San Miguel De Allende is the top destination for expats in Mexico. With over 10% of the city being international residents, let’s see why Americans love it so much. We will talk with a local agent about the process, popular neighborhoods and price points, and why you may want to buy in the area.

Is it Easy to Buy in San Miguel De Allende?

Bibiana Moran: We have a relatively easy process for Foreigners to buy homes. The process starts with an offer letter to the seller (just like in the United States). Then you apply for a permit to be allowed to purchase in Mexico (Link to Permit Site). The whole process can be done through the Internet. The buyer does not need to be here. It is relatively very easy to make a purchase!

Top Neighborhoods for Expats?

Bibiana Moran: Foreigners like San Miguel De Allende very much. They prefer areas that are mixed, like the Guadalupe neighborhood, the San Antonio neighborhood, or the part where we are right now – El Centro. Prices vary greatly. For example, you can find a property for $600,000 and if we come to the center, the houses can be as high as $2.3 million. Location is an important factor for pricing. Obviously it depends on location, you can find a good house for approximately $600,000 to $800,000.

Why Invest in San Miguel De Allende?

Bibiana Moran: There are many reasons foreigners like to invest in San Miguel de Allende. The first is the magic of the city. The second is a great quality of life. Another is the diversity of cultures you find here. There are also a lot of traditions here – lots in Mexico in general, but also traditions specific to this wonderful city that people enjoy.

Looking for additional insight for buying in San Miguel De Allende? Below is a straightforward guide to how Americans can purchase real estate in San Miguel de Allende:

1. You Can Own Property Outright

Unlike Mexico’s coastal and border regions (where foreigners must use a bank trust, or fideicomiso), San Miguel de Allende allows full fee simple ownership. That means your name is on the deed—just like in the U.S.

🏡 2. The Buying Process is Similar to the U.S.

Here’s how it works:

• Find a licensed real estate agent.
  • In San Miguel de Allende, real estate agents should be licensed by the state of Guanajuato. While AMPI (Asociación Mexicana de Profesionales Inmobiliarios) is a respected industry association, it is not a legal licensing body—so ensure your agent holds a valid state license and, ideally, is also an AMPI member for added professionalism.
• Research neighborhoods and shortlist properties.
• Submit an offer and negotiate—just like you would stateside.
• Once accepted, a formal sales contract (Promesa de Compraventa) is drafted.
• Conduct an inspection before funding escrow (you typically have 10 business days but depends on negotiations and contract terms).
• Deposit 10% of the purchase price as earnest money.
• Apply for a foreign buyer permit.
  • This refers to the SRE permit (Secretaría de Relaciones Exteriores), and it is required even outside the Restricted Zone, but it’s indeed a routine “rubber stamp” process.
• Close at a notary’s office (the equivalent of a title company + closing attorney).

The whole process usually takes 30–45 days (often quicker due to fewer mortgages).

3. What Are the Costs?

Expect about 5.1% in total closing costs, which covers:

• 4% acquisition tax (varies by municipality across Mexico)
• 1.1% notary and municipal fees
• Plus a few small extras:
  • SRE foreign buyer permit (~$500 USD)
  • Escrow fee (split with seller, ~$200–$300 each)
  • Optional: Power of attorney if you can’t attend closing

4. Why San Miguel Is So Popular

• Only 2-hour flights from Texas hubs like Dallas or Houston
• Historic charm with a European feel
• Comfortable, dry high-altitude climate (no bugs, no humidity!)
• Walkable lifestyle, vibrant culture, and over 75 festivals a year
• Solid long-term real estate value—especially near the town center

Final Tip:

San Miguel’s real estate system isn’t as digitized as in the U.S.—there’s no Zillow or MLS history. So, working with a knowledgeable, licensed agent is crucial. They’ll guide you through the process, help you avoid scams, and connect you with trusted inspectors, notaries, and legal experts.

Contact Laura to Learn More.