Owning a Home in Puerto Rico
Livtopia is working overtime to keep up with the terrific efforts that Puerto Rico is making to attract home-owners and retirees to the wonderful real estate opportunities available on the island now.
In certain municipalities on the Island of Puerto Rico, the Bank will provide incentives like:
- $25,000 dicount off the purchase price (offered as a downpayment) if the property is used as your primary residence! If you sell within 3 years, you will need to return the $25,000 to the government office offering this promotion.
- $15,000 will be discounted from the purchase price (applied to the downpayment) if this is a second home purchase or an investment property.
These incentives apply only in New Developments already registered with DACO (Departmento de Asuntos del Consumidor), and they are NOT available in every municipio of Puerto Rico.
Livtopia can help you to find a home that definitely meets the requirements and that is already registered with DACO.
The incentive will apply only to the sales price (as down payment), and can't be used for closing costs. And Livtopia's "On-the-Ground Experts" can help you to take advantage of these and other incentives.
Minimum finance requirements are $56,250 for a primary residence and $33,750 for second home or investment property, but with discounts like these there is hardly a need for a downpayment.
While Livtopia can spell out the steps to property purchase in this beautiful island paradise, we can also stay with you throughout the process. We regularly clear up any doubts and assure transparency and security, so that your purchase process is as beautiful as the property itself.