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Many people approach first time property purchases in Mexico in the same manner as they buy clothing or shoes. “Does this fit? How do I look wearing this coat?” They like the store, the cut of the cloth and style but still have to spend a few moments wearing their new outfit in front of the mirror before they select their next garment.
In my experience, I have observed that many of my first time buyers often wish to start with a modest purchase to see how they like living or having a home in Mexico and more importantly how the actual buying process has developed. How well did the property selection and negotiations proceed? How much paperwork was needed? Did the notary discharge his duties efficiently and accurately? All these thoughts occupy their waking hours until at last a degree of comfort has been reached.
 These pre-occupations are common and quite natural. Unknown or unexpected factors remain fixed in the new home owner’s mind until the documents are signed and the keys are placed in their hands. Hence the baby steps! What happens next? The new property owner will often use his new acquisition for vacations, perhaps rent it out some to help defer the cost of his investment and look forward to his retirement when he can either occupy his home full time or as an escape from the long winter months.
At this point, after a few years or so, I often see my purchasing customers decide that their place will not accommodate all of his family and friends (as his popularity has risen dramatically for some unknown reason), is not upscale enough or desires a new or better location. Having worked through the anxieties and doubts related to the initial purchase and finding them unwarranted, I notice that these same customers proceed to upgrade and or add to their real estate holdings in sunny Puerto Vallarta by either selling their existing property at a profit or retaining it as an rental income producer.
If anyone has been considering acquiring a “place in the sun”, don’t forget that sometimes it can make sense to first take those baby steps and try it on for size.
Charlie Rondot - Real Estate Adviser - Coldwell Banker La Costa Realty
E-mail: crondot@cblacosta.com
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