Considerations Before and After Moving to Vallarta · Nayarit

The idea of buying a property in a destination like Vallarta · Nayarit (either with the intention of moving or simply as a vacation home), can be very appealing for those who have seen and enjoyed the attractions found in this corner of the Mexican Pacific.

However, before making a purchase decision, there are some considerations to keep in mind related to starting a new life in a new place, which will help potential buyers avoid inconveniences.

Real estate industry professionals share their recommendations for starting a new life in our region.

In order to offer a basic guide, the Vallarta Real Estate Guide editorial team presents some of the recommendations that real estate insiders have shared during our collaborations over time.

BEFORE BUYING

Type of Property

“Initially, you have to review the budget you have and the type of property you are looking for. Based on this, your real estate agent will be able to select properties that may be suitable. This categorization is vital, because in our region you can find properties from 150,000 USD to more than 10,000,000 USD, explains Antonio Palacio, real estate agent of SB Realtors.

Experience Every Season

“It is advisable to know the climate conditions of each season of the year, especially for those who plan to become full-time residents. Personally, I consider that the ideal plan is to visit for at least two weeks during three different seasons, all with the aim of experiencing it year-round. Also, this is a convenient way to understand the different levels of tourism throughout the year”, comments Allan Fletes, general director of Homia.

Work Opportunities

“Thanks to globalization and technological tools, it is more and more common for people to turn their home into an office, doing their work from anywhere in the world. This has made moving to other nations at an early age more common and not just a privilege for retirees. When working remotely and if you want to start a business in Vallarta · Nayarit, you must consider the opportunities and conditions of the market,” adds Mike de Mucha, partner of NuHome Realty Co.

Bilingual Neighborhood

“As a foreign buyer, it is highly recommended to ask yourself if the area of the city where you plan to purchase the property has services available in your language and/or if you will require the help of a bilingual assistant. Whatever the situation, it is always a good idea to take some Spanish classes so that you are able to achieve a reasonable conversational level,” Aldo Arceo, real estate agent of Timothy Real Estate Group.

AFTER BUYING

Have a Reliable Network of Advisors and Suppliers 

“Once established in Puerto Vallarta or Riviera Nayarit, you can rely on your real estate agent to prepare you and share a list of service providers that can help you with matters such as housework, interior design, legal advice, medical care and auto mechanics, and other things,” says Daniel Álvarez, real estate agent of Boardwalk Realty.

Register with SAT

“If you want to work, establish a business, or convert your property into a vacation rental, you must register with the Tax Administration Service (SAT) of the Ministry of Finance and Public Credit. This way and in accordance with the law, you will be able to pay the relevant taxes. Hiring the assistance of a reliable accountant can be very helpful,” shares Jorge Cadena, partner of the firm Terán Rojas & Associates.

Income Tax

“If you plan to sell your property in the future, you should consider Income Tax (ISR). This is a percentage of the total price of the property that you will have to pay and that you can calculate with the assistance of a tax advisor or notary. Also, you should know that ISR can be legally reduced significantly, so it is best to educate yourself on this subject before signing a purchase contract,” says David Connell, partner and manager of Connell & Associates.

How Much is my House Worth?

“Knowing the average price per square meter in the area where your property is located is of great importance. It helps you be aware of the value of your assets, and it will be useful if you sell it in the future. If you keep in touch with the real estate agent you closed the deal with, you can ask them about this,” says Miles Gallardo, real estate agent of Warren Brander Realty Group.

These are just a few factors to consider so that when the time comes to buy a property in Vallarta · Nayarit, the buying-selling and adapting to a new home process is easier. Throughout Banderas Bay there are professionals who can aid you from start to finish.