Can I Own the Land?
Unless you are a Mexican national, you cannot legally own the land within the "Restricted Zone" of 100 km (about 60 miles) from the border or 50 km from the coast. If this is a setback for you, I recommend you contact one of the several real estate companies in Rosarito and ask about properties with a Fideicomiso or Bank Trust under which the land you purchase is held in trust by a bank and you are the trustee with all rights and privileges of ownership for 50 years, renewable once.
For many of us with limited liquid funds (most Baja property deals are cash only), another viable option is to look into one of the several stable, secure campos located beachside up and down the coast. Be warned, there are well-run stable campos and others with questionable ownership and poor-quality maintenance. The only way you can know is to do some due diligence and talk to people who have been in the area for a long while.
Campo Torres, for instance, has been held by three generations of the family since its late '60s inception. The daughter and grandsons of the original owner are current managers and are on-site five days a week. One son is a full-time resident and is available to homeowners should an emergency arise. A few other campos that I am aware of with good stable management are Renes, Popotla, Medio Camino, and Rene Renosa. All are gated communities with involved owners and I personally know residents of each community. Do you own the land? No. But you own your own home with rights to sell and pass along to beneficiaries. Think of a campo as similar to a mobile home park in the U.S. In addition to the purchase price of your home, you pay a monthly or annual land lease fee. These vary by campo and lot, but in Campo Torres, the annual land lease runs from about $5,000 to $6,000 per year, paid annually.
What is the Advantage of Paying a Land Lease or Obtaining a Bank Trust Property?
It comes down to affordability, or how much upfront money you have available. You can purchase a well-built and maintained beach home for a lot less than a similar property in a bank trust community, and thousands less than in San Diego just a few miles north on the same ocean. The lease payment could be similar to or cheaper than a property tax payment in California. Yes, you pay an annual lease, but you have to pencil in how many years it would take paying the lease to pay for the higher-priced home elsewhere. And, many of the bank trust communities have the annual bank fee plus HOA fees. Check out the prices on this website and compare them to homes listed on the various real estate sites in the area. Unfortunately, the Baja area does not have the availability of the standard US mortgage. The banks that do have lending services will offer a much shorter payoff period with expansively higher rates.