Full Ownership in Puerto Vallarta Real estate is the biggest investment most people make in their life. Because of this, growing your real estate portfolio will enable you to gain more financial freedom that the majority. The current real estate markets are booming with huge potential returns. Many people from the North American countries are turning to hold international properties. These people don’t care about the boundaries and believe in enjoying life by exploring their options.
Similar is the scenario in the Mexican real estate market. People from America and Canada are buying real estate in cities where they can enjoy the retirement years of their life. With low living expenses, cities like Puerto Vallarta have become a major destination for expats. Puerto Vallarta real estate offers high gains and a guaranteed life of leisure.
People moving to settle in PV encounter two options while looking for real estate. Read on to know about these options of purchasing real estate in this city.
Full Ownership and Fractional Ownership
Since people from all over the world are flocking to buy real estate in Puerto Vallarta, the government has offered two options:
- Full Ownership of a property.
- Fractional Ownership of a property.
Fractional ownership often called vocational ownership, allows you to partially hold share in the real estate you buy.
Whereas in full ownership you are the sole owner of the property you buy. There is a trust created by the bank in your name where you are named as a beneficiary. Once you have paid off the required value of the house, the trust is dissolved and you become the only owner of that property.
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Why Full Ownership is better?
The fractional ownership is for people who are not going to reside permanently in the city. This type of ownership is often termed as vocational ownership. Here are some reasons why you need to go for the full ownership option.
- You will have the liberty to make changes. For example, renovations, furniture design and revamping the curb appeal.
- You will be in charge and the only one to call the shots.
- The property will fall under your care. It will be up to you to decide what to do with the house and how to go about taking care of it.
- Reselling the property will also be in your hands. You can buy, hold it for some time and get a profit on the resale. Moreover, you can also flip it for more money.
- The most feasible option you can go for is the rent option. When not in use, you can simply find new tenants for the house and increase your cash flow by renting it out.
There is a huge difference between sharing a piece of the pie and owing the entire pie. Owing the entire property puts you in charge and helps increase your asset list. If you have a list of assets and a sound portfolio under your belt, no one can stop you from achieving the financial freedom everyone talks about.
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