The price of a home in San Miguel de Allende is a big range. In San Miguel de Allende, you can get a little condo for US $100,000, you can get a really nice mansion for US $9 million, and you have everything in between. In Centro, it’s usually around $250,000 or $300,000 to get a place. The average cost of houses in the nicest parts in Centro would be around $500,000.
The houses in San Miguel de Allende are quite expensive. For example, in San Miguel de Allende, you can purchase a 100 square meter (a little less than 1,100 square feet) 2-bedroom condominium in the nice part of the historic Centro for US $300,000. You can build a new one or rebuild in the historical area. If you go to San Antonio, which is 10 minutes from Centro, you can get a 220 square meter (about 2,400 square feet) 3-bedroom home with a garage and 2 ½ baths for US $300,000.
The parts of San Antonio in San Miguel de Allende that are closest to Centro are more desirable than the parts that are further from Centro. Every house in San Miguel de Allende is different. You can have a very humble house next to an extremely expensive house. There are multi-million dollar homes that are big, but if you’re walking down the street, you might see this little façade with a door and a window, and could be a larger property- you will never know from the outside. And that’s kind of how it is- you’ll never know until you explore.
The countryside in San Miguel de Allende is beautiful. There are developments out there- ranch properties, haciendas, etc. It depends on where you want to go. As an example, there’s an off-the-grid adobe house about 10 minutes from Centro. It’s a 3-hectare (about 7 ½ acres) property with a house, a little guesthouse, and a little area for animals. This property costs US $300,000. This property is not even connected to electricity, but they have solar systems and access to water.
It’s very hard to find lots in Centro, depending on what part of Centro you’re in. If you are right in the heart of Centro, you can pay US $1,250- US $2,000 per square meter for land (US 1.25 million to $2 million for a quarter of an acre) on the best parts. If you go to the north of Centro, it’s usually around $759 - $1,000 per square meter (759,000 to $1 million for a quarter of an acre), and you’re usually looking at very small lots; much smaller than a quarter of an acre.
The most expensive and most desirable parts of Centro in San Miguel de Allende are streets that go between the Jardin and Juarez Park. That’s where Rosewood Hotel is. The south side of the Parroquia in San Miguel de Allende is more expensive, especially if it’s between or around the park.
Some people would think, since there are no empty lots in Centro that they like, they’ll just buy a ruin., demolish it, and construct something new. If the existing structure is old, however, they can’t just take it down. The walls are protected, so they work with what’s there. If it’s a new construction, they can take it down, but they would have to go to INAH (Instituto Nacional de Antropología e Historia) and let them determine what can and can’t be done to modify the property. For example, they would present their plan, and INAH would say there cannot be a big room in the front of the house because these walls are old.
In purchasing properties in San Miguel de Allende, you can get an architect, which is the easiest way to determine what INAH will and will not allow. The architect can determine if the property is old or not, although you can tell pretty easily- the old properties have very thick walls. The architects can consult INAH and let you know before you purchase a property so you know what you’re looking at.
(Grand three story home in Centro, San Miguel de Allende, Mexico, pictured.)