Page 1

Resident Tip Sheet

Introduction / Arriving in the Mayan Riviera / The Cost of Living / Health & Wellness / Making a Living / Community / Retirement Living / Family Life / Learn the Language / Pocket Guide

Market Overview

Introduction / Arriving in the Mayan Riviera / The Cost of Living / Health & Wellness / Making a Living / Community / Retirement Living / Family Life / Learn the Language / Pocket Guide Puerto Vallarta and The Riviera Nayarit

1


Introduction

2

Resident Tip Sheet


Resident Tip Sheet Introduction Arriving in the Mayan Riviera The Cost of Living Health & Wellness Making a Living Community Retirement Living Family Life Learn the Language Pocket Guide

Puerto Vallarta and The Riviera Nayarit

3


Introduction Puerto Vallarta and the Riviera Nayarit

B

y taking Puerto Vallarta and the Riviera Nayarit together we are covering a section of coast that crosses state lines. Puerto Vallarta, one of the oldest beach vacation spots for Americans in Mexico, is the coastal jewel of Jalisco. The Riviera Nayarit, a new name for an up-and-coming destination that stretches from Nuevo Vallarta to San Blas (and promises to keep being extended north to the border with Sinaloa) promotes the state´s coastline with a dash of European chic. From just south of Puerto Vallarta´s center to San Francisco (San Pancho) to the north, is about 40 miles of remarkably diverse culture and coast. From the colonial Mexican city center of Puerto Vallarta to Sayulita´s hippie chic pueblo beauty, there is something for just about any taste from luxurious to simple. It´s hard to believe that fifty years ago, around the time that Elizabeth Taylor and Richard Burton fell in love here and kicked off a real estate rush when they bought Casa Kimberly on top of the cobbled hill overlooking the Banderas Bay, that Puerto Vallarta´s municipal population was about 15,000. Today, the population of Americans and Canadians in the area is greater than that, about 50,000 tourists arrive every week in ¨P.V¨, as Gringos like to call it, and the section of town where Liz and Dick bought is called Gringo Gulch. Redguide´s Resident Tip Sheet is designed to help you quickly get a feel for what life is like in Puerto Vallarta and up the coast to Nayarit. We offer insight into Community, Health and Wellness, services for Retirement, considerations for people who hope to earn their stay by Making a Living, and much more. Importantly, we try to give you some sense of what your costs will be. No one knows your lifestyle expectations better than you, and our guidelines will help you figure out a budget that suits you. Then, move on to our Market Overview, where we offer a snapshot of the area´s real estate market. Happy exploring!

4

Resident Tip Sheet


Arriving in Puerto Vallarta and the Riviera Nayarit

Getting around

M

etro Bus service in Puerto Vallarta goes almost everywhere for the equivalent of about 50 cents. Local gringos use them constantly, hopping on and off as they go about their business. Taxis are readily available downtown—just make sure you confirm the rate before you get in. The most popular form of transportation for visitors to the Vallarta area planning to explore large sections of coast is a rental car. All the major U.S. companies operate in Vallarta; expect to pay about $50 per day. While not perfect, the roads are neither as bumpy nor as confusing as they are elsewhere in Mexico. However, traffic in and out of Puerto Vallarta can get heavy. Factor in some extra time when leaving or returning through Nuevo Vallarta, especially during the morning or afternoon rush hours.

Asking the Locals: What’s the Best Thing About Living in Puerto Vallarta? “It’s not a bunch of bars and restaurants. It’s exactly what I came here for!” “The history of the place—you know you’re in touch with something real.” “It still offers that small-town, truly Mexico feeling.” “No matter where you go, the people are incredibly friendly and service oriented, and it is a safe family destination.” “The primordial pre-civilization of Vallarta is still here. The forest is five minutes behind my house!”

If you’re on a buying trip, remember that many developments do provide free shuttle services from the airport. As for safety, the region is significantly safer than most cities in the United States. Petty theft is the most common problem; violent crime is extremely rare. Common sense is the best precaution: Be mindful of your surroundings and careful when handling and withdrawing money. Familiarize yourself with a few emergency phrases in Spanish just in case. You can find a list of them in the PocketGuide and pick up a phrasebook as a more complete reference. Lonely Planet makes an excellent phrasebook called Mexican Spanish. You can purchase it on Amazon.com. It’s not all peaches and cream… Asking the Locals: What’s the Worst Thing About Living in Puerto Vallarta? “The infrastructure has not always kept pace with the development and growth.” “The worst is the developments that have no sense and regard for the environment. They end up destroying the very values they came for.” “Scorpions! You have to remember to shake your shoes out before you put them on!” “The presence of time-share operations. The salespeople are pushy and disrespectful.” “We need more eco-consciousness, especially in water consumption. North of Punta Mita, there are villages that don’t have a drop of water.”

Puerto Vallarta and The Riviera Nayarit

5


The Cost of Living Cost of Living US vs. Puerto Vallarta

Y

es, Mexico is affordable compared to the United States, but it’s not always the bargain bazaar you may have been led to believe. The big variable is your own demand. It’s possible to live well for a few hundred dollars a month, at a

much higher standard of living than would be possible in the United States. To take advantage of everything the area has to offer, however, you’ll probably wind up paying what you swore were U.S. prices.

Goods

Average Puerto Vallarta Price (in dollars)

Average US Price (in dollars)

Beef (per pound)

$3.75

$5.80

Bananas (per pound)

$0.40

$0.60

Gasoline (per gallon)*

$2.77 (Premium)

$2.88 (Premium)

Tomatoes (per pound)

$0.60

$1.80

Electricity (KW/H) in USD

$0.20-$0.25 depending on region

$0.08 -$0.16 depending on state

Taxes for a $500,000 USD home

$1115

$9339

$4

$7.50

Movie Ticket in USD

The price of gasoline fluctuates constantly. However, the prices in Mexico and the US are basically on par.

6

Resident Tip Sheet


“Texto de posición, aqui podríamos poner un highlight, It iustiniat ullut wis dolorperature volenibh enibh” Price Varies by Location Prices tend to vary from town-to-town in Mexico. In the same way that the Hamptons on Long Island is more expensive than Naples, Florida, the cost of living in Los Cabos, for example, is generally higher than that in Puerto Vallarta.

Effect of Mexican Wages Different buyers will be looking for different kinds of deals. However, the fact that a day of labor will cost you (or the developer building your home) 200 to 450 pesos -- approximately 15 to 35 dollars a day, means that you can get a lot done that, back home would have cost significantly more or you would have taken the time to do yourself. It is also why so many Mexicans try to get work in the US.

Property Tax The other place Americans will save significant amounts of money is on their property tax. Interestingly, Puerto Vallarta´s tax rate is about 50% of

What a Deal! Roses, one dozen $3.00 Tomatoes $0.79/lb Aspirin, full-size bottle $1.25 Kellogg’s Cornflakes $1.89 all prices in USD; current as of July 2009 Sticker Shock! Bacon Cheddar cheese Frito-Lay potato chips

$6.89/lb $7.34/lb $2.99/bag

On the Town in Puerto Vallarta Ten-minute parasail on Playa los Arcos: . You don’t have to break the bank to see the Bay of Banderas from above. $25.00 USD . Eighteen morning holes at El Tigre Golf Course, peak season: For no extra charge, see the eponymous tiger at the on-site zoo $150.00 USD . Auténtico cultural show at the Restaurant Iguana: Buffet meal followed by music and dancing. And an open bar $50.00 USD . Wine “flight” at the chichi Constantini Wine Bar: Or stop by a free tasting every Thursday at 6. $85.00 USD

Cancún´s. So, while the average price of real estate might be a higher in Puerto Vallarta than in Cancún, some of that spending will come back to you in tax savings. But, just to give you a sense, Cancún´s taxes are about a quarter of what you´d pay in New York and less than half of what you would pay in Florida. Puerto Vallarta´s, therefore, are much less than that.

Meet and Potatoes Fruit and vegetables are significantly cheaper in Mexico, while beef and pork actually cost more than they do back home. Fish in the coastal towns is almost always a great deal.

A Change of Pace Another way that people save is by slowing down. If you drive less, take the time to prepare your food instead of going out to eat and shop carefully you will save money. Taking the time to smell the roses is, after all, free. Or, at least cheap, if you buy the roses.

. Antojitos at the Café de Olla on Olas Altas: The dinnertime throngs testify to the unbeatable quality and $6.00 USD Botero´s Yacht / Bungee Jumping / Canopy Tour

Tips The ‘Gringo Tax’: It pays to learn Spanish. Vendors may charge more to non-locals, especially in hotel zones. Don’t be afraid to haggle for big ticket items! Luxury goods premium: Late-model autos often sell used for what they cost in the U.S., new. Consumer electronics see a similar mark-up. Import duty differences: Where U.S. and Mexican tariffs differ, e.g. South American wine, save big. Currency fluctuation: Many prices are dollar denominated —but it still pays to keep track of the exchange rate and transfer cash when rates are favorable.

Puerto Vallarta and The Riviera Nayarit

7


Resident Tip Sheet

Introduction / Arriving in the Mayan Riviera / The Cost of Living / Health & Wellness / Making a Living / Community / Retirement Living / Family Life / Learn the Language / Pocket Guide

Market Overview

Introduction / Arriving in the Mayan Riviera / The Cost of Living / Health & Wellness / Making a Living / Community / Retirement Living / Family Life / Learn the Language / Pocket Guide


Resident Tip Sheet

Introduction / Arriving in the Mayan Riviera / The Cost of Living / Health & Wellness / Making a Living / Community / Retirement Living / Family Life / Learn the Language / Pocket Guide

Market Overview

Introduction / Arriving in the Mayan Riviera / The Cost of Living / Health & Wellness / Making a Living / Community / Retirement Living / Family Life / Learn the Language / Pocket Guide


Introduction

10 Resident Tip Sheet


Market Overview Introduction Arriving in the Mayan Riviera The Cost of Living Health & Wellness Making a Living Community Retirement Living Family Life Learn the Language Pocket Guide

Puerto Vallarta and The Riviera Nayarit

11


Introduction Puerto Vallarta and the Riviera Nayarit

B

y taking Puerto Vallarta and the Riviera Nayarit together we are covering a section of coast that crosses state lines. Puerto Vallarta, one of the oldest beach vacation spots for Americans in Mexico, is the coastal jewel of Jalisco. The Riviera Nayarit, a new name for an up-and-coming destination that stretches from Nuevo Vallarta to San Blas (and promises to keep being extended north to the border with Sinaloa) promotes the state´s coastline with a dash of European chic. From just south of Puerto Vallarta´s center to San Francisco (San Pancho) to the north, is about 40 miles of remarkably diverse culture and coast. From the colonial Mexican city center of Puerto Vallarta to Sayulita´s hippie chic pueblo beauty, there is something for just about any taste from luxurious to simple. It´s hard to believe that fifty years ago, around the time that Elizabeth Taylor and Richard Burton fell in love here and kicked off a real estate rush when they bought Casa Kimberly on top of the cobbled hill overlooking the Banderas Bay, that Puerto Vallarta´s municipal population was about 15,000. Today, the population of Americans and Canadians in the area is greater than that, about 50,000 tourists arrive every week in ¨P.V¨, as Gringos like to call it, and the section of town where Liz and Dick bought is called Gringo Gulch. Redguide´s Resident Tip Sheet is designed to help you quickly get a feel for what life is like in Puerto Vallarta and up the coast to Nayarit. We offer insight into Community, Health and Wellness, services for Retirement, considerations for people who hope to earn their stay by Making a Living, and much more. Importantly, we try to give you some sense of what your costs will be. No one knows your lifestyle expectations better than you, and our guidelines will help you figure out a budget that suits you. Then, move on to our Market Overview, where we offer a snapshot of the area´s real estate market. Happy exploring!

12

Market Overview


Arriving in Puerto Vallarta and the Riviera Nayarit

Getting around

M

etro Bus service in Puerto Vallarta goes almost everywhere for the equivalent of about 50 cents. Local gringos use them constantly, hopping on and off as they go about their business.

especially during the morning or afternoon rush hours. If you’re on a buying trip, remember that many developments do provide free shuttle services from the airport.

Taxis are readily available downtown—just make sure you confirm the rate before you get in.

As for safety, the region is significantly safer than most cities in the United States. Petty theft is the most common problem; violent crime is extremely rare.

The most popular form of transportation for visitors to the Vallarta area planning to explore large sections of coast is a rental car. All the major U.S. companies operate in Vallarta; expect to pay about $50 per day. While not perfect, the roads are neither as bumpy nor as confusing as they are elsewhere in Mexico. However, traffic in and out of Puerto Vallarta can get heavy. Factor in some extra time when leaving or returning through Nuevo Vallarta,

Common sense is the best precaution: Be mindful of your surroundings and careful when handling and withdrawing money. Familiarize yourself with a few emergency phrases in Spanish just in case. You can find a list of them in the PocketGuide and pick up a phrasebook as a more complete reference. Lonely Planet makes an excellent phrasebook called Mexican Spanish. You can purchase it on Amazon.com.

Asking the Locals: What’s the Best Thing About Living in Puerto Vallarta? “It’s not a bunch of bars and restaurants. It’s exactly what I came here for!” “The history of the place—you know you’re in touch with something real.” “It still offers that small-town, truly Mexico feeling.” “No matter where you go, the people are incredibly friendly and service oriented, and it is a safe family destination.” “The primordial pre-civilization of Vallarta is still here. The forest is five minutes behind my house!”

It’s not all peaches and cream… Asking the Locals: What’s the Worst Thing About Living in Puerto Vallarta? “The infrastructure has not always kept pace with the development and growth.” “The worst is the developments that have no sense and regard for the environment. They end up destroying the very values they came for.” “Scorpions! You have to remember to shake your shoes out before you put them on!” “The presence of time-share operations. The salespeople are pushy and disrespectful.” “We need more eco-consciousness, especially in water consumption. North of Punta Mita, there are villages that don’t have a drop of water.”

Puerto Vallarta and The Riviera Nayarit

13

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