What it costs to own the property (year after year)
Beyond the purchase, a property has annual costs that are worth keeping on your radar so you can budget without surprises. They are manageable and predictable:
- Property tax (predial): the annual tax on the property, charged by the municipality. In Vallarta and the bay it is low compared with other countries; paying it early in the year usually brings a discount.
- Annual fideicomiso fee: if you bought on the coast with a fideicomiso, the bank charges a fee each year to maintain it.
- Maintenance and, where applicable, the condominium or homeowners' association fee (security, pool, common areas).
- Utilities: electricity, water, gas, internet.
- If you rent out the property while away, the management fee of whoever looks after it for you.
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