Puerto Vallarta or Riviera Nayarit part ll
Building your dream home South of the Border….. Puerto Vallarta or Riviera Nayarit?
Did you read already the previous part? click here if not: Puerto Vallarta or Riviera Nayarit part l
Part II Land-searching – shopping checklist:
• View – golf course – ocean – mountain
• Location – location – location
• Orientation to the sun, of course depending on the season of the year, this is crucial.
• Zoning restrictions or CCR’s if building in a master planned community.
• The possibility of someone blocking your view
• Noise and traffic patterns at different times of the day/week/year.
• Services like water, sewage, electricity, telephone, etc.
• Potential title issues
Go out there and get a feel for the vibe and energy of the area you have chosen, walk around at different times of day, check out the activity.
It is important that you also consider environmental catastrophes; unfortunately, Puerto Vallarta and Riviera Nayarit have their share of earthquakes, hurricanes, and flooding.
Don’t be put off by this type of situations, most of the world has something and disasters can in many cases be prevented.
Some of these issues may scare some buyers, but by solving problems you create value.
Sometimes the best deals are the ones that look and are more challenging and where people immediately turn their heads around because they can’t envision the final product.
With the assistance of your real estate agent, do your due diligence on the local real estate market.
Ask him/her all kinds of questions, it will be important to know how much time the land has been for sale as this can determine your bargaining power.
If the market is healthy / hot, consider subsidizing your project (if you can afford it) by purchasing more than one lot and building a second house that you can sell, this way you will minimize the cost of your own home, maybe even get it for a fraction of the price you had initially budgeted.
During the due diligence period, you sales agent should make sure to get in writing, what services are included with the land; water, sewage, power, access to roads, telephone, internet, etc.
Some raw land can be very inexpensive, but you need to be aware of the time and cost in the event you need to improve the infrastructure, almost every piece of raw land needs work.
As always, either you see the glass half full or half empty and for some people the lack of services presents an opportunity.
Nowadays with global warming and pollution, the opportunity in this case would be to build your home in an eco-friendly way— solar power panels, desalinization plant and waste treatment systems. This way, you will end up having a green, self-sustaining home and saving considerable amounts of money on utilities.
If you are ready to make an offer on a piece of land, make sure that your sales agent includes in the due diligence, that you will be hiring a professional to perform some soil test an also a topographical survey.
It will be very important to know what type of soil you will be facing once you start building. The cost of foundations can vary so you need to know and be prepared.
The secret to your success in having your dream home will be hooking up with a good architect; this can really be the deal breaker and in some cases a real challenge.
We suggest that you speak to other people, neighbors in the area, you real estate agent, but find the time to interview several until you feel you have found the right person that you can work with.
If you like other homes no matter the area, stop and find out who designed them and who built them, the worst case scenario is that whoever answers the door doesn’t know or doesn’t want to tell you.
Think about how you will use your new home. Will you be living there full time, or part of the year? Will it be only you and your wife / partner? Will the kids and grandchildren come, for how long? Do you plan to entertain a lot? Do you need an office to work at times? Would you prefer to have what they call “marketable” features, so that in the event you want to sell, the house appeals to the majority of potential buyers? Or would you rather have some uniqueness? Would you need to rent it when you are not there? Is it important to you to be child and eco-friendly?
Write down all of the questions and answers you can think of, so you can clearly communicate your priorities to your architect and builder.
Don’t forget that this is a 3 part article so please wait for part III and final article.