When people think of Puerto Vallarta real estate, the first thought that comes to mind is beachfront condos. A few buyers would consider Mexico homes for sale, and an even small number of savvy investors are noticing an excellent option within this property type is the fixer-upper.
The following are some of the advantages of investing in a fixer-upper.
Price – Fixer-upper homes do not hold mass appeal in the market for buyers. The majority of buyers in Puerto Vallarta look for a strong visual appeal when they are property shopping. When a home shows up that does not offer this strong visual appeal right off the bat, most buyers will move on quickly. For this reason, prices tend to be lower than probably market value. They are a great way to acquire a beautiful property for a much lower price, or, as the case may be, see return on a good investment.
Challenge of a Project – There are buyers who want to see what the get and get what they see. Others like to start with something and build up on it – a personal project. The challenge of a personal project is appealing to a certain kind of investor who likes to go through the process of identifying a hidden gem that no one else notices, then to identify the steps needed to restore this property to its full potential and to carry out those steps. Of course, the challenge of a personal project is not for everyone.
Creativity – A key feature in this appeal is creativity. When a buyer who goes into a fixer-upper home and envisions the renovated, beautiful home which could be the final result, it is creativity. The process of renovating and finding innovated solutions to carry out this vision is also creativity. Fixer-upper projects are ideal for a certain kind of buyer with a certain kind of creativity.
Keeping Ahead of the Market – A key to investment is to be slightly ahead of the market. Buying a fixer-upper home in community which is just beginning to gentrify, or one that is showing excellent potential to do so, is staying one step ahead of the market. Areas that have become main market focuses are not usual locations to find a fixer-upper homes.
Buyers considering this kind of project who have the creativity, patience and vision to do so will find excellent investment potential.
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Region: Puerto Vallarta real estate by Michael Green, an expert on Mexican real estate contract law, Green is active in national and state realty boards. Green's excellent service record both in Puerto Vallarta and the U.S, combined with an old-fashioned work ethic and an intimate knowledge of Puerto Vallarta's luxury market, make him the ideal person to consult for real estate transactions. You can contact him at (512) 879-6546.