Over the years as I see a growing number of Americans and Canadians buy Playa del Carmen real estate, I hear many of them ask the same questions and express the same concerns about buying real estate here and then living here. The following are the top 5 questions, along with my answers.
Is Playa del Carmen safe?
Yes. People hear news reports about conflicts in Mexico; what they don't think about at the moment is that Mexico is a huge country. There are areas which people will want to avoid, but they are hundreds of miles away. Playa del Carmen has a very high level of security, and crime rates are low. Those who still feel they prefer the added protection can buy homes in a gated community with controlled access, but most people who live here feel safe, and stats back up this feeling.
Related: A Safe Haven for Visitors, Expats and Retirees
Can I get a property for a limited budget?
There are properties for all tastes, needs and budgets. While direct beachfront is very well priced for what you get (views and direct access to the most beautiful beaches in the world,) those on more limited budgets can find something a few blocks back for noticeably lower prices. Playa del Carmen's layout makes walking access for everyone easy.
Are there financing options?
Yes. There are a variety of financing options to choose from. While bank mortgages are available sporadically, developer financing options are becoming more common. Short-term financing is fairly easy to obtain and real estate brokers can often find a feasible long-term option for those who need it.
Will I have American and Canadian neighbors?
Playa del Carmen is home to about 15,000 Americans and large number of Canadians as well who live here all year round or most of the year, not to mention Europeans and Argentinians. Most condo complexes and neighborhoods will have quite a few “expats†and you will quickly find them and get to know them. You will also have middle-class Mexican neighbors who will know English and are usually very friendly and neighborly.
How much is the cost of living in Playa del Carmen?
The vast majority of items cost less in Playa del Carmen than in the U.S. or Canada including dining out, hospitals, traveling, groceries, furniture, most bills, entertainment and taxis. A handful of items are the same or more, but most people find that their budget goes much further here, some people living on little as half as what they would spend back home.
Related: How Much Money Do You Need To Retire In Mexico?
Of course, you will probably have other questions about properties and life in Playa del Carmen, but hopefully these answered some of the basics for you!
Mexico Real Estate NETWORK; "Mexico's Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!"
Region: Mazatlan real estate Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.
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