Are you contemplating building a home in Lake Chapala? More and more people are turning to the idea of building from scratch and now with a large number of building lots available on the MLS, it's a great time to pick the location of your future home. So how much does it cost? In this blog we'll take an in-depth look at lot prices and construction costs so you can confidently enter the market.
Lot Prices
Land, like houses, are sold in either U.S. Dollars or Pesos. With the current exchange rate at over 21-1 to the peso, buying a lot in pesos is the way to go if you can find a local seller who wants pesos. Make sure that the lot you buy has access to a reliable water supply (well or municipal) and that the deed is in good order.
(The Notario, as part of his job and due diligence will make sure that the title is clear)
Neighborhood U.S. $ Price per Square Meter
Chapala Haciendas 40-80
Brisas de Chapala 95-125
Riberas del Pilar 100-175
Chapala 25-100
San Antonio 150-300 Chula Vista Norte & Libramiento 150-400
Chula Vista (Upper) 80-200
La Floresta 300-400
Ajijic 300-400
Villa Nova & Rancho del Oro 120-250
La Canacinta & La Cristina area 200-250
Raquet Club 75-120
(lot costs are rough estimates to provide you with a general idea of costs per square meter in each area)
If you are not certain as to where some of these areas are located then Contact Us
Preparing to Build
During our construction, there were a number of costs that were additional before we ever laid a spade in the ground. These can, of course vary, but just to give you a rough idea, ours were as follows:
Additional Costs U.S. $ Price
Notary 1670
Soil Test 510
GPS Survey 320
Permits 5000
Construction
Here's the nuts and bolts of the house. Keep in mind that everything you permanently cover with a roof is calculated as part of the construction from roof edge to roof edge, terraces, carports, storage areas, miradors, etc.
Class Type of Construction U.S. $ per Square Foot
Superior Granite/marble/hardwood 80-110
Medium Quality tile/good fixtures/pine 50-80
Economic Cheap tile/tile roof/plywood 40-50
Additional Construction Costs
There are some things that you need to factor into the overall cost that are not included in the above base figures for construction. There are many variables depending on your lot steepness, height and thickness of retaining walls, city sewer or septic, well or city water, etc, plus any extra convenience items you may want.
Here are average figures for some common items:
Water pressure and purification system 10,000-20,000 pesos
Automatic garage door opener 8000 - 12000 pesos
Pool 200000 -400000 pesos
City water hook up 15000 pesos
Landscaping 50000 – 250000 pesos
Telephone line 1500 pesos
For more information about anything in this blog then please contact us. We are here to help. Thanks for reading!
Michaela & Ricardo are your FULL SERVICE Real Estate Agents. Along with our Retirement Seminars, our over 20 years of combined experience Lakeside, and our network of area Professionals, we help guide you to from beginning to forever in your Retirement Journey to Lake Chapala, Mexico.
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