This is my two pesos worth of thoughts. Puerto Vallarta is in a seismic risk zone (varying in parts from high risk to moderate risk). My absolutely first step I would take in purchasing a pre construction building would be to read the structural engineer's reports on the soil and the type of foundation and the size of and re bar content of the above ground support structure. I stayed in a relatively new condo up on the hill in cinco de deciembre several times and watched a multi story structure being built, and I was shocked at the minimal amount of re bar and corners which were not tied together (the ties and corner re bar essentially keep the building from collapsing). Add this to your list of concerns when purchasing. Best wishes.
Great advice re the condo fees: I always look at places (as I research on line) with the lowest possible fees because I know from experience they can go up. When I bought my condo in Canada (which I have sold for a nice profit as you can imagine), my feels went up exponentially (partly to unforeseen events and partly inept management). So when I sold, they were almost $700 a month (which included nothing other than snow removal, garbage, and outisde maintenance - no rec facilities, no utiliities included). Another lesson I learned is not to buy too big a place, as mine was 1500 sq ft which adds to the fees (which I did not know at the time; going to keep my new place to 1000 sq ft max)
Yea hoa's are brutal!! Especially in your case, no pool etc, just normal stuff. I watch Mexico life all the time, and some are $700+usd per month. It would definitely influence my buying decision as that is coming out of monthly cash.
@@wusthof641 Yes, which is why it is nice to buy a condo that is not pre-sale if you are worried about the fees going up. Also you have to research in depth. I would rather go freehold or find a small house. On the other hand my first condo had low condo fees that never went up in 4 years.
We bought pre construction. Could not be happier. Get a lawyer to do the contract and make sure it’s a reputable builder. You get a 1 year warranty by law. The appreciation has been incredible.
I really liked this video. I hope your Pre-construction Condo build goes well and that it is a smooth process. I look forward to hearing more about your course.
Thank you very much Victor! Please send me an email if you would like to be on the list to buy the guide and thank you for your support! elenanevza@gmail.com
Hola Elena. Great information. I would like to recommend you to someone who is looking to buy a property in the beautiful Puerto Vallarta. You are awesome 🙂
Interesting video Elena. Smart of you to have bought in 5 de diciembre as that is within walking distance of the malecon and zona romantica. I usually ignore most of your videos because the locations/areas are suboptimal for a retirement or vacation home. In my opinion being within a kilometer (or 15 minute walk) of the Zona romantica and the malecon is a must. For an extra 25-30% cost it is worth it for many reasons. Hope you keep vlogging about your pre-sale purchase experience. Cheers!
Great video! Congratulations! If anyone is interested I do have a 1 bedroom condo for sale in Versailles, slated to be completed in December things changed for us and we’ve decided to sell it.
Elena - thanks again for perspectives on P.V. We finally have our house on the market and hope it sells soon so we can be staying in P.V. which is always a fun place to be.
I am curious about condo law in Mexico which I assume varies by state. This is something I would love to find out about. I went through a nightmare experience with the drama and ineptitude of my condo board in Ontario (not sure about BC law) Ontario condo law despeartely needs revision and again, something I learned, the owner has very few rights: once a board is elected if they are morons they can squander the money, not keep up with repairs and basically form their own little clique to do what they like. I had a water leak from outside that went on for over 3 years and they basically ignored me until I had to badger them with every once of strenght I had. Took months to repair and then I was ready to get out of Canada anyway. Fortunately, the market was so good, the past repair issue did not stop me from selling for a good price and in a timely way. This is one reason I considered buying a small house or freehold apartment/townhouse but my budget is not huge and condos are so easy maintenace. I just don’t like not having control over one’s living arrangments.
Hi Mel! Great to hear from you! Condo laws here differ from state to state as you mentioned and in my opinion if it came to that, it would be a long process to get anywhere involving the lawyers etc. Just like back in Canada to be honest. So my best suggestion is to do as much research as possible prior to purchasing.
Hi Wyatt, thank you for watching! The contact was in Spanish and English, however it’s very important to have your realtor or lawyer be able to check the Spanish contract as it will prevail in case of a discrepancy between English and Spanish.
Numerous construction delays in the Lower Mainland of Vancouver and sometimes coming out of the gate with permits which are a slow process in cold Canada.Bah Humbug!!!
@@ElenaNevza Do you have any recommendations on lawyers? We close on a condo property this month :). The notary, real estate agents will be present but I feel like we need a lawyer too especially because of the language barrier.
HOA fees have doubled since 2019 in most of Florida, notably in retirement areas. Same thing could easily happen in Mexico since construction materials have increased everywhere. This high peso might have shielded Mexicans from price increases.
Elena. I want to send money for a rental in the Quadrant from an agent in Bucerias. He is based in Puerto Vallarta. Want to make sure he is legit. How can I check him out? Name is Francisco de Asis Carlos Vidal Pina. I met him last month and he showed us the condo in the Quadrant.
Hi Aleta, unfortunately there is no way I know of how you could check that without being here and trusting the agent / agency. Is the agent with an agency? Are they reputable? those are questions I would ask and even then, I would check the contract etc. Good luck!
LOL, I think she means something else…”Karen’s” referring to the drama queens in your HOA ;) At any rate I appreciate your ernest info in your videos (and positive bubbly personality). We’re toying with the idea of buying in bucerias a 2nd home. I’ll reach out before we visit bucerias again (early 2023). FYI I actively invest in RE in San Francisco, so it’s interesting comparing and contrasting the experiences to Mexico. Cheers!
@@ElenaNevza i feel like they keep coming up with more ways to make up for the discount price? if the condo was already fully ready and you bought it at full price would there be any suprises?
This is my two pesos worth of thoughts. Puerto Vallarta is in a seismic risk zone (varying in parts from high risk to moderate risk). My absolutely first step I would take in purchasing a pre construction building would be to read the structural engineer's reports on the soil and the type of foundation and the size of and re bar content of the above ground support structure. I stayed
in a relatively new condo up on the hill in cinco de deciembre several times and watched a multi story structure being built, and I was shocked at the minimal amount of re bar and corners which were not tied together (the ties and corner re bar essentially keep the building from collapsing). Add this to your list of concerns when purchasing. Best wishes.
Thank you Brian for sharing your thoughts. Yes, very good points when looking to buy on the hill or near the water. Thank you for watching!
Wow great insight !!
Very, very good presentation Elena !! So many tips you share with your subscribers .
So proud of my bright and intelligent daughter:))) ❤️
Thank you my beautiful mama 🥰
Great advice re the condo fees: I always look at places (as I research on line) with the lowest possible fees because I know from experience they can go up. When I bought my condo in Canada (which I have sold for a nice profit as you can imagine), my feels went up exponentially (partly to unforeseen events and partly inept management). So when I sold, they were almost $700 a month (which included nothing other than snow removal, garbage, and outisde maintenance - no rec facilities, no utiliities included). Another lesson I learned is not to buy too big a place, as mine was 1500 sq ft which adds to the fees (which I did not know at the time; going to keep my new place to 1000 sq ft max)
Thank you Mel!!!
Yea hoa's are brutal!! Especially in your case, no pool etc, just normal stuff. I watch Mexico life all the time, and some are $700+usd per month. It would definitely influence my buying decision as that is coming out of monthly cash.
@@wusthof641 Yes, which is why it is nice to buy a condo that is not pre-sale if you are worried about the fees going up. Also you have to research in depth. I would rather go freehold or find a small house. On the other hand my first condo had low condo fees that never went up in 4 years.
We bought pre construction. Could not be happier. Get a lawyer to do the contract and make sure it’s a reputable builder. You get a 1 year warranty by law. The appreciation has been incredible.
Congratulations Corey!
Where did you buy?
Good clip in showing the pitfalls of owning property in Mexico.
Thank you Andrew!
Please, do so. We want to buy a place pretty soon. Gracias por your hard work.
Thank you 😊 will definitely do!
I really liked this video. I hope your Pre-construction Condo build goes well and that it is a smooth process. I look forward to hearing more about your course.
Thank you very much Victor! Please send me an email if you would like to be on the list to buy the guide and thank you for your support! elenanevza@gmail.com
Hola Elena. Great information. I would like to recommend you to someone who is looking to buy a property in the beautiful Puerto Vallarta. You are awesome 🙂
Thank you so much Liudmila! 🥰 I am so happy you find the information useful 💕and thank you for your kind referral!
Yes please. I am thinking of buying for investment to future retirement. Thank you Elena
Thanks! Please email me
Interesting video Elena. Smart of you to have bought in 5 de diciembre as that is within walking distance of the malecon and zona romantica. I usually ignore most of your videos because the locations/areas are suboptimal for a retirement or vacation home. In my opinion being within a kilometer (or 15 minute walk) of the Zona romantica and the malecon is a must. For an extra 25-30% cost it is worth it for many reasons. Hope you keep vlogging about your pre-sale purchase experience. Cheers!
Thank you Bert! I will definitely continue making the videos.
Great video! Congratulations! If anyone is interested I do have a 1 bedroom condo for sale in Versailles, slated to be completed in December things changed for us and we’ve decided to sell it.
Thank you very much Lauralee! Good luck with the sale of your condo, I am sure it will sell fast!
Great video Elena! Thank you and hello from Windsor, Ontario, Canada 🇨🇦
Thank you Sadie! Great to hear from a fellow Canadian 💜
Another fantastic video! Congratulations, how exciting!!
Thank you so much @eyesea 😊
Elena - thanks again for perspectives on P.V. We finally have our house on the market and hope it sells soon so we can be staying in P.V. which is always a fun place to be.
Great news Dennis! Good luck with the sale and will see you here soon!
Hi. Boots on the Ground!!! thanks for your information. glad you got a place!!
Thank you Caren!!!
Thanks for all your tips and sharing your experiences!
Thank you for watching Jorge!
Congrats!! I hope I can do the same very soon. Love watching your videos.
Thank you! Good luck 👍
Thank you for sharing your personal experience. Priceless!
Thank you so much Laila 💕
Thank you Elena! You are always so informative 😊
Thank you Goldie 😊
I am curious about condo law in Mexico which I assume varies by state. This is something I would love to find out about. I went through a nightmare experience with the drama and ineptitude of my condo board in Ontario (not sure about BC law) Ontario condo law despeartely needs revision and again, something I learned, the owner has very few rights: once a board is elected if they are morons they can squander the money, not keep up with repairs and basically form their own little clique to do what they like. I had a water leak from outside that went on for over 3 years and they basically ignored me until I had to badger them with every once of strenght I had. Took months to repair and then I was ready to get out of Canada anyway. Fortunately, the market was so good, the past repair issue did not stop me from selling for a good price and in a timely way. This is one reason I considered buying a small house or freehold apartment/townhouse but my budget is not huge and condos are so easy maintenace. I just don’t like not having control over one’s living arrangments.
Hi Mel! Great to hear from you! Condo laws here differ from state to state as you mentioned and in my opinion if it came to that, it would be a long process to get anywhere involving the lawyers etc. Just like back in Canada to be honest. So my best suggestion is to do as much research as possible prior to purchasing.
Absolutely fantastic information! Thanks for sharing this video!
Thank you very much Lisa 💕
FYI I left you a note towards the bottom, under Candace comment
I’ll be there for this weekend, would like to view some of your recommendations for a family of 4 & potential rental… Thank you kindly 😊
Hi Ricardo, I don’t deal with rental properties unfortunately, good luck!
Спасибо Елена, очень интересно. Ждём продолжения :)
Thank you Elena. Was your contract in English so you could easily understand the terms?
Hi Wyatt, thank you for watching! The contact was in Spanish and English, however it’s very important to have your realtor or lawyer be able to check the Spanish contract as it will prevail in case of a discrepancy between English and Spanish.
Congratulations , great video
Thank you Mirella! 😊
Numerous construction delays in the Lower Mainland of Vancouver and sometimes coming out of the gate with permits which are a slow process in cold Canada.Bah Humbug!!!
Haha its a slow process here too, but at least its warm 😉
I am one of those grateful types and waiting in a warm climate is better than waiting in a cold climate...
Thank you for your honest personality.
Thank You !!!
Thank you gracias
Thank you
Thank you Elena, How was your closing process? besides the notary & the real estate agent did you have anyone else, present?
You are welcome @BevS yes, we had the developer and lawyers present as well.
@@ElenaNevza Do you have any recommendations on lawyers? We close on a condo property this month :). The notary, real estate agents will be present but I feel like we need a lawyer too especially because of the language barrier.
Hi @BevS please email me, elenanevza@gmail.com
Any good deals in the south areas like conchas chinas or even further?
I don’t usually go out that way much, but will be checking some options there this week hopefully! There are always deals to be found 😉
HOA fees have doubled since 2019 in most of Florida, notably in retirement areas. Same thing could easily happen in Mexico since construction materials have increased everywhere. This high peso might have shielded Mexicans from price increases.
Economic factors at play here for sure. Think of it as $ is loosing value not prices increasing.
Great infos!
Thank you Grace!
Hi! Can I use my realtor in the U.S. that speaks Spanish as my representative or do I have to use a realtor in Mexico? Thanks!
I would only recommend using a realtor who actually knows the market and customs/laws here and is familiar with contracts, developers etc. Good luck.
what do you recommend for condo insurance? I am looking at using a company in Puerto Vallarta called Guardian. Are you familiar with them.
Best way is to see what others say about them. I personally use Novamar.
Hm did you have chicken around 😅
How much
Read the fine print. Hire a lawyer. Prices subject to change. Non- refundable deposit.
Yes, definitely read the contract and have a great team by your side.
Elena. I want to send money for a rental in the Quadrant from an agent in Bucerias. He is based in Puerto Vallarta. Want to make sure he is legit. How can I check him out? Name is Francisco de Asis Carlos Vidal Pina. I met him last month and he showed us the condo in the Quadrant.
Hi Aleta, unfortunately there is no way I know of how you could check that without being here and trusting the agent / agency. Is the agent with an agency? Are they reputable? those are questions I would ask and even then, I would check the contract etc. Good luck!
Wow, so there are Canadian Karen's?
Yes Candece! Its in Bucerias right on the beach and it’s beautiful, great food!
LOL, I think she means something else…”Karen’s” referring to the drama queens in your HOA ;)
At any rate I appreciate your ernest info in your videos (and positive bubbly personality). We’re toying with the idea of buying in bucerias a 2nd home. I’ll reach out before we visit bucerias again (early 2023). FYI I actively invest in RE in San Francisco, so it’s interesting comparing and contrasting the experiences to Mexico. Cheers!
Ahh lol, re: Karen’s, well there definitely are variety of personalities. Great, thanks for watching @SF Rentals! Good luck with your search 😀
NOPE????
What do you mean Joe? 😀
@@ElenaNevza i feel like they keep coming up with more ways to make up for the discount price? if the condo was already fully ready and you bought it at full price would there be any suprises?