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Buying in Puerto Rico

Ocean View Homes / Apartments / Land

Buying a House, Apartment or Land Property in Puerto Rico for first time Investors can be challenging. We are here to help you and answer all your questions. We have many associates that are specialist in all areas in Puerto Rico. North, South, East and West we have you covered. Let our passion for helping anybody who wants to live in Puerto Rico make there Dream Come True. HOME SWEET HOME PUERTORICO!

Important Things to know before buying a house.

  • Credit Score of each buyer
  • Get Pre-Approval Letter from a Lender
  • Have a least 3 Lenders to compare prices
  • Find a Realtor that is an expert in the area your looking to purchase
  • Get a CMA's from your Realtor for the houses you are considering
  • Verify if there were any renovations and if they were permitted and up to code.
  • Verify HOA Payments and if any new increases are foreseen in the future
  • Check for any water related problems
  • Check for any Electrical related problems
  • Check floors for any loose tiles or hollow tiles on floors

Realtor?
Did you know that in Puerto Rico you do not need to be a Realtor to practice Real Estate.
I am a REALTOR associated with:

  • San Juan Association of REALTORS®

  • Miami Association of REALTORS®

  • Florida Association of REALTORS® 

  • National Association of REALTORS®.  

Buying a house in Puerto Rico is an exciting endeavor, but it’s essential to consider several factors before making such a significant investment. Here are key considerations:

  1. Puerto Rico Locations: Choose the right location that aligns with your needs and preferences. Puerto Rico offers diverse areas, from urban settings in San Juan to coastal towns and rural communities. Consider factors like proximity to work, schools, amenities, and lifestyle preferences.

  2. Budget: Determine your budget and secure financing, if needed. Consider not only the purchase price but also ongoing costs, including property taxes, insurance, and maintenance.

  3. Property Type: Decide on the type of property you want, whether it’s a single-family home, condo, townhouse, a fixer-upper or land to build your dream home. Your choice will depend on your budget and lifestyle.

  4. Legal Considerations: Understand the legal aspects of buying real estate in Puerto Rico. Research property taxes, permits, and ownership structures, as they can differ from the mainland United States.

  5. Local Real Estate Market: Research the local real estate market conditions, including property values, recent trends, and expected changes in the area you’re interested in.

  6. Inspection and Due Diligence: Conduct thorough due diligence, including property inspections and title searches, to ensure the property is in good condition and has a clear title.

  7. Climate and Environment: Consider the local climate and environmental factors. For instance, coastal properties may be exposed to hurricanes and saltwater, so you’ll want to evaluate the property’s resilience.

  8. Residency Status: Determine your residency status in Puerto Rico, as it may impact your property taxes and other financial matters.

  9. Property Management: Decide if you’ll manage the property yourself or hire a property management company if you plan to rent it out or are away for an extended period.

  10. Long-Term Plans: Think about your long-term plans for the property. Will it be a primary residence, vacation home, or investment property? Your goals will affect your choice.

  11. Community and Amenities: Explore the neighborhood and the amenities it offers, such as schools, shopping, healthcare, and recreational options.

  12. Local Regulations: Stay informed about local regulations, especially if you plan to rent the property as a vacation rental. Rules can vary by municipality.

  13. Insurance: Look into property insurance, including coverage for hurricane and flood damage, which is important in the Caribbean.

  14. Local Culture: Learn about the local culture and customs, as Puerto Rico has a unique and rich heritage.

  15. Local Experts: Seek advice from local real estate agents, attorneys, and financial advisors who are knowledgeable about the Puerto Rican real estate market.

Buying a house in Puerto Rico can be a great investment and a wonderful lifestyle choice, but thorough research and careful consideration of the above factors are crucial to making a well-informed decision.