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Month: July 2023

FAQ

Info About Health Insurance in Mexico 

Although sometimes people don’t prioritize their health, having a current health insurance policy is very important. If not, you can end up facing financial problems if you become sick or have an accident and do not have coverage.

If you are planning to travel or even move abroad, make sure you have the appropriate health insurance policy in place. Travelers and expats that move to Mexico should make sure they have current health insurance policies during their stay.

If you want to buy a luxury vacation home on the beach in Mexico, check out Villa La Estancia which is a hotel-condo concept. They have luxurious beachfront properties in Nuevo Nayarit and Cabo San Lucas. Plus, homeowners have access to world-class resort-quality amenities and services, too.

Whether you plan to visit Mexico or move there, read more below about info about health insurance in Mexico. 

Info About Health Insurance in Mexico 

For starters, the first step is to determine whether you need travel health insurance or a long-term policy. For expats, think about how much time will be spent in Mexico. Expats that only live at their second home part-time may be able to use travel policies when they visit.

However, for people who plan to live in Mexico most of the year, it is best to buy a long-term policy. In most big cities and tourist destinations in Mexico, there are high-quality hospitals and excellent doctors.

Plus, health insurance policies are very affordable for foreigners who are living outside their home country. If you own a second home in Mexico, a long-term health insurance policy is ideal.

Private health insurance in Mexico is not expensive, and the hospitals and doctors in top destinations such as Puerto Vallarta and Cabo San Lucas are excellent.

This is the Expat Dreams in Mexico.

Travel Insurance Policies

Next, if you are planning on vacationing in Mexico, it’s a wise decision to buy a temporary travel health insurance policy. The temporary insurance will usually cover emergency expenses in Mexico which is very important in case of an accident or sudden illness.

However, most travel health insurance will not cover any pre-existing conditions or doctor visits. Instead, when compared with temporary coverage, long-term health insurance will usually cover doctor visits, prescriptions, and emergencies.

Some long-term health insurance companies may even cover pre-existing conditions. In general, travel health insurance policies have lower limits than long-term health insurance.

This article may interest you, Move to Mexico Tips (2023 Update).

puerto vallarta travel

In 2023, many major health insurance companies currently have working relationships with physicians and hospitals in Mexico. Therefore, it should be easy to file a claim if needed.

Lastly, some travel health insurance policies will not cover all costs due to an accident so check your policy for details.

If you’re planning to vacation in Mexico or move there full or part-time, make sure you always have health insurance coverage. Remember, if you want to invest in luxury beachfront real estate in Mexico, contact us at Villa La Estancia.

We have solidly constructed beachfront residences that are spacious, elegant, and luxurious. Homeowners love our unique hotel-condo concept properties that also come with world-class resort quality amenities and the best services, too.

Right now, we have properties in two of Mexico’s most popular locations, Nuevo Nayarit and Cabo San Lucas. Qualified homebuyers can also participate in our Try and Buy Program which allows prospective homebuyers to enjoy a vacation at a beachfront home in paradise before they buy.

Contact us today to learn more as inventory is limited.

by VLEAdminRE,
Real Estate

Real Estate Companies in Mexico 

Would you like to learn more about real estate companies in Mexico? In general, real estate companies worldwide employ individuals to sell properties and find properties for prospective homebuyers and sellers.

In 2023, real estate agents in Mexico are an important part of the country’s economy as the real estate industry is booming. Also called realtors, real estate agents in Mexico perform the job of connecting buyers and sellers of properties for sale.

They oversee many processes and paperwork that is required so that each real estate transaction is completed correctly. Do you dream of buying real estate in Mexico? If you do, you aren’t alone because many expats are investing in vacation homes and second homes in the country.

In the meantime, keep reading more below about real estate companies in Mexico.

Real Estate Companies in Mexico

Over the last few years, the real estate market in Mexico has been really booming. Currently, the real estate forecast for Mexico in 2023 estimates that 13.93 billion dollars will be spent this year on property transactions.

Likewise, that figure is expected to reach 17.07 billion dollars in 5 years which would be a growth of 4.14% from 2023 to 2028. Are you curious why the real estate market is doing so well in Mexico right now? In general, the hot market is driven by the high demand for housing from new residents including nationals and expats who have moved to Mexico.

In fact, prices for new houses make up 40% of Mexico’s total housing market and rose 12.8%  in the last year. In addition, Mexico’s largest real estate developers raised their average house prices during 2022, some raising prices by as much as 30%.

Get To Know Villa La Estancia Cabo.

How Can I Find a Good Realtor in Mexico?

Are you thinking, how can I find a good realtor in Mexico? It’s always best to do your research and work directly with an agent or company with a good opinion.

In addition, you can use a reputable property developer that has in-house staff that will assist homebuyers in the purchase process such as Villa La Estancia. Referrals from a friend or family member who has purchased property in Mexico are also helpful.

If you can make sure you hire a professional and trustworthy realtor, the overall home-buying experience will be much better. 

Did you know that it is safe to buy property in Mexico for foreigners? While there are a few special rules that need to be followed when buying property, they can legally buy and sell property in Mexico by using a bank trust which we’ll discuss more below.

Lastly, Mexican real estate has a great deal of upside potential and is expected to increase in value over time, especially beachfront real estate. 

Check out When to Buy Real Estate in Mexico.

Mexican Real Estate Websites

Mexico does have some real estate websites that are useful tools when searching for property. In terms of real estate websites, some websites in Mexico that are similar to Zillow and Realtor.com from the States include Caribe Luxury Homes, Point2Homes Mexico, and Inmuebles24 México.

Each website has various features that can be adjusted to meet specific buyer preferences and needs. Out of the three, inmuebles24.com ranked number 1 as the most visited Real Estate website in Mexico in May 2023. Vivanuncios.com.mx and lamudi.com.mx are additional popular real estate websites in Mexico, too.

Likewise, there is an MLS system in Mexico, but it does not have all the available listings usually found on sites like Zillow or Realtor.com in the States.

By the way, we recently Re-validated Preverisk Certificates in Villa Group Resorts.

Bank Trust Info for Foreigners

In order to legally own property in Mexico that is at the beach or close to a border, foreigners must set up a bank trust to hold title to their property. Also known as a fideicomiso, the legal life of the faith is for 50 years and can be renewed.

Typically, Fideicomisos cost about $1600 dollars to set up, and around $600 dollars a year to maintain. In terms of realtor fees, Mexican realty agents tend to charge between 5% and 8% of the home’s sale price for their commission.

In addition to realtor fees, a Mexican sales tax (IVA) of 16% will also be charged to the total amount. For example, if the agent’s commission is 5%, the total tax-inclusive payment will be 5.80% of the final sales price.

As far as real estate taxes in Mexico, a Property Acquisition Tax (ISAI) must also be paid when buying property. While these tax rates vary by Mexican state, the cost ranges from 2% to 5% of the total property value.

We hope you enjoyed this article about real estate in Mexico. If you want to buy a home of your own, check out properties in top coastal destinations such as Puerto Vallarta and Cabo San Lucas. We are happy to offer homebuyers a unique hotel-condo concept property known as Villa La Estancia.

Our solidly constructed development is an award-winning resort and also has a limited number of private beachfront residences for sale, too. Homeowners love having their very own home at the beach, along with access to world-class resort amenities and services.

We have multiple pools, jacuzzis, a spa, a fitness center, delicious onsite restaurants, room service, and so much more.

Contact us today to schedule a property tour with our in-house realty team if you are in the market for a vacation home at the beach. Your dream home in paradise is only missing you!

by VLEAdminRE,
FAQ, Real Estate

Are Houses Expensive in Mexico?

Have you been wondering if houses are expensive in Mexico? Recent statistics have shown that the average cost of real estate in Mexico’s capital costs around three million pesos, which is $160,000 USD.

This price is nearly double the national average, but it is still much less than buying a similar house in the United States and Canada. There are different factors that determine the price of a home such as the size, location, bedroom, and bathroom numbers, and the size of the lot.

If you own real estate property in a tourist destination on the coast, the price would be significantly higher due to the demand of people wanting to live on the beach.

Villa La Estancia is an excellent choice if you want luxurious beachfront real estate in a safe and peaceful setting. Meanwhile, keep reading below to learn if houses are expensive in Mexico. 

What Factors Determine a Home’s Cost?

To begin with, generally, the biggest factor to determine the price of a home is the location. If a location is desirable, then it will cost more than if the home was in a location that isn’t as sought out.

For instance, if a home is located on the beach or nearby the ocean, it is usually worth more than a home that isn’t. In addition, if the home has numerous bedrooms and bathrooms, then the price will be higher in value.

Also, if the home has a swimming pool, a garage, a nice yard, and other features, then the house’s value will increase. Likewise, if the house has extra amenities and services such as with a condominium complex or it is in a gated community, these types of properties tend to be more expensive. 

This article could be helpful for you: When to Buy Real Estate in Mexico.

Are Houses Expensive in Mexico?

If you are wanting to buy property in Mexico, there are other costs that you need to consider. To begin with, before you buy any real estate in Mexico you should pay to have the property inspected beforehand.

This will let you know if the property has hidden damages or issues. You should also get a property valuation report too. The property valuation reports in Spanish are called “Avaluo” and they can cost from $200 to $300 USD this evaluation will be done by a reputable professional.

Once you have an agreement to purchase the property, you will need to pay closing costs. This term means the fees and charges to pay for the parcel to be transferred legally to you.

The closing costs can range from 5% to 10% of the sale price of the property, and these fees will include the Notary Public, sales tax, and other charges to secure the property transfer.

Read about Villa La Estancia and the values we have. 

Mexico’s Ongoing Property Costs

In Mexico, all property taxes will have to be paid annually or also known as “Predial”, which means property owners must pay once a year. Usually, the property taxes in Mexico are only several hundred dollars a year.

Also, if you have bought an apartment, condo, or penthouse, or your property is in a gated community, you will need to pay maintenance and service fees regularly. The fees go towards keeping the swimming pools, landscaping, gyms, and clubhouses clean and maintained.

There are also property associations that homeowners need to pay for big projects such as a new roof or major repairs. You need to know that maintenance and service fees can increase over time. Also, you are required to pay all utility costs such as electricity, water, gas, etc. 

You may be interested in The Benefits of Fractional Ownership.

Mexico Bank Trust Fees

Lastly, only citizens of Mexico can buy property legally that is within 30 miles (50 km) of the coast of the border of Mexico. If you are a foreigner wanting to purchase land on the coast or border, then the law in Mexico required your land to be held in the Bank Trust or in Spanish Fideicomiso.

The Bank Trust will be established once the property is purchased. There is a setup fee, plus yearly fees for this too. The set-up costs can range around $1,000 USD and trust fees can range from $500 to $2,000 USD yearly. 

Did you enjoy reading this article about if houses are expensive in Mexico? If you want to buy luxurious beachfront real estate in Mexico, the best choice is Villa La Estancia.

We are proud to offer the hotel-condo concept, so our homeowners have their own beachfront residence along with complete access to our luxury resort amenities and services. Currently, we have 2 locations in the country’s best destinations including Nuevo Nayarit just north of Puerto Vallarta and Cabo San Lucas.

Our private beachfront residences are spacious, elegantly furnished, and very comfortable. In addition, onsite amenities are world-class and include multiple pools, jacuzzis, a spa, a fitness center, room service, a front desk concierge, and delicious onsite restaurants.

Give us at Villa La Estancia a call today to book a dream vacation to Mexico and to learn more about our amazing beachfront residences for sale, too! 

by VLEAdminRE,
Destinations, Residences

Top 5 Places to Move in Mexico 

Are you dreaming of moving to Mexico? If so, you aren’t alone. In 2023, the number of foreigners moving to Mexico from other countries such as the United States, Canada, Australia, and Europe seems to be higher than ever.

The country is a top vacation destination and a great place to work, live, and retire, too. Mexico has natural beauty, a low cost of living, an excellent climate, rich culture, delicious foods, and so much more.

In addition, as more people are working remote jobs in 2023, even more people than ever are deciding to move to different places to live and work, including Mexico.

If you’re thinking about moving down south for a more relaxed and enjoyable quality of life, keep reading below for the top 5 places to move in Mexico. Perhaps your new life in paradise awaits! 

#1 Puerto Vallarta

For starters, Puerto Vallarta is our top choice of places to move to in Mexico. In 2022, PV received a record number of passengers that flocked to the bustling Pacific Coast city.

In recent years, Puerto Vallarta and Banderas Bay where PV is located have experienced unprecedented growth. PV is a popular place to move because of the area’s natural beauty, excellent restaurants, nightlife, and rich culture.

In addition to a warm and sunny climate, PV also offers residents an affordable cost of living and access to excellent health care. It is especially popular with remote workers who love that they can work and live in paradise.

Nuevo Nayarit just north of PV is a great place to live with wide, sandy beaches and a peaceful vibe. There, Villa La Estancia’s hotel-condo concept is a popular choice for a dream home at the beach. 

Check out When to Buy Real Estate in Mexico.

#2 San Miguel de Allende

Next, San Miguel de Allende is a charming colonial town once voted the “Best Small City in the World” award by Condé Nast magazine for 5 years.

People love the area’s excellent restaurants, great art scene, beautiful architecture, and lively international community. The city also enjoys pleasant spring-like weather during most of the year.

Currently, the real estate market is really booming and 2022 was the city’s most successful year in real estate sales over the last decade. In addition, the city is experiencing a changing demographic with younger, educated, and remote working families moving to San Miguel.

Be aware, Real Estate Scam Info: Read This.

#3 Riviera Maya

Thirdly, the Riviera Maya is a 100-mile stretch of white-sand coastline found on Mexico’s Yucatan Peninsula. Popular towns to live in include Tulum, Cancun, and Playa del Carmen.

In addition to white sandy beaches and turquoise Caribbean Sea views, the area is also well known for ancient Mayan ruins. The incredible archaeological sites including Chichen Itza are great places to learn more about the country’s rich history and culture.

There are also magical cenotes in the area which are natural swimming holes formed when limestone erodes to expose water below.

Tulum is popular with wellness-focused crowds and has a fantastic restaurant scene, and Playa del Carmen is best known for its nightlife and picture-perfect beaches. Cancun has great shopping and tons of high-end resorts and clubs. 

Frequent ask question: Is Mexico A Good Place to Retire?

#4 Los Cabos

Next, Los Cabos is considered one of the safest and most economically competitive areas to live in Mexico. Los Cabos is made up of two cities, San Jose del Cabo and Cabo San Lucas and the area is very popular with expats.

People that move to Los Cabos really appreciate the diverse landscapes that include beautiful beaches, dramatic desert terrain, and the beautiful Sierra de la Laguna mountain range. Also, the area is home to a UNESCO-protected biosphere reserve as well.  

You may be interested in this post: Invest in Cabo San Lucas Real Estate in Mexico.

#5 Mexico City

Last but not least, the country’s capital is a bustling metropolis that also has a rich history and culture. More foreigners are moving to the area with around 40 percent of real estate sales in Mexico City in 2022 bought by foreign buyers.

In terms of the most upscale and best neighborhoods to relocate to in Mexico City, Lomas de Chapultepec, Jardines del Pedregal, Coyoacán, Roma, Condesa, and San Ángel areas are very popular. Mexico City has stunning colonial-style homes and a vibrant art scene as well. 

Related article: All About Mexican Property Taxes.

As you can see, Mexico has excellent options in terms of where to relocate if you want to move to Mexico. If you decide to move to Puerto Vallarta or Los Cabos, check out Villa La Estancia.

Our luxurious hotel-condo concept property has 2 locations in these preferred destinations. In PV, Villa La Estancia is situated in the peaceful Nuevo Nayarit neighborhood which is just 15 minutes north of the PV airport in Banderas Bay.

Our spacious beachfront residences also come with access to world-class resort amenities and services, too. In Cabo San Lucas, Villa La Estancia is found on Medano Beach, one of the best beaches in the area.

Our homeowners really love the low-maintenance factor of owning a luxurious and solidly constructed beachfront residence at Villa Estancia. Contact us today to schedule a property tour as inventory is limited! 

by VLEAdminRE,
Real Estate

When to Buy Real Estate in Mexico  

Are you thinking about buying real estate in Mexico? Many people from other countries quickly fall in love with Mexico during a vacation and end up wanting to buy a vacation home or even move full-time to the country.

In terms of real estate, properties in Mexico are usually more affordable when compared with similar properties in the United States or Canada.

Plus, Mexico has a rich culture, warm climate, and tons of natural beauty that can’t be beaten. If you are wondering when to buy real estate in Mexico, there’s no time like the present as the cost of properties is typically on the rise.

If you want to learn more about the best real estate in Puerto Vallarta and the Riviera Nayarit area located in Mexico’s Banderas Bay on the Pacific Coast such as Villa La Estancia’s elegant beachfront residences, keep reading below. 

When is the Best Time to Buy?

If you are curious if there is the best time of year to buy real estate in Puerto Vallarta and Riviera Nayarit, you have come to the right place. Puerto Vallarta’s high season occurs during the winter months from November and lasts through April.

The end of high season is a great time for finding the best real estate in the area. Once the months of May and June arrive, the majority of expats and snowbirds have gone home for the summer. As a result, real estate agents will have less work and be able to provide better service for their clients.

In addition, it’s easier to schedule more property showings during the low season when properties are often vacant.

Also, due to less demand during the low season, you will find that you may have more flexibility when it comes to negotiating purchase prices or other contingencies in the purchase contract.

Be aware, read this article: Real Estate Scam Info.

puerto vallarta travel

Budget and Location

Next, a few essential things to consider when buying real estate in Mexico are your budget and location. In terms of budget, it’s essential to carefully examine your finances and only make offers on properties that you can afford.

In general, the majority of properties in Mexico are usually paid in cash as opposed to using a mortgage. Therefore, it’s important that you have the required capital to invest in real estate in Puerto Vallarta and Riviera Nayarit.

However, Mexico’s mortgage lending business is growing but mortgage interest rates in Mexico are still very high when compared to mortgages in other countries.

In addition, some high-end developments such as Villa La Estancia in the upscale neighborhood of Nuevo Nayarit offer in-house developer financing for qualified homebuyers. As far as location, you can expect to pay more for properties closer to the beach or within gated communities. 

You may be interested in the Try & Buy Program.

beachfront mexico

Vacation Home at the Beach

Lastly, it’s essential to think about how much time you plan to spend at your property. Some people are looking for a vacation home to visit a few times a year and other people want a full-time retirement home.

Also, think about whether you plan to rent out your home when not in use or not. Onsite amenities such as pools, fitness centers, restaurants, and 24-hour security are important perks many people look for when buying real estate in Mexico.

If you decide to rent out your property as a vacation rental, these amenities make it more attractive and will allow you to charge more per night. Regarding the deed of property, Mexican law mandates that foreigners will need to set up a bank trust to hold title if they buy property on the coast or close to the border.   

Whether you want a full-time abode or a vacation home at the beach, check out Villa La Estancia. Situated in the peaceful neighborhood of Nuevo Nayarit just 15 minutes north of the PV Airport, Villa La Estancia is a hotel-condo concept property that is a great option.

We offer spacious beachfront residences that come fully furnished and with quality finishes. In addition, we have onsite amenities and services that make it a pleasant place to spend time.

Also, the property is low maintenance so it’s ideal for homebuyers who don’t want to worry about handling repairs and upkeep.

Are you ready to learn more? If so, contact us at Villa La Estancia today to book a vacation to Mexico. During your stay, make sure to schedule a property tour of our luxury beachfront residences as they have a limited amount of properties still available for purchase. 

Here are some reasons why These 4 Hotels Have a Certificate of Excellence from Tripadvisor.

by VLEAdminRE,