The New Year is only a day away. Everyone likes to make resolutions – usually ones that are unpleasant, and therefore difficult to keep. Why not make a resolution that is both a real pleasure, and covers one of those other points, like saving money – for example, why not buy Mexico real estate or have a home built here?
Our last post on this topic for this year is about the savings and cost factors to consider.
One of the key attractions to living in Mexico is the low cost of just about everything. Building a home in Mexico is no exception. In addition to the low prices for property in Mexico, there are additional savings from having it built rather than buying a completed home.
To pinpoint an exact price or even range is not very useful, since Mexico land for sale can be found in just about every price range, and homes can also be built in huge range of prices. This having been said, there are several points that are worth highlighting.
Owners get more for their money
Low prices for lots and materials, very accessible wages and several other factors mean that whatever a property owner invests in building their home, they will walk away with much more than what they would get for that same price back in the U.S. or Canada. They will even get more that they would with a completed home in Mexico for the same price.
It is worth investing more for better results
This is a fairly universal rule. If an owner doesn’t have more to invest, they may consider reducing the scope of their project to ensure that they can have done well. On the other hand, if their dream is a colonial-style villa with a courtyard, they may do well to invest in a lot now, and wait for a time before building rather than “settling” for a style they are not interested in.
Funds invested in a professional coordinator are often saved back
As an extension on the last point, unless someone actually has experience with the building process in Mexico, it is almost always worth investing into the professional services of a builder or architect who will oversee the project. While this is an extra expense, at least some of those funds are usually saved back by avoiding issues like having to redo part of the work, stalling the project because of permit issues, etc. Also, the final result will often simply be more appealing.
Owners need to know their budget from the outset!
Again, this is no different from a building project in the U.S. or Canada. Having a clear budget to work within will be an important part of having a successful project in the end.
Knowing what their budget is, at the time of buying a lot, a buyer’s agent can point the buyer to a professional builder or other resources where they will be able to explore the possible homes that fall within that budget.
In all cases, Americans and Canadians can enjoy a dream home in Paradise exactly as they want it and save money at the same time!
Doug Morgan was born in Dayton, Ohio and went to college at Buckeye State. Moving to Louisiana after college, he became President of his New York Stock Exchange company at the age of 28. His later career shifted to Florida and the investment business, where he was a financial advisor and branch manager for over 30 years. He bought his first condominium in Mexico in 2008 (from Top Mexico Real Estate), initially as a vacation home, but a year later he retired and moved full time to Playa del Carmen. Contact Doug at (512) 879-6546.
The TOP Mexico Real Estate Network; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!”