There has never been a better time to invest in a vacation home in Puerto Vallarta than now, with both a strong real estate and tourism market in the city. As you begin the search for your perfect property, here are a few things to keep in mind to make the best possible real estate investment.
- Total Costs. Of course, you have thought about a budget for the purchase of the home, but homeownership comes with additional costs. Some things to consider are property taxes, HOA fees, bank trusts, utilities, property management or caretaking costs. Luckily, the associated costs of owning a home in Puerto Vallarta are substantially lower than they would be in the USA or Canada.
- Don’t confuse a timeshare with a real estate investment. No matter what timeshare agents may try to tell you during their high-pressure presentations, it is extremely difficult to sell a timeshare after purchasing it. Remember, a timeshare is pre-paying for your vacations, not a real estate decision that will provide return on your investment.
- Enlist the help of an experienced real agent that is a destination expert. Not only will your agent be able to guide you through the process of finding and purchasing a home in Puerto Vallarta, they will also be able to advise you on the best locations for your lifestyle.
Like any major life decision, investing in Puerto Vallarta real estate requires research, but purchasing a home here can be one of the best lifestyle and financial investments you’ll ever make. Make sure you’re working with an experienced agent to help you find your dream property and then start enjoying life in Mexico.
Warren Brander is an expert real estate agent with The Agency in Puerto Vallarta. If you are thinking about buying or selling an investment property in Puerto Vallarta or the Banderas Bay area, contact him at (322) 200-2253 or warren.brander@TheAgencyRE.com