## Having a home of our own is one of the most important goals for many people.
Fulfilling the dream of having a heritage where to start a new episode in our lives is a very rewarding feeling that makes us feel better about ourselves.
As we have already told you, GOVA has built many new residential developments in the region, and we have been part of many stories of joy for families who have fulfilled their goal of buying a house in Puerto allarta or Bahía de Banderas.
Undoubtedly, it is a very important goal, but there are also many factors to consider before beginning the mission of buying a house. And in the following publication we will tell you the essential elements you should know before deciding to buy a house in Puerto Vallarta or Bahia de Banderas.
What should you consider before buying a house?
Factors such as location, method of payment, deed expenses, study contracts and take into account the appreciation of the property you are going to buy.
An investment like buying a house for many people represents the biggest investment they will make in their lives, so you should keep your eyes open.
Save
You must prepare yourself economically before starting the process, the price of real estate in Mexico is getting higher and higher, so you must be realistic with your income and expenses and see that it is within your possibilities. Establish a budget and stick to it.
Even if you have enough saved to buy in cash, keep in mind that you will have more expenses, such as:
- Deed
- Contracting services
- Insurance
- Other procedures
- If you intend to apply for a mortgage loan in Mexico, remember that the institutions that grant these loans do not cover the entire cost of the property. Therefore, you must have enough savings to pay a down payment.
Choose wisely
Before making a decision as big as buying a house, analyze your needs. You may not require a very large space and an apartment may be a better option for you.
Also study the area in which you plan to buy. Make sure it has the basic services for a comfortable and happy life, such as:
- Electricity
- Water supply
- Garbage collection
- Access to recreational areas
- Proximity to health and commercial centers
- Remember that this will be your investment and your patrimony, so choose well where you place your money.
Mortgage loans in Mexico
With the current market prices, saving enough money to buy a house in cash can be very complicated. In addition, many people prefer not to decapitalize completely.
Mortgage loans in Mexico are an excellent option to reach your goal of acquiring a property.
The National Commission for the Protection and Defense of Financial Services Users (Condusef) has identified all the institutions that grant mortgage loans in Mexico. You can review their comparisons here.
There is no mortgage loan that is best for everyone, since each person has different circumstances, possibilities and interests. For this reason, we recommend you:
- Approach several institutions
- Compare their requirements and conditions
- Choose the option that best suits your situation.
- Key factors when choosing a mortgage loan
Before making a decision, take into account the following aspects:
Your personal finances: Buy according to your means and verify that you can afford the mortgage loan.
Total Annual Cost (CAT): This is the real interest rate you will pay each year for the loan. Check this figure at each institution.
Additional charges: Costs may be added to the monthly payment for your loan:
- Insurance
- Commissions
- Penalties
- Analyze these numbers to know how much you will really pay each month.
- Type of financing: Loans can be granted in:
- Pesos
- Foreign currencies
- Units such as Veces Salarios Mínimos (VSM) or Unidad de Medida y Actualización (UMA), which depend on inflation.
- Whenever possible, opt for a loan in pesos to avoid worries about conversions.
- A safe investment with a high capital gain
At Grupo Gova, we make sure your investment is safe. Our homes include all the services you need to enjoy a dignified life with your loved ones.
Our subdivisions are located in areas of high added value, which guarantees that your investment will grow over time. You can review our projects and find the best option for you.
An investment like buying a house for many people represents the biggest investment they will make in their lives, so you should keep your eyes open.
In this article, you will discover why Puerto Vallarta is a perfect destination to live and invest:
- Warm and sunny weather all year round.
- White sand beaches and crystal clear waters
- Rich culture and delicious cuisine
- Vibrant nightlife
If you are looking to invest in a property in a growing tourist destination, Puerto Vallarta is an excellent option, come and fall in love with this Mexican paradise!
We work with several financial institutions that grant real estate loans in Mexico. If you wish to buy a house in Puerto Vallarta or Banderas Bay, contact us and get to know our financing options.
Before making an important decision, get to know us.
