Have you been imagining a new life in Mérida but wondering if it’s the right choice for you? It’s natural to have doubts. The key to making an informed decision lies in understanding how Mérida aligns with your lifestyle, values, and goals. Creating a budget and exploring the pros and cons of renting in Mérida are some of the first steps you can take. Natually, it’s important to take time to explore what truly matters to you in a home and community. While many romanticize about walking distance to a park or market, this may not match with reality. This post highlights the most important pros and cons of renting in Mérida; helping you decide what lifestyle choices are critical as well as where you may need to compromise.
Lifestyle Choices for Mérida
Start by thinking about Mérida’s vibrant culture and welcoming atmosphere. How does this align with your vision for the future? Evaluate if the city’s pace and lifestyle match the way you want to live each day.
- Reflect on what you’re truly seeking. A slower pace, vibrant culture, or a more affordable lifestyle?
- Think about what brings you joy and fulfillment. A mix of history, culture, and modern amenities to complement personal and professional aspirations?
- Research the daily realities. What locations offer more affordable cost of living, healthcare, or activities that match your interests?
Are you prepared to embrace new experiences and step out of your comfort zone? Take time to explore different parts of the city including neighborhoods. Clarity for what you do want may come from determining what you don’t want. You may find that compromise comes from an amazing location with fewer amenties vs. amazing amenties in a questionable location.
Pros of Renting in Mérida
Affordability: Renting in Mérida is more budget-friendly compared to buying. Monthly rent can be relatively low, especially if you’re open to exploring neighborhoods outside the city center. This can leave you with more disposable income for other expenses or travel.
Flexibility: Renting allows you to adapt to changes in your circumstances. It also allows exploring different areas of the city. It’s easier to move when your lease is up. This makes it ideal for those who aren’t ready to settle down permanently.
Short-Term Commitment: Renting is a great choice for people who are new or are not sure about how long they are staying. You can “test the waters” and get a feel for the city before making any long-term decisions.
Lower Initial Costs: Unlike buying, renting doesn’t require a large down payment. Landlords in Mérida require (1) first month’s rent (2) security deposit equal to one month’s rent and (3) guarantee deposit (or AVAL – guarantor) equal to one month’s rent. You’ll also pay a contract fee between 50% to 100% of one month’s rent.
Life in Mérida™ Real Estate clients: we ensure there is language in the contract specifically outlining when the deposits are returned and under what circumstances amounts are withheld. This is a CRITICAL component of the contract which MUST be in writing!
Cons of Renting in Mérida
Lack of Ownership: Renting means you’re paying monthly for a property you don’t own. While it’s convenient, you’re not building equity or investing in a long-term asset.
Potential Restrictions: Landlords may impose rules about what you can or cannot do. For example, you might face limitations on renovations, painting, or even pet ownership.
Rent Increases: It’s typical for rental rates to increase annually from 5%-7%. If the owner has made significant repairs, you may find an even higher increase. Be sure to include increases in your budget and allow for fluctuating exchange rates.
Responsibility for Repairs and Maintenance: As a renter, property upkeep and repairs are typically the renter’s responsibility. This can cause stress and unforseeen investment in managing unexpected issues.
Life in Mérida™ Real Estate clients: we require certain maintenance items are performed by the owner PRIOR to our clients moving in. Avoiding deferred maintenace is key to help our clients avoid unnecessary repairs.
Other Considerations for Pros and Cons of Renting in Mérida
Walkability: There are MANY areas of the city, not just Centro, that offer walkability. The location of your home may be close to restaurants, tiendas, fruterias, and grocery stores. Don’t assume all areas of Centro are walkable. Don’t assume all areas in the North are not walkable. It all depends.
Infrastructure: Streets, sidewalks, and drainage in some neighborhoods can be in poor condition. Think potholes, uneven pavement, etc. which leads to flooding during heavy rain. Flooding for locals means that excessive water is found in streets and over sidewalks. This happens in ALL areas of the city.
Electricity Costs: Costs for electricity can be surprisingly high (think similar to U.S. pricing). Constantaly running air-conditioning mini-splits during the hottest months can lead to high electricity bills (CFE rates). Turn off units when not in the room, run on the “dry” setting, and have regular maintenance performed (minimum 3 times a year).
Need for a Car: Outside the Periferico (loop around the city), a car is vital for most errands.
Rental Competition and Process: Long-term rentals are competitive and go very quickly. When you see a property you like, make a deposit. It’s critical to decide quickly because it’s highly likely the property will not be available if you decide to “shop around.”
Life in Mérida™ Real Estate clients: we show when you are TWO WEEKS away from move-in date. Rentals go fast and this is the time-frame that we’ve determined is in your best interest in order to find the right property based on availability.
To Sum It Up
Exceptional Safety: Mérida is consistently ranked as one of the safest cities in Mexico, offering peace of mind for residents.
Affordable Living Costs: The cost of living is lower than in many U.S. and European cities, especially for groceries, dining, and local services.
Rich Culture & Events: Mérida is a cultural hub with free weekly events, concerts, museums, and a deep sense of preserved Mayan and Spanish history.
Historic Architecture: Renting in the Centro Histórico offers the chance to live in beautifully restored colonial homes with high ceilings and inner courtyards.
Excellent Healthcare Access: Mérida offers high-quality, professional, and affordable medical and dental care compared to costs in the U.S. and Canada.
Proximity to Day Trips: It’s a perfect base for weekend trips to the beach (Progreso is 30-40 minutes away), Mayan ruins (Chichén Itzá, Uxmal), and cenotes.
Friendly Expat Community: There is a large, well-established, and active community of expats, making it easier to network and find help.
Incredible Local Cuisine: The food scene is outstanding, offering unique and distinct Yucatecan cuisine found nowhere else in Mexico.
