Moving or Buying in Puerto Rico?

Buying a home in Puerto Rico? It can be exciting but also a bit confusing. I’ve answered some of the most common questions buyers have asked me over the years.

+ Q: Am I ready to own a home or condo in Puerto Rico? - Q: Am I ready to own a home or condo in Puerto Rico?

A: To understand whether you’re ready to own property, it’s a good idea to take stock of your financial life. What kind of savings do you have and how much can you put down? What debt are you carrying, and what kind of lifestyle are you hoping to have in Puerto Rico? Answering these will help you determine if you’re ready to make this financial commitment. I can help you navigate all the financing options available in Puerto Rico.

+ Q: What are some of the best places to live in Puerto Rico? - Q: What are some of the best places to live in Puerto Rico?

A: Great question! There are some really super and safe areas to live on the island. Some of the most popular areas are:

Guaynabo - Plenty of shopping, dining and entertainment options!

Old San Juan – Gorgeous old colonial buildings and cobblestone streets.

San Juan – The capital of Puerto Rico and the largest city. Wonderful amenities with plenty to see and do.

Isla Verde – Both locals and visitors claim this is the best beach on the entire island. It’s close to San Juan so you get beauty with amenities right next door.

These are just some of the best spots in Puerto Rico. I’m happy to show you more.

+ Q: Is How much can I afford? - Q: How much can I afford?

A: You’ll want to crunch some numbers to determine how much house you can afford. How much do you (and your co-signer) earn each month? Include all of your revenue streams including alimony, investment profits and rental earnings.

Next, add up all your monthly expenses. This includes what you usually pay for food, utilities, healthcare, as well as any debt you are paying down. Take the final number and subtract it from your earnings. This is how much you realistically can pay each month for a mortgage.

Having said that, you will want some wiggle room to be able to put money into savings as well, so don’t plan on spending everything that’s left on your mortgage payment.

The good news is real estate is incredibly affordable right now in Puerto Rico. You won’t have to pay a lot to get a wonderful beachfront condo or ocean view home.

+ Q: What should I keep in mind when looking at homes? - Q: What should I keep in mind when looking at homes?

A: You’ll want to know EXACTLY what your needs are before you begin shopping for homes. How big do you need the home? Will your furniture fit? Will all of the appliances stay? Are the current owners aware of any maintenance issues? If you’ll be moving with young children, you’ll want to know about the local schools if you’re not homeschooling.

Buying a Home in Puerto Rico?

If you have other questions, I’ll be more than happy to answer them. You may be wondering about the amazing tax incentives Puerto Rico offers people moving to the island. I can answer any questions you may have about Act 20 22 society, the Puerto Rico act 22 application, ley 22 2012, and the Puerto Rico tax code.

My goal is to give my clients the utmost service and care. If you are looking for a REALTOR that will always keep your best interests in mind, give me a call. I look forward to helping you find your dream home!!