Pros and cons of buying a vacation home

 Pros and cons of buying a vacation house

Everyone adores that special time when they get to simply relax and have fun with their family. Whether you love going to the mountains or down to the lake, it’s always great to simply get away for a while. And all that relaxation might get you thinking about getting a piece of that heaven. You might start thinking about buying a vacation house. However, there are many things to consider before actually making that investment. That is, it is quite a big move that you have to consider carefully. Here are some pros and cons of buying a vacation house.

Pros of buying a vacation house

Of course, as with any type of investment, the best thing you can do is truly consider every facet. You need to look at your dreams from a realistic perspective. You might be dead-set on, for instance, even moving to Florida after a great week at the famous beaches of Miami. But you need a basis, a carefully thought-out plan. Here are some of the pros of buying a vacation house.

It is consistently perfect, and consistently yours

There is a certain allure to consistency, knowing that you get to go to your little piece of paradise every summer. And, why not, even winter. After buying a vacation house, you can get that feel of perfection every year. You can ensure that your kids have a great, stable, vacation every time. Also, if you’re set on visiting a certain place several times a year, it will certainly pay off more to buy it than to rent it every time you come.

With a vacation house, you can ensure your kids’ perfect vacation;

 

You basically have a second home

Having a second home is quite the appealing image. But imagine this: you’re retiring and you decide to retire and go on permanent vacation. Let’s say you’re from Texas and you want to escape from the sweltering heat. Your beach house awaits you, ready when you are, only with the added benefit of memories built there for decades. You simply pick up the phone and choose the best moving assistance in Texas and you’re there – living in paradise for the rest of your life. When you think about it, buying a vacation house actually means buying a second home for you and your family.

You can rent it out

Now, the amount you can earn from renting mainly depends on where you plan on buying a vacation house. If you buy a house near the beach, you can earn quite a lot of money. Nowadays, with various different sites involved in renting out someone’s vacation house, it is certainly easy to find people who are interested.

However, when considering renting out, you need to learn about the rules regarding tax. Also, you need to be able to handle the situation regarding maintenance efficiently.

Cons of buying a vacation house

There are also some drawbacks to buying a vacation house that you need to consider. Of course, while they all may be surmountable, you have to weigh the options yourself. Discuss them with your family and with an expert if you’re really set on taking this step. Sometimes, it’s okay to postpone our ideas for later and wait for the right time.

Your finances are not that great

Regardless of whether or not you can take out a mortgage, there are many other expenses to consider. First of all, you will have to pay for the maintenance, because you will not be there constantly. Maintenance includes repairs after storms, fixing any leaks, mowing the lawn etc. So, you need to map out your budget in the long run. If you’re not sure you can manage this step financially, it might be more prudent to postpone buying a vacation house.

 

Buying a vacation house is a hefty investment;

Another thing you should think about are the costs of furnishing the house. This can cost a pretty penny, especially when you’re thinking about buying new furniture. However, it might be a more affordable idea to simply move some of your furniture pieces from your house to your vacation home. After all, you don’t need that much while you’re on vacation. If you need moving services, find an affordable and efficient company, like Evolution Moving Company NB. Hiring professionals is much easier than going there and delivering it yourself.

You don’t actually go on vacation that often

It might be possible that you’re seeing your possible vacation paradise through rose-colored glasses. After all, you’ve returned rejuvenated, relaxed and refreshed. However, you should ask yourself a simple enough question – how often do you actually go on vacation? If you’re vacationing only one week a year, then it might be better to rent. That way, you will save yourself the money and the hassle. And nothing stops you from buying your home later on, when the opportunity arises.

Before you do that, consider another thing. If you’re moving abroad, it can be difficult to find the perfect home. That is why you should do extensive online research. If you’re considering Mexico as your destination, it’s best if you learn everything you can about Mexico real estate trends. There’s nothing better than good preparation. So make sure all your bases are covered when considering a purchase abroad.

What to consider before buying a vacation house?

As we’ve already mentioned, you have to approach buying a vacation house from a practical side. Here are some of the things you should consider before buying.

  • Location. Choose the location carefully. Some locations, no matter how alluring they may seem, are simply a waste of time and money.

The location of your vacation house is incredibly important;

 

  • Consider laws and regulations. This is particularly important if you’re buying a vacation house in a foreign country. For instance, if you’re considering moving to Rocky Point, Mexico, it would be best to learn all about the laws there. Otherwise, you may encounter obstacles along the way.
  • How much would maintenance cost? Draw up a plan to see how much maintenance will cost you in the long run. This will help you decide whether it is worth it.
  • Will you rent it? If you decide to rent it out, you have to consider the taxes and other costs.
  • Insurance. Insurance is pivotal with any type of property, especially when buying a vacation house. Because you’re not going to be there all the time, it’s best to take out insurance. However, if you’re renting it out, your vacation home will most likely not be liable for property insurance. But, you can always try other options.
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  • “Mexican Beach Bum” (Robin Miller) Realtor® is the Designated Broker for Mexico Real Estate and Document Services in the beautiful resort city of Puerto Peñasco-Rocky Point, Mexico, where the desert meets the ocean. Just 210 miles from Phoenix or Tucson and where income producing properties start at $75,000 and homes in town start at $30,000.

    Being in the Mexico Real Estate Industry for over 13 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

    **License #442 (licensing required by the State of Sonora)
    **Accredited Professional Broker in Puerto Peñasco-Rocky Point
    **AMPI member  (Mexico’s Real Estate Association)
    **Executive AMPI Board member of the local chapter 51
    **NAR member (U.S. National Association of Realtors®)
    **Member of the local MLS, Multiple Listing Service
    **Have a full legal team, in house, to assist buyers with obtaining titles.

    With my credentials and the support of my in house legal team, I am qualified to represent, and PROTECT BUYERS as they search for and purchase the perfect vacation home or income producing investment property.

    It is important that a foreign buyer connects with a properly qualified licensed agent for their real estate search and purchase transaction.  Licensed agents, AMPI and NAR members are held to high ethical standards; attend continuing education classes, and keeping up to date on current issues so they can help guide their clients through the buying and selling process in Mexico.

    Ask me for my FREE guide to safely purchase Mexico real estate.

    Contact me:

    US Line in Mexico:   (602) 539-3124
    Mexico Cell:  011-521-638-109-0443

    robin@mexicanbeachbum.com
    www.mexicanbeachbum.com
    www.facebook.com/mexicanbeachbum
    www.youtube.com/mexicanbeachbumtv
    View Puerto Peñasco/Rocky Point Real Estate For Sale
    View Puerto Vallarta Real Estate For Sale

     

Expat Guide for working and living in Rocky Point

Expat Guide for working and living in Rocky Point

Only two decades ago, Rocky Point was a sleepy fishing village. Today, it is a vibrant, not-so-small town with so much to offer. If you want to know more about life and work in this popular expat enclave, you’ve come to the right place. Let’s talk about working and living in Rocky Point – one of the best places to live in Mexico.

Lots of things make Rocky Point such a popular relocation and vacation destination. There’s the proximity to the US, warm climate, low cost of living, stunning nature, friendly people, rich history and culture, just to name a few. Spanish is the main language, but English is also widely used.

Becoming part of the Rocky Point community

Moving from the USA to Mexico is a growing trend. In fact, around 2 million American expats currently live in Mexico, and Rocky Point is one of the most popular cities. Its population is around 62,000 and most of its residents are either local fishermen or expatriates who work and live in Rocky Point. Its full and part time expats engage in charity events and community activities, as well as social clubs and organizations. The locals are very friendly and willing to help, especially if you ask in Spanish.

The cost of living in Rocky Point

Expats coming from a country like the US are pleasantly surprised by how affordable Mexican cities are, even the large ones. Although some items are pricier in cities with more tourists, such as Rocky Point, some neighboring towns are cheaper. As little as $400 per month can be enough for a small apartment, food and utilities. When it comes to transportation, the locals may find it expensive, depending on their monthly income. From an expat’s perspective, it is rather affordable but, again, it depends on your salary. You can easily find a taxi and go from one part of town to another for 30 pesos ($1.50). You can easily travel to other Mexican cities by bus, train or car. Your move does not have to be expensive either. There are numerous affordable moving assistance options at your disposal if you know where to look.

Some local stores sell special American food products including salami, bacon, sausage, pie, diet soda, cheese, bagels, English muffins, spices, etc.

 

Working in Rocky Point

In Mexico, the minimum wage is approximately $4.00 a day, while personal income tax rates are around 32%. The main driving force of Rocky Point’s economy is tourism, while fishing is a close second. Since the city wants to focus on tourism and foreign visitor services, bi-lingual candidates are the most likely to find employment. Expats may find job opportunities with existing foreign owned or managed businesses in this area. In order to work in Mexico, you need permission from the Mexican government. Without permission, you risk being arrested and fined. You can apply for the work document at the local immigration office or any Mexican Consulate office in the U.S.

Finding a home

Whether you are buying or renting, looking for a house, condominium, or apartment in this city, there is a lot to choose from. Check out Rocky Point listings and start your hunt for that perfect beach home you have always dreamed of. Bear in mind that this is a very important investment, especially if you are purchasing a home. Therefore, make sure you have a reliable real estate agent by your side. This is the smart thing to do even when buying real estate in your hometown, let alone a foreign country. Only an agent who knows the area is the right person for the job. Also, we advise you to get homeowners or renters insurance. Working and living in Rocky Point is safer than you think.

Moving your belongings

Before you start working and living in Rocky Point, you need to pack your bags and find a convenient way to get them to your new address. Moving to a foreign country all by yourself it a risk you don’t want to take, trust us. Let professionals handle this part for you. Look for a moving company with experience in this type of relocation. A company that has been working with expats for many years is guaranteed to meet your needs. First, make sure they have a professional-looking website, such as wolleymovers.com, then, contact them personally and schedule an in-home estimate. Do not forget to ask about additional services, like packing and storage. Reputable movers will provide insurance protection, take care of the paperwork and send you the list of items that can’t be imported.

Recreational activities

There is plenty of fun to look forward to after your relocation is finalized. People from all over the world come to spend their vacation here, and that says a lot. With so many great and cheap things to do in Rocky Point, every day you spend here will be an amazing adventure. In addition to swimming and sunbathing, you can also try something less conventional, like surfing, kayaking, ultralight flying, ziplining, snorkeling, or scuba diving. Ride a boat or a jet ski. Attend concerts, off road races, and golf tournaments. Take your family to a seafood or gourmet restaurant and have a great meal at very affordable prices. The city is known for its fresh fish and shrimp. Nightlife is not too shabby either, with a wide choice of bars, clubs, and live music.

In the spring and fall, the weather is very pleasant. However, you can expect around 50 degrees in the winter and 90-95 with high humidity in the summer.

Residency and visa requirements for working and living in Rocky Point

You can live in Rocky Point with an FMM – the temporary tourist card (a.k.a. tourist visa) you get at the border when you cross it. Many people who rent do not even bother with getting a resident card. Foreigners who opt for working and living in Rocky Point must have a resident card, whether it’s a temporary or a permanent one.

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“Mexican Beach Bum” (Robin Miller) Realtor® is the Designated Broker for Mexico Real Estate and Document Services in the beautiful resort city of Puerto Peñasco-Rocky Point, Mexico, where the desert meets the ocean. Just 210 miles from Phoenix or Tucson and where income producing properties start at $75,000 and homes in town start at $30,000.

Being in the Mexico Real Estate Industry for over 13 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

**License #442 (licensing required by the State of Sonora)
**Accredited Professional Broker in Puerto Peñasco-Rocky Point
**AMPI member  (Mexico’s Real Estate Association)
**Executive AMPI Board member of the local chapter 51
**NAR member (U.S. National Association of Realtors®)
**Member of the local MLS, Multiple Listing Service
**Have a full legal team, in house, to assist buyers with obtaining titles.

With my credentials and the support of my in house legal team, I am qualified to represent, and PROTECT BUYERS as they search for and purchase the perfect vacation home or income producing investment property.

It is important that a foreign buyer connects with a properly qualified licensed agent for their real estate search and purchase transaction.  Licensed agents, AMPI and NAR members are held to high ethical standards; attend continuing education classes, and keeping up to date on current issues so they can help guide their clients through the buying and selling process in Mexico.

Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico:   (602) 539-3124
Mexico Cell:  011-521-638-109-0443

robin@mexicanbeachbum.com
www.mexicanbeachbum.com
www.facebook.com/mexicanbeachbum
www.youtube.com/mexicanbeachbumtv
View Puerto Peñasco/Rocky Point Real Estate For Sale
View Puerto Vallarta Real Estate For Sale

Mexican real estate trends

There are some countries which are known all over the world – Mexico is one of them. The climate is beautiful, the people are generous and approachable, and the beaches are heavenly, so what is there not to like? What Mexican real estate trends have been showing lately is that the interest in buying a home in Mexico is growing. If you are looking to buy a house on a budget, now would be the right time to do it. And it doesn’t matter whether you have your heart set on moving to Mexico or simply buying a vacation property – you will be able to profit from both. Here is everything you need to be aware of about the current real estate market in Mexico.

There are good reasons why people are rushing to buy a property in Mexico.

What are Mexican real estate trends showing?

The interest in buying a property in Mexico has been on the rise for the past decade. However, what the year behind us (2018) shows is that there has been a rapid growth in the purchasing of Mexican property. We can only assume what the reasons behind this are, but some say that the main reason is the fact that the entire country is becoming a better place for life. It only makes sense that with good living conditions people will be drawn to a country. So, let’s take a look into the reasons why the country of Mexico is becoming so popular, and why it might make you want to buy a house, hire a moving company such as Premium Q Moving and Storage Boston, and move your entire life to this beautiful and unique country.

You can get your money’s worth in Mexico

When compared to the USA, Mexico is a less expensive country. Let’s imagine you have 200,000 dollars at your disposal for purchasing a property. Of course, depending on where in the USA you wish to buy a property, for that amount of money you might only be able to get a condo. Clearly, we are talking about the city of New York. While in some other, less urban states you might be able to get a two-bedroom home, in Mexico, you can get a spacious beachside property!

Just think about it – you are waking up to the sounds of the ocean, white sand and blue sky. You have a problem discerning where the ocean ends and the sky begins. Sounds magical, doesn’t it? Well, that’s perhaps why Mexican real estate trends have been showing steady growth. You have to admit that when moving to a distant place, it’s much easier to adapt if you’re relocating to a country as beautiful as Mexico, don’t you think?

Isn’t this something you would want to see first thing in the morning?

Watch the value of your property increase

There are many areas in Mexico which are still developing. Naturally, we are not talking about the already urban and developed areas such as Mexico City. We are talking about coastal places which have the potential to become desirable tourist attractions. If you are smart enough to buy a property in one of these places, you will witness an incredible growth in the value of your property in a few years. It only makes sense that houses in developed areas with a lot of visitors cost more than the ones in undeveloped areas. So, when you look at the situation from this point of view, it’s clear that you can even make a lucrative investment out of buying a home. But for that, you would have to follow Mexican real estate trends and planned projects, so that you would be able to predict which area is the best one for your plans. You are still close to home

Mexico and Canada are the two closest countries to the USA. In fact, from some states in the USA, you can reach the Mexican beaches in an hour or so. If you decide to move to Rocky Point, which is one of the closest places to the border, you get the best of both worlds. Namely, you get to live in a coastal town while still being close enough to frequently visit your family. Not everything is about the finances when deciding where you want to live. A lot depends on your emotional state, as well. And if you are a USA resident, Mexico will be one of your first choices, which is why the Mexican real estate trends show growth.

The geographical position could have an impact on Mexican real estate trends.

Additional costs of buying a Mexican property

If you are already a homeowner, you know that there are many costs associated with buying a house. It goes way beyond the initial price of the property. Just like in other countries, there are some costs that the buyer is responsible for and some fees that the seller needs to pay. If you are buying a property in Mexico, the fees that concern you are:

  • Acquisition tax
  • Notary fees
  • Registration fees
  • Closing Coordinator & Escrow

As experts in Mexican real estate, we feel obliged to warn you that, sometimes, these additional costs can be high. You need to make sure your budget is prepared before making any decisions and buying something you won’t be able to return.

Finally, you need to realize that there is a good reason why Mexican real estate trends have been showing rapid growth. You already know that people wouldn’t be in such a rush to get to a bad place, which only tells you that Mexico is an amazing place for life. You don’t have to make a hasty decision – why not visit Mexico, for starters, and see whether life here suits you? There is no reason to rush – we are sure some property in this country will be left unoccupied.

 

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“Mexican Beach Bum” (Robin Miller) Realtor® is the Designated Broker for Mexico Real Estate and Document Services in the beautiful resort city of Puerto Peñasco-Rocky Point, Mexico, where the desert meets the ocean. Just 210 miles from Phoenix or Tucson and where income producing properties start at $75,000 and homes in town start at $30,000.

Being in the Mexico Real Estate Industry for over 12 years, I have been assisting clients with their Mexico vacation home buying and selling decisions in Puerto Peñasco-Rocky Point, and Puerto Vallarta.

**License #442 (licensing required by the State of Sonora)
**Accredited Professional Broker in Puerto Peñasco-Rocky Point
**AMPI member  (Mexico’s Real Estate Association)
**Executive AMPI Board member of the local chapter 51
**NAR member (U.S. National Association of Realtors®)
**Member of the local MLS, Multiple Listing Service
**Have a full legal team, in house, to assist buyers with obtaining titles.

With my credentials and the support of my in house legal team, I am qualified to represent, and PROTECT BUYERS as they search for and purchase the perfect vacation home or income producing investment property.

It is important that a foreign buyer connects with a properly qualified licensed agent for their real estate search and purchase transaction.  Licensed agents, AMPI and NAR members are held to high ethical standards; attend continuing education classes, and keeping up to date on current issues so they can help guide their clients through the buying and selling process in Mexico.

Ask me for my FREE guide to safely purchase Mexico real estate.

Contact me:

US Line in Mexico:   (602) 539-3124
Mexico Cell:  011-521-638-109-0443

robin@mexicanbeachbum.com
www.mexicanbeachbum.com
www.facebook.com/mexicanbeachbum
www.youtube.com/mexicanbeachbumtv
View Puerto Peñasco/Rocky Point Real Estate For Sale
View Puerto Vallarta Real Estate For Sale