15 Good Reasons to Invest in PV
While Los Cabos and Cancun seem to always be in the news as appealing Mexican destinations, Puerto Vallarta has been keeping a low profile in the background. And while the spotlight is on them, it is actually Puerto Vallarta that has created this country's largest recreational investment market — more Americans and Canadians own homes in "PV" than in the other two cities combined! It offers mountains as well as ocean, world class marinas and signature golf courses, the best dining of any Mexican resort, and more variety in the pricing, type and style of the recreational investments offered than either of the other destinations. All that, and yet the cost of recreational investments is much less expensive in Puerto Vallarta!
Why Puerto Vallarta?
Since the early sixties, Canadians and Americans have been coming to Puerto Vallarta, not only for a vacation, but to stay long term in their vacation properties. And since those early years the area has grown to where the American/ Canadian community is now more than 50,000 strong, Puerto Vallarta is much more than a sleepy little fishing village today. Vallarta now encompasses a coastline of over 150 miles that includes many other small coastal towns, large residential resort developments and spectacular beaches.
While there are numerous reasons one should consider Puerto Vallarta for a primary or vacation property, listed below are some important ones:
The market is definitely hot, but pricing is still seen as very reasonable, especially when compared to similar markets such as Los Cabos or Hawaii or along the California coast.
Up until just recently obtaining financing was virtually impossible in Mexico. However, that is quickly changing. Today there are both American and Mexican mortgage companies offering financing at reasonable rates for up to 20 years. Many real estate developers also offer financing, but it is usually short-term.
Cost of Living?
It is still less expensive to live in Mexico than in the United States and most likely will continue to be. Property taxes are a fraction of what they are to the north and the cost of support staff for your home is very reasonable
Puerto Vallarta is just a two- or three-hour flight from most locations in the southern US, making it very accessible. There are direct flights from all major cities in Canada and the US. Many second-home owners are known to commute for the weekend; returning on Sunday or Monday. Some people actually prefer to drive down from California, Arizona and Texas, so if you don't mind the 24-hour trip, that's an option. Puerto Vallarta is less than four hours from Guadalajara, Mexico's second largest city, which offers great home decoration shops, galleries, workshops, and a fascinating world of colonial architecture and heritage.
Situated within one of the largest bays on the Americas' Pacific coastline, the South Shore is draped in dense tropical forest as the Sierra Madre mountain range meets the coast. Properties here offer spectacular views of the city and bay and easy access to Vallarta. The North Shore is less mountainous and the climate dryer; some years little or no rainfall is recorded. Further north still, the landscape returns to tropical forest, with dramatic hillsides backdropping pristine coves and beaches.
Puerto Vallarta is blessed with a variety of real estate opportunities and there really is something for everyone. Because of its unique topography it offers homes and condominiums on the hillside overlooking the bay, beachfront properties all along the coastline to the south of Puerto Vallarta, and marina and golf homes and condominiums in the central part of the bay.
Real estate prices have continued to rise as demand has increased. Strong appreciation in value has been realized in nearly every market sector since the early '90s.
Mexico's economy is strong, especially with recent high oil prices, as Mexico has one of the world's largest oil reserves. This, along with strong trade with its neighbors to the north and a robust tourism market has helped sustain Mexico's economic growth.
Puerto Vallarta is said by many to have the finest restaurants in the country outside of Mexico City. And the large full- and part-time Canadian/American population supplies a strong client base. Vallarta is famous both nationally and internationally for its exceptional culinary variety and quality, the town's prestigious gourmet festival every November drawing epicures from around the globe.
Art & Galleries
The color and magic of Vallarta is a magnet for artists, allowing numerous galleries to prosper. The art from these galleries can be seen featured in many Vallarta homes. During the high season art walks, very popular social events, are held each week and usually followed by dinner out on the town.
Where Acapulco is famous for its nightlife Puerto Vallarta is more subdued, people prefering to socialize over dinner at the many fine restaurants in town, relaxing afterwards at a lounge to enjoy Latin jazz or classical music.
There are seven golf courses with three more planned short-term. Three are in the immediate Vallarta area, three in the central area of the bay shoreline, and two at its northern tip at Punta Mita. The three planned courses will all be located on the north shore of the bay. Last year Puerto Vallarta surpassed Los Cabos for the number of games played by visiting golfers, and Jack Nicklaus returned to build yet another of his signature courses at Punta Mita.
There are three major marinas within the bay, with another in the building stage. Puerto Vallarta offers more dock space than any other destination in Mexico. The bay is wonderful for fishing and diving and good sailing winds are available all year round.
If you were to ask Vallarta homeowners what the best reason is to choose this area, many would tell you it's because of the people. Vallartenses are happy and giving, a very soft and gentle people, which creates a wonderfully welcoming community atmosphere where foreigners and expats really feel like they belong.
First-class urban amenities and charming palm-fringed villages draw retirees to the Puerto Vallarta region.
With its profoundly rich Indian and Spanish culture, its spectacular beaches and charming colonial hill towns, its real estate bargains and its proximity to the United States, Mexico is the undisputed number one destination for American retirees. It boasts thriving expat communities in Lake Chapala, near Guadalajara; San Miguel de Allende, in Guanajuato; Baja California; and Cancún, in the Yucatan. They all have their attractions, including a low-cost, laid-back lifestyle, but our choice in Mexico is the Puerto Vallarta region, located on the Pacific Coast in the state of Nayarit. Its combination of first-class urban amenities and charming palm-fringed villages have made it an appealing retiree draw as well as a popular tourist destination, without the serious crime that blights some other parts of the country.
(A quick word about crime and safety in Mexico: Yes, it's extremely dangerous in the cities bordering the United States and a few places elsewhere. Mexico, however, is also nearly three times the size of Texas, and most of the country is reasonably safe and secure, especially resort areas and tourist destinations.)
Puerto Vallarta's handsome beachfront promenade can be overcrowded with tourists, but venture a few blocks back from the bars and curio shops, and the town's Mexican charms are on display—whitewashed houses bedecked with flowers, and plazas where locals and expats alike greet, eat, and seat themselves on benches to watch the passing parade. In Nuevo Vallarta, the newer luxury area, you'll find U.S.-style condo complexes and even a mall. You'd think you're back in the States, but at a steep discount.
Forty minutes north of PV, the seaside village of Sayulita is a lively place, with a colorful mix of tourists, retirees, and surfer dudes that keeps things hopping. Rollie Dick, 70, and his wife, Jeanne, 65, both former teachers from California, own and operate the town's most popular restaurant—Rollie's—known for its delicious quesadillas and a chef who dances his guests around the tables. "We love the plaza life," Dick says. "It reminds me of the States in the '50s."
The one thing expats most appreciate about life here: the traditional Mexican friendliness. Peter Glass, 65, a former Procter & Gamble executive, lives with his wife, Charlotte, in a charming small house in Sayulita. An African American from Washington, D.C., he says that "Mexico is the only country I've experienced where I haven't felt that I was being judged one way or the other by the color of my skin. It is a breath of the proverbial fresh air."