GAY VALLARTA

You really have all the burdens and benefits of ownership. You can sell it, you can gift it, you can will it….You can renew it anytime and then it runs for 50 more years, and it has a minimal cost.”

“The net effect of this provision is that the foreign person is permitted to do anything with his/her property that a Mexican citizen can do.

The key difference is that a fideicomiso structure allows for a nonjudicial foreclosure process. This would make it easier for fideicomiso beneficiaries to lose their properties than fee simple owners.

However, “the Mexican government is fully aware that it would destroy their property values if they just started indiscriminately taking property away from people,” so there is little fear of that happening.

Multi-family housing in Mexico

One of the problems down here is the MLS does not hold all the properties. There’s a great deal of pocket listings.

Stewart Title, First American and Fidelity offer Mexican title insurance. “Knowing that you get U.S. title insurance from a U.S. company that’s enforceable in the U.S. courts gives people tremendous comfort. After purchase, the title must be registered with the local and federal government, and foreign investments must be registered with Mexico’s Secretary of Economy.

Many Mexican sellers are used to getting earnest money paid in cash and don’t understand the nature of escrow or why it is necessary, but that is changing as more American investors enter the market.

In the past, some buyers tried to avoid property taxes by saying they bought property for less than they actually did, but they then encountered the 29 percent capital gains tax when they sold. That’s a huge mistake because property taxes are…almost nothing, compared to anything in the United States.

What It Will Really Cost Living In Vallarta

I have friends visiting from Canada this week, as usual they are full of questions about Vallarta, and what it really takes to live here. After a week of fun and sun they are considering doing the snow bird thing. To young to retire, but thinking about tomorrow, dreaming about warm whether and margaritas. Now who can blame them.

“China how much is beer, what about eggs, what about utilities, etc. When we buy that dream condo, how much will our monthly living really cost.”

That will depend on each individuals live style, the following should give you some idea.

If you are snowbirding, that means 4 to 6 months, you will keep your medical coverage from home, if you are not, you will be living here full time your coverage will between 500 – 2,700 a year depending on the type of coverage you want. Medical service is great here for the record, and dental service is a gift. Cleaning is approx 100 -150 pasos, that’s 10 to 15 dollars for a cleaning, does it get better than that. A crown is approx 120 US. Why get dental work done anywhere else.

A local dinner show, and we have some great local talent is about 25 dollars, that includes a drink, dinner and a great show. A movie is about 4 dollars. A burger with fries is about 6, so you do the math, 2 burgers plus to movie tickets, when was the last time you took a friend to the movies for that kind of money. Just got to love it.

A liter of soda is 1.20, eggs 1.50, milk .90 chicken 6.00, a real nice steak 3.50 bag of rice 1.80, bag of beans 1.80 veggies, very cheep, sliced ham approx 2.00 for one pound. Cereal is about 3.50 or 35 pasos, butter real butter approx 3.50 Dog food for a really big bag is 20.00 but thats a really big bag. I have a street dog that adopted me, Diego eats like a horse so I get the big bags, less trips to the store.

Booze, I don’t drink but I know Kahula is 8.00 or 9.00 under 10, a brandy about 7.00 rum 8.00 most is in the 10 dollar range and wine is anywhere from 2.50 up. Beer a case of 24 is about 11.00 not to bad

Going out for a bite, well that depends of where and what. Lunch in a nice Mexican Comida Corrida place is 5.50 and really good homemade lunches. Places like the Outback or Chilies expect to pay 15 per person and then what every you drink on top of that.

There are some really great Mexican Rest for dinner and you can expect to pay the same as the Outback.

A day on the beach, sitting under a palapa, having lunch and a few sodas, about 10.00 each for the entire day. It does not get any better than that.

Utilities are also a gift. Water bills are so low about 5.00 a month, cable 25.00 pay early and its like 18.00, telephones are a problem so many people have cels phones, a land line is about 25.00 a month, and cels depend on you plan. Long distant plans on cels are also a gift. For 10.00 I can call the US and Canada for next to nothing and that will allow me to make about 7 – 8 calls 20 minutes each. Got to love it. Gas for the stove and hot water is about 10 per month, less in the summer, just a little more in the winter. Electric depends on where you live and how much you use, in the summer it can be quite high, I have seen crazy bills but those are people who are running the air 24/7 so that’s one I can’t help you with.

Your maid is wonderful, they take care of your home, but more important, they take care of you and yours. Truly a blessing. I have had my maid for years and love her to pieces. Depending on your needs, anywhere from 150 pasos for 3 hours, she will come in 1 or 2 days a week or for 4,000 paso thats 400 she will attend your home everyday. A live-in maid will be about 5 to 600 a month. They will wash floors, clean the stove and fridge, make beds, do the wash, and ironing, do the shopping, cook, pay bills, care for your children, and walk the dog. Take care of you when you are sick, run to the drug store and make you soup, just try taking my maid from me. The fight is on.