In the beaches of Yucatan, you can still find some fixer uppers with one bedroom, one bathroom, with a pool, and a pretty decent-sized yard for US $40,000. You could move into it right away but it’s not going to have all the amenities that you want. The kitchens are going to be basic. The bathrooms are basic. The walls will have minimal electric.
If you want to find something nice, something that has been reworked a little bit, with the electric updated, plumbing, air-conditioning, nice windows and doors, the prices will start between $50,000 to $60,000 for a one bedroom, one bathroom house that is not on the ocean. It would be on the second, third, or fourth row back from the ocean.
On the oceanfront, teardowns can start at around $100,000 and more but you can buy some magnificent houses here for $300,000 and $400,000 that are in a neighborhood similar to my neighborhood in Sarasota, Florida. If you go anywhere here in the Yucatan Riviera, $300,000 is going to buy an updated house, on a single lot, anywhere from 12 to 14 meters wide and 40 to 60 meters deep. That will buy you something in the area of 2,500 to 3,000 square feet with a garage. It would usually have pretty nice landscaping, and be a very good house in structurally good condition. Water, electric, sewage, and everything else is updated on the house. That same house in Florida would cost you about $6 million on the Gulf of Mexico.
In Merida, you can go and find the tiniest, little place. Merida is a city that is hundreds of years old. Many of the properties have been divided and subdivided and subdivided again between families so sometimes you could find these little tiny places that you can buy for $30,000. If you go to the north side of Merida, which is very big and very “happening” right now, you could buy a nice house for about $70,000 to $80,000, not on the water but in the city. There are also houses in Merida that costs millions and that would be the most gorgeous places that you would find in your life.
In Cancun, you could get condos off the beach for $80,000 to $100,000. On the beach and in some adjoining areas on the Riviera Maya, the houses would cost about $1 million. Those would be magnificent homes.
(Very basic three bedroom, two bathroom house on a double lot, three rows back from the ocean; asking price $58,936, Yucatan, Mexico, pictured.)