In a market which currently offers a glut of completed or near completed condos, with prices to reflect the large supply, some buyers my second guess their choice of buying land in Puerto Vallarta. This kind of property can, however, be a good purchase under certain circumstances.
You as a buyer, could consider buying Mexico land in the following situations:
You find Puerto Vallarta land at a very low price. While deals on condos in this kind of market can be found everywhere, there are some excellent deals to found on land as well, if you are willing to look for them. For various reasons, lot owners will sell at prices below market value, allowing you as a buyer to build your home and enjoy an overall savings compared to buying a home. This is not always the case, and buyers should work closely with an agent to investigate the price of the lot in addition to building and improvements compared to the price of buying the home.
The lot is in an up-and-coming neighborhood. One specific example of where to find well-priced lots is in up-and-coming neighborhoods where American, Canadian and European buyers are just beginning to notice the potential. From some of these buyers can enjoy benefits such as walking distance to downtown and beautiful views of the bay, while the lots themselves are still available at very accessible prices. Of course, all the other benefits of owning real estate in Puerto Vallarta, such as new shopping centers, excellent hospitals and a large international airport are always close at hand.
You have a very specific dream home you wish to build. Maybe you know that the total cost of buying a lot and having a home built in a certain neighborhood doesn't present you any savings as opposed to buying a completed home, but you have a specific dream home in mind. You've looked around, and you haven't found something that matches your idea, so you're willing to invest this amount for the sake of having that home specifically they way you want it. Few of us offer ourselves this luxury, but it could be a real motivation.
In conclusion, there's no reason to avoid a Puerto Vallarta land purchase. It can be both very rewarding personally, and it can present some excellent opportunities to save as well. Buyers considering land in the area should work with an experienced broker, and discuss their plans to ensure that they find the property most suitable for their needs.
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