Plastic or Cash

Plastic or Cash?

Plastic or cash is the common question that is being asked by people who are thinking about moving to Mexico to live or take a vacation. Cash in notes and coins is always a favorite choice in Mexico although many of the western countries in the North American and in Europe are using less cash. Cash is still the most preferred and popular way to pay for food, goods, and services in Mexico no matter that the major move is going towards credit and debit cards along with internet banking.

Plastic or Cash in Mexico?

Credit and debit cards are currently being used all over in Mexico by most middle-class people in Mexico with many working class people starting to use plastic cards more. Nearly half the people and households in Mexico today don’t have a current bank account, and they depend on Mexico’s cash-based environment for all their purchases. Recently, internet banking is starting to be used. Not too long ago, the Bank of Mexico did an underlying study that revealed that a large majority of the people in Mexico that have a debit card are only using the debit card to draw out their paycheck at a local ATM to then use cash, which clearly states that the form of payment in Mexico that is often preferred and widely used is cash.

Credit and Debit Card Payments in Mexico

All of the main supermarket and grocery stores, department stores, the stores at the malls, popular restaurants in the larger towns and cities, well-known car dealerships, furniture stores, technology and electrical stores, popular food and beverage chains (such as Starbucks and McDonald’s), the bus companies, travel agencies, professional providers (such as dentists, doctors, and attorneys), and all major businesses that do business with the middle and upper classes accept credit and debit card payments. These businesses also accept smartphone payments too. The mobile phone companies allow their customers with pre-pay phone services to pay with a credit or debit card at their stores, online, or paying on their smartphone.

Cash Only Payments in Mexico

There are many places that only accept cash for their payments in Mexico such as many independent convenience stores, open markets, street cabs that are independent, shoe shine stalls on the streets, ambulant vendors, street food trucks, corner newspaper vendors, smaller shops, smaller boutiques, and paying for your personal help such as your housekeepers, gardeners, and pool maintenance workers. Electricians, carpenters, and plumbers are a few trades that will accept cashless payments, but these payments are generally a money transfer to a local bank, but if any of these trades are doing a routine job for you such as fixing a leak, then they will only accept a cash payment.

Souvenirs on Vacation

When you are touring a city while on vacation in Mexico, then you will need to have cash for any local transportation that you use or to purchase any souvenirs from street vendors or stores that are locally owned.

Tipping in Mexico

Cash is essential and needed when you are going to be tipping in Mexico. When you are leaving a tip, then the cash should be preferably in the form of pesos. If you are vacationing on a tour package and the majority of your vacation will be spent at the resort, then you may not need to have a lot of cash as there are only a few times that you will need to have cash.

Plastic or cash in Mexico? As you can see, there are places that you will need to pay for goods and services with cash while other places will only accept debit or credit cards.

Reference: https://www.mexperience.com/cash-please/
Best Real Estate in Puerto Vallarta

Strategies for Finding the Best Real Estate in Puerto Vallarta and Riviera Nayarit

Discover the fail-proof strategies for finding the best real estate in Puerto Vallarta and Riviera Nayarit. Here are the top strategies that can assist you in your search for a vacation home or a full-time home that will meet all your needs.

Purchasing Real Estate at The Right Time

Purchasing real estate at the right time is beneficial when looking for the best real estate in Puerto Vallarta and Riviera Nayarit. One of the best times to purchase real estate in Puerto Vallarta and Riviera Nayarit is immediately after the peak season, because this is the time that all the snowbirds and expats return back to their home for the summer months. During this time is when real estate agents can spend more time with you and they can totally focus on finding the home that meet your needs. Also, during this time is when many properties are vacant, so your real estate agent can find several properties for you to look at in one afternoon. You will be able to see all of the properties during our rainy season, so seeing if there are leaks or mold is possible along with making sure the airflow is correct.

Hire a great real estate agent

You should hire a great and qualified real estate agent, because the real estate agent that is qualified will make sure to find properties that you are looking for that will also go along with investments. You will want your real estate agent to be upfront and honest with you about all the costs involved in buying real estate in Puerto Vallarta and Riviera Nayarit. The real estate agent should be honest about being able to provide you with a property that not only meets your needs, but that is within the price you want to spend.

Purchase a real estate in Puerto Vallarta and Riviera Nayarit within your means

Before you even start looking at real estate in Puerto Vallarta and Riviera Nayarit, you should make sure that you have the capital and funds to invest in real estate in Mexico. The majority of the properties in Mexico are generally paid in full, as mortgages carry high interest rates, although within the last several years, the number of mortgage lenders has increased offering more competition. You should also remember that if you do get a mortgage in Mexico the interest rates will be much higher than you are accustomed to in the USA, Canada or Europe.

Always remember that when you are going to purchase real estate in Puerto Vallarta and Riviera Nayarit you should always stay within your means and budget.

What are Your Expectations?

What are your expectations when you are searching for real estate in Puerto Vallarta and Riviera Nayarit? Have you been given advice by family and friends that say, “Steer clear of buying a property on or near the beach, because it is very expensive” or “Look for properties that are on the outskirts of town, because it will save you a lot of money”. What are your actual expectations as to why you want to live to Banderas Bay? You may be surprised to know that property in Puerto Vallarta and Riviera Nayarit can be very affordable. If one of your main goals is to live cheap, then you may want to look for properties that are in a less desirable neighborhood but if you really want to experience Mexico with amazing views, then you should choose properties that meet your goals and expectations. You may be pleasantly surprised to find that real estate in Puerto Vallarta and Riviera Nayarit by the sea is in within your budget.

Be Practical

You should think about how often you will be using the property before you purchase it. Will you use the property once or twice a year, or full-time? If you are planning to relocate and live in the property full-time, then the real estate in Puerto Vallarta and Riviera Nayarit you choose will reflect those circumstances; however, if you will only be using the property once or twice a year you might want to consider a fractional purchase or renting out your place when you are not there.

Should you Buy or Rent in Mexico

Should you Buy or Rent in Mexico?

Many tourist who desire to live in Mexico at specified times of the year will most likely wonder if it’s better to buy or rent in Mexico. To answer that, one should take into consideration the person’s overall financial situation, life goals and experience with Mexican life.

Here are some tips to help you know if you should buy or rent in Mexico:

Benefits of Buying Real Estate in Mexico

There are several benefits of purchasing property in Mexico, which makes it no surprise that foreign investors, retirees and young families are gravitating to the change of pace in their daily routine:

  • More stable
  • Choosing to buy a home in lieu of renting one gives you more permanence and security. For example, if your landlord/lady decides to sell the property, you risk being asked to leave. Also, if the owner dies while you are under contract, there may be difficulties in having your contract upheld by the replacement owner.

  • Freedom
  • One great benefit of purchasing real estate is the freedom to make your property look the way you want it to look. Therefore, any remodeling or enhancements done will add value to your home. Also, keep in mind that when you are back in your home country, you can rent your property.

  • Potential for appreciation
  • Another great benefit of purchasing real estate is the probability of the property increasing in value over time. So, you could stand to make a reasonable profit if you choose to sell your property years later.

  • A sound investment
  • There’s no doubt that purchasing real estate in Mexico is one of the best investment moves you could ever make—especially if your property is in one of the popular tourist locations that don’t seem to be going out of style for years to come.

  • Benefits of when you rent in Mexico
  • Your financial situation may warrant that you rent instead of buying a property in Mexico. However, if you decide to save and buy the property later, renting may be the best way to decide if the property is worth the financial risk.

  • Less Responsibility when you rent in Mexico
  • Renting a property is the same as saying you have placed all upkeep and repairs in the hands of the landlord/lady. That means if the boiler just happens to shut down, your landlord/lady will absorb the worry of finding a person to fix it and paying for it. Also, if your roof must be replaced, you are not responsible for its upkeep because that’s the owner’s responsibility—your landlord/lady.

  • No long-term commitment
  • No long-term commitment means you have the flexibility to relocate more often. You can get a rental contract as short as a month, a year or even two years. To terminate your contract, it is ethical to provide notice within a specified period.

  • No need for a large investment
  • One of the biggest advantages that comes when your rent in Mexico instead of buying is being able to secure a property with a small investment. Most rentals in Mexico can be obtained by paying the first month’s rent and a deposit the equivalent to a few months.

Mexico is Safer than you Think

Why Mexico is Safer than you Think

For many, the media headlines in the USA and Canada reporting drug related violence in Mexico is why many people are questioning if Mexico is safe and secure. Is Mexico dangerous or it is really safe? It may surprise you to know that Mexico is safer than you think. Look below and you will instantly know why Mexico is safer than you think.

Mexico’s Economy is growing at an enviable rate: Mexico’s economy grew substantially in 2010 at 5.5%, because of shred and positive investments, sound government, a low debt for the public and private parties, and foreign companies are investing here. Mexico is currently one of the few in the world’s ‘trillion dollar’ economies. Many other nations are wanting to work with Mexico, because our economy is thriving. You can look up the foreign trade missions in the last few years if you don’t believe this, then you can do a simple Google search. The top representatives of many other countries are wanting some of the pie in Mexico.

No Expat Exodus: When the economy in Mexico wasn’t stable many decades ago, the expats in Mexico would return home, but currently, even with all the violence and drug activity that is taking place, many more expats are relocating to Mexico. The Mexico government is expecting many more expat to relocate in Mexico, because of the benefits with finances are much better. If Mexico was truly unsafe, why would expats relocate here daily?

Most People Remain Totally Unaffected by the Drug-Related Violence: The Mexican government has recently published that the last few years in the country that the homicides that have occurred were committed by gang members killing other gang members. The tourists and visitors along with all expats have not been involved in the drug gang activities, and the majority of the visits by tourists have never been involved in any violence.

Mexico Matters: The South of the United States, Mexico is very important to many other nations. Today, Mexico plays a major role in all the affairs in the world. Mexico shares land with the United States, which is why the gangs and drug lords are trying to take over the trade routes. In the United States, the illegal narcotic markets are providing drugs for anyone who wants them. Mexico and the United States are currently working together to resolve the drug markets.

Mexico’s Underlying Story is Strong and Getting Stronger: Mexico is only getting stronger and the economy is in great shape, even with the drug related violence that is being reported. Mexico is fortunate to have oil and gas reserves that is very substantial along with precious metals and mineral wealth. Visitors from around the world continue to come to Mexico no matter what the media is reporting. Many foreign governments are continuing to trade with Mexico, and expats are living in Mexico and living a normal and wonderful life. Although, the statistics show that Mexico crime and violence is on the rise, it is still much lower and safer than in many of the United States cities.

As you can see, Mexico is safer than you think. You can’t always believe the news. If you are leery of visiting Mexico, you can rest assure and know why Mexico is safer than you think for you and your family.