Residences

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Residences: We want to hear from you

 

If you couldn‘t find the answer to your question, we want to hear from you. Just email us or call us on our toll-free line and speak to one of our staff and we‘ll make sure that all your questions are answered to your satisfaction. We‘re here to serve you and make your time here as pleasant and as enjoyable as possible.

 

Can I own property in Mexico since I am not a Mexican citizen?
Yes, thru a trust. The Mexican Bank Trust (Fidecomiso) was created in 1971 to promote tourist and retirement investments along popular coastlines by Mexican President Echeverria, which authorized the 30-year Bank Trust program. This is the most secure method to hold real estate in Baja California. Your Bank Trust must be established at an authorized Mexican Bank in their Trust Department.

The property you hold in a Bank Trust is yours to improve, build, sell, leave in your estate, etc. You'll enjoy all the same rights you have in your U.S. fee simple real estate via the Bank Trust.

In 1989 President Salinas mandated the 30 year Trust be extended for an additional 30 years. Then, December 27, 1993, President Salinas extended the Trusts from 30+30 year arrangement to the new 50+50 year time period. Bank Trusts are perpetually renewable.

What is a Condo Hotel? Is it a time share?
Purchasing a Condo hotel suite is just like purchasing any other piece of real estate. You own it. Time Shares are just that, time that you purchase to use the condo during the course of the year. With Condo Hotel suites you can live in them fulltime or allow the Hotel operator to rent your condo out for a split share of the revenue. Condo Hotel suites always include many more amenities than other developments because they are located on existing hotel sites. Owners enjoy amenities including concierge, room service, maid service, restaurants, and spas. Condo Hotels are sold to the client with a promise of hassle free ownership.

Can I rent my condo out?
Yes, either you can rent it out on your own but many owners choose to use the services of the Hotel. The hotel will rent out your condo utilizing the large amount of clients that frequent the hotel.

How much do they guarantee it will be rented?
Unfortunately the hotel is unable to see the future and has no idea what the rental occupancy will be or rental rates. They do have 82 years of history as the first established hotel in Rosarito Beach. Past occupancy histories and rates are available form the hotel.

What are the prices of the condos?
We have one bedroom/ one bath condos starting at $190,000. We have 2 bedroom/ 2 bath condos starting at $362,000 and 3 bedroom/3 bath, 2 story penthouses starting at $599,000. We can accept as little as 10% down and with 20% down we are able to offer discounts.

Is there financing?
We are very lucky to have 2 options for you to choose from. There are US lenders working in Baja on loans and also there is an in-house option for clients that may not have the best FICO score.

Are the interiors of the condo suites decorated?
That‘s the beauty of Condo Hotels, they are fully furnished down to the pots and pans. All is included, and when you are not using your condo you are able to store all of your personal belongings in an owners closet. You are able to take possession of your condo and begin to immediately enjoy it. Fully furnished is just another aspect of hassle free ownership.

When will the resort be completed?
We have been under construction for 11 months and are slated for completion next year in April of 2008. The Residences is by far the fastest moving project in the Rosarito area.

What is the difference between the North and South tower?
We have two different ocean views to choose from at the Residences. The North tower has larger balconies and South West views that look out to the Pacific Ocean and the South Coast line. The South tower looks directly west towards the Pacific Ocean.

What is the appreciation rate in Baja?
Over the past two years (2005-2006) Baja has seen an appreciation of up to 25% in values of property.

What are the amenities I will find on site?

  • Four heated pools, one located on the roof top of the 17th floor with an infinity edge
  • Jacuzzis
  • Full service Casa Playa Spa
  • Fitness center with cardio and weight training equipment with a full glass wall separation which looks into the
  • Game/activity room including a rock climbing wall, pool tables, and video games where the kids can play and mom and dad can keep an eye on them while they work out next door
  • Two full service restaurants. Azteca restaurant provides authentic Mexican dishes. Chaberts, located in the owners historic mansion, creates French and Mediterranean cuisine.
  • Four bars
  • Pier
  • Water sports and activities
  • Business center
  • Tennis courts, basketball, and racket ball courts
  • Beach side wedding destination
  • Maid service, 24-hour in room dinning, concierge, welcome assistant, 24 hour maintenance, poolside servers and laundry service.
  • Daytime children‘s activities, and nightly baby sitting services if mom and dad need a break
  • Shuttle transportation to and from the San Diego airport.

Will I as an owner be able to use the amenities that are located in the existing hotel?
Yes, absolutely. You as a condo owner are allowed all access to the property. Hotel guests will only be allowed in the hotel area. The condo hotel guests and owners will only have access to the new building and amenities that surround it.

How much is the HOA fees?
The monthly fee will encompass an HOA, hotel access fee, and utilities. At this time we are unsure of the total costs to the owner.