When considering purchasing a property abroad, many foreign buyers, especially those from the United States and Canada, often experience sticker shock when they hear the term “HOA fees.” In their home countries, homeowners association (HOA) fees can be notoriously high. These fees sometimes range from $300 to over $1,000 per month, depending on the location and amenities. This can understandably cause concern when buyers evaluate real estate options in Mexico. However, there is good news: HOA fees in Mexico usually cost much less.
Why Are HOA Fees Lower in Mexico?
One key reason is the difference in labor costs. In the U.S. and Canada, a large portion of HOA fees pays for property management staff, maintenance workers, gardeners, security, and cleaning personnel. These workers earn relatively high wages compared to those in Mexico. In Mexico, lower labor costs allow property owners to enjoy well-maintained common areas and services for a fraction of the cost.
For instance, HOA fees for a modern condominium in Puerto Vallarta, Bucerias, or Sayulita often range from $100 to $300 USD per month. These fees typically cover security, pool maintenance, landscaping, and sometimes even utilities like water or gas. In contrast, a comparable property in a U.S. city can easily demand triple or quadruple that amount.
Benefits of Buying Presale Properties
HOA fees tend to be lower in new developments. Buying presale can be a particularly smart investment for this reason. New condos feature modern infrastructure, plumbing, and electrical systems, which require less maintenance. Developers also design newer projects with efficiency in mind. This approach reduces long-term upkeep costs. As buildings age, maintenance expenses increase, often leading to higher HOA fees. Therefore, purchasing in a presale project not only offers a lower purchase price but also helps keep HOA fees low in the initial years.
Shift Your Perspective on HOA Fees
For those worried about HOA fees, it is crucial to shift perspective when buying property in Mexico. Rather than viewing fees as a burden, think of them as a small investment. This investment maintains the quality, security, and value of your property. Best of all, it comes at a far more affordable rate than what you might pay back home.
Explore Presale Opportunities with VR Realty
At VR Realty, we specialize in presale properties in Puerto Vallarta and the surrounding areas. Our developments offer modern amenities along with reasonable HOA fees. This combination allows you to enjoy a luxurious lifestyle without financial strain. Contact us today to learn more about our presale opportunities and find the perfect property that aligns with your budget and vision.