House vs. Condo: What’s Right for You?

Many of our clients, when starting their property search in Puerto Vallarta or Riviera Nayarit, have ideas about the type of lifestyle they want to live in Mexico, but are a little less certain about the specifics that a new home should offer to help them achieve that way of living. Our local area and real estate experts at Tropicasa Realty have put together some questions and answers that you may want to consider to help decide whether condo living is for you or if you would ultimately prefer a single-family home in Puerto Vallarta.

Will you be living in Puerto Vallarta full-time or part-time?

For people that will be using their Vallarta property predominately as a vacation home a few weeks of the year, the convenience of “lock-and-go” living that a condo offers is very appealing. Additionally, building maintenance and security will be managed by your Homeowners Association, making ownership additionally worry-free.  So a condo is generally a good option for part-time owners.  However, there are many gated single-family home communities in Puerto Vallarta and Riviera Nayarit that offer the same security of condos and usually have nice community amenities like common pools, green space and playgrounds, so keep an open mind.

Do you plan to predominately use your property as a vacation rental?

Many owners offset the cost and increase the return on investment of their Puerto Vallarta home by using it as a rental property. The vacation rental demand for condos, particularly in the Puerto Vallarta Old Town and Romantic Zone areas is high, making them easy short-term rental units.  And large luxury villas often have a proven history as high-end vacation rental properties. Family homes, like 3-bedroom homes located in areas like Fluvial, Versalles and Los Gaviotas, are in demand as rental properties but will usually be rented to long-term tenants on year-long leases, at a lower price per night/week/month than condos or villas in the more resort-traveled areas of Puerto Vallarta.

Do you prefer private personalization or shared convenience?

One of the benefits of a house versus a condo is that owners can really make it their own, adding personal touches like design features or gardens, or investing in their property with things like solar panels which are friendly to the environment and to save on utility costs. With condo living, the interior of your home can be made your own, but the amenities will be shared with your neighbors. But again, the amenities in a condo are usually more robust with things like rooftop terraces, infinity pools, gyms and other features that may harder to find in a moderate single-family home.

Whether house, condo, villa or a lot to build your dream property, our agents are here to listen to your lifestyle goals and use their expertise to help guide you to the best neighborhood and the best home option to meet your goals.

Click here for more Puerto Vallarta real estate and lifestyle tips from Tropicasa Realty.