Real Estate > Buying vs. Renting
Find the perfect “rental” every time when you own a piece of Mexico!
No more aimless searches on the internet, no more crossing your fingers that the place you rented over the phone is as nice as it looks in the photos. And that’s just the tip of the “benefit iceberg” of owning your own vacation home! Take a look at the pros of becoming an American owner in Mexico.Advantages of Owning a Condo, Apartment or Vacation Home
- Build personal equity. Over time, the mortgage balance decreases and equity builds, even if the value of the home does not increase.
- You can make your vacation house feel like home. Unlike a rental, you have the ability to remodel and redecorate the home to match your needs and desires when you own.
- Owning is less “taxing”. There can be tax advantages attached to home ownership - and in Mexico, there are significantly less property taxes than in the US.
- Earn money from renters. Why pay someone else’s mortgage when you could be paying off yours instead? You can rent out your property when you’re not enjoying it, and put that money toward paying it off.
- The future is closer than you think! If you’ve always imagined retiring to the tropics, the time to buy is now. No matter what stage you are in your career, by owning property in Mexico now, you’ll set yourself up for a future of luxurious relaxation in a beautiful destination.
Disadvantages of Renting Property
- No gain. No matter what happens with the value of the home, you will never gain equity.
- Limited living. Limited-or no-ability to personalize your living quarters.
- No tax breaks. No tax advantage to renting. Your landlord gets any and all tax breaks that are available.
Los Altos Villas – Puerto Vallarta, México
At the intersection of Costa Rica Street and Panama Street, Jalisco, Mexico, 48380
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