Living In Chacala

Banking – The larger banks: Bancomer, Bital, Banamex, etc. offer familiar services such as checking, savings accounts, wire-transfer services, currency exchange, loans, etc. Many U.S. citizens living in Mexico use Lloyds which offers deposit accounts that are interest bearing. Lloyds also offers additional services to their customers such as insurance coverage on homes, cars, and health care.
Insurance – A Homeowner’s Policy for cars, boats, and homes can be secured through Lloyds Bank in Puerto Vallarta. Coverage is available for fire, theft, wind, flooding and earthquake damage.
Health Insurance – Medical care in the larger Mexican cities is comparable to care in the U.S. – at one quarter the cost. That’s good, because Medicare pays for nothing outside the U.S. Foreigners may enroll in the IMSS plan (Instituto Mexicano del Seguro Social), which covers progressively more over a three-year period, costs only a few hundred dollars a year, and is renewable for life. It has no age restrictions but won’t cover people with chronic conditions such as diabetes or heart disease. Inexpensive private Mexican or international medical coverage is also available. The smaller towns usually have a health (emergency-type) clinic. While not equipped to handle major medical situations, they can stabilize a patient and prepare them for a journey to Puerto Vallarta, Tepic or Guadalajara.
Shopping – Major shopping exits in Guadalajara, a very modern city of some 6 – 8 million. Much nearer, in Puerto Vallarta or Tepic (the cosmopolitan capitol of Nayarit) are large grocery stores, a Wal Mart and a Sam’s Club. Many in rural areas visit these cities to stock up on bulk or specialty items -.usually finding whatever they want.. Near Chacala, Las Varas and La Penita. provide the basic necessities: groceries, hardware, auto parts, laundry/dry cleaners, hair salons, furniture, clothes, appliances, household goods etc. Currently, Chacala has two convenience stores - with items similar to those found in a convenience store in the U.S.- as well as a hardware/building materials store, a church, a school and a couple of B & Bs. More is coming as the government plans to install a marina in Chacala Bay.
Financing Property Purchases –Financing property in Mexico is not as easy, nor as cheap, as it is in the U.S. Because of the considerably greater cost, it’s advisable to limit your search for financing to U.S. lenders (who are showing an ever-increasing interest). It is a bit difficult to find ready sources for the financing of single-family home purchases. But financing is readily available for the purchase of residential building sites, fractional ownership and time-share purchases; however, the rates will exceed those in the U.S. Down payments range from 10 - 20%, the balance usually amortized over 15 years.
Property Taxes –Property taxes in Mexico are very low compared to similar valued properties in the U.S., (maybe $200-300/yr.for a $300,000 house).
Utility costs – Electricity costs about 13 cents per kilowatt hour. Other than lights, pool equipment, refrigerator and electronic devices (A/C is optional in the November through May season) you won’t use much electricity. Propane bottles cheaply fuel stoves, outdoor grills and the domestic hot-water.
Transportation – Travel to most villages, the ones that are on the map and even some that aren’t, is easily achieved with buses and cabs that are virtually everywhere and inexpensive. Rental cars are available at the airport in Puerto Vallarta, but cheaper to book from the U.S. Be sure to shop prices.
Restaurants – The village of Chacala has 8-10 beachside restaurants that serve breakfast, lunch and dinner. The fare consists of seafood, and most other basic menu items and a sufficient variety of drinks. These restaurants are clean and inexpensive. There are also some very inexpensive restaurants a couple of miles south in both Las Varas and La Penita. Rincon de Guayabitos boasts an even larger variety of restaurants. The possibilities increase as you travel to Punta de Mita or Bucerias. The ultimate for night-life and restaurants is Puerto Vallarta – it has over 700 licensed restaurants.