About the only negative image that people would connect with the Mexican Caribbean – everything from Cancun down to Costa Maya including Playa del Carmen and Tulum – is hurricanes.
First, let me start with 2 points:
- hurricanes are a real risk in this part of the world
- however, it is rare that they strike directly or that any given place gets the “bruntâ€
So, considering these two points, it might be once in a decade that you are confronted with the more extreme winds and heavier rainfall; however, chances are that you will be keeping your home in Playa del Carmen for the long haul (people do fall in love!) and so you will want to take this factor into consideration when buying.
(It’s worth noting that these points are just as helpful if you’re living over on the other side of Mexico on the Pacific, like in Puerto Vallarta. Both locations within Mexico are much better off than those poor Caribbean islands, like Jamaica and Puerto Rico.)
The following are some points on which you can (and should) evaluate the cost vs. risk factor:
1. Back from the beach – Obviously the further back from the water the less risk you will be confronting. This is yet another advantage of buying back from the beach, as Doug discussed a couple of days ago.
2. Flying objects – You should review the neighborhood, imagine flying objects from the wind and determine how risky this is to your property. The highest risk when you are back away from the sea is broken windows and heavy rain rushing in causing damage your furniture and appliances.
3. Bottom floor – If the property is on bottom floor what flooding will occur and how will these high waters damage your property? This may be a bigger issue if the property is lower than surrounding terrains.
In addition to these factors in the property itself, you will want to consider the following options:Â
1. Hurricane shutters – Since broken windows is often the biggest risk, especially if higher-risk flood locations are avoided, this is a very good one-time investment that removes most of this risk.
2. Insurance – There are insurance packages that are especially designed for properties in hurricane areas that could be used as a final security.
If you take these items into account, and have hurricane shutters installed, the risk of having damage costs to cover will be greatly reduced. And combined with the fact that hurricanes come very seldom, you can rest assured that you are protecting your investment.
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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 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at (512) 879-6546.
The TOP Mexico Real Estate Network; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!â€