An investment property is real estate property that has been purchased with the intention of earning a return on the investment. Many banks and investors say that a real estate investment is much more stable than purchasing stocks! Buying property in Puerto Vallarta and Riviera Nayarit can be a great investment, especially when you join the short-term rental market through websites such as Airbnb and VRBO. Tourism has been booming year after year so homebuyers have seen instant ROI on their property.
Buying an investment property has a few special benefits, such as:
- Increasing Passive Income
The value of properties in Mexico is still relatively low—and they have had a steady increase every year. So that means that your cash flow from your property could increase year after year whether you rent it out yearly, or even if you use it as a vacation property through Airbnb. The biggest benefit to having constant renters is you are able to have a steady monthly cash flow that is relatively easy to maintain. If you choose to use it as a vacation rental, you are able to raise rent prices during peak seasons!
- Property For Retirement
When you are ready for retirement, and most (or all) of your property is paid off, having a place in Mexico is a dream! Beach life is usually quite expensive even in many parts of Mexico, but Riviera Nayarit is very affordable. The Puerto Vallarta and Riviera Nayarit area provides the ideal lifestyle for retirees: the Pacific coastline, diverse activities, affordable living, and many English-speaking expats and service providers.
- Tax Write-Off
If you live north of the border, you know the extreme benefits of owning a property has when it is tax season. In short, owning a rental property can help you “save money” on taxes because you can claim certain tax deductions. These deductions include mortgage interest, property tax, operating expenses, depreciation, and repairs. You can deduct the ordinary and necessary expenses for managing, conserving and maintaining your rental property
Are you thinking of purchasing property in Mexico? The process of buying a home here in the greater Puerto Vallarta area isn’t dramatically different from purchasing a home in the United States or Canada, but there are a few minor differences worth knowing. Ron Morgan Properties is a reputable and experienced full-service, innovative company, which is essential when buying property. We’re here to help you find your new or second home, your best rental options, or your perfect office space in one of the most beautiful Bays in the world! Give us a call today to get started!