Purchasing a luxury residence at Villa La Estancia in Riviera Nayarit near Puerto Vallarta in Mexico offers many elegant benefits to homeowners, including making the payment of utilities and expenses relating to running your home simple. Not only will you be able to find support and advice with the Villa La Estancia Residences homeowners’ association but many of your monthly expenses are covered by your maintenance fees.
However, owning a property in Riviera Nayarit and Puerto Vallarta can seem daunting for some homeseekers, which is why we have compiled a list of tips to help you navigate your way around the expenses and practicalities of homeownership in Riviera Nayarit and Puerto Vallarta, Mexico.
Put Utility Bills in your Name
There are a number of circumstances when you will be required to provide proof of address in Riviera Nayarit and Puerto Vallarta, such as immigration procedures, getting a Riviera Nayarit or Puerto Vallarta driving license and so forth. Making sure that you have at least one utility bill in your name will save you the trouble and risk of carrying the deeds to your property with you to carry out simple formalities.
If you are not planning to live in Riviera Nayarit or Puerto Vallarta throughout all the seasons, you have the option to pre-pay many of your bills in preparation for your absence. Villa La Estancia residences in Riviera Nayarit make it easy for homeowners who can pre-pay maintenance fees or leave a voucher to authorize payments.
Open a Bank Account
Having a Mexican bank account will come in very useful and is fairly straight forward if you are planning to live in Mexico or spend your winters here. Not only can you manage your utility bills and expenses but also transfer funds internationally. The best advice is to choose a bank that has on-line services and great customer service. Many banks in Riviera Nayarit and Puerto Vallarta employ staff with a good level of English.
Each condo or residential complex will be different, but most, like Villa La Estancia Residences, will charge maintenance fees every month. Some properties may charge fees quarterly and give discounts for advance payments.
Property taxes or “predial” are due each year in January. Paying your property taxes is simple enough or you can pay online. You will need your Property Tax ID number (Cuenta Catastral) and a copy of the deeds to your property, or the previous year’s bill. You get a discount if you pay in January of February. Villa La Estancia Residences fractional property owners will not need to worry about these taxes as this expense is included in your maintenance fees.
Income from Rentals
Some Villa La Estancia Residences homeowners choose to rent their properties during those times when they are not occupying their luxury home in Riviera Nayarit. This is equally true of fractional owners during their allotted time. Renting your property can help offset your maintenance costs, although you must ensure that you seek advice regarding taxes on your income from rentals in Mexico.