Retiring in Mexico: the 3 costs nobody mentions
The listing price is only the start. Here is what a US$300,000 condo in the Riviera Maya really costs, with the numbers our advisors use. No sign-up needed to read them.
Since 2014 · SEDETUS-certified · English, French & Spanish
What the listing price leaves out
Every example uses the same home: a US$300,000 condo of 100 m² (about 1,075 sq ft). Swap in your own numbers; the percentages hold.
Closing costs
6–10%of the price, paid once
Notary fees, acquisition tax, appraisal and setting up the bank trust are paid at closing, on top of the price. Most listings never mention them.
On US$300,000: US$18,000 to US$30,000.
The bank trust fee
US$500–600every year
Foreigners buying near the coast hold the property through a fideicomiso, a bank trust. It is safe and fully legal, but the bank charges a fee every year for as long as you own the home.
HOA & maintenance
US$1–2per m² per month
Condo fees cover the pool, security, gardens and common areas. They grow with the size of the unit and vary by building.
What retirees ask us first
Can I live there full time?
Visitors can usually stay up to 180 days per entry, at the immigration officer's discretion. To stay longer, retirees apply for temporary or permanent residency at a Mexican consulate in Canada, showing steady income or savings. The thresholds are tied to Mexico's minimum wage and change every January.
Can I own a home near the beach?
Yes. Since 1993 the Foreign Investment Law lets foreigners buy in the coastal zone through a bank trust: a 50-year renewable term, and you can sell, rent, mortgage or leave the property to your heirs.
What about healthcare?
Cancún and Playa del Carmen have private hospitals with English-speaking doctors. Most of our retired clients combine international health insurance with paying out of pocket for routine visits.
Where should I look?
Playa del Carmen if you want to walk everywhere, Cancún for the airport with direct flights to Canada and the largest hospitals, Tulum for a quieter, nature-first pace.
The Riviera Maya buyer's guide
Everything on this page in detail, plus the buying process step by step and the questions every foreign buyer asks.
- 01Discovering the Riviera Maya
- 02Who represents you
- 03Property and investment types
- 04Buying process
- 05Buying as a foreigner
- 06Total costs
- 07After the purchase
- 08Frequently asked questions
Send me the guide
Unlock it instantly and download the PDF.
Questions Canadians ask
Will I lose my provincial health coverage?
It depends on your province: most require you to be physically present for a minimum part of the year, often around six months. Check your province's rules before planning a winter schedule.
Can I rent the condo out while I'm in Canada?
Yes, and many owners do, usually through a property manager. Rental income is taxed in Mexico, and a foreign rental property may need to be reported to the CRA (Form T1135 when its cost is over C$100,000). Talk to a cross-border tax advisor before you buy.
What happens when I sell?
Mexico's capital gains tax can reach 30% of the profit, with deductions worth reviewing with a tax advisor. Plan for the agency commission too.
Is the bank trust safe?
Yes. A Mexican bank holds the property as trustee and you are the beneficiary, with every right to use, rent, sell or bequeath it. The property cannot be seized, and one trust is opened per property.
Do I have to talk to a salesperson?
No. The guide is free and the numbers on this page are yours to keep. If you want to talk, we answer in English, French or Spanish.
- 10+
- years in the Riviera Maya
- 4.9★
- Google rating, 50+ reviews
- +200
- properties in portfolio
- EN · FR · ES
- certified advisors
Plan your move with the real numbers
Get the free guide now, and talk to an advisor only when you're ready.