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Cheap Mexico Homes in Progreso – Yucatan's Beachfront Community


Thomas Lloyd,  Broker By Thomas Lloyd
2010-11-03

While Yucatan's beachfront is long, stretching out along the north of the Peninsula, the town of Progreso, about 30 minutes from the city of Merida, is the focal point of Mexico homes for expats along this beautiful stretch of beachfront.

The choices in homes generally reflects the much broader range of Yucatan real estate available, but perhaps the type of properties getting the most attention these days are inexpensive homes. While high-end beachfront luxury is definitely available out of town, buyers who prefer more accessible prices, and a small-town, neighborly lifestyle are choosing options in the town itself.

There are several options available. One is the colonial-style fixer upper. Since the town has not yet been discovered by a large number of expats, there are many very high potential classic homes which have been neglected and, in some cases, even abandoned. The prices at which these homes are available are unbelievable at first, considering that most of them are only 1 block back from the beachfront, but after doing some market research, buyers will discover that a project home could be found for under $50,000 USD.

Some very large stone homes are also available for higher prices, of course, and would require more investment to return to their original splendor; although the investment is considerably more than the smaller homes just mentioned, the final value – both in lifestyle and in resale possibility – could far outstrip the costs if the correct property is selected. Whenever choosing a Mexico home as a fixer-upper project, it is strongly advised to consult with an experienced, qualified agent.

For those who aren't interested in taking on a project, a renovated home is also an excellent choice. By paying the extra amount, you save yourself the trouble of going through the renovation project, and running the risk of lost time and funds through unexpected complications. Buyers should consult with an agent, and ask around the community to make sure they are buying from a renovator who has a good reputation, and the experience to know how to do this large task correctly. A renovated home could be found for around $80,000 - $100,000 and upwards depending on the size, style and quality.

New homes in the affordable price ranges are less common, although some very well-priced condominiums on the beachfront are available.

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Region:  Playa del Carmen 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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