Have you been considering buying in Playa del Carmen? Perhaps you've considered the options of buying Playa del Carmen land for sale. It's important to consider the advantages and disadvantages of of this property option compared to a completed Playa del Carmen home for sale.
The most important step in making this decision is to consult your Playa del Carmen realtor, who will be familiar with the market and will be able to help point to you the option best for your needs.
In the mean time, however, the following are a few guidelines to help you begin considering which option is better for you.
The advantages of buying land include:
Generally Lower Total Cost – Generally speaking, the total cost of buying land and having a home built is less expensive than buying a completed home, especially in the luxury market. A broker will be able to advise which areas of Playa del Carmen offer the most value for your money in land sales.
Expense Dispersed Over Time – The total cost can also be dispersed over time, first buying the land, then building the construction, and investing in landscaping, pools, and household installations.
New up-and-coming areas – While there are definitely nice, upcoming areas where homes or condos are available, some excellent value appreciation has been seen in areas which have traditionally gained little attention from property buyers.
Custom Design – One of the key attractions for buying land and having your own home built is that the home can be built the way you want it. For many, this even holds more weight than the pricing factor.
Personal Project – On the whole, some buyers like the idea of a personal project. Even if you are buying and building to resell, the process of the project for many people offers an intriguing challenge and source of enjoyment. (Work and time investment too, of course, which is the other side of the coin!)
The advantages of buying a home include:
Fire-sale price reductions. It's more common that completed homes turn up on the "fire-sales" list, with excellent price reductions. Deals like this can often make the pricing of homes equal to or even better than the land and construction approach.
Completed Property, Ready to Use. - A home is ready to use. Many are sold furnished as turnkey sales, and can be used the day after the property is delivered. No personal project or process of building, etc. This appeals more to certain people.
Income from Rental. While the expense of buying land and building a home can be dispersed over some time, completed homes can be rented out during the same time to balance some of the expense. However, in this case it's very important to consider location, rental demand and property details. Your broker will be able to comment on feasibility of renting a given home.
Financing. While some financing options can be found for land, there are many more possibilities for completed homes, including bank mortgages directly in Mexico.
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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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