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FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Residences, Riviera Nayarit

Riviera Nayarit Real Estate Tips

Are you interested in owning Riviera Nayarit real estate? Just north of beautiful Puerto Vallarta in Jalisco, lies the up and coming state of Riviera Nayarit where you can find the luxurious Villa La Estancia. With many great Riviera Nayarit real estate options available for those individuals dreaming of a vacation home at the beach, Riviera Nayarit real estate could be in your future. Read below to learn how you can find the perfect Riviera Nayarit real estate property at Villa La Estancia.

Time To Buy?

In Riviera Nayarit and Puerto Vallarta, it is well known that there is a high season and low season that drives the tourism industry. High season is considered the cooler months between November through April. Low season in Puerto Vallarta and Riviera Nayarit is considered the hot and humid months between May and October. The seasonal tourism trends can have an effect on Riviera Nayarit real estate prices as well. With the increased demand and traffic that occurs during the high season months, the best time to buy could be at the end of high season or during low season. There will be less qualified buyers physically in town at that time that could be potential competition against you for a Riviera Nayarit real estate property that you want to buy. Less buyers means it will be easier to find the home of your dreams. In addition, many Riviera Nayarit real estate owners travel during the low season when temps are soaring, so more properties will be vacant which makes it easier to schedule multiple viewings in a short period of time.

Find An Experience Realtor

Anytime you are in the market for a new home, an experienced and reputable realtor is an invaluable resource to guide you through the purchase process. With Riviera Nayarit real estate, realtors can help maneuver the somewhat complicated process of buying a home in another country. Experienced Riviera Nayarit real estate agents will know the available properties that fit your search criteria, and they can help you securing financing if needed. Especially with the complications of having purchase contracts in Spanish, it is crucial to have a trustworthy and honest Riviera Nayarit real estate agent working with you. At Villa La Estancia, we have professional and motivated in-house brokers that can help you with your search to find the perfect residence right for you. Make sure to ask for referrals, and do your homework to ensure you only enlist the services of a qualified realtor.

Consider Your Riviera Nayarit Real Estate Budget

One of the most important considerations when buying a Riviera Nayarit real estate property is to make sure you create a budget. In Mexico, most properties are paid for in cash instead of obtaining a mortgage loan. It can be difficult to obtain financing in Mexico, and the interest rates are significantly higher than typical mortgage loans in the United States or Canada. Because of this, it helps if you are able to buy a property with cash if you want to make a Riviera Nayarit real estate investment. If that is not an option, luxury Riviera Nayarit real estate properties such as ours at Villa La Estancia in Nuevo Vallarta are pleased to be able to offer in-house developer financing. This is hard to find in Mexico, so a great option for those individuals who want the best, but can use a little help with their cash flow. We at Villa la Estancia is dedicated to making your homeowner dreams come true.

No matter what type of Riviera Nayarit real estate you choose, make sure you use a great realtor, buy at the right time, and adhere to your budget so that you do not overextend yourself and ruin your Mexico beach home dreams. Contact us at Villa la Estancia today by visiting www.villalaestanciarealestate.com. We are ready and willing to help you in your home search so you can start making incredible life memories now.

Related articles:

15 Great Reasons to Live in Riviera Nayarit

Riviera Nayarit Real Estate For Weekend Getaways

by VLEAdminRE,
FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Riviera Nayarit

2018 Puerto Vallarta Real Estate: Villa La Estancia

Many people dream of owning a second home or relocating to beautiful Mexico. Are you yourself in this category and ready to start educating yourself on where to find the best luxury real estate in Mexico? With excellent year-round weather, great shopping and dining options, and affordable health care, real estate in the Puerto Vallarta area is a solid investment. Read below to learn a few tips about Puerto Vallarta real estate and where to find the cream of the crop.

Can Foreigners Own Puerto Vallarta Real Estate?

First off, are you not sure if you can even own Puerto Vallarta real estate as a foreigner? The Mexican Constitution does say that foreigners cannot directly own land within 100 kilometers to the border, or 50 kilometers along the coastline. However, there is a legal way to still own property by establishing a bank trust which is known as a Fideicomiso in Spanish. By having a bank trust, non-Mexican citizens can legally own Puerto Vallarta real estate and enjoy all the standard benefits a citizen owning Puerto Vallarta real estate would have. Bank trusts are established for up to a maximum term of 50 years, and then they will be renewed automatically for a new 50 year term. Notaries can assist potential Puerto Vallarta real estate buyers to establish a bank trust so foreigners can enjoy the same ownership rights as Mexican citizens.

Puerto Vallarta Real Estate Options

Throughout Puerto Vallarta and the neighboring community of Nuevo Vallarta in Riviera Nayarit, there are many real estate options available. The question is, where do you see yourself? Do you truly want to live the good life and have all the amenities and services that a condo-hotel can offer, or are you willing to manage and repair your single family home on your own? Do you want a condo or a sprawling villa? Today, most people relocating to Puerto Vallarta or buying a second dream home decide that their preferred Puerto Vallarta real estate is a condo-hotel so they can have the luxury of owning Puerto Vallarta real estate without the hassle of maintenance that a standalone properties entails. Puerto Vallarta real estate is centered on the idea that most people move here to enjoy the good life and take time to relax and do what they want to do
.which usually isn’t cleaning or dealing with frustrating repairs! Condo-hotels like the luxurious Villa La Estancia in Nuevo Vallarta ensure that your investment in Puerto Vallarta real estate will give you all the valuable relaxation time that you do deserve. Visit Villa La Estancia Riviera Nayarit today to see what properties are available right now as there is limited inventory due to high demand.

Top Puerto Vallarta Real Estate: Villa La Estancia

Puerto Vallarta is an amazing city with so much to see and do. From its charming cobblestone streets and cultural activities to its world-class shopping and dining options, you will be hard pressed to run out of stuff to do. However, many people are finding that living amongst the hustle and bustle of city life is not for them. Looking for a more tranquil environment that is just a hop, skip and a jump away from the action? Consider the award-winning Villa La Estancia. With spectacular views, luxurious finishes and fairly close proximity to downtown Puerto Vallarta, Villa La Estancia real estate offers everything you could ever dream of and so much more. Situated about 20 minutes north of Puerto Vallarta, Villa La Estancia offers Puerto Vallarta real estate and private residences where you can enjoy the quiet and privacy in your own home. With exclusive access to the high-end services and fabulous amenities, Villa La Estancia will have you feeling pampered and like a VIP every time you come home. Situated in the tranquil Nuevo Vallarta community directly on one of the best beaches in Riviera Nayarit, the award-winning Villa La Estancia offers elegant and exclusive private residences that combine upscale residential ownership and luxury vacation experiences into one. Villa La Estancia residences are constructed so you can make the most of the indoor-outdoor Puerto Vallarta lifestyle you have been dreaming of. You will no doubt never get tired of gorgeous views from your private and spacious terrace at Villa La Estancia.

Visit Villa La Estancia’s website today to see what you’ve been missing. An investment in the award-winning Villa La Estancia is a chance to call an exclusive Puerto Vallarta real estate your own home. Don’t let time pass you by
.seize the moment and invest in your own piece of paradise.

See Residences Close Up

by VLEAdminRE,
FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate

Mexican Property Insurance: What To Know

Owning real estate in Mexico is a dream for many individuals. The laid back lifestyle, beautiful climate, and delicious food make it an ideal place to own a second home or to enjoy retirement. Part of becoming a homeowner in Mexico is making sure you are protecting your investment accordingly against unforeseen circumstances and catastrophic events. A key preventative measure to keep yourself in a safe position is to consider property insurance. Property insurance in Mexico, which is different from title insurance, has many differences when compared to property insurance in the United States or Canada. Here we will discuss property insurance in Mexico and what you need to know.

Mexican Property Insurance: What to Know

Mexican property insurance offers varying levels of coverage that may be different than what you are used to back home. The policy wording will be different, and some things you may consider standard coverage may not be so in Mexico. In order to help foreigners and provide more comprehensive coverage, many property insurance companies based in the United States have begun offering Mexican property insurance policies that are more similar to US and Canadian policies. Mexican insurance companies underwrite the policies so it is valid under Mexican law. Since real estate is one of the most expensive things people can own during their life, it is important to properly protect your investment against an unforeseen event or natural disaster so you will not risk losing a large sum of money. Let’s discuss a few important questions to consider when you are deciding whether to purchase property insurance from a Mexican insurer or from a specialist property insurance company based in the United States.

U.S. Based Property Insurance Specialists

Unless you are proficient in Spanish and feel comfortable dealing with claims in another language, most expats are recommended to purchase a property insurance policy from a US based insurer that specializes in policies for foreign home ownership in Mexico. This is the best idea because if you ever have to file an insurance claim, it will be much more simple if you are working with a policy in English. Any insurance claim related situations can be stressful no matter how great your policy is, and the added stress of not understanding the wording in Spanish is something you can avoid. In addition, the majority of US based property insurance will have added coverages not available with Mexican insurers. For example, third-party liability coverage is standard for most US based policies, and is usually not available with Mexican insurers or comes with an additional premium. Third-party liability insurance is important to protect you from lawsuits against you in Mexico.

Types of Structures to Insure

As many homes in Mexico are comprised of multiple structures including guest houses, studios and casitas, make sure your property insurance policy covers all structures on the property. In addition to covering the main structure of your home, you may have to add the options to cover all additional buildings on the property so make sure your policy clear states which buildings will be included. Any stand-alone structure is considered an additional building, so make sure that your property insurance policy clear states which buildings on the same property are covered. It is important to recognize that potentially risky structures such as palapa roofs and wood-framed buildings are usually excluded from all policies. If you want to insure those structures as well, be aware you will likely have to pay a high premium to have them included so you will need weigh the pros and cons of potentially leaving those structures out of your policy. Depending on the cost to replace or repair versus the additional cost to include them on your policy, it usually makes sense to leave those structures out of your policy.

Vacation Rental Insurance

Another important thing to consider when looking for property insurance is to consider a renter’s liability coverage if your home doubles as a vacation rental. Especially if you rely on rental income to support your quality of life, you should make sure to include coverage to protect yourself from a loss of use if something happens to your home. This additional coverage will help cover living expenses if your rental becomes damaged and cannot be rented until it is repaired. In general, this type of renters liability coverage is excluded on most standard policies, so make sure you confirm exactly what type of coverage is available prior to purchasing a policy. You may have to pay an additional premium to have the renter’s liability element included, but it is a key consideration for individuals who own and rent out vacation rentals.

In conclusion, when you buy property in Mexico it is important to purchase a property insurance policy that you can both understand, and properly covers your investment. Make sure to carefully check to insure that third-party liability coverage is included, and verify that rental income will be protected if your home is also a vacation rental. Lastly, if you own property that contains multiple dwellings, insure which structures are included and make sure it is clearly stated on your policy.

Recommended article: Mexico Real Estate Investment

by VLEAdminRE,
Destinations, FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Residences

Pre-Construction Real Estate in Mexico: What To Know

It’s easy to see all the major changes that have been happening in Puerto Vallarta within the last five to ten years, especially if you know the Puerto Vallarta area well. Within the past few years, the Old Town and Downtown neighborhoods of Puerto Vallarta have experienced major transformations as developers are building more and more condominiums to meet the demand for people who are relocating to make Puerto Vallarta their new home. With many new construction projects under way, it has surely altered the charming appeal of Old Town, and many people are not very happy about the effect to the authenticity, charm, and ambiance that has been altered. There are more construction units underway and the change is not going anywhere, so the question is should people purchase pre-construction real estate in Mexico? Continue reading below if you would like to know the top tips to buy pre-construction real estate in Mexico to determine if the investment is worth the risk.

Upscale Condominiums
If you take a quick stroll through Old Town Vallarta, you will quickly notice all the new construction buildings being built amongst the charming, older buildings. Many of the new condominiums that are being built come with modern décor, gyms, an infinity pool on the rooftop, and many high end appliances. These high end amenities are fantastic for people who are wanting to purchase a modern condo that still provides access to the Mexican lifestyle they desire. These new condos come with luxurious amenities, and buyers will not have to worry about keeping up with the maintenance and repairs that come with older, out of date condominiums.

Problems to Avoid
One of the major problems that occurs when purchasing a pre-construction Mexican real estate property is that the product is unfinished, which is a huge risk. It has happened more than once when a real estate property in Mexico has had financial issues, which led to the construction being stopped when it was only halfway done, which left many investors upset along with being scammed out of a lot of money. When you purchase pre-construction real estate in Mexico, it comes with this risk and this can occur anywhere, but you can lessen the chance of becoming a victim to real estate scammers or a developer that is dishonest when you know the tips to prevent it.

Reputable Developer
When you are purchasing Mexican real estate, the most important tip is to make sure the developer is reputable. To find out if a developer is reputable, you should look over their qualifications, and to review the properties that they have completed on time. You should always ask the developer for references and then research the developer thoroughly. If you want to protect yourself, then you should always research and do your homework on the developer before you decide to purchase a pre-construction Mexican real estate property. Don’t decide to purchase any pre-construction Mexican real estate before the research has been done even if the developer promises you big discounts or incentives.

Construction Delays and Risks
It is not uncommon with any new construction projects to have delays, especially with real estate in Mexico. Many of the real estate developers in Mexico will include a contingency clause of 3-6 months past the due date of completion so that they have a buffer in case of delays. You should be aware that your construction may not be ready by the due date, so you should make sure that you are prepared for this so you avoid any unwanted stress. When you are dealing with any pre-construction real estate in Mexico, you should try to negotiate with a small down payment so that your initial investment is minimal. Once you have the key and you can move into the completed property, you can finish paying for it then.

Experienced Realtor
Another helpful tip is to always deal with a realtor that is experienced and qualified when you are wanting to purchase pre-construction Mexican real estate. You should look for one that has an outstanding reputation, and one that knows the local real estate market very well. When you choose a realtor that also has experience with pre-construction real estate in Mexico, then it will be a big help when you purchase your property.

Avoid Risk – Buy Completed Real Estate in Mexico
Last, but not least, a risk-free tip is to only purchase a unit from a property that is already completed. You may miss out on discounts that are generally offered on pre-construction Mexican real estate, but it will be worth it in the long run to avoid the unwanted risks and delays that could occur. One of the best real estate in Mexico properties to consider that is fully complete and move-in ready is Villa La Estancia in Nuevo Vallarta. With solid construction, spacious units, high-end furnishings, and finishes as well as beautifully landscaped grounds, Villa La Estancia is a guaranteed solid investment if you want high-quality real estate in Mexico. In addition to the amazing units, Villa La Estancia is considered a condo-hotel where you also have access to professional and courteous staff twenty-four hours a day who are available to help you with any reservations, tours or transportation arrangements you may need. Visit https://rivieranayarit.villalaestancia.com/ to learn more about all the amazing amenities and services available at this award-winning property.

Villa la Estancia Nuevo Vallarta Real Estate

We hope this information will assist you in evaluating whether purchasing pre-construction Mexican real estate is right for you.

by VLEAdminRE,
Destinations, Real Estate, Riviera Nayarit

Why Live in Nuevo Vallarta?

There are so many reasons why you should consider Nuevo Vallarta as your new home; the hundreds of thousands of people who visit for vacations yearly can’t all be wrong, nor the thousands of expats who already live in Nuevo Vallarta. Did you know that Puerto Vallarta was named one of the friendliest cities in the world by Conde Nast, and the area of Banderas Bay is classified as one of Mexico’s top 10 destinations?

Nuevo Vallarta’s Charm

The sheer charm of this oceanfront destination is a huge factor for many of those who live in Nuevo Vallarta. Puerto Vallarta’s quaint, traditional atmosphere and malecon blends perfectly with the modern conveniences and infrastructure you will find in Nuevo Vallarta: the results are irresistible! Of course, the low cost of living, great medical facilities, world class golf courses, yacht clubs, and plentiful charity work does help too!

A destination for all generations

Nuevo Vallarta is not just for retirees—though it is the ideal place to retire—; it is a melting pot which offers activities for kids and adults of all ages, persuasions, and budgets! Found where the Sierra Madre mountains meet the Pacific Ocean this is a place where outdoor activities are plentiful and varied, too, and there are plenty of bilingual schools which make it a great place to raise children!

Peace and quiet

Many Americans and Canadians move south for a more relaxed pace of life; while Nuevo Vallarta offers all the modern conveniences, the social etiquette is less uptight, and the pace of life is slower. Many people find this to be attractive and refreshing, choosing to live in Nuevo Vallarta for its laid back attitude.

Communities for all tastes

Whether you wish to live in Nuevo Vallarta’s suburbs, on the coast, in a grand gated community, or in a modern condominium Nuevo Vallarta will have the perfect home for you. There’s an area for each lifestyle and income level.

Cost of Living

The cost of living when you live in Nuevo Vallarta is much more manageable here in Nuevo Vallarta than it is in, for example, New York or Toronto, and for this reason real estate is reasonably priced and stable. You’ll be able to find everything you could back home, but very often the cost is lower (especially when it comes to fresh produce).

Safety and security

Banderas Bay as a whole, and Nuevo Vallarta in particular, benefits from an unusually low crime rate; as tourism is so key there has been a definite commitment from the Mexican government to ensure the safety of all!

Want to live in Nuevo Vallarta? Give us a call today and we can help you make your dreams a reality.

Recommended article: 10 Reasons to make Mexico your Home

by VLEAdminRE,
FAQ, Fractional Vacation Ownership, Full Ownership, Real Estate, Residences

What’s the Purpose of Title Insurance?

Is title insurance a new concept for you? Here you will find out all you need to know about the purpose of title insurance.

  • What’s the purpose of title insurance?

Title insurance protects against financial loss due to defects that may be found in a property title, and can be used to prove the lawful ownership of a piece of property. More than half of all real estate transactions run into trouble someplace within the chain of title, and title insurance can be useful in helping uncover any issues prior to making a property purchase, which will allow you to correct any problems so that the transaction can be completed. Property loss or damage may occur due to liens, encumbrances or defects in the title to the property, and title insurance shields real estate owners and lenders against such problems. Every title insurance policy contains specific conditions, terms and exclusions.

  • Protecting your investment

For most people, their home is the largest investment they make, and title insurance can help to safeguard it. Most types of insurance (like auto, flood or homeowners insurance) supply coverage for events that might be happen in the future; however, title insurance defends against losses that may come from defects and hazards that a property title already has. Documents from a previous sale that have been improperly executed or a lien against a previous owner are some examples of these issues.

  • Checking for past liens

Insurance policies including healthcare, life protection, etc. protect you in the event that something happens in the future, and you pay for them with premiums broken down by the month or year. On the other hand, title insurance protects against previous events that happened with the real estate property and its former owners, and is paid in a one-time lump sum at the close of escrow.

  • Benefits buyers, sellers and lenders

Claims from defects is something title insurance protects against. Defects including improperly recorded documents, fraud, forgery, liens, encroachments, easements, another person claiming an ownership interest and other items are defined in each insurance policy. So that they can be insured against assorted possible title defects, purchasers and lenders need title insurance. When title insurance is issued, it benefits the buyer, seller and lender.

  • Title agents

Once the title order has been opened by the escrow officer or lender, a title search can be conducted by the title agent or attorney. The customer will be sent a preliminary report to review and approve. Upon the instruction of escrow, all closing documents are recorded. After recording has been confirmed, orders are paid, funds are expended and the title insurance policy is produced.

  • Escrow

Escrow is a process that happens when the money for a transaction (like when a house is being sold) is kept by a third party (often a title company or an attorney when it comes to real estate dealings) until the conditions of the transaction have been fulfilled.

You may want to read:

Buying Real Estate in Los Cabos – The Facts

Invest in Peace, Rest and Real Estate in Banderas Bay

by VLEAdminRE,
Fractional Vacation Ownership, Full Ownership, Real Estate, Riviera Nayarit

Potential Rental Income from Real Estate in Banderas Bay

There are many benefits to buying real estate in Banderas Bay; potential rental income, the enjoyment of having your own property, and the security that a “bricks and mortar” investment gives are just some of those benefits.

Potential Rental Income from Real Estate in Banderas Bay

Now more than ever renting out a property for short and long-term income is becoming accessible and popular, especially in vacation destinations like Banderas Bay, Mexico. Whatever your preference, short or long term, vacationers or snowbirds, you’re sure to find a niche that suits your aims. When you own property in a popular area, too, this potential grows dramatically. Rental income from real estate in Banderas Bay has great potential.

Villa La Estancia Real Estate Makes It Easy

Owners of Villa La Estancia real estate in Banderas Bay will find themselves in an enviable position when it comes to the potential for rental income. When you own a home in this area of Banderas Bay, with these great benefits, you’re sure to find potential renters with ease. Depending on how you feel about it you could manage all potential renters (and the schedule) yourself, or you could hire an independent property manager to share your duties.

If you want to kick back and leave the stress to someone else entirely, however, you can always enlist your property in the Villa La Estancia Rental Program; this will leave your property in the hands of a team of professional marketers and managers.

Potential for rental income for Banderas Bay fractional real estate owners

Even if you own only a fraction of your Villa La Estancia property you can benefit from this amazing offer, so you could easily have your own vacation and still have time to rent to others! For example you might stay in your property for a couple of weeks and rent out the remaining time.

Real estate that is always ready for your arrival

Finally, when you own a home at Villa La Estancia in Banderas Bay you have the unique benefit of knowing that it will always be clean, tidy, and ready for your arrival (regardless of how many guests have been staying when you were renting). The hotel staff make sure of it!

The potential for rental income from real estate in Banderas Bay is highly favorable. Want to find out more? Give us a call today and we can help you: Call 1 866 843 7005 today!

Recommended article:

Riviera Nayarit Real Estate For Weekend Getaways

by VLEAdminRE,
Destinations, FAQ

10 Reasons to make Mexico your Home

Mexico is a vast and eclectic country that can often be overlooked as a place to lay down more permanent roots. Whether you already feel the seeds have been planted to make the move or if the idea is still fresh, read below for some pointers on why moving to Mexico is a fabulous idea.

10 Reasons to Make Mexico your Home

The People

Three words to describe the people of this wondrous land would be kind, curious and welcoming. Mexican people will take the time to ask you, with genuine interest, about your experiences and to share their own. If you take the opportunity to exchange a few words with the locals, you will most likely be given tons of advice on the best places to visit or perhaps even invited to eat in the family home.

The Climate

The beauty of the Mexican climate is that with such a huge landmass it can cater for everybody. If you love a tropical climate, you can have it! If you prefer cool mountain weather, it’s yours!

The Colors

Mexico is a visual feast of colors that is never dull. This country has a bright palette demonstrated by the food, textiles, flowers, traditional paper banners, street art, even houses – the list goes on!

The Lower Cost of Living

Coming from the U.S. Canada and Europe, the cost of living feels substantially cheaper. You will find yourself spending a fraction of the price on things like eating out, rent and transport. This allows you to worry less and enjoy more.

The Cuisine

Although Mexican food can vary from state to state as each region puts their spin of things, the cuisine is consistently delicious. Classic flavors draw from tomato, chili and corn, lime, onion and cilantro. You can find mouthwatering seafood and fresh fruits, exquisite traditional foods including soups, meats and sauces, and not forgetting of course the foundational taco.

The Landscapes

The sheer size of Mexico paves the way for countless gorgeous landscapes from the Caribbean beaches of the South to the rocky desert of the North. There are volcanoes, tiny mountain towns, copper canyons, rapids, mountainous jungles and urban cityscapes.

The Nature

Given the wealth of natural resources that Mexico nurtures, its biological diversity is something to be treasured. Mexico boasts almost 30,000 species of flowering plants and 1,500 types of mammals, reptiles and amphibians. You can experience the grandeur of the pink flamingo in the Yucatan or the millions of Monarch butterflies in MichoacĂĄn which migrate from Canada each year.

The Celebrations

Another colorful element of the culture is the festivities! With a plethora of bank holidays to celebrate national and religious holidays, there is plenty of joy to be had throughout the year. You can join the celebrations by sporting the national colors of red, white and green whilst eating, drinking and dancing to your heart’s content.

The History

Mexican history is a rich and interesting study, from the Olmecs and Mayans, to the Spanish conquest, to modern day political issues. There are many museums and art galleries throughout the country to tell the story, particularly in the larger cities like Mexico City and Guadalajara.

The Sense of Fun

Finally, Mexico is a country that has a sense of fun and freedom to it which is contagious. Perhaps this is brought to us by all of the above; the endless opportunities to experience something new and the generous people which make it all possible.

Do you need any more reasons to make Mexico your home? Contact us today!

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by VLEAdminRE,
FAQ, Full Ownership, Real Estate, Residences

Introduction to Types of Real Estate in Mexico

When it comes to real estate options for vacation homes, Mexico is the place to look. Mexico can deliver if you are looking to buy an amazing villa that overlooks breathtaking tropical waters or even if you want to design your own home. There are many real estate opportunities in Mexico awaiting you. Here is our guide to the types of real estate in Mexico.

Guide to Types of Real Estate in Mexico:

  • Houses and single family homes in Mexico

Usually the houses in Mexico are two story houses. In the cities the houses are generally bigger. Traditionally houses in Mexico would come with a courtyard, designed purposely so on hot and humid summer days the homeowner can remain cool. Nowadays you will find more variety, with many modern homes in Mexico resembling North America and Europe homes.

  • Condos in Mexico

Condos are becoming a more and more popular option for real estate in Mexico, particularly in tourist areas where foreign investment is becoming more prominent. When you own a condo, you own a unit that is in a large building or complex, and you usually have access to a pool and/or a gym; your association fees will help maintain these common areas. There are some limits on condo owners as to what changes you can do to the interiors of your apartment, but in general, you can decorate your unit as you like. Changes to the common areas will be controlled by the homeowner’s association or the company that is employed to administer the condo.

  • Villas in Mexico

A ‘villa’ traditionally refers to a large luxurious home that is elegant and sophisticated, usually fairly big and overlooking some kind of impressive view. For example, the villas at Villa La Estancia offer incredible ocean views. Villas are certainly one of the most luxurious options for real estate in Mexico.

  • Condo-Hotels In Mexico

A condo-hotel in Mexico refers to real estate option for people to purchase homes at a hotel complex. The units you can purchase come with many added features such as using room service and concierge services with the hotel. Sometimes there will be great restaurants, a spa and multiple pools.

  • Apartments in Mexico

An apartment in Mexico is usually in a large building and the apartment can be rented or even purchased. The location, style, and size can vary as there are one bedroom apartments that are located in a family style neighborhood and all the way up to five bedroom apartments that is located within the city and these come with added features such as a Jacuzzi and a balcony that you can enjoy.

  • Building Your Own Home in Mexico

You can purchase land, then have your own home built for you in Mexico. If this is what you are wanting to do, then you should hire an experienced contractor. You should always be available and let them know exactly what you want done through each of the construction processes, so you can avoid any costly mistakes and surprises that wasn’t included in your original design.

What is your favorite type of real estate in Mexico? Leave us your comments.

by VLEAdminRE,
FAQ, Real Estate

What is a Fideicomiso? – Q&A Real Estate in Puerto Vallarta

What is a Fideicomiso?

A Fideicomiso is the name of a real estate trust in Mexico which enables foreign nationals to own property within the restricted zones in Mexico. The Trustee is a Mexican bank of the individual’s choosing, though the foreign national remains the named beneficiary of the trust. This means that the beneficiary retains all control of the leasing, improvement, assignment, and sale of the property; it’s not a lease, but similar to a Living Trust in the US. Simply put, the property is placed into a trust owned by the individual, but administered by the bank.

Why do I need a Fideicomiso?

If you are intending to buy real estate in Mexico’s “restricted zones,” which includes land around the coasts and borders of Mexico you will need to enter this arrangement. The purpose is to protect Mexican land and prevent the kind of massive land loss that was experienced in the past whilst still allowing for foreign nationals to own land in the restricted areas of the country. This was made an option as an alternative to amending the Mexican Constitution; homes over 62 miles from the coasts and borders can be bought without a Fideicomiso, though some people opt to have one anyway as there are some additional benefits.

Is your trust an asset of the bank?

No. If you have a Fideicomiso the trust is not an asset of your chosen bank. The bank are stewards of the trust, and you and those you designate are the beneficiaries of this trust. This means that, because your trust is not an asset of the bank, it is not exposed or vulnerable to any legal action against the bank.

For how long does the Fideicomiso last?

The trust is initially established for 50 years after which it can be renewed with a simple form and fee. All trusts are set in 50-year increments and the possibility of renewal is guaranteed in perpetuity.

How much does a fideicomiso cost?

At present, it costs around $500 USD per year.

Can the Government take my property?

Not without good reason, fair compensation, and a legal condemnation proceeding, just like any land in Mexico.

Foreigners often worry about their land and property being vulnerable to expropriation by the Mexican Government, but under the North American Free Trade Agreement (NAFTA) Mexico may not directly or indirectly expropriate property except for a public purpose like road building. Fair compensation means the inclusion of accrued interest and market values.

Can I get a fideicomiso for ejido land?

No. Any land dubbed “ejido” is land that only a Mexican National can own legally, and even then only when they meet strict criteria and in certain circumstances. Ejido land is the only land in Mexico without a title and is intended for those Mexicans who work the land.

by VLEAdminRE,