View from the Penthouse at Los Altos Condominiums
Buying a home can be an exciting and nerve wracking experience. There are always a lot of emotions involved with a home purchase, and buying a home in Puerto Vallarta can be especially so. Buying off shore real estate means dealing with a different set laws and customs, so getting advice from a professional real estate agent that works in the market is a good idea. If you are looking to buy a home in Puerto Vallarta chances are you are looking for a 2nd home… a vacation home or an investment property, even a home to which you will eventually retire. So your criteria needs to be a little different than someone looking for a home in suburbs whose main concerns are good schools and proximity to their work. Location is still important, but when finding the perfect home in Puerto Vallarta, you are probably more interested in the view, and proximity to the local market… or seclusion from everything.
So how do you choose?
The first and most important step is to set a budget. Cost is going to be the limiting factor for most people. I suggest you sit down and do a good analysis of your finances. figure out how much you can afford. Many people will buy outright using money from their savings or other investments. Others will want to look at financing options. There is financing available for foreign investors in Mexico as well as options that can use you assets at home as collateral for your foreign property purchase. You can expect to pay a little more for these kinds of loans, so adjust your expectations accordingly.
Other things you’ll want to look at are how many beds and baths do you need, how much space are you looking for, what part of town you want to be in (do you want to be on the beach, or on the hill, or in town?), what kind of view you want. You’ll also want to consider any special needs you have, such as wheel chair access, suitability for pets, single level vs. multi level floor plans. Are you going to want to lock the place up for months at a time and not have to worry about it’s security? Are you looking for rental income from the property? All these things can dramatically affect your choice.
Take stock of the things you are looking for in 2nd home in Puerto Vallarta, make a list of the things you want as well as a list of the things you don’t want (sometimes the things you don’t want can be more important than the things you do). Then go find an AMPI or APIVAC affiliated Real Estate Agent in Puerto Vallarta (I like this one, but I’m probably biased 😉 ) that you are comfortable with and start your search.
