hear. (By the way, did you hear that a famous singer is building a large house near Instituto Allende?) |
| Math in Mexico 510 square meters (about 5000 square feet, so about 50 by 100 or 65 by 80 feet) Assume $80 per square meter Cost of land: $40,800 Notary 400 Permit 700 Dinner with EA 75 TOTAL $41,975 Call it $42,000 Cost of gathering information 5,280 (GI) Annual costs for 3 years 1,200 (AC) Lost interest 9,600 (LI) ----------------------------------- Cost of land 52,800 6% fee on sale 10,280 and other fees -------------------------------------- Break even 63,080 So the target is $64,000 64,000 divided by 510 sq. meters = about $126 per Sq. Meter Call it $130 We need an increase of $50 per s.m. 50/80 = increase 63% over 3 years. Is that wishful thinking? |
| Annual costs (AC) -------------------------- Tax 300 EA 100 ------------------------- Each year 400 Three years x 3 -------------------------- TOTAL 1,200 AC |
| Cost of Gathering iNFORMATION (GI) Visit 4 nights x $100 400 Fly at $500 each x2 1,000 Transport 2 trips x $90 180 Food 4 days $45 per couple 180 -------------------------------------------- Total for one visit 1,760 see, buy, sell x 3 --------------------------------------------- TOTAL 5,280 GI |
| Cost of lost interest (LI) What would $0,000 earn if left in a stock fund? 8 percent per year? 40,000 x 1.08 x 3 years = 9600 (LI) |
| In short, $42,000 can turn into $66,000, an increase of about 65%. That's about 20% per year. Nice return! Now I see why people invest in Mexico. The lure is the double digit growth. The question is: can the growth in the price of land continue? |
|
Why are so many people interested in buying homes in San Miguel? Perhaps there are other businesses buying here, too. This article is from the following web page http://www.flyertalk.com/forum/ showthread.php?t=370831&page=8 Orient Express buys SMA hotel Orient-Express Hotels this week acquired its 50th hotel - Casa de Sierra Nevada, a 33-room boutique hotel in the colonial town of San Miguel de Allende in Mexico. Simon Sherwood, President of the company said, "Casa de Sierra Nevada is a significant acquisition for Orient-Express, being the 50th property in our unique portfolio. It complements Maroma Resort and Spa, our property on the Riviera Maya and is our second hotel in Mexico," Opened in 1952, Casa de Sierra Nevada is housed in nine Spanish colonial buildings –or casas - dating from the 16th to 18th century including the Casa del Parque, a fort in the 17th century and later a customs house for the silver trade; and Casa Principal, the former residence of San Miguel de Allende's Archbishop in 1580 and an official historical landmark. The casas also have cloistered outdoor courtyards with fountains, small gardens and al fresco corridors. Guest rooms and suites capture the rich history of the area and are decorated with hand painted tiles, bovedas (curved/domed ceilings), polished copper sinks, and original paintings by local artists. Orient-Express Hotels will manage the property, in which previous guests have included Salma Hayek, Johnny Depp, Antonio Banderas, Melanie Griffith and the late Anthony Quinn. Transport options include flying into either Mexico City (a three and a half hour drive away) or the Guanajuato-Leon Airport (one and a half hours away). British Airways and American Airlines fly to both Mexico City and Guanajuato-Leon airports from the UK, while Continental and United fly to Mexico City. Orient-Express intends to invest US$5 million in renovations and enhancements to the property, including the development of 20 new suites, a full service spa and a new pool and garden area on an undeveloped parcel of land. Casa de Sierra Nevada will continue to operate during renovation and refurbishment of rooms. |