Many people dream of owning real estate in one of Mexico’s beachfront communities – like Cancun real estate or Puerto Vallarta real estate. For most people, the only thing that could be better than finding their ideal home or condo in one of these areas would be finding their ideal home or condo at a super discount.
What most people don’t know is that resources exist to help buyers find excellent real estate deals in places like Cancun and Puerto Vallarta. The following are a few ways buyers can find excellent deals and buy their dream beachfront real estate well below market value.
Price reductions & fire sales - When talking about Mexico’s real estate market, a couple of points are necessary to remember. One is that the market is more stable than back home, with fewer big fluctuations in overall market values, and steadier increases. Another is that prices are still more accessible than in warm-weather beachfront areas in the U.S., Europe and many other parts of the world. Finally, even under these conditions, personal pressures now and then will push owners to sell urgently.
Often, in these cases, sellers will lower the prices considerable compared to what similar properties in the area are selling for; it is more important for them to sell quickly than to get the value their property is really worth. They are sometimes also more flexible with pricing, excepting offers more readily.
Since the sales market is fairly healthy, these deals get bought up quickly in places like Cancun and Puerto Vallarta; for this reason it is necessary for buyers to be on the ball.
Preconstruction price reductions – Another approach is to buy condominiums in the preconstruction phase. For the first sales, when the construction is just beginning, it is more important for developers to get the ball rolling for sales than to get the full value (later, this works as a good sales pitch – “X number of properties are already sold – you need to move quickly.”) It’s to your advantage to be one of the early buyers and get the discounts.
If you are looking for an excellent deal in Puerto Vallarta or Cancun, talk to your agent, and see what’s available.
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