The most common choice in Puerto Vallarta real estate is condos, whether on the beachfront or back on the hillside. Yet, there are many buyers would prefer a home. While a first reaction may lead people to think homes are too expensive, there are a few options to consider which help make owning a Puerto Vallarta home for sale more affordable, including investing in Puerto Vallarta land for sale. These options include:
Locations Back from the Beach – Most buyers rush for the beachfront in Puerto Vallarta, and for obvious reasons. Yet, it’s important to consider that back from the beach homes become considerably less expensive. There are also excellent locations back from the beach which include close access to many amenities and the beach, as well as excellent views; many people consider the hillside to have even better views than the beachfront.
Gentrifying Communities – Communities which are just beginning to transform from more local neighborhoods into trendy areas for international buyers can often offer lower prices, especially early on in the transition phase. These are also great investment opportunities since values are likely to increase as the community becomes more gentrified and more popular among Americans and Canadians. On the other hand, for those simply seeking a low price, there is less “pressure” to guess how soon the community will take off.
Fixer-uppers – A related option is that of fixer-uppers. Buyers can invest in a home in need of renovation, restoration or remodelling for as little as half the price of a home that is ready to use. Several gentrifying communities near downtown Puerto Vallarta have excellent options. This kind of purchase is best for those who love taking on projects.
Mortgages – This is a relatively new option, but is becoming more common for Americans, Canadians and Europeans. The advantage of getting a mortgage directly in Mexico is that the same home you buy can be leveraged against the mortgage. While the process takes longer and there is more paper work, many buyers find it’s worth it.
Bargain Hunting – Most people like to think they’re bargain hunting when they buy real estate, but few know how to go about it. In a market like Puerto Vallarta, it’s best to work with an experienced, qualified agent who is familiar with the market.
Don’t imagine just because you are buying on a budget that you can’t afford a home in Puerto Vallarta. Investigate your options, and you may be surprised.
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