Understanding the real estate market in another city can be tough, even worse is trying to understand the real estate market in a foreign country.
We interviewed and went on a property hunt House Hunters International style with local Puerto Vallarta real estate agent, Ryan Donner. We asked some common questions that most first time foreign investors have.
To get an idea of what condos in Puerto Vallarta, Mexico look like and cost, check out the video:
Curious about what you can buy for under $150,000 USD in Puerto Vallarta, we’ll take a look at a property that fits that budget.
Looking for something a little more modern complete with rooftop pool and lunge? We’ve got that covered too!
Buying property in Mexico as actually a very simple process, not altogether different from the United States. The only major difference is that your deed is held in a bank trust called a fideicomiso. The trust acts very similar to a living trust in the US.
Once you’ve made an offer and it’s accepted, you will fund the escrow account and we will help you, through a notary to set up the bank trust. The entire process takes anywhere from 45-60 days. With the help of knowledgeable agents like Ryan Donner, you can feel at easy throughout the entire buying process.
We are going to link below specific questions that we asked Ryan to the exact moment in the video in which we ask him. We are going to summarize his answers here, but if you want to here it from the expert, we suggest clicking the numbers next to the question.
Information about Zenith Puerto Vallarta: 1:37
The condo we visited at Zenith was a 1 bedroom, 2 bath unit at just over 900 square feet. The buildings has a rooftop terrace with a lounge area, an infinity pool, and a gym. The unit costs 275,000 USD.
HOA Dues in Puerto Vallarta: 4:35
Typically HOA dues are typically around 2 dollars per square meter.
Traditional Mexican condo in Puerto Vallarta: 5:36
This more traditional condo is listed at 139,000 USD, has two bedrooms, two bathrooms, and is around 600 square feet.
Benefits of buying a condo or a traditional home: 8:20
Buying a more traditional condo in Puerto Vallarta may be a better fit for you if you are looking for something that is a little more quiet and long term. Owners of units within newer condo buildings tend to want to live closer to the action and may only live in the unit part time, renting the condo the other months of the year.
What is the process to buy a house in Mexico: 9:01
The buying process is not all that different from the United States, with the exception that you will have your deed held in a trust.
Can you get a mortgage in Mexico?: 9:46
Yes and no. Mortgages are starting to become more available, but typically houses are bought on a cash only basis here in Puerto Vallarta.
Housing market in Puerto Vallarta: 11:56
Check the video for Ryan’s exact stats, but suffice it to say that properties are moving fast in Puerto Vallarta right now! If you want to get your hands on a retirement home in Puerto Vallarta, Mexico, be prepared to take action!
Can you negotiate on home prices in Mexico?: 12:32
Yes, currently homes are selling for, on average, 5% below list price.
Can an American own a home in Mexico?: 13:12
Long answer short, yes.
Where did we go?
Feel free to leave any additional questions or comments below or email Ryan Donner at Realtor@RyanDonner.com or visit his website RonnerDonner.com
Keep it Kinetic,
Greg and Hillary Kennon