Are you planning to buy a Playa del Carmen home for sale? If so there are two main options you may consider; one is buying a home, the other is considering Playa del Carmen land for sale and having a home built. The following are a few advantages of each to help you choose.
Buying land is often an overlooked option in the Playa del Carmen market; yet, like in many other locations throughout the country, Mexico land for sale in the area offers clear advantages for certain kinds of buyers, including the following:
Lower initial investment. Those who do not need immediate use of their property can invest in a lot, and disperse the following expenses of preparing, building and completing over time.
Lower overall costs. In many cases, the total cost of buying a lot, and having a home built are a lower total than buying a completed home of the same style of design.
Personalized home design. Even when the costs are similar, many buyers are attracted by the possibility of having a home built in a design that suits their own needs and tastes.
Value of custom design. On top of this, for those considering the investment factor, quite often custom designed homes hold a greater future value.
Buying a completed home, whether new or resale, offers a distinct set of advantages. These advantages include the following.
Immediate use. All resale homes, and often completed homes in new developments, offer the option of immediate delivery and use. Often, homes in the area a sold "turnkey" – fully furnished and ready to use.
Immediate rental income. On the investment side, this can provide a different type of advantage; the home can also be rented out immediately if it is not being used.
Preconstruction discounts. On the other hand, a home in a new development that has not been completed can be bought at a preconstruction discount, offering buyers considerable savings and payments dispersed over the construction period.
Financing options. Homes completed or near completion are more likely to qualify for long-term financing from banks and similar institutions (directly in Mexico, designed for foreigners). Buyers can asked their agent regarding these options if they are buying a completed home.
Hands-off process. Having a home built is great for someone who loves a personal project. Most other people prefer the process of obtaining their home to be as hands-off as possible; a complete home, especially if sold turn-key, is the best way to find this.
While both have their distinct advantages that are true at all times, the particular market conditions in Playa del Carmen at any given time may also offer advantages one way or another. Consulting with an experienced agent will help buyers to determine if market conditions favour one option or another.
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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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