Why Hire an Interior Designer to Decorate Second Homes?

If you want to do a design project for your second home, then an interior designer is often the way to go. So don’t worry about what you think the cost will be to hire a professional. If you have a second home in Mexico or some other foreign country, then you will benefit from the knowledge and resources a local interior designer can add to your project.

A sound decision for your second home

Hiring an interior designer to decorate your second home could be one of the best decisions you ever make in order to get the most out of your purchase. Even if you have no concept of where to begin when it comes to interior decorating, you at least have some idea of what you would like to see. You just don’t have the hours in the day in your schedule to make those things come to pass. That’s where your interior designer comes in: the designer has the time to make your ideas come to life in your second home.

Budget for an interior designer

Interior designers are unparalleled when it comes to sticking with a given budget to decorate your second home. They are already highly knowledgeable about brand comparisons when it comes to home products, so they cut out the unnecessary time it takes trying to find the best bargain. The planning an interior designer does will allow you to carry out plans that will eliminate wasted money. So the cost of hiring an interior designer is well worth the while because they increase the property value of your second home investment.

Define Your Style

Efficient interior designers will analyze your proposed ideas and turn them into an action plan that they will carry out to completion. It’s the designer’s job to decide the order of the steps in carrying out the decorating plans, and they will provide sound advice on which parts of your concept need revising if needed. The artistic talent of interior designers allows them to orchestrate a strategy that will allow each space to be utilized to its greatest potential while sticking within our budget.

Be creative

Second homes are your opportunity to be creative. In contrast to your permanent home where you may have other needs and purposes, a second home can be much more riské. An interior designer can help you step outside the box.

Backstage Access

You will definitely have a style that will be unique to your tastes when hiring an interior designer. That’s because interior designers are known for having insider information about resources not made accessible to the public. So your design will have items that many have yet to see in the retail outlets. If you get one of those highly experienced interior designers, you will benefit from their network of trusted distributors they have worked with over the years. So you can rest assured that you will have authentic electricians, plumbers, other general contractors handy that you want have to go find yourself. Therefore, your interior designer will be your best consultant when it comes to saving time and money on your second home project.

Tell a Visual Story

Your home is sure to have a unique visual design because a lot of interior designers think creatively in ways most people don’t realize. Interior designers have that knack for seeing all the potential a particular space can have, and they are able to conceive these ways and bring them to fruition in ways you never thought possible. Your home will have that “awe” essence if you hire a professional designer.

Recommended article: Law of Attraction and Second Home Hunting

Natural History Museum in Cabo San Lucas

Children and adults of all ages are sure to have a whale of a time exploring the exhibits and displays at the Natural History Museum in Cabo San Lucas. Locally known as the Museo de Historia Natural in Spanish, this museum can be found in the heart of the downtown area in Cabo San Lucas and is housed in a space that once an elementary school (named Artículo 123 Naciones Unidas or United Nations Article 123)

The museum itself, however, opened its doors on the 9th of October 2006 and has been enriching the city with its culture and displays ever since.

A Bit of Everything

You will definitely find that some topics are of more interest to you than others, but the museum has a good variety of displays and exhibits to enjoy so you shouldn’t be pushed to find something you do enjoy. If fossils are your thing, for example, you will love the displays dedicated to paleobotany and paleoanthropology as they contain fossilized animal remains (mammal, reptile and bird) as well as plant fossils. You can also look forwards to exhibits on astronomy, geology, and paleontology.

Cabo San Lucas History Lessons

If you’re passionate about history and you love to learn about the places you visit then you will love the exhibit which celebrate Cabo san Lucas! There is even an exhibit which features portions of a skeleton belonging to a Pericú individual who belonged to an ethnic group which lived in the Southern portion of Baja California.

The Water Connection

The Ocean is a huge part of the history and culture of this area, and as such there is another section of the museum which deals wholly in all things to do with the marine history of the area. The waters surrounding Cabo san Lucas are teeming with life, and play host to large numbers of migrating sea creatures including several species of whale, dolphins, and even sea turtles, and the museum has plenty of exhibits which education and showcase this fact.

The Museum of Natural History in Cabo san Lucas is a great place to see and take your children and grandchildren. Life in Cabo can be cultural too!

Recommended article: What to Do in Cabo San Lucas

2018 – The Year Ahead for Real Estate in Banderas Bay

It doesn’t take a real estate whiz kid to notice that the property market in Banderas Bay is pretty buoyant at the moment; with so much construction going on in the area, too, you can tell that local professionals have noticed this trend and are catching the wave! As a result, real estate publications in Banderas Bay are also on the rise; everyone is looking to capitalize on this movement.

Banderas Bay Real Estate Prices Beginning to Rise

If you’re looking to invest in a Mexican home in Banderas Bay this is the time to do so; prices for real estate in Banderas Bay have risen once and are set to rise again! The AMPI (Banderas Bay’s official real estate association) estimates a 4% increase in closing prices between this year and last year. This is a real wake up call for those looking to buy real estate in Banderas Bay, but a great sign for those who already own homes in the area.

Banderas Bay Real Estate is Trending Again

It should really come as no surprise that Banderas Bay is experiencing this sudden boom; the area is already a huge vacation destination, and is only 3 to 5 hours travel from home for the average American or Canadian. As such the area has a thriving ex-pat community in Banderas Bay to go with its stunning views, beautiful coast, and varied amenities.

Here you can find golf, watersports, shopping, bars, theatre, art, music, and, of course, local crafts all in one location. Better still, the weather is warm, dry, and balmy pretty much all year round; this is the perfect place to set up a home away from home.

Quality Guaranteed

The dash for real estate in Banderas Bay, so to speak, is really just beginning, but it is still important to be clear in what you want from your property. If you’re looking for a stellar vacation home you could consider the Villa La Estancia properties which are on offer.

These stunning residences are built to the highest quality and have access to the resorts 5 star facilities and great location! As a long time investor in this location, Villa La Estancia is committed to providing luxury and value in a way that is beneficial to the local area. When you buy with Villa La Estancia you get the best of both worlds.

Is dollar king for Mexico’s real estate market?

If you are thinking about purchasing real estate in Mexico, you may be wondering about which currency you will use to make the transaction. While the official currency in Mexico is the Mexican peso, you can still carrying out transactions for Mexico’s real estate market in dollars in top tourist areas such as Puerto Vallarta and Cabo San Lucas. There are advantages and disadvantages to this, as will be discussed below.

Is dollar king for Mexico’s real estate market?

Mexican Pesos

Technically, it is not legal in Mexico to use foreign currency to pay for goods; however, in practice, areas where there is a large community of expats and foreign investment will find that prices for high cost items like real estate are quoted in US dollars. Therefore, Mexico’s real estate market allows buyers to purchase properties with US dollars so long as both parties agree. However, you must remember that, even if you pay for your property in US dollars, the price quoted on the title deed to your property and used for calculating your property taxes in Mexico will be documented in Mexican pesos.

Remembering that the value of your property is recorded in pesos is important when navigating Mexico’s real estate market, particularly when you come to sell your property. For example, if the Mexican peso continues to devalue against the US dollar—as it has in the last few years— when it comes to calculating your capital gains taxes on your house, you may find that you will be subject to higher taxes, even if the equivalent sale price in US dollars is the same as when you bought it.

Let’s say you bought real estate in Mexico three years ago when you would have got 16 pesos for each US dollar, and it cost you the equivalent of 100,000 US dollars when you bought it, which would be 1,600,000 pesos. Today, one US dollar is worth between 18 and 19 pesos, which means if you were to sell your house for 100,000 US dollars, that would be at least 1,800,000 pesos, so you would pay capital gains on 200,000 pesos even though your property is not worth any more in dollars. You will essentially pay taxes on the profit that it appears you have made in Mexican pesos, even if there is no profit in real terms when you convert the price into dollars.

US Dollars

There are very real advantages to advertising your property in US dollars in Mexico’s real estate market in popular tourist areas, regardless of whether your buyer ultimately pays in US dollars or Mexican pesos. The reason for this is that historically the US dollar has been more stable than the Mexican peso and is less open to fluctuations during the selling process.

Selling real estate in dollars is attractive for foreign investors, though some Mexican nationals may be deterred from making an offer on your property as it becomes complicated when it comes to signing, particularly if the buying is relying on a Mexican mortgage, which will be calculated and awarded in Mexican pesos. If you insist that the offer price be paid in dollars, local buyers will not have a clear idea how much the property will cost them until the day of the signing. Such variables can lose a sale. Often, the best compromise is to advertise real estate in US dollars but be open to accept Mexican pesos or US dollars in payment.

If there is one fact you should take away from this article about Mexico’s real estate market it would be to remember that your title deeds will be quoted in Mexican pesos regardless of whether you paid in Mexican pesos, US dollars or coffee beans!

Read more: Introduction to Types of Real Estate in Mexico

Read this before you Buy Real Estate in Banderas Bay

If you are planning on purchasing real estate in Banderas Bay, there are a number of procedures and considerations that are worth reading up on to ensure a smooth experience. The following are some of the things you should know before you buy real estate in Banderas Bay.

Closing process when you buy real estate in Banderas Bay

The closing process to buy real estate in Banderas Bay is a little lengthy. It takes between 30-45 days to ensure all of your paperwork and escrow accounts are set up. The process must be carried out by a local public notary in Banderas Bay. The buyer pays the closing costs while the seller pays the capital gains taxes and real estate fees. Buyers and sellers do not need to be present at closing because both can be represented by their Sales Associate via a power of attorney.

Property Taxes for real estate in Banderas Bay

You can expect very low property taxes compared to USA and Canada when you buy real estate in Banderas Bay. The rate is usually around 0.08% of the assessed value and is known as ‘Predial’ in Spanish. House taxes should be paid yearly.

Insurance

Mexico has all the needed insurance for your property including liability, damage, property, and earthquake insurances. These are all available at low costs.

Property Managers

After you have bought a property in Banderas Bay, you might want to choose a property manager to look after your place. Especially if you will be away from your home for any length of time. As a second home homeowner in Banderas Bay, considering a property management company will be necessary, unless you have friends or family who can help you out.

Financing

Real estate transactions in Mexico are usually paid in full. Mortgages for foreigners are only available if you are a permanent resident working and paying taxes in Mexico. If you need extra financial aid, you might want to consider some sources back home like equity loans, second mortgages, personal lines of credit, among others. Otherwise, you will be expected to pay in full.

Rental Potential

One of the advantages, when you buy real estate in Banderas Bay, is that you can expect good rental potential. Quality properties in Banderas Bay are competitively priced. You can expect to rent your property as well as good hotels with an average occupancy of 60-80% annually. Take note that Banderas Bay enjoys a very strong rental market for both homes and condos.

Equity

Short-term property speculation is not a concept readily applied to the Mexican real estate market; but if you own in the most desired tourist areas, you will certainly see a rise in property values. Most buyers who have purchased real estate in Banderas Bay usually want to enjoy their property as a vacation home.

Are you getting a good deal?

Definitely yes! When you compare what your money could buy, in relative terms, with the housing market outside of Banderas Bay, you can assure of getting a good deal. Make sure you have considered the following factors like local beauty, ambiance, safety, cost of living, and life goals.

Maintenance

Don’t forget to calculate a budget to maintain your property in Banderas Bay. You should consider general wear and tear, roof tiles and plumbing etc. You also need to pay any maintenance fees on common areas, if applicable. Common area maintenance and security is usually handled by each building’s Condominium Owners Association.

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