When you think about your dream home, do you picture living in a luxurious high rise with incredible views of the ocean? This dream is a reality for many of the residents in Cabo. People in this seaside Mexican town have access to a lot of beautiful condos that provide a convenient and comfortable lifestyle.
Our helpful guide will answer all the things you want to know about having a condo in Cabo. You can discover more about the Cabo culture and find detailed information on the Cabo real estate market.
WHAT SHOULD YOU KNOW ABOUT CABO?
Of course you probably already know a lot about the area if you live there or visit frequently, but there are still plenty of fun facts to learn about the region.
- Cabo is one of the safest cities in the entire Baja region, with minimal levels of violent crime.
- You can reach Cabo by plane in under two and a half hours, and most tickets are less than $300.
- The most frequently sold type of property in Cabo is condos, followed by single-family homes and empty lots.
- Properties in Cabo vary wildly in price. You can find things for under $50,000 USD or condos that cost millions of dollars.
- On average, the Cabo temperature is about 78 degrees Fahrenheit. Depending on the season, it may get as high as 95 or as low as 60 degrees.
- Cabo is a truly multinational area. The majority of residents are from the United States or Mexico, but there are also plenty of people from Europe and Asia who have properties in Cabo.
- The average Cabo condo can be anywhere between 1400 and 400 square feet.
- Cabo has only been a resort area since the late 70s, so there is still a lot of undeveloped land in the region.
HOW DO YOU DECIDE BETWEEN SAN LUCAS AND SAN JOSE?
When you first start thinking about settling down in Cabo, one of the first things you need to ask yourself is, “Would I rather live in San Lucas or San Jose?” Both of these towns are vibrant cities situated right next to each other along the tip of the Baja California peninsula, but they each have their own unique benefits.
It really just depends on your own personal preferences. Regardless of which city you pick, there are a lot of condos for sale at all price points in both cities.
PROS AND CONS OF SAN LUCAS
Cabo San Lucas is the biggest town in the area with plenty of homes for sale. This means it provides access to all the exciting opportunities of Cabo.
There is plenty of nightlife and several large, swimmable beaches where everyone goes to relax and party. Cabo San Lucas is a luxury area with high-end shopping, gourmet restaurants, and plenty of tours and activities.
The marina is San Lucas is world famous, with a lot of snorkeling excursions, boat storage, and oceanside tours. It can be a little busy for some who like a more laid-back lifestyle.
PROS AND CONS OF SAN JOSE
San Jose is about 20 miles away from San Lucas. It is a slightly quieter and smaller town. If you love art, culture, history, and wildlife, San Jose might be right for you. T
here tend to be fewer tourists, salespeople, and crowds, so it has a very relaxing vibe. This town still has a lot of its historic charm, and there are plenty of authentic shops, markets, and eateries. However, the beaches near San Jose are not quite as accessible, and you do not have quite as many restaurants, bars, and activities to choose from. Search San Jose Homes Here.
WHY SHOULD YOU PICK A CABO CONDO?
Purchasing a condominium as opposed to a single family property can be less expensive and owning a condo has a more limited upkeep required.
When you own a condo in Cabo, the condominium association is responsible for the maintenance and upkeep of the outside and common areas of the property.
As a condo owner, you will pay a condo fee to the association for your pro rata share of the maintenance and upkeep of the common areas of your complex.
Buying a condo in Cabo can be less expensive to get into and can provide gorgeous ocean views, beach access and a luxury lifestyle.
All the towns in Cabo tend to be vacation areas, so it is fairly common for people to only live in their home part of the year. If this describes you, a condo is definitely the best choice. The condo association keeps up the property while you are gone, so you do not have to deal with the hassle of scheduling lawn care, repairs, and maintenance from another city. You can show up at any time of the year and enjoy a clean, cared-for building with plenty of amenities ready to use.
Since spots by the ocean or in the heart of downtown are so highly coveted, most properties are space-saving designs like condos that let builders stack multiple residences on top of each other. If you want to live right in the middle of all Cabo’s exciting activities, you need to check out condos. This is the best way to get a stunning ocean view while also being able to walk to all the hot clubs and restaurants.
Unless you plan to build your own private resort, you cannot beat the amenities that a condo provides. Almost every condo has at least a pool and barbecue area. Many of them also have sports courts, jacuzzis, private gyms, restaurants, and full-service bars. The great thing about condo community spaces in Cabo is that they are a great way to make friends. Everyone else who lives there is also interested in relaxing, having fun, and enjoying the town, so it is easy to build close relationships with your neighbors.
Though Cabo is already a very safe place to live, it is perfectly natural to still have typical security concerns. Condo living provides plenty of peace of mind for those who want to feel safe. When you are out traveling, you always have neighbors right next door who can report anything suspicious. Most condos have security guards, doormen, and private garages, so there is an added layer of security between your home and the public.
IS IT EASY TO SELL A CABO CONDO?
Whether you are planning on selling your condo now or just want to make sure your property is a wise investment, it is a good idea to learn a little about selling a condo in Cabo. The good news is that you can usually sell properties in this area very easily. Since there are plenty of great advantages to condo living in Cabo San Lucas, there is a huge demand for condos.
Properties in Cabo usually go quickly because there are a lot of interested buyers. You may find it particularly easy to sell if you are near a highly rated school or right by the ocean. Keep in mind that there are a lot of Cabo San Lucas condos for sale, so you need to plan your sale carefully if you want the highest possible price.
Typically, the best time to list is in the early spring, since many people want to buy a new condo in time for the holidays. Make sure to use a talented realtor who knows about the intricacies of Cabo real estate law, and take the time to clean and stage your property before selling. A lot of buyers will be shopping from another location, so good pictures and a detailed online post are essential.
HOW DO YOU BUY A CONDO IN CABO?
Cabo might seem like a seller’s market, but this does not mean buying a condo is too difficult. In resort towns where properties are moving quickly, you get a lot of options to choose from. The trickiest part can just be figuring out which one of the many Cabo San Lucas condos for sale is right for you.
Having at least a few months to shop around is a good idea because you can take plenty of time to decide what you like. When trying to see if a condo is right for you, you will need to consider several things. Try to ask yourself these questions.
- Will the size and layout of the condo work for your needs?
- Does the condo fit comfortably in your budget?
- Is the location near the ocean, shops, restaurants, golf courses, or other parts of Cabo that you enjoy?
- Do you need space to park a vehicle?
- Does the condo match your personal style or are you comfortable renovating it?
- Are you happy with the way the condo board manages the property?
- Does the condo property have amenities you will regularly use?
Once you settle on a condo, it will be time to negotiate. Your realtor can help you figure out a fair price for the condo and present an appealing offer to the seller. After you and the seller agree on a price, all you need to do is finalize the finances and paperwork. Some condos for sale may need you to get approval from the board, and if you are a foreign buyer in Mexico you will need to set up a Fideicomiso or “bank trust.”
Since foreigners cannot purchase Mexican land in certain restricted zones, you will essentially need to make an agreement with a bank for them to hold the property in a trust for you. This might seem complicated, but do not worry. You will still have all the usual rights of property ownership. We are extremely familiar with every aspect of this process and can walk you through all the steps.
WHAT REAL ESTATE TRENDS ARE HAPPENING IN CABO?
Like any other town, real estate trends can change the way people buy and sell properties in Cabo. Because of the popularity of Cabo homes, most real estate brokers are hiring a professional SEO agency to market their websites. Being informed on these trends can help you make smart decisions and invest in properties that will continue to rise in value. Here are a few of the major trends you can expect to encounter in Cabo condos during the upcoming years.
MORE DEVELOPMENT ON THE OUTSKIRTS OF TOWN
Over the past few years, desires for privacy mean that more condos, resorts, and private homes are being built on the edge of San Lucas and San Jose. Beachside condos in quiet spots are becoming highly sought-after. Condos in the outskirts of town are also increasingly desirable because they let people easily visit all the golf courses and resort areas in between the two cities while also being near the conveniences of downtown.
A SHIFT TOWARDS MINIMALIST ARCHITECTURE
Older condos in Cabo tended to have a hacienda-style look with plenty of stucco, warm colors, curving lines, and tiled accents. However, younger generations tend to prefer more modern homes. You can expect more and more condos to lean towards neutral color palettes, natural materials like wood and stone, and large, open floor plans.
INCREASING ENVIRONMENTAL AWARENESS
A general growing interest in environmental concerns means that many people are becoming aware of the unique flora and fauna that live in this part of Mexico. There are several recent laws that require new constructions to be more environmentally friendly. In addition to being more legally compliant, condos that use sustainable practices and materials appeal to younger markets. This means that you can get higher prices for these desirable properties.
WHAT’S IT LIKE TO LIVE IN CABO?
One of the most common things people ask when learning about the Cabo real estate market is “what’s it really like to live in Cabo San Lucas or San Jose Del Cabo?” No matter how often you visit, you cannot really experience the unique lifestyle of Cabo residents until you have a condo in this wonderful region. If you are thinking of making the move and from the US, you may want to read our article on buying real estate in Mexico.
Most people who live in Cabo agree that their favorite part of this town is the incredible surroundings. Wherever you are, you can experience pleasantly temperature weather, deep blue skies, sparkling water, and soaring rock formations. With such a beautiful setting, just about every social activity in Cabo, from yoga classes to wine mixers, tends to be held in outdoor spaces like patios and parks.
People with condos in the region experience a unique blend of Mexican culture and international flair. You can do a lot of traditional things like celebrating the Day of the Dead, browse through open-air markets, and eat Mexican specialties. At the same time, talented residents from all around the world work hard to provide the best schooling, healthcare, and technology. This special environment makes Cabo an ideal place to work and play. For more information about buying a Cabo San Lucas Condo or San José del Cabo Condo, contact us today!