For condominium owners, common area maintenance and security is handled by each building’s Condominium Owners Association (HOA). Fees are paid usually monthly or quarterly.  So, homeowners and condominium owners, who will be away from their property for any length of time, may want to consider a property management company. Ask your Real Estate Puerto Vallarta agency.

Insurance

Diverse types of insurance — including personal belongings, flood, fire and earthquake — are already available in Puerto Vallarta at a reasonable cost. So, all types of policies can be written to pay claims in U.S. dollars.   Your NuHome Mexico sales professional will have recommendations on several of the strongest and most reliable insurance companies in the area and can help you set an appointment. 

Financing

Real estate purchases in Mexico are normally cash transactions.  In most cases, purchasers need to supply their own financing through U.S. sources. (e.g., Equity Loans, Second Mortgages, Personal Lines of Credit etc.). There is now a possibility to get a loan through US Financial Institutions.  And, there are now a few mortgage brokers active in our area. Please ask your NUHome Mexico sales professional if you would like to explore this route.

Real Estate Puerto Vallarta – Rental Potential

Addicionally, in Puerto Vallarta and the entire Bay of Banderas, there is a very strong rental market for both homes and condos, indeed. In fact, our NUHome Mexico Rental Manager can provide a full range of rental services for your property. So, quality properties, which are competitively priced, can expect to rent at least as well as good hotels, which average occupancy of 50 to 70%.

Real Estate Puerto Vallarta – About Property Value

And the question most asked by foreign purchasers is “Will my property increase in value?”. Furthermore, short-term property speculation is not a concept that can be readily applied to the Mexican real estate market.  Traditionally, buyers have purchased properties in Puerto Vallarta for NUHome, retirement or future retirement purposes and not to increase personal wealth through speculation. In most cases it is necessary to pay all cash, in some cases with seller financing and now through some US loans available in some cases. Increasing housing quality and growing demand have caused price escalation over the last ten years and, as a result, owners in the desired areas are seeing rising property values.

 So, “Am I getting a good deal?”  The answer is yes – if you compare what money will buy, in relative terms, to the housing market outside of Mexico. Remember that a buyer’s concept of ‘value’ and ‘price’ here in Mexico encompasses more than mathematics: it includes natural beauty, weather, safety, cost of living, and quality of life.