Puerto Vallarta Real Estate Articles

If you were to have a budget of $100,000US-$150,000US to purchase a property within the bay, what could you buy?

If you need to stay close to $100,000US, you may want to live in a condominium in the town of Vallarta where you can select from one and two bedroom units around the Cathedral de Guadalupe. Here you will have a view of the town and bay. You can walk most places, so you will not need a car.

You can also select from other areas such as the hotel zone north of downtown Vallarta. You can also look at one and two bedroom condos in Marina Vallarta where you are closer to golf and boating. If you wish to be out of the immediate town, but close enough for a bus or taxi for visits, selections can be made south on some of the prettiest beaches within the area such as Playa Gemelas, and Mismaloya.

A small home north in La Penita Guayabitos or La Cruz may be your choice. There are also selections in Bucerias and Nuevo Vallarta of one and two bedroom homes as resales and there are some newer condominiums within the larger developments.

If your budget will allow up to $120,00-130,000US, there are buildings with two and three bedroom condominiums on the mountain of Amapas close to downtown Vallarta, and in Conchas Chinas. More selections are in Marina Vallarta, the beach of Punta Negra, and downtown on the Malecon. Most of these buildings will have a pool in the common area, and in the case of Marina Vallarta, tennis courts and playground areas.

The price range of $140,000-150,000US includes more condominiums on the beach at Punta Negra south of town, and the Emiliano Zapata neighborhood which has the charm of Old Vallarta. You can also look at newer buildings within a short walk to Los Muertos Beach. Other southern beaches such as Playa El Venado give you a selection of one, two and three bedrooms with terraces facing the ocean as well as swimming pools.

In the range of $100,000-150,000US for a resale condominium within Vallarta, the majorities of the buildings are well established and have been remodeled. Few new buildings offer this price range, but there are exceptions in downtown and the area of Amapas.

If you desire an individual home within this price range, you have choices. You can select from one-three bedrooms in neighborhoods such as the hills of 5 de Diciembre, a few blocks above the malecon south of the plaza in Vallarta. You can live comfortably in the area of Palmar de Aramara, near Sam’s and close to the town of Pitillal. The community of Versalles is becoming more popular with its easy access to any part of town and Plaza Caracol. Here the wide streets are being improved and the yards are larger, in general.

$130,000US-$150,000US gives you, in addition, the community of Las Gaviotas, Agua Azul and Buenos Aires. Views of the mountains are more common than the ocean. These are established neighborhoods whose families enjoy visits to the beaches on the weekend and special occasions.

If you want to first buy a lot and build later, you can select land starting from under $20,000US in selected areas around El Remance and Emiliano Zapata, in town south of the Rio Cuale.

For $30,000-45,000US, you have choices on the mountainside of Alta Vista and Lomas de Mismaloya.

For $50,000-100,000US, you have the views from Amapas, 5 de Diciembre, Conchas Chinas. You can also consider building in Las Gaviotas.

For under $150,000US, you can add Sierra del Mar, a private community south of town, or opt for a larger lot in Conchas Chinas. If you select a mountainside lot, you will need to budget for adequate engineering and foundation construction. The trade off can be the view of the ocean and bay.

If you can spend up to $150,000US on a lot, you can include land south of Vallarta near the beach of Chamela, nearer Barra de Navidad.

In the state of Nayarit, going north to Nuevo Vallarta, La Cruz and Bucerias, you can stay within your budget. Start with a fixer upper in La Cruz de Huanacaxtle within walking distance to the beach or choose a two bedroom remodeled cottage in Bucerias. If you want to go further north and still stay within $100,000US, you can visit San Pancho, Nayarit on the Pacific Ocean.

For $120,000US you may select a beachfront lot in Bucerias or a three-bedroom home close to Nuevo Vallarta in the village of Jarretaderas.
If you can stretch your budget to $130,000-$150,000US, the homes close to the beach in La Cruz are usually 2 bedroom, 2 baths and from 2 years old up. Condos in this price range have more amenities and are closer to the beach.

$135,000US pre-construction opportunities include a one-bedroom one-bath luxury condo with pool, gym and restaurant near Flamingos Golf Course. $135,000US can also get you a good residential lot in Bucerias or a selection of two and three bedroom condos on the beach.

Toping out at $150,000US, there are choices between newer homes, including two bedrooms in the north bay of Rincon de Guayabitas, or an older home in San Blas. A cul de sac lot on an upscale street in Nuevo Vallarta can round out your selection at this price.

There are some large developments, which offer new properties within our budget. In Nayarit, you can buy a studio including amenities of a pool, golf, gym, tennis, starting at $99,000US. There are still one bedrooms in a new complex in Marina Vallarta under $150,000US. With this purchase also comes access to golf, pools, tennis courts, and the beach. Nuevo Vallarta can offer a full menu of amenities and put you into a new one-bedroom condominium from $150,000US.

Most purchases are done in cash without a mortgage. Part of the reason for this has been the lack of competitive residential mortgages offered by local banks. There is a mortgage company in the US who lends to Americans within certain guidelines. The type of mortgage available is similar to a second home mortgage of which most Americans are familiar. The term is shorter and the interest rate a little higher than for a primary home.

Closings costs are higher here within the bay, so you will want to budget 5-10% of the purchase price as funds for this purpose. The cost of the fidecomiso, transfer property tax, and notary and escrow fees are included in the closing costs.

Take the time to learn the market that your price range includes. Ask questions and require documentation. Seek out professional help. If you do your homework, you should not have any surprises to spoil your ownership. Enjoy your purchase.

This article is based upon legal opinions, current practices and my personal experiences in the PuertoVallarta-Bahia de Banderas areas. I recommend that each potential buyer conduct his own due diligence and review.