Buying in Mexico

Building in Mexico

Managing your construction

Simply, keep clear, just records of all you spend on building so you can add this to your cost basis and further reduce your capital gains tax. Receipts must be in order if you are to maximize the benefits.

There are a few options when choosing to build; 1: you can hire a company to give you a set rate for the entire job, or 2: you can hire a contractor and pay for the cost of materials, workers etc and pay a 10-20% fee on top. Both have their pluses, but option two requires you keep control of all records yourself, where as option one leaves the burden on the company you hired.

There are many intricacies in the building process and it is advisable to seek advice and understand all that is involved. Procedures must be done in the correct order to avoid complications and most of all, to cut your cost basis and capital gains tax.

Punta Mita realty has been involved in construction in Mexico for many years; our team can advise you of your options and assist in making the best choice for you.