Your Own Coastal Condo For US$99,000, Financing Available
Along the shores of Mexico’s Bay of Banderas, development began at Puerto Vallarta. Progress moved south at first, down to Mismaloya, where the “Night of the Iguana” was filmed in 1962 (the movie came out in 1964). Then it moved north and crossed into the state of Nayarit, into what was cleverly named Nuevo Vallarta. Today, progress continues north up the coast along what has been coined the Riviera Nayarit.
The amenities, services, and shopping all along this Bay of Banderas region are similar and comparable to what you can find in the United States. This is an important point. Comparisons are often made between different stretches of Pacific coastline in different countries south of the Rio Grande and the Pacific coast of California. These comparisons are almost always generous, exaggerated, or outright misrepresentations (think Nicaragua, Ecuador, etc., where, sure, the coasts can be beautiful, but they are largely undeveloped and certainly don’t compare with the California coast when it comes to infrastructure, services, and amenities).
In the case of the Pacific coast region along the Bay of Banderas, a comparison to the coast of California is not poetic but practical.
Development in this region was fueled, first, by tourism, initially foreign tourism, but, most recently, a growing volume of in-country tourism, as well. All that tourism infrastructure in place eventually attracted the attention of foreign retirees, too, both snowbirds and North Americans looking for a full-time retirement option that would allow them to escape bad winters and the high and escalating costs of coastal living up north.
Some areas along this bay have gotten pricey. However, if you’re looking for access to the lifestyle and the infrastructure that Vallarta offers on a budget, that’s still very possible. The secret is to look where the tourists aren’t.
Vista Encantada, a small private coastal development that we invited to participate in this week’s Live and Invest in Puerto Vallarta Conference, is one of the best such options you’ll find. Situated north of Punta Mita, Vista Encantada is the vision of developers Carlos and Sandra Mungia. The couple found a piece of property up on hills, overlooking the Pacific, that offers great views and easy access to the nearest beach. On this spot they have begun building a community that features a nature reserve and a spa area centered around the property’s private waterfall.
You can buy a building lot at a great price and build your own house at Vista Encantada, but, at the Live and Invest in Puerto Vallarta Conference this week, Carlos and Sandra launched their first condo building. Units have views of the fishing village to the north and of their practice golf course to the south (three holes overlooking the ocean).
A few units sold before this week’s launch, to friends and insiders. Here at the event, Carlos and Sandra offered conference attendees a special deal on one of the 730-square-foot one-bedroom units on the ground floor. That unit sold during the event, to one of our attendees in the room.
However, Carlos and Sandra have decided to offer another one-bedroom unit to Live and Invest Overseas readers at the same discounted price.
The building is four stories with 32 units in all…18 of which are one-bedroom apartments. It’s the first of three and is already under construction; the footings were completed last week. Each building will have an elevator, and each unit comes with completed kitchens with granite counters, air conditioning units, and ceiling fans. All of which is uncommon in most new construction in this area.
Several houses have been built at Vista Encantada, and the bulk of the infrastructure is already installed, including electricity, water, and split stone roads. Nature trails have been laced throughout the green areas, including along the creek bed that runs from the waterfall. The spa has been designed and laid out alongside the waterfall and creek.
The list price for the one-bedroom units on the ground floor is US$119,000. The special launch offer is a US$20,000 discount. That means you can pay but US$99,000 for a 730-square-foot ocean-view one-bedroom apartment that includes the air conditioning units. The purchase terms for this specially priced unit are 30% down, with the balance due in six months. You won’t find this kind of value often, even in a pre-construction offer.
The condo complex will include two pools for the three buildings, and owners will have access to all community amenities, including the practice golf course, driving range, putting green, spa, and walking trails. HOA fees are estimated to be US$125 a month.