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brooklyn

May 7, 2009, 7:47 AM

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Renting in Ajijic

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My wife and I are retired, and are considering coming to Ajijic and renting a house for about a year, while we decide if we want to stay, and, if so, whether to continue renting or buy a place to live (we have no young children or pets, and neither of us smokes).

When I look at the "rentals" category of Ajijic real estate agents who have Internet websites, I see some houses (at least, they look nice to me) advertised at about US $600 to US $800 a month.

However, I did read one posting that said that the average rental should cost about 1% of the house's purchase price. That means that these houses for rent should be worth about US $60,000 to US $ 80,000 on sale.

From what I have seen of the real estate market in Ajijic, you couldn't even buy a dog house for that amount.

Am I missing something here?



bournemouth

May 7, 2009, 8:59 AM

Post #2 of 26 (12972 views)

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Re: [brooklyn] Renting in Ajijic

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I think that ratio of rent to price went out the window a long time back - not just here but NOB too. I remember it being used back in the 70's in the US but not much after that. I'm sure there will be those that disagree.


RickS


May 7, 2009, 10:21 AM

Post #3 of 26 (12961 views)

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Re: [brooklyn] Renting in Ajijic

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Of course it is not possible for one person to predict what another would consider 'nice', but IMHO you will be able to find many nice homes at Lakeside that fall into your $600-$800 range.... and most of them will be furnished and some will include a gardener. Best time to have the largest choice is between now and October 1.

In addition to Real Estate agents, one will see 'for rent by owner' postings at several central places in the village(s). I would recommend (especially if you are coming down during the time-frame mentioned above) coming down and staying in a B&B for several days while looking for a rental. While there, ask a local gringo what they might think about renting in "location X" vs. "location Y".

(This post was edited by RickS on May 7, 2009, 10:23 AM)


Hound Dog

May 7, 2009, 11:00 AM

Post #4 of 26 (12953 views)

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Re: [brooklyn] Renting in Ajijic

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My wife and I are retired, and are considering coming to Ajijic and renting a house for about a year, while we decide if we want to stay, and, if so, whether to continue renting or buy a place to live (we have no young children or pets, and neither of us smokes).
When I look at the "rentals" category of Ajijic real estate agents who have Internet websites, I see some houses (at least, they look nice to me) advertised at about US $600 to US $800 a month.
However, I did read one posting that said that the average rental should cost about 1% of the house's purchase price. That means that these houses for rent should be worth about US $60,000 to US $ 80,000 on sale.
From what I have seen of the real estate market in Ajijic, you couldn't even buy a dog house for that amount.
Am I missing something here?


What you are missing, brooklyn, is that you are cruising a forum or some forums catering to the foreign community. I would suggest that most homes in Ajijic would sell for less than $80,000USD and rents would be substantially less than those you have seen on the internet. If you are on a budget, come down and look around at your leisure.

Ajijic is to Mexico as Gringal´s Palo Alto (on another post) is to the U.S. Overpriced modest housing. Exceedingly overrated restaurants. Grossly overreaching and postering and shallow academics ´(in Palo Alto - real estate agents in Ajijic) working for and about a regional university with its knickers in a knot over nothing of consequence (think Condoleeza Rice). Intensely envious gazers and wannabees from pedestrian exurban conclaves across the Bay or down the lake. Prickly folks from places up there such as Hayward or Fremont and down here as Chapala and Riberas del Pilar who can´t rest until they find a pimple on the Queen´s butt.


(This post was edited by Hound Dog on May 7, 2009, 11:03 AM)


brooklyn

May 7, 2009, 12:00 PM

Post #5 of 26 (12936 views)

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Re: [Hound Dog] Renting in Ajijic

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Trying to find something to rent on the local real estate market is like the advice thin people often give fat ones “Why don’t you lose some weight?” Easier said than done!
I’ve had some experience trying to rent housing from Mexican newspaper ads and “Se Renta” signs hanging from buildings. A great idea, if you speak perfect colloquial Spanish and can understand it over what is often a defective telephone connection.
The fact is, I’m a gringo, I speak like one, I look like one, and I’ll always be one, no matter how hard I try to speak Spanish. If I try to fit into the local real estate market, I’m going to have a difficult time.


Gringal

May 7, 2009, 2:39 PM

Post #6 of 26 (12907 views)

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Re: [Hound Dog] Renting in Ajijic

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I do recognize a dig when I see it, dawg. But Ajijic is no Palo Alto. I lived there awhile. Nice folks and good facilities. Even been to that fancy market? Snacks to live for. Good Chinese food.

Brooklyn sounds like a person who isn't likely to have delusions get in the way of enjoying life.
They will soon discover that those theoretical bargains in housing are sometimes worth what you didn't paid for them. Rents: They should be able to find a decent rental for under $700 without benefit of a landlord who didn't notice that the previous tenant removed the toilet, the sink and a few other items. Especially at this time of year.

You, dawg, got up on the wrong side of the universe lately and have gone into curmudgeon mode, where nothing, but nothing, is good enough to suit you. Your putdowns are in a spawning frenzy.
You really need to leave for France or Chiapas. Soon. Bile isn't good for your digestion.


Hound Dog

May 7, 2009, 4:23 PM

Post #7 of 26 (12890 views)

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Re: [Gringal] Renting in Ajijic

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Bile isn't good for your digestion.

I was under the impression that bile was essential for digestion Gringal Darlin´.

You will be pleased to note that I will, indeed, shortly be off to Paris where I will doubtless also find something to grouse about. I have had the opportunity to spend way too much time in both Palo Alto and Paris and would rather have dinner in Paris if you`ll forgive my saying so.

You`re right about one thing if I may stretch your point. When it comes to Chinese food, Ajijic is no Palo Alto which is a burg with at least a couple of very good Chinese restaurants whereas Ajijic is a good 2,000 kilometers from one of those things.

I will no doubt be in a better mood after a month in France and thus will be as boring as melba toast upon my return to Lake Chapala.

Bye!





(This post was edited by Hound Dog on May 7, 2009, 4:26 PM)


RickS


May 7, 2009, 8:59 PM

Post #8 of 26 (12854 views)

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Re: [Hound Dog] Renting in Ajijic

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Melba Toast..... perfectly acceptable (but I'll believe it when I see it!)

Curmudgeon Mode... not nearly as acceptable (but that's just me.....)

"Will no doubt be in a better mood after a month in France"..... well DUH!

Enjoy your trip.


Hound Dog

May 8, 2009, 5:45 AM

Post #9 of 26 (12811 views)

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Re: [RickS] Renting in Ajijic

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I must protest, Rick. It is Gringal who posited I was being curmudgeonly after I took mild exception to some other poster`s assertions that restaurants closed too early around here and another´s that the cuisine available in these parts was fairly cosmopolitan for a city of this size (my words). Then I went out at about 8:00PM amd every restaurant I tried to enter was closed. Maybe it´s still that swine flu thing but perhaps I spoke too soon.

What does this have to do with renting in Ajijic? Just make sure that wherever you rent there is a kitchen adequate to the task of home cooking.

I went by Johnny´s in San Antonio for the Georgia BBQ boy´s fine mesquite grilled BBQ chicken and found he had once again quit another joint (after closing his own place on the carretera and a short stint at Tom´s Bar) so I stopped by Torito for some of those alfalfa sprouts (they now carry since they became sophisticated so to speak), sliced ham, tomatoes and onions and made myself a sandwich at home which not only tasted fine but I know for sure that the sumbitch who made it washed his hands before he touched that which he then consumed.

I may have to give up on the Georgia BBQ lad whose food I have been touting since he keeps coming and going for whatever reason. I can understand that fixing up chicken, ribs and puilled pork sammitches for a fickle and never pleased public would eventually get on one´s nerves but you do what you have to do to survive. Do any of you know if he has popped up elsewhere around Lakeside? His chicken is certainly good if he can just stick to his routine.


(This post was edited by Hound Dog on May 8, 2009, 5:50 AM)


stevebrtx

May 11, 2009, 5:51 PM

Post #10 of 26 (12642 views)

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Re: [Hound Dog] Renting in Ajijic

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As mentioned, the 1% rule really doesn't apply, however also don't fall for the "live on $1,200 a month" stories, they're dated for this area. As mentioned there are several different villages with dramatically differing lifestyles and costs. I always tell folks you can live native or you can live gringo, you can guess which costs more. I'm east of Ajijic and am asking for a 2 year renewal. I've never asked the owner how much they would sell for, but I'd guess $300k-400K+. Of course right now sales in this range are slow. I pay $1,400 a month, you do the math, but it includes a casita which I rent out and several other amenities. You be the judge http://www.chapalaweather.net/Casa%20Abuelo%202009/ (click to enlarge and start slide show)

PS: Here's an example for $650 http://www.kodakgallery.com/ShareLanding.action?c=cg3w81n.uhnrpqr&x=0&y=t4a1s3&localeid=en_US
http://www.chapalaweather.net

(This post was edited by stevebrtx on May 11, 2009, 7:11 PM)


RickS


May 12, 2009, 10:21 AM

Post #11 of 26 (12588 views)

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Re: [stevebrtx] Renting in Ajijic

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don't fall for the "live on $1,200 a month" stories

Although there are folks who do just that Lakeside and it is not in squalor, that is a bit dated. Often when I see that figure or there-abouts, the conversation assumes that a home has been purchased outright. In that case $1200 is do-able. And it also depends on what 'lifestyle' the person is accustomed to having or needs to sustain. While your place is gorgeous (I know the place and have stayed in the casita in the past), the $650 you linked better fits my needs. And I could live in it easily for $1750 including a maid and occasional trips to the beach or somewhere else. Flights back NOB or some sustained medical problem, while not an on-going expense, would be an extra cost over and above that figure as would purchasing something 'major'.

P.S. Thanks for hosting the Lake Chapala Weather Net.....

(This post was edited by RickS on May 12, 2009, 11:53 AM)


Rolly


May 12, 2009, 10:35 AM

Post #12 of 26 (12585 views)

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Re: [RickS] Renting in Ajijic

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Steve's Lake Chapala weather site is http://chapalaweather.net/

Pretty neat thing.

Rolly Pirate


stevebrtx

May 12, 2009, 1:48 PM

Post #13 of 26 (12560 views)

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Re: [Rolly] Renting in Ajijic

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When I was looking before moving I was offered a nice 3 bedroom ranch on the South shore for $450 a month, so I believe you could live for much less over there and if you aren't interested in the "village life" etc. it would be fine. The only requirement there would be to have some Spanish skills.
http://www.chapalaweather.net


stevebrtx

May 13, 2009, 2:19 PM

Post #14 of 26 (12497 views)

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Re: [Rolly] Renting in Ajijic

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Rolly, thanks for the plug, today we added some upgrades for our Canuck friends, the site now has some metric readings. At the moment it's on a temporary site at http://chapalaweather.net/canamx.htm for a bit of testing, assuming all runs well we'll switch it over to the main URL soon. (but what the heck is a kilopascal hPA and why isn't it kPA?)
http://www.chapalaweather.net


Brigitte Ordoquy

May 13, 2009, 5:03 PM

Post #15 of 26 (12479 views)

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Re: [stevebrtx] Renting in Ajijic

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Rolly, thanks for the plug, today we added some upgrades for our Canuck friends,

Ah, Steve:

Months ago, I asked you why you would not post your temperatures alternatively in centigrade as well as fahrenheit out of respect for the fact that your weather site is in a country using that temperature measurement scale and you responded that your readers would find such measurements confusing and incomprehensible and, therefore, you would never do so. Now, it seems. that while you treat your Mexican hosts with such disdain you feel compelled to offer the centigrade alternative for your "Canuck friends".

Let me see if I comprehend this. You were unwilling to put forth the effort to upgrade your site to one using measurements meeting international criteria only to show respect to your Mexican hosts who are attuned to centigrade measurements but upon hearing of discomfort among your "Canuck" clientele your are willing to put forth the effort to moderate your site.

I leave it up to the reader to interpret this about face.

Now, that having been said, I compliment you on a most professionally run weather site and one for which you should be proud. Just get off of your high-horse and you may rise above the epithet "Texas Wannabee". Nebraska is a better place anyway.

I do seriously like your weather site efforts, Steve. Keep it up.

Dawg


(This post was edited by Brigitte Ordoquy on May 13, 2009, 5:11 PM)


stevebrtx

May 13, 2009, 7:28 PM

Post #16 of 26 (12459 views)

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Re: [Brigitte Ordoquy] Renting in Ajijic

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Ah Bob,
You've known me long enough to know I pretty much do what I want, when I want, and especially what pleases me. Now, when the stats, and requests, show as many Mexicans are looking at the sight as gringos, it will become a metric site done entirely in Spanish with English "sub titles" - but that has a ways to go.

And Bob, you can depend on me "keeping it up" - like I said, I do things I like and - if y'all like it as well, I guess I'm twice blessed.
http://www.chapalaweather.net


julia ajijic

Jul 1, 2009, 7:01 AM

Post #17 of 26 (12154 views)

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Re: [brooklyn] Renting in Ajijic

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In Ajijic you would be amazed at the wonderfull houses that you can rent fully furnished at fantastic prices. There is something for everyone in the rental market that will suit your budget. There are some really good places believe to rent believe it or not at $600 furnished including electricity and water with 2 beds and 2 baths. I also have available a studio for $400 per month. These are the prices for long term . Prices increase for short term. But the kind of place that you can rent for $1400 is usually a house that can sell for $450,000 and those houses have, a lake view, pool, marble kitchen etc. So in Ajijic the 1% rent that you are talking about does not hold true. Ajijc is a place where you get value for money for a rental but you need to know the area. Some places are much nicer to live in than others. But one thing for sure is that it is a really friendly place and the weather is just great. Today its just prefect to walk all day through the village.


Axixic


Jul 7, 2009, 3:36 PM

Post #18 of 26 (11869 views)

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Re: [brooklyn] Renting in Ajijic

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Quote
However, I did read one posting that said that the average rental should cost about 1% of the house's purchase price.


The law is that the rent cannot be more than 1% of the taxed value of the house. Rentals are never 1% of the value of the house.


RickS


Jul 7, 2009, 3:50 PM

Post #19 of 26 (11862 views)

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Re: [PamelaDelafield] Renting in Ajijic

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What 'law' might you be quoting? That has never come up, to my knowledge (but that surely doesn't mean that there isn't one... I'm just curious).


Axixic


Jul 8, 2009, 4:00 AM

Post #20 of 26 (11806 views)

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Re: [RickS] Renting in Ajijic

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In Reply To
What 'law' might you be quoting? That has never come up, to my knowledge (but that surely doesn't mean that there isn't one... I'm just curious).


It's in the Jalisco Landlord/Tenant code and in the code of several other states.

I think this is the correct link:

http://www.ordenjuridico.gob.mx/...Codigos/JALCOD01.pdf


(This post was edited by Rolly on Jul 8, 2009, 7:44 AM)


bournemouth

Jul 8, 2009, 7:14 AM

Post #21 of 26 (11787 views)

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Re: [PamelaDelafield] Renting in Ajijic

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Well - I've waded my way through the Judicial Code and Article 2041 would appear to be the article in question but it says nothing like rents being limited to 1% of value.

Pamela - could you be more specific about where this clause can be found, please. Thanks in advance.


Axixic


Jul 8, 2009, 7:23 PM

Post #22 of 26 (11712 views)

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Re: [bournemouth] Renting in Ajijic

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I'll have to find it on my computer. The hard part is I transferred all docs to another drive to clean this HD up so it might be awhile. I do know that I have it and I have sent it out to several people.


cookj5

Jul 8, 2009, 9:09 PM

Post #23 of 26 (11691 views)

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Re: [brooklyn] Renting in Ajijic

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My wife and I have been renters in Ajijic for just over 2 years. We found a place the first day we moved down. It was a 1 BR, 1 BA, nicely decorated place about 3 blocks from the plaza. Rent: $500/mo USD. After a year, we decided we needed a bit more space and rented a 2 BR, 2BA place in a gated complex, very nice grounds with a pool. Rent: $550/month with the option for another year at the same rate. After a year, we liked it so much, we cut a 5 year deal with the owners. The deal has two small increases built in that will gradually raise the rent to $600/mo by 2014.

Thing about rents in Lakeside is, if you go through a real estate agency or rental office, the rent will include a large premium for their fee. I don't begrudge them this, managing property costs money. But it is a reality when dealing with an agency. There are plenty of places you can rent from expat, or English-speaking, owners.

To find our current place, we scoured the bulletin boards at the Lake Chapala Society, and local grocery stores and other places with rental notices from property owners (not agencies). We also started looking in March, when the "snow birds" start pulling out, and landlords are desperate to fill vacant units. March-June are the best months to find cheap rentals.We were full-time, non-smoking, no-pets renters, so we were solid gold from a land-lord's point of view. We were actually approached by landlords while we were browsing the LCS board and implored to come look at their property.

Even though we currently have a long-term lease, we keep our eye on the boards just to see what is happening. There were a number of units we saw in the past couple of months for $450/mo and we actually checked out two of them, one in Chapala and one in Jocotopec. Both were very nice places, actually bigger than what we have now, and very well constructed and decorated. However, we like Ajijic and so we'll keep living here as long as we can afford it. The point is that there are some very good places at very reasonable rents if you are willing to look a bit more widely.

I would advise you to come down in March or April, take a B&B for a couple of weeks, and browse the market. Ask lots of questions to expats you meet about neighborhoods. Talk to all the renters you can find. Walk around a lot to get the feel of the area. Look at a lot rentals. Let landlords know up front you are looking for something long-term and expect a lower rent in return.

"Long-term" is a relative term here, and sometimes 6 months falls within that definition. I would suggest broaching a deal, when you have found something that you like, for 6 months lease with an option to new for another 6 months at the same rent. That way, if it goes sour somehow, you have an out, while if you like it you can have stable rent for at least a year. An alternative would be 1 year with a 1 year renewal option, but it sounds like you are only ready to commit to a year.

Last piece of advice would be to make a list of all the things that are of critical importance to you in a rental, and take that list with you when you view properties. It can be too easy to fall in love with some aspect of a property (just LOOK at that view, dear!) and gloss over other aspects, such as the carpenter shop next door with the whining saws, the lack of parking, the failure of the water faucet to produce hot water after some minutes of running etc. Everybody who intends to live there should contribute to the list and think seriously about what is most important on a day to day basis.

Good luck with your search!


cookj5

Jul 8, 2009, 9:35 PM

Post #24 of 26 (11689 views)

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Re: [brooklyn] Renting in Ajijic

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One more point, Brooklyn, about the 1% formula you mentioned. I don't know the validity or methodology of that, but a realtor friend told me that in this area, the real worth of a home is what it would rent for a month on the current market X 12 years. The rationale is that renters become home buyers when it makes economic sense to own rather than rent.

What home owners north of the border have found out recently is that it doesn't matter what you paid for it, what you spent on upgrades, or what you think it is worth. It is only worth what a buyer is willing to pay. Simple economics. Unfortunately it appears that too many owners down here who want to sell haven't internalized the lessons that folks north of the border are learning to their dismay. Since the owners down here probably paid cash up front during the recent "salad days" of the housing market, they are not under pressure from a mortgage payment. Consequently they have been reluctant to significantly drop their prices even in the face of a 48 month housing stock on the MLS at current sales rates.

A further consequence is that lots of unsellable empty houses means a great rental market for you for the forseeable future.


julia ajijic

Jul 16, 2009, 7:59 AM

Post #25 of 26 (11463 views)

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Re: [cookj5] Renting in Ajijic

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I agree with nearly everything brooklyn writes except this year I think someone looking for a long term rental will still get a good price and not just in April and May but right up to december. Of course Jan to March is never the time to look for along term rental
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