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TOP Tip in a Minute: Condo vs. Condo-Hotel

Hello, I’m Thomas Lloyd and this is the Top Tip in a Minute…
Today we are talking about the difference between a Condo and a Condo-Hotel.

Condo:

Let me start by first describing a condo. A condo is basically a multi-unit property. This could be a vertical building or a horizontal project with various homes. Each condo is privately owned by various individuals within the same property. You will find common area that are jointly owned by the individual condo owners. Common areas which may include a swimming pool, a gym, a garden area, tennis courts, etcetera, etcetera. In order to maintain the common areas a condo association is formed to administer the expenses and upkeep.

Condo-Hotel:

Now let’s review, what is a condo-hotel? First everything that I just described in regards to a condo plus a condo-hotel includes an infrastructure ready to receive vacation renters and a rental management company to operate the property. That does this include? This may include items such as a front desk, reception area, lobby area, warehouse area to store accessories such as shampoos, towels, and soaps, and other amenity that you would commonly find in an average hotel. A condo-hotel also differs from a condo in the respect that normally an onsite rental management company operates the vacation rental business. Usually a condo-hotel will allow the owner of the condo to use his condo for personal use or allow them to place the condo on the rental market to earn rental revenue for the condo owner.

I’m Thomas Lloyd and this has been Top Mexico Real Estate’s Top Tip in a Minute. Feel free to check out all the other informative Top Tip’s on the Top Mexico Channel.

And remember, here at Top Mexico Real Estate…

We make it happen!

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Enter to Win a Trip to the Riviera Maya!

The 2015 Calgary Herald Recreation & Investment Properties Show sponsored by the Calgary Herald and Mexi-Go is back by popular demand. The Calgary Herald Recreation & Investment Properties Show will held on Saturday, March 7th from 9:00 am – 5:00 pm. The event will be held at the Deerfoot Inn & Casino on 11500 35 Street SE in Calgary, Alberta. Admission and parking to the event is free.

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If you will be in the Calgary, Alberta area on March 7th Top Mexico Real Estate cordially invites you to attend The Calgary Herald Recreation & Investment Properties Show at The Deerfoot Inn & Casino. I, Thomas Lloyd with Top Mexico Real estate, will have a booth at the show and be there to answer all of your questions about buying property in Mexico. Additionally I will also be a guest speaker at this show. Be sure to join me at 10:00 am for my presentation about How to evaluate and manage risks in the Mexican pre-construction market.

One of the unique opportunity’s I will be bringing to the show is the Top Mexico Real Estate Live It, Compare It & Buy It Tour. The Live It, Compare It & Buy It Tour was designed for you to ‘live in’ and experience the various properties in the Riviera Maya, compare those properties and choose the best property for you. Through this tour, you will have the opportunity to escape to paradise for 7 days and 6 night in the beautiful and exotic Riviera Maya. During the Recreation & Investment Properties Show I will be signing people up for The Live It, Compare It & Buy It Tour but don’t worry if you cannot attend the show you will have an opportunity to sign up for the tour. This fun, no-pressure Live It Tour will include:

  • 3 nights at The Fives, a 5 star all inclusive resort in Playa del Carmen
  • 2 nights at Bahia Principe, a 5 star all inclusive resort in Tulum
  • 1 night at a premium vacation condo in Downtown Playa del Carmen
  • Transportation to the hotels, Live It real estate tours and to the airport
  • Fun VIP Riviera Maya Live It Real Estate Tour

If you are you ready for this outstanding opportunity to LIVE IT, compare it and buy your dream home in paradise, stop by the Top Mexico Real Estate booth to sign up… paradise is waiting for you!

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In addition to the Live It Tour, I will be signing people up for a fantastic raffle. At the end of the expo, I will raffle off several prizes including:

  • A 7 day & 6 night Live It Tour for two.
  • A round of golf for two at the Robert Trent Jones II Riviera Maya Golf Course.
  • A spa treatment on the beach for two.
  • A swimming with dolphins tour for two.

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Make sure to stop by TOP Mexico Real Estate booth at the Recreation & Investment Properties Show to say hello and sign up for the free raffle. But don’t worry if you are not able to attend the expo or don’t live in the area you will still have the opportunity to sign up for the Live It Tour and free raffle if you go online and signup for the Live It Tour on March 7th between the hours of 9am – 5pm (mountain time) and you will automatically be entered in the raffle. Good luck! Signup for the Live It Tour here!

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Buying on a Budget: Micro Factors within Your Area

In this series, Buying on a Budget, you will learn how to evaluate the Mexico real estate market and decide what kind of real estate property you are looking for. We will provide you with all the necessary tools for buying real estate in Mexico on a budget and teach you how and where to find savings. So that when the right opportunity arises, you are ready for it. In this edition of Buying on a Budget you will learn about location factors and how to evaluate areas within any region to find lower than average prices.

In the last edition, I discussed choosing an area within Mexico as a way to find savings. But the reality is that you probably choose the area that you wish to live in according to where you vacationed and fell in love with. Whether the area you choose is inexpensive or not, there are factors within each given area that can help you choose a good property at a lower price. Here are some examples that cover a number of locations.

Back from the Beach

The biggest factor to consider is the proximity to the beach. In popular beachfront locations like Playa del Carmen or Puerto Vallarta condo overlooking the beach are in high demand and the price is reflects the demand. Property located a few blocks from the beach will have a significant drop in the prices. At the same time, these properties are a comfortable walk away from the beach, and often have stores, shops and restaurants close to them. And if you look for a property just a short drive from the beach you will find even lower prices.

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If you are buying an investment property with rental income, you need to consider the location and its rental potential.

The Exceptions

The “back from the beach” rule applies to many beachfront communities, but there are exceptions. For example, Cancun a worldwide vacation destinations main beachfront area is the Hotel Zone, a strip of land with luxury resorts and high-rise condos. Because this narrow strip of land is separated from downtown by a large lagoon there are no property’s a couple blocks back from the beach. This having been said, a similar idea applies to the downtown area, lower prices and only a 10 minute drive to the beach.

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New Communities

Within any given region, the newly developing communities often offer lower prices. The first developers to build in the new area will usually be able to buy their land at lower prices. Theses developers then in turn offer lower prices to the buyer.  As the community begins to build up and more services appear the price begins to rise. For these reasons, there are often low prices on good properties in newer communities.

Gentrifying Communities

It usually goes without saying that within any area, expat neighborhoods will have higher prices than neighborhoods built for the local Mexican population. Prices will adjust according to the amenities, means and lifestyle of the area. There are neighborhood that were originally developed for locals that have potential, be it close to the beach or downtown, or there are really nice view. While many expats do not want to buy in these neighborhoods, once the community gains some appeal and starts to get discovered, you will have the opportunity to buy before the area becomes too popular.

With these new communities, there is always some educated guesswork involved. If you are choosing a gentrifying community to save money, you should consider the possibility that it might stay the way it is for some time, and be sure that you can live there comfortably.

Once Popular Communities

There are also communities that were once popular and for one reason or another, maybe new options within the area have opened up, they have fallen out of popularity. Sellers will need to lower their prices to compensate, while the initial appeal for the area such as a nice lifestyle or its proximity to the beach is still there.

Savings vs. Investment

Many of these options are a good choice for finding lower prices if you are simply looking to enjoy life in Mexico in a good property. On the other hand, if you are interested in an investment property, you will need to pay more attention to the rental potential and perhaps invest a little more if necessary to maximize this potential. The fact that these locations are prime expat and tourism destinations can often increase investment potential in the kinds of communities mentioned above.

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There are many ways to evaluate areas within any region to find lower than average prices. The next edition will cover living in Mexico on a budget. Be on the lookout!

Now, if you have any question about buying on a budget or if you are interested in any of the TOP MEXICO REAL ESTATE properties we have listed anywhere throughout Mexico, please feel free to contact our Top Buyer’s Representatives and we will be glad to help you find your very own piece of paradise.

And remember, here at TOP MEXICO REAL ESTATE…

We make it happen!

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If you will be in the Houston, Texas area on March 5th or March 8th you are cordially invited to attend The Fives real estate presentation at The Houstonian Hotel, Club & Spa. The Fives would like you to discover the real estate opportunity at their five star resort in the Riviera Maya. Join them for an exclusive, special event at The Houstonian Hotel to discover how easy it is to own a beachfront condo at the exclusive resort, The Fives in Playa del Carmen, Mexico.

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On Thursday March 5th at 6:00 pm there will be a cocktail and Hors d’oeuvre real estate presentation. On Sunday, March 8th at 10:00 am The Fives will be hosting a real estate presentation brunch. Both events will be held at The Houstonian Hotel, Club & Spa on 111 North Post Oak Lane in Houston, Texas.

The Fives is where your new life begins!

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Paradise is the reward at The Fives. Luxury, comfort and mysticism of an ancient culture all set in the beautiful Caribbean are all the reasons you need to escape your normal routine and begin your journey to a place where paradise is waiting for you.

The Fives is an exclusive, full ownership luxury oceanfront development with 5 star amenities and services. The fully furnished and equipped luxury, contemporary condos at The Fives come with one, two or three bedrooms, as well as penthouses featuring excellent views of the Caribbean Sea. The luxury condos at The Fives are surrounded by a wonderful ecological environment. The Fives condo-hotel was strategically designed to operate as a 5 star resort, featuring a personalized concierge service, complimentary housekeeping and membership to The Fives Owners Club where you will receive exclusive discounts at the Spa and on dining at their gourmet restaurant. With The Fives carefree maintenance and administration program you are sure to receive a return on your investment.

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By choosing The Fives as the beach house of your dreams, you will have peace of mind of a safe investment, while enjoying all the exclusive amenities and services The Fives has to offer.

The Fives is where your new life begins! To learn more about The Fives and to receive your complimentary VIP tickets to the real estate presentation in Houston please feel free to contact one of the Top Mexico Real Estate Buyer’s Representatives.

And remember, here at Top Mexico Real Estate…

We make it happen!

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Drastic Price Reduction at Villas Balam!

Located in northern Playa del Carmen is Selvamar, a beautiful, gated residential community. Selvamar is recognized for its quiet, suburban feel and for being a safe place where families and retirees can live comfortably in peace with nature. The natural, beautiful grounds of this residential community showcases many plants, trees and colorful flowers. The exclusive amenities at this family friendly community include walking paths, tennis, basketball and volleyball courts, and a soccer field. And most importantly, Selvamar provides easy access to a gorgeous beaches of Playa del Carmen.

Selvamar is only a 10 minute drive from downtown Playa del Carmen, where you can enjoy excellent restaurants, nightlife and shopping. Also you can do all your grocery shopping and run your daily errands there. At Selvamar you can enjoy the tranquility of living away from downtown but be close enough the necessity’s one need to live a comfortably life.

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If you are looking for comfort, Villas Balam is a new development in the Selvamar community. Villas Balam is modern day living at its best. The architects of Villas Balam paid special attention to what a modern day family wants, creating a product that is high quality and cost effective. Here you will find modern designed, open floor plans with plenty of space to live comfortably. The Villas have three bedroom and three and a half bathrooms spread out on three floors featuring a solarium on the top floor. The spacious 136 sq. meter condos come with two bedroom and two bathroom. All of the units are integrated with today’s best technology and come with fully equipped kitchens with top of the line appliances and granite countertops and a laundry room with a washer and dryer.

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The residents at Villas Balam can enjoy beautiful common areas with a swimming pool, palapa and barbecue area. A perfect place to spend your weekends relaxing with friends and family. Villas Balam also has round the clock onsite security and private parking.

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Villas Balam is offering an $18,000 USD price reduction on their 2nd floor, two bedroom, two bathroom condo. This condo was priced at $158,000 USD and after the price reduction it is only $140,000 USD. This promotion is only valid until March 30th. If you are interested in Villas Balam and the promotion please feel free to contact one of the Top Mexico Real Estate Buyer’s Representatives. We will be happy to assist you.

And remember, here at TOP MEXICO REAL ESTATE…

We make it happen!

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