A popular residential community project reached a milestone last month as San Besitos Residential started phase 5 of construction now offering larger three- and two-bedroom floorplans with large pool-sized lots from the low $100s.
43 homes were originally planned in four phases of construction at San Besitos but due to demand a 5th and final phase was added bringing the total number of homes to 51.
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, 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 parking for two or three more in tandem 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 you can visit www.sanbesitos.com or email rockypointrealestate911@gmail.com.
About the author: Joseph Sanchez is a real estate agent with RE/MAX Legacy and president of Rocky Point Home Builders a design/build contractor specializing in custom home design, construction and engineered renovations. He resides here in Puerto Peñasco with his wife and three children and is originally from Chicago.