Buying in Mexico – TV vs. Reality
You’ve probably experienced an HGTV binge at some point, watching back-to-back episodes of shows like Mexico Life or Beachfront Bargain Hunt, thinking your home-buying journey in Mexico will be like that. Although these real estate reality shows are entertaining, they often need to portray real estate transactions’ complexities accurately. While these shows make the process seem straightforward and fast-paced, here are four buyer beware myths perpetuated by these programs:
Myth #1 Shows like Mexico Life and Beachfront Bargain Hunt depict house hunting as a swift and effortless process, featuring only three beautifully staged homes. Buyers often make quick decisions with minimal discussion, glossing over essential questions that must be addressed.
Truth: House hunting, no matter where you are, is a meticulous and often exhausting process. Real estate agents guide buyers through numerous properties, necessitating thorough evaluations of each home’s condition, location, and potential issues. Unfortunately, these crucial steps for making informed decisions are rarely depicted in the shows.
Myth #2: The buyers on the show are enthusiastic and eager to find their ideal home; every property they view is on the market. Reality shows often portray buyers as ready to purchase immediately, suggesting that all the homes they explore are available for sale.
Truth: Since capturing the entire home-buying process in a 30-minute episode is impossible, these shows are often staged for television. Many of the homes featured are already sold and off the market. The “buyers” may have already purchased a house before filming, which isn’t even showcased in the episode. Often, the properties they tour are not on the market. Typically, local agents are enlisted by TV producers to appear on the show; they’re asked to present three properties, often homes they or their brokerage have previously sold, along with a “buyer” who could be anyone from a past client to a personal friend.
Myth #3: Home prices are low in Mexico
Truth: The reality is that home prices in Mexico have risen, especially in the wake of COVID-19, and each area presents various housing options at different price points. Just because you spotted your ideal home on a show at a price that fits your budget doesn’t mean you’ll find the same property available in the market you’re exploring.
Myth #4: Everyone lives happily ever after. Once the on-screen buyers say “yes” to a house, TV shows suggest that the sale wraps up quickly, with the buyers moving in within a month or two.
Truth: Saying “yes” doesn’t always mean the sale will go through. After the credits roll, various issues can arise that prevent the sale from being finalized. From financing falling through to failed home inspections, unexpected hiccups can push buyers back into “house hunting” mode. Even when the sale is successful, it can take months for buyers to move into their new home and unpack.
The bottom line? Enjoy these shows (we do!), but remember that despite the “reality TV” label, buying property anywhere—Mexico included—is a complex and time-consuming process that requires a grounded, realistic approach.