Buying a vacation home in Puerto Vallarta is an achievable dream for many people thanks to a hot vacation rental market in our destination. Making your home or condo available for rent when not in personal use is a terrific way to defer costs and maximize the return on your Puerto Vallarta real estate investment. But if you are looking for a second home with great rental potential, what should you be looking for? We have a few tips.
Pricing and Costs – You likely already have a number in mind, but you may not be clear about the specific costs involved when buying a property in Mexico, such as the cost to set up and maintain a fideicomiso (bank trust), closing costs, taxes, etc. A local, professional real estate agent can assist you with calculating these costs and finding a reputable mortgage broker in Mexico that specializes in lending to foreigner buyers if that is required.
Location – Renters look for walkability and/or convenience when booking a vacation rental. Choosing a property with easy access to attractive features (the beach, nightlife and entertainment, a golf course, etc.) will help make your property attractive on the market.
Resort-style amenities – Those fabulous amenities that you enjoy while using your Puerto Vallarta vacation home also make it very attractive on the rental market. Rooftop lounges, a beautiful pool, on-site restaurant, gym or WIFI in public areas are all the types of resort-style amenities that make a property stand out to potential renters.
Tropicasa Realty is there to assist you throughout the process of purchasing a vacation home in Puerto Vallarta and beyond. Our agents can also help you with finding a professional property management company to protect your investment while maximizing your return. Talk to your Tropicasa agent today for more information.
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