puerto vallarta real estate

Villa La Estancia Real Estate > Blog > puerto vallarta real estate

Tag: puerto vallarta real estate

Destinations, FAQ, Real Estate

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

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

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.

Recommendations for you:

Invest in Peace, Rest and Real Estate in Banderas Bay

Riviera Nayarit Real Estate For Weekend Getaways

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 Michoacán 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!

Recommended articles:

Why Own a Residence with 5-Star hotel Services?

Invest in Mexican Real Estate for Vacation Rentals

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,
Full Ownership, Real Estate, Residences

Invest in Mexican Real Estate for Vacation Rentals

You might think that you have missed the boat when it comes to cashing in on Mexican real estate in the prime locations in Mexico such as Puerto Vallarta, Cancun, and Los Cabos, but there are still plenty of opportunities. Today is easier than ever for foreigners to invest in real estate for vacation rentals, particularly now that there are more websites such as Airbnb and Craigslist where you can advertise your properties for rent.

Investing in Property for Vacation Rentals in Mexico

Foreigners can buy real estate anywhere in Mexico, although there are different regulations for purchasing property within the restricted zones which include areas that are within 50km of the coast and 100km of a national border. Once you have purchased your property, you can begin the task of putting it to work for you by renting it out for either long term or short term rentals. Vacation rentals are rapidly becoming a popular choice for tourists visiting Mexico, with demand for rentals rising steadily. Just last year saw a 9% growth in the industry for popular destinations in Mexico. Occupancy rates are also rising for the top destinations.

Income from Vacation Rentals

One of the major attractions of buying Mexican real estate for vacation rentals is the potential income you can enjoy. You can advertise vacation rentals in Mexico in US dollars, which means that you can enjoy premium rates and establish a stable income, particularly if you are renting your property during the high season, which is generally in the winter months. While you charge in dollars, you expenses, maintenance, and running costs can be paid in pesos, so you can expect to make a good return, even before you consider any appreciation your property might enjoy over the years.

Paying tax on income from vacation rentals

In the past, revenue from vacation rentals in Mexico went somewhat under the radar, but new tax laws for owners and property investors have made paying taxes on any income from vacation rentals enforceable. Be sure to consult a tax attorney to ensure you don’t fall on the wrong side of the law.

A property that is yours to use

Not only can you use your real estate investment for vacation rentals, you will also have somewhere to arrive to in Mexico that you can call your own. The beauty is being able to rent your property when you do not wish to use it.

If you have any questions about Mexican real estate, please contact us today:
Cabo San Lucas – 1 877 499 1901
Riviera Nayarit, Mexico – 1 866 843 7005

by VLEAdminRE,
Destinations, Real Estate, Residences

Top Tips for Finding the Best Real Estate in Puerto Vallarta and Riviera Nayarit

With some simple steps, finding the best real estate in Puerto Vallarta and Riviera Nayarit is easy. Here are some strategies you might want to employ to help you in your quest for a vacation home that is tailored to your needs.

Choose the right time to buy

The end of high season is a great time for finding the best real estate in Puerto Vallarta and Riviera Nayarit as this is the time when most of the expats and snowbirds have gone home for the summer. You will find that real estate agents have more time for you and are more likely to focus on finding you exactly what you want. Furthermore, properties are more likely to be vacant during this time, so you will find scheduling multiple visits to see real estate in one day much easier. You will also get to see the property in the rainy season, which will highlight any leaks or mold problems, as well as issues you might find with regards to airflow.

Get a good real estate agent

It is the job of a good real estate agent to manage expectations and make sure people know exactly what to expect when looking for investment properties in paradise. You also need an agent who can be honest with you about costs and your chances of finding what you want within your budget. Alongside a good real estate agent, you will also want to have a reliable real estate attorney and notary, both of whom a reputable real estate agent can recommend.

Buy Property You Can Afford

Make sure you have the capital to invest in real estate in Puerto Vallarta and Riviera Nayarit. Most properties in Mexico are paid in full rather than using a mortgage, although Mexico’s mortgage lending business is growing steadily. In addition, mortgage interest rates in Mexico are very high. Some high-end properties, like Villa La Estancia Real Estate, offer developer financing, which is a great option. Nevertheless, the best rule of thumb is to buy real estate in Puerto Vallarta and Riviera Nayarit that you can afford.

Consider YOUR expectations

How many times have you been told: “Don’t buy near the beach because properties are more expensive” or “Find real estate out of town, so it’s cheaper!” While you will find real estate in Puerto Vallarta and Riviera Nayarit to be much cheaper in less desirable locations, you might want to reconsider why you want to move to Banderas Bay. If your goal is to live cheaply, then by all means, choose a cheaper neighborhood; however, if your goal is to experience the wonders of this breathtaking location, then choose real estate that matches your expectations. You might also discover that properties by the sea are not out of your reach.

Be realistic

Take into consideration how often you will realistically be able to use your property; how many times a year will you visit. If you are planning to live in your home full time or for long periods, you will need a different kind of property than if you were buying real estate in Puerto Vallarta and Riviera Nayarit as an investment to rent.

For help and guidance navigating the world of real estate in Puerto Vallarta and Riviera Nayarit, call us today on 1 866 843 7005 and we will help you discover the most beautiful beachfront properties on Banderas Bay.

 

Recommended articles:

Mexican Benefits for Foreigners Over 60

Checklist for Relocating to Mexico

by VLEAdminRE,
Destinations, Real Estate, Residences

Mexican Benefits for Foreigners Over 60

With more retirees moving to Mexico than ever before, there has never been a better time to explore all of the different ways you can save money upon relocating to this charming and beautiful country.  Living costs in Mexico are much more affordable than those in the United States, Canada and Europe, making it an appealing place to relocate upon retirement.  What’s more, you can take advantage of even more discounts with these Mexican Benefits for Foreigners over 60.

When you enroll for the INAPAM (Instituto Nacional para las Perso1nas Adultas Mayores) discount card, you can enjoy impressive discounts on an incredible range of goods and services, which can help you stretch your retirement money even further.  The process to apply for the card is easy, and it also happens to be free.  Once you have your discount card in hand, you will be able to present it to countless businesses.  Here is just a sampling of the services you can enjoy discounts on:

Food & Groceries

As a daily expense, you can save big at specialty food shops, grocery chains and convenience stores.

Dining Out

From diners to cafes, as well as restaurant chains, you can save when you go out to eat. 

Healthcare

Although medication already costs far less in Mexico than in countries like the U.S., seniors can receive additional discounts at many pharmacies.  Several doctors, dentists and medical specialists also offer discounts to card holding seniors.   

Culture

You can find discounts at a variety of art galleries, museums, archaeology parks and bookstores. 

Travel & Leisure

Many travel agencies and hotels found throughout Mexico provide discounts for seniors.  

Party Venues

It is common for festivity halls (salon de fiestas) to offer discounts to seniors who are planning a party at their facility. 

Transportation

Discounts on fares are provided by several airlines, bus companies and sometimes even local taxis.

Discount on Property Taxes and Water Bills

Seniors can receive a discount on their annual property taxes (Predial) as well as their water bills in some municipalities.  

Other Discounts

While discounts for seniors vary between businesses and are not always offered, remember to always present your card and ask just in case.  You will find discounts at a wide range of businesses including accountants, legal firms, construction companies, hardware stores, electricians, locksmiths, plumbers, car service and repair centers, printers, dry cleaners, veterinary services, florists, art stores, jewelry shops, beauty salons, clothing stores and so much more.

The original article can be found at Mexperience:

https://www.mexperience.com/inapam-mexicos-discount-card-for-seniors/

Recommended articles: 

World’s Best Places to Retire – Mexico is No. 1

Why Nuevo Vallarta is Great for Retirement

 

 

by VLEAdminRE,